Document:

CONTRIBUTION
      AGREEMENT

    

    dated
      as
      of May 3rd, 2006

    

    by
      and
      among

     

    KIRAN
      P. PATEL

    

    HASU
      P. SHAH

    

    BHARAT
      C. MEHTA

    

    KANTI
      D. PATEL

    

    

    as
      Contributor, 

     

    44
      CAMBRIDGE ASSOCIATES, LLC

    

    and
      

     

    HERSHA
      HOSPITALITY LIMITED PARTNERSHIP

    

    

    as
      Acquiror

    

    

    IN
      CONNECTION WITH THE PURCHASE AND SALE OF

    MEMBERSHIP
      INTERESTS IN 44 CAMBRIDGE ASSOCIATES, LLC, OWNER OF THE

    HOLIDAY
      INN EXPRESS & SUITES, CAMBRIDGE, MASSACHUSETTS

     

    
      

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    CONTRIBUTION
      AGREEMENT

    

      THIS
        CONTRIBUTION AGREEMENT, dated as of May 3, 2006 (the "Agreement"),
        by and among Hasu P. Shah ("Shah"), K. D. Patel ("KD"), Kiran P. Patel ("KP"),
        Bharat
        C.
        Mehta ("Mehta") (each and collectively, "Contributor"), 44 Cambridge Associates,
        LLC,
        a
        Massachusetts limited liability company (the "LLC"), and Hersha Hospitality
        Limited Partnership,
        a Virginia limited partnership (the "Acquiror"), provides:

      

      ARTICLE
        I

      

      DEFINITIONS;
        RULES OF CONSTRUCTION

      

      1.1   Definitions.
        The
        following terms shall have the indicated meanings:

    

    

    "Act
      of Bankruptcy"
      shall
      mean if a party hereto or any general partner thereof shall (a) apply for or
      consent to the appointment of, or the taking of possession by, a receiver,
      custodian,
      trustee or liquidator of itself or of all or a substantial part of its property,
      (b) admit in writing
      its inability to pay its debts as they become due, (c) make a general assignment
      for the benefit
      of its creditors, (d) file a voluntary petition or commence a voluntary case
      or
      proceeding under the Federal Bankruptcy Code (as now or hereafter in effect),
      (e) be adjudicated a bankrupt or insolvent, (f) file
      a
      petition seeking to take advantage of any other law relating to bankruptcy,
      insolvency,
      reorganization, winding-up or composition or adjustment of debts, (g) fail
      to
      controvert in a timely and appropriate manner, or acquiesce in writing to,
      any
      petition filed against
      it in an involuntary case or proceeding under the Federal Bankruptcy Code (as
      now or hereafter
      in effect), or (h) take any corporate or limited liability company action for
      the purpose of effecting any of the foregoing; or if a proceeding or case shall
      be commenced, without the application
      or consent of a party hereto or any general partner thereof, in any court of
      competent jurisdiction
      seeking (l) the liquidation, reorganization, dissolution or winding-up, or
      the
      composition or readjustment of debts, of such party or general partner, (2)
      the
      appointment of a receiver,
      custodian, trustee or liquidator or such party or general partner or all or
      any
      substantial part
      of
      its assets, or (3) other similar relief under any law relating to bankruptcy,
      insolvency, reorganization, winding-up or composition or adjustment of debts,
      and such proceeding or case shall continue undismissed; or an order (including
      an order for relief entered in an involuntary case
      under the Federal Bankruptcy Code, as now or hereafter in effect) judgment
      or
      decree approving or ordering any of the foregoing shall be entered and continue
      unstayed and in effect, for a period of 60 consecutive days.

    

    "Articles
      of Organization"
      shall
      mean the Articles of Organization of the LLC filed
      with the Secretary of Commonwealth of Massachusetts, a true and correct copy
      of
      which is attached
      hereto as Exhibit
      F.

    

    "Assignment
      and Assumption Agreement"
      shall
      mean, collectively, the Shah Assignment, the Mehta Assignment, the KD
      Assignment, and the KP Assignment.

    

    "Shah
      Assignment"
      shall
      mean that certain Assignment and Assumption Agreement
      with respect to the Shah Interests, dated as of the Closing Date, by and between
      Shah and Acquiror.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    "Mehta
      Assignment"
      shall
      mean that certain Assignment and Assumption Agreement
      with respect to the Mehta Interests, dated as of the Closing Date, by and
      between Mehta and Acquiror.

    

    "KD
      Assignment"
      shall
      mean that certain Assignment and Assumption Agreement
      with respect to the KD Interests, dated as of the Closing Date, by and between
      KD and
      Acquiror.

    

    "KP
      Assignment"
      shall
      mean that certain Assignment and Assumption Agreement with
      respect to the KP Interests, dated as of the Closing Date, by and between KP
      and
      Acquirer.

    

    "Authorizations"
      shall
      mean all licenses, permits and approvals required by any governmental
      or quasi-governmental agency, body or officer for the ownership, operation
      and
use
      of
      the Property or any part thereof.

    

    "Closing"
      shall
      mean the Closing of the contribution and acquisition of the Interests pursuant
      to this Agreement.

    

    "Closing
      Balance"
      shall
      have the meaning set forth in Section
      2.3(c).

     

    "Closing
      Date"
      shall
      mean the date on which the Closing occurs.

    

    "Consideration"
      shall
      mean $12,200,000.00 payable to the Contributor at Closing in the manner
      described in Section
      2.3.

    

    "Continuing
      Liabilities"
      shall
      include liabilities arising under Operating Agreements,
      Leases, equipment leases, loan agreements, or proration credits at Closing,
      but
      shall exclude any liabilities arising from any other arrangement, agreement
      or
      pending litigation.

    

    "Deposit"
      shall
      have the meaning set forth in Section
      2.3.

    

    "Employment
      Agreements"
      shall
      mean any and all employment agreements, written or oral, between the Contributor
      or its managing agent and the persons employed with respect
      to the Property. A schedule indicating all pertinent information with respect
      to
      each Employment
      Agreement in effect as of the date hereof, name of employee, social security
      number, wage or salary, accrued vacation benefits, other fringe benefits, etc.,
      is attached hereto as Exhibit
      B.

    

    "Escrow
      Agent"
      shall
      mean All American Abstract, 2854 Egypt Road, Audubon, PA
      19403.

    

    "FIRPTA
      Certificate"
      shall
      mean the affidavit of the Contributor under Section
      1445 of the Internal Revenue Code certifying that such Contributor is not a
      foreign corporation, foreign partnership, foreign limited liability company,
      foreign trust, foreign estate or foreign
      person (as those terms are defined in the Internal Revenue Code and the Income
      Tax Regulations),
      in form and substance satisfactory to the Acquiror.

     

    
      
        
        

      

      
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    "Governmental
      Body"
      means
      any federal, state, municipal or other governmental department,
      commission, board, bureau, agency or instrumentality, domestic or
      foreign.

    

    "Hotel"
      shall
      mean the hotel and related amenities located on the Land.

    

    "Improvements"
      shall
      mean the Hotel and all other buildings, improvements, fixtures
      and other items of real estate located on the Land.

    

    "Insurance
      Policies"
      shall
      mean those certain policies of insurance described on Exhibit
      C
      attached
      hereto.

    

    "Intangible
      Personal Property"
      shall
      mean all intangible personal property owned or possessed by the Contributor
      or
      the LLC and used in connection with the ownership, operation, leasing, occupancy
      or maintenance of the Property, including, without limitation, the right
      to
      use the trade name "Holiday Inn Express & Suites" and all variations
      thereof, the Authorizations, escrow accounts, insurance policies, general
      intangibles, business records, plans and specifications, surveys and title
      insurance policies pertaining to the real property and the personal
      property, all licenses, permits and approvals with respect to the construction,
      ownership, operation, leasing, occupancy or maintenance of the Property, any
      unpaid award for taking by condemnation or any damage to the Land by reason
      of a
      change of grade or location of or access to any street or highway, and the
      share
      of the Tray Ledger as hereinafter defined, excluding (a)
      any
      of the aforesaid rights the Acquiror elects not to acquire, (b) the
      Contributor's cash on hand,
      in
      bank accounts and invested with financial institutions and (c) accounts
      receivable except for the above described share of the Tray Ledger.

    

    "Interests"
      shall
      mean collectively, the Shah Interests, the Mehta Interests, the KD Interests,
      the KP Interests, consisting of an aggregate 100% membership interest in the
      LLC.

    

    "Shah
      Interests"
      shall
      mean all right title and interest of Shah in the LLC, consisting of a 25%
      membership interest in the LLC.

    

    "Mehta
      Interests"
      shall
      mean all right title and interest of Mehta in the LLC, consisting of a 25%
      membership interest in the LLC.

    

    "KD
      Interests"
      shall
      mean all right title and interest of KD in the LLC, consisting of a 25%
      membership interest in the LLC.

    

    "KP
      Interests"
      shall
      mean all right title and interest of KP in the LLC, consisting of a 25%
      membership interest in the LLC.

    

    "Inventory"
      shall
      mean all inventory located at the Hotel, including without limitation,
      all mattresses, pillows, bed linens, towels, paper goods, soaps, cleaning
      supplies and other such supplies.

     

    
      
        
        

      

      
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    "Knowledge"
      shall
      mean the actual knowledge of the Contributor that he would have
      had
      after making reasonable investigation.

    

    "Land"
      shall
      mean that certain parcel of real estate lying and being in Cambridge,
      Massachusetts at 250 Monsignor O'Brien Highway, Cambridge, MA 02141, as more
      particularly described
      on Exhibit
      A
      attached
      hereto, together with all easements, rights, privileges, remainders,
      reversions and appurtenances thereunto belonging or in any way appertaining,
      and
      all of
      the
      estate, right, title, interest, claim or demand whatsoever of the Contributor
      therein, in the streets and ways adjacent thereto and in the beds thereof,
      either at law or in equity, in possession or
      expectancy, now or hereafter acquired.

    

    "Leases"
      shall
      mean those leases of real property listed on Exhibit
      D
      attached
hereto.

    

    "LLC"
      shall
      mean 44 Cambridge Associates, LLC, a Massachusetts limited liability company
      that owns, as its only assets, the leasehold interest in the Land, and the
      Hotel
      and Improvements located on the Land.

    

    "LLC
      Operating Agreement"
      shall
      mean the current operating agreement of the LLC,
      a
      true and correct copy of which is attached hereto as Exhibit
      G.

    

    "Manager"
      shall
      mean Hersha Hospitality Management, LP, a Pennsylvania limited
      partnership.

    

    "Operating
      Agreements"
      shall
      mean the management agreements, service contracts, supply contracts, leases
      (other than the Leases) and other agreements, if any, in effect with
      respect to the construction, ownership, operation, occupancy or maintenance
      of
      the Property.
      All of the Operating Agreements in force and effect as of the date hereof are
      listed on Exhibit
      E
      attached
      hereto.

    

    "Owner's
      Title Policy"
      shall
      mean an owner's policy of title insurance issued to the Acquiror by the Title
      Company, dated as of the Closing Date, pursuant to which the Title Company
      insures the Acquiror's ownership of title to the leasehold interest in the
      Real
      Property (including
      the marketability thereof) subject only to Permitted Title Exceptions. The
      Owner's Title
      Policy shall insure the Acquiror in the amount of the Consideration and shall
      be
      acceptable in
      form
      and substance to the Acquiror. The description of the Land in the Owner's Title
      Policy shall be by courses and distances and shall be identical to the
      description shown on a survey provided by the Contributor to the
      Acquiror.

    

    "Permitted
      Title Exceptions"
      shall
      mean those exceptions to title to the Real Property
      that are satisfactory to the Acquiror as determined pursuant to Section
      2.2.

    

    "Property"
      shall
      mean collectively the Land, Improvements, the Inventory, the Reservation
      System, the Tangible Personal Property and the Intangible Personal
      Properly.

    

    "Real
      Property"
      shall
      mean the Land and the Improvements.

     

    
      
        
        

      

      
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    "Reservation
      System"
      shall
      mean the Contributor's Reservation Terminal and Reservation System equipment
      and
      software, if any.

    

    "Securities
      Act"
      shall
      mean the Securities Act of 1933, as amended.

    

    "Study
      Period"
      shall
      mean the period commencing at 9:00 a.m. on the date hereof, and continuing
      through the time of Closing.

    

    "Tangible
      Personal Property"
      shall
      mean the items of tangible personal Property consisting
      of all furniture, fixtures and equipment situated on, attached to, or used
      in
      the operation
      of the Hotel, and all furniture, furnishings, equipment, machinery, and other
      personal property of every kind located on or used in the operation of the
      Hotel
      and owned by the Contributor
      or the LLC.

    

    "Title
      Commitment"
      shall
      mean the commitment by the Title Company to issue the
      Owner's Title Policy.

    

    "Title
      Company" shall mean All American Abstract, 2854 Egypt Road, Audubon,
PA
      19403.

    

    "Tray
      Ledger" shall mean the final night's room revenue (revenue from rooms
occupied
      as of 12:01 a.m. on the Closing Date, exclusive of food, beverage, telephone
      and
similar
      charges which shall be retained by the Contributor), including any sales taxes,
      room taxes or other taxes thereon.

    

    "Utilities"
      shall mean public sanitary and storm sewers, natural gas, telephone,
public
      water facilities, electrical facilities and all other utility facilities and
      services necessary for the operation and occupancy of the Property as a
      hotel.

    

    1.2   Rules
      of Construction.
      The
      following rules shall apply to the construction and interpretation
      of this Agreement:

    

    (a)   Singular
      words shall connote the plural number as well as the singular and vice
      versa, and the masculine shall include the feminine and the neuter.

    

    (b)   All
      references herein to particular articles, sections, subsections, clauses or
      exhibits
      are references to articles, sections, subsections, clauses or exhibits of this
      Agreement.

    

    (c)   Headings
      contained herein are solely for convenience of reference and shall
      not
      constitute a part of this Agreement nor shall they affect its meaning,
      construction or effect.

    

    (d)   Each
      party hereto and its counsel have reviewed and revised (or requested
revisions
      of) this Agreement, and therefore any usual rules of construction requiring
      that
ambiguities
      are to be resolved against a particular party shall not be applicable in the
      construction and interpretation of this Agreement or any exhibits
      hereto.

     

    
      
        
        

      

      
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    ARTICLE
      II

     

    CONTRIBUTION
      AND ACQUISITION: STUDY PERIOD;

    PAYMENT
      OF CONSIDERATION

    

    2.1   Contribution
      and Acquisition.
      Each
      Contributor agrees to contribute, assign and transfer their respective Interests
      to the Acquiror and the Acquiror agrees to accept the Interests in
      exchange for the Consideration and in accordance with the other terms and
      conditions set forth herein.

    

    2.2   Study
      Period.
      (a) The
      Acquiror shall have the right, until the end of the Study Period,
      to enter upon the Real Property and to perform, at the Acquiror's expense,
      such
economic,
      surveying, engineering, environmental, topographic and marketing tests, studies
      and investigations
      as the Acquiror may deem appropriate. If such tests, studies and investigations
      warrant, in the Acquiror's sole, absolute and unreviewable discretion, the
      purchase of the Interests
      for the purposes contemplated by the Acquiror, then the Acquiror may elect
      to
      proceed to
      Closing and shall so notify the Contributor prior to the expiration of the
      Study
      Period. If for any reason the Acquiror does not so notify the Contributor of
      its
      determination to proceed to Closing
      prior to the expiration of the Study Period, or if the Acquiror notifies the
      Contributor, in writing,
      prior to the expiration of the Study Period that it has determined not to
      proceed to Closing, this Agreement automatically shall terminate, and the
      Acquiror shall be released from any
      further liability or obligation under this Agreement.

    

    (b)   During
      the Study Period, the Contributor shall make available to the Acquiror,
      its agents, auditors, engineers, attorneys and other designees, for inspection
      copies of all
      existing architectural and engineering studies, surveys, title insurance
      policies, zoning and site plan
      materials, correspondence, environmental audits and other related materials
      or
      information if
      any,
      relating to the Property which are in, or come into, the Contributor's
      possession or control.

    

    (c)    The
      Acquiror hereby indemnifies and defends the Contributor against any loss,
      damage or claim arising from entry upon the Real Property by the Acquiror or
      any
      agents, contractors
      or employees of the Acquiror. The Acquiror, at its own expense, shall restore
      any damage
      to
      the Real Property caused by any of the tests or studies made by the
      Acquiror.

    

    (d)    During
      the Study Period, the Acquiror, at its expense, may cause an examination
      of title to the Property to be made, and, prior to the expiration of the Study
      Period, may
      notify the Contributor of any defects in title shown by such examination that
      the Acquiror is unwilling to accept. The Contributor shall notify the Acquiror
      whether the Contributor is willing to
      cure
      such defects and to proceed to Closing. Contributor may cure, but shall not
      be
      obligated to cure such defects. If such defects consist of deeds of trust,
      mechanics' liens, tax liens or other liens or charges in a fixed sum or capable
      of computation as a fixed sum, the Contributor, at his option,
      shall either pay and discharge (in which event, the Escrow Agent is authorized
      to pay and discharge
      at Closing) such defects at Closing. If the Contributor is unwilling or unable
      to cure any
      such
      defects by Closing, the Acquiror shall elect (1) to waive such defects and
      proceed to Closing
      without any abatement in the Consideration or (2) to terminate this Agreement.
      The Contributor shall not, after the date of this Agreement, subject the
      Property to and shall take all reasonable
      best efforts to prevent the Property from being subjected to any liens,
      encumbrances, covenants, conditions, restrictions, easements or other title
      matters or seek any zoning changes or take
      any
      other action which may affect or modify the status of title without the
      Acquiror's prior written consent, which consent shall not be unreasonably
      withheld or delayed. All title matters revealed by the Acquiror's title
      examination and not objected to by the Acquiror as provided above shall be
      deemed Permitted Title Exceptions. If Acquiror shall fail to examine title
      and
      notify the Contributor of any such title objections by the end of the Study
      Period, all such title exceptions
      (other than those rendering title unmarketable and those that are to be paid
      at
      Closing as provided above) shall be deemed Permitted Title
      Exceptions.

    
      
        
        

      

      
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    2.3   Payment
      of the Consideration.
      The
      Consideration shall be paid to the Contributor in the following
      manner:

    

    At
      Closing, the Acquiror shall pay the Consideration, as adjusted by the
prorations
      pursuant to Section 6.5 hereof (the "Closing Balance"), in the form of lawful
      money of the United States.

    

    ARTICLE
      III

     

    CONTRIBUTOR'S
      REPRESENTATIONS. WARRANTIES AND COVENANTS

    

    To
      induce
      the Acquiror to enter into this Agreement and to purchase the Property,
each
      Contributor hereby makes the following representations, warranties and
      covenants, upon each
      of
      which the Contributor acknowledges and agrees that the Acquiror is entitled
      to
      rely and has
      relied:

    

    3.1   Identity
      and Power.
      The
      Contributor is an individual, a limited partnership or a trust and has all
      requisite powers and all governmental licenses, authorizations, consents and
      approvals
      necessary to carry on its business as now conducted, to own, lease and operate
      his properties, to execute and deliver this Agreement and any document or
      instrument required to be executed
      and delivered on behalf of the Contributor hereunder, to perform his obligations
      under this
      Agreement and any such other documents or instruments and to consummate the
      transactions contemplated hereby.

    

    3.2   Authorization,
      No Violations and Notices.

     

    (a)   The
      execution, delivery and performance of this Agreement by the Contributor, and
      the consummation of the transactions contemplated hereby have been duly
authorized,
      adopted and approved by the Contributor. No other proceedings are necessary
      to
      authorize this Agreement and the transactions contemplated hereby. This
      Agreement has been duly
      executed by the Contributor and is a valid and binding obligation enforceable
      against him in accordance with its terms.

    

    (b)   Neither
      the execution, delivery, or performance by the Contributor of this Agreement,
      nor the consummation of the transactions contemplated hereby, nor compliance
      by
the
      Contributor with any of the provisions hereof, will

    
      
        
        

      

      
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      (i)    violate,
        conflict with, result in a breach of any provision of, constitute a default
        (or
        an event that, which, with or lapse of time or both, would constitute
        a default) under, result in the termination of, accelerate the performance
        required
        by, or result in a right of termination or acceleration, or the creation
        of
any
        lien,
        security interest, charge, or encumbrance upon any of the Property or
assets
        of
        the LLC, under any of the terms, conditions, or provisions of, the Articles
        of Organization, the LLC Operating Agreement, or any note, bond, mortgage,
        indenture, deed of trust, license (including without limitation, the
License),
        lease, agreement, or other instrument, or obligation to which the LLC is
        a
        party, or by which the LLC may be bound, or to which the LLC or the Property
        or
        assets may be subject; or

       

      (ii)   violate
        any judgment, ruling, order, writ, injunction, decree, statute, rule, or
        regulation applicable to the LLC or its Property or assets that would not
        be
        violated by the execution, delivery or performance of this Agreement or the
        transactions contemplated hereby by the Contributor or compliance by the
        Contributor with any of the provisions hereof.

    

    

    3.3   Litigation
      with respect to Contributor.
      There is
      no action, suit, claim or proceeding
      pending or, to the Contributor's Knowledge, threatened against or affecting
      the
Contributor
      or his assets in any court, before any arbitrator or before or by any
      governmental body
      or
      other regulatory authority (i) that would materially adversely affect the
      Contributor or the Interests,
      (ii) that seeks restraint, prohibition, damages or other relief in connection
      with this Agreement or the transactions contemplated hereby, or (iii) would
      delay the consummation of any of the transactions contemplated hereby. The
      Contributor is not subject to any judgment, decree, injunction, rule or order
      of
      any court relating to the Contributor's participation in the transactions
      contemplated by this Agreement.

    

    3.4   Interests
      and Property.

    

    (a)   The
      Interests are, on the date hereof, and will be on the Closing Date, free
and
      clear
      of all liens and encumbrances and the Contributor has good, marketable title
      thereto and the right to convey same in accordance with the terms of this
      Agreement. Upon delivery of the
      Contributor's Assignment and Assumption Agreement to the Acquiror at Closing,
      good valid and
      marketable title to the Contributor's Interests, free and clear of all liens
      and
      encumbrances, will
      pass
      to the Acquiror. The Interests constitute the only outstanding securities and
      membership
      interests of the LLC.

    

    (b)   [
      Except
      for the lien created at the option of the Acquirer for a revolving line of
      credit, the Property is, on the date hereof, and will be on the Closing Date,
      free and clear of all liens and encumbrances, and the LLC has good, marketable
      title thereto and the right to convey
      same. The LLC is the fee simple owner of the Real Property and the sole owner
      of
      the Property.
      ]

    

    3.5   Bankruptcy
      with Respect to Contributor.
      No Act
      of Bankruptcy has occurred with respect
      to the Contributor.

     

    
      
        
        

      

      
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    3.6   Brokerage
      Commission.
      The
      Contributor has not engaged the services of, nor is it or will it or Acquiror
      become liable to, any real estate agent, broker, finder or any other person
      or
entity
      for any brokerage or finder's fee, commission or other amount with respect
      to
      the transactions
      described herein on account of any action by the Contributor.

    

    3.7   The
      LLC.

     

    (a)   The
      LLC
      is a limited liability company duly formed, validly existing and in
      good
      standing under the laws of the Commonwealth of Massachusetts and has all
      requisite powers necessary to carry on its business as now conducted, to own,
      lease and operate its properties.

    

    (b)   Neither
      the execution, delivery, or performance by the Contributor of this Agreement,
      nor the consummation of the transactions contemplated hereby, nor compliance
      by
      the Contributor or the LLC with any of the provisions hereof, will:

    

    (i)   violate,
      conflict with, result in a breach of any provision of, constitute a default
      (or
      an event that, with notice or lapse of time or both, would constitute
      a default) under, result in the termination of, accelerate the performance
      required
      by, or result in a right of termination or acceleration, or the creation of
      any
      lien,
      security interest, charge, or encumbrance upon any of the Property or other
      assets of the LLC, under any of the terms, conditions, or provisions of, the
      Articles of Organization or LLC Operating Agreement, or any note, bond,
mortgage,
      indenture, deed of trust, license, lease, agreement, or other instrument
or
      obligation to which the LLC is a party, or by which the LLC may be bound, or
      to
      which the LLC or its properties or assets may be subject; or

    

    (ii)   violate
      any judgment, ruling, order, writ, injunction, decree, statute, rule,
      or
      regulation applicable to the LLC or any of the LLC's properties or
      assets.

    

    (c)   Except
      for the Contributor, no party has any interest in the LLC or the Property or
      any
      portion thereof, or the right or option to acquire any interest in the LLC
      or
      the Property or any portion thereof. The LLC has no subsidiaries and does not
      directly or indirectly own any securities of or interest in any other entity,
      including, without limitation, any LLC or joint
      venture.

    

    (d)   The
      LLC
      has conducted no business other that the ownership and operation
      of the Property.

     

    3.8   Liabilities,
      Debts and Obligations.
      Except
      for the Continuing Liabilities, the LLC has
      no
      liabilities, debts or obligations.

    

    3.9    Tax
      Matters.

    

    (a)   Notwithstanding
      anything to the contrary contained in this Agreement, including
      without limitation the use of words and phrases such as "sell," "sale,"
      purchase," and "pay,"
      the parties hereto acknowledge and agree that it is their intent that the
      transaction contemplated
      hereby shall be treated for federal income tax purposes pursuant to Section
      721
      of the Internal Revenue Code of 1986, as amended, as the contribution of the
      Interests by the Contributor to the Acquiror in exchange for the Consideration,
      and not as a transaction in which any Contributor is acting other than in the
      capacity as a prospective partner in the Acquiror.

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

    

    (b)   Each
      Contributor represents and warrants that it has obtained from its own
counsel
      advice regarding the tax consequences of (i) the transfer of the Interests
      to
      the Acquirer and
      the
      receipt of the Consideration therefor, (ii) the Contributor's admission as
      a
      limited partner of
      the
      Acquiror, and (iii) any other transaction contemplated by this Agreement. Each
      Contributor further represents and warrants that it has not relied on the
      Acquiror or the Acquiror's representatives or counsel for such tax
      advice.

    

    (c)    The
      Contributor has caused the LLC to file within the time and in the manner
      prescribed by law all federal, state, and local tax returns and reports,
      including but not limited to income, gross receipts, intangible, real property,
      excise, withholding, franchise, sales, use,
      employment, personal property, and other tax returns and reports, required
      to be
      filed by the LLC under the laws of the United States and of each state or other
      jurisdiction in which the LLC conducts
      business activities requiring the filing of tax returns or reports. All tax
      returns and reports
      filed by the LLC are true and correct in all material respects. The LLC has
      paid
      in full all taxes of whatever kind or nature for the periods covered by such
      returns. The LLC has not been delinquent in the payment of any tax, assessment,
      or governmental charge or deposit and has no tax
      deficiency or claim outstanding, assessed, threatened, or proposed against
      it.
      The charges, accruals,
      and reserves for unpaid taxes on the books and records of the LLC as of the
      Closing Date
      are
      sufficient in all respects for the payment of all unpaid federal, state, and
      local taxes of the LLC accrued for or applicable to all periods ended on or
      before the Closing Date. There are no tax liens, whether imposed by the United
      States, any state, local, or other taxing authority, outstanding against the
      LLC
      or any of its assets. The federal, state, and local tax returns of the
LLC
      have
      not been audited, nor has the LLC or the Contributor received any notice of
      any
federal,
      state, or local audit. The LLC has not obtained or received any extension of
      time (beyond
      the Closing Date) for the assessment of deficiencies for any years or waived
      or
      extended the
      statute of limitations for the determination or collection of any tax. To the
      Contributor's Knowledge,
      no unassessed tax deficiency is proposed or threatened against the
      LLC.

    

    (d)    All
      taxes, including real property taxes and rental taxes or the equivalent,
and
      all
      interest and penalties due thereon, required to be paid or collected by the
      LLC
      in connection with the operation of the Property as of the Closing Date will
      have been collected and/or
      paid to the appropriate governmental authorities, as required or such amounts
      shall be pro- rated
      as
      of the Closing Date. The Contributor shall cause the LLC to file, all necessary
      returns and petitions required to be filed through the Closing Date. The
      Contributor shall cause the LLC to
      prepare and file all federal and state income tax returns for the tax period
      ending on the Closing
      Date, which shall reflect the termination for tax purposes of the
      LLC.

     

    3.10         
      Contracts
      and Agreements.
      There is
      no loan agreement, guarantee, note, bond, indenture and other debt instrument,
      lease and other contract to which the LLC is a party or by which its assets
      are
      bound other than Permitted Title Exceptions, the Leases, and the Operating
      Agreements.

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

    

    3.11         
      No
      Special Taxes.
      The
      Contributor has no Knowledge of, nor has he received any written notice of,
      any
      special taxes or assessments relating to the LLC or Property or any part thereof
      or any planned public improvements that may result in a special tax or
      assessment against the
      Property.

    

    3.12         
      Compliance
      with Existing Laws.
      The LLC
      possesses all Authorizations, each of which is valid and in full force and
      effect, and, to Contributor's Knowledge, no provision, condition
      or limitation of any of the Authorizations has been breached or violated. The
      LLC has not
      misrepresented or failed to disclose any relevant fact in obtaining all
      Authorizations, and the Contributor
      has no Knowledge of any change in the circumstances under which those
Authorizations
      were obtained that result in their termination, suspension, modification or
      limitation.
      The Contributor has no Knowledge, nor has he received written notice within
      the
      past three years, of any existing violation of any provision of any applicable
      building, zoning, subdivision,
      environmental or other governmental ordinance, resolution, statute, rule, order
      or regulation, including but not limited to those of environmental agencies
      or
      insurance boards of underwriters, with respect to the ownership, operation,
      use,
      maintenance or condition of the Property
      or any part thereof, or requiring any repairs or alterations other than those
      that have been made prior to the date hereof.

    

    3.13         
      Operating
      Agreements.
      The LLC
      has performed all of its obligations under each of the Operating Agreements
      and
      no fact or circumstance has occurred which, by itself or with the passage of
      time or the giving of notice or both, would constitute a material default under
      any of the Operating Agreements. Without the prior written consent of the
      Acquiror, which consent will
      not
      be unreasonably withheld or delayed, the Contributor shall cause the LLC not
      to
      enter into
      any
      new management agreement, maintenance or repair contract, supply contract,
      lease
      in which
      it
      is lessee or other agreements with respect to the Property, nor shall the
      Contributor cause
      the
      LLC to enter into any agreements modifying the Operating
      Agreements.

    

    3.14         
      Warranties
      and Guaranties.
      The
      Contributor shall cause the LLC not to release or modify any warranties or
      guarantees, if any, of manufacturers, suppliers and installers relating to
      the
      Improvements and the Tangible Personal Property or any part thereof, except
      with
      the prior written consent of the Acquiror, which consent shall not be
      unreasonably withheld or delayed. A complete
      list of all such warranties and guaranties in effect as of the date of this
      Agreement is attached
      hereto as Exhibit
      H.

    

    3.15         
      Insurance.
      All of
      the LLC's Insurance Policies are valid and in full force and effect,
      all premiums for such policies were paid when due and the Contributor shall
      cause the LLC
      to
      pay all future premiums for such policies (and any replacements thereof) on
      or
      before the due
      date
      therefor. The Contributor shall cause the LLC to pay all premiums on, and shall
      cause the
      LLC
      not to cancel or allow to expire, any of the LLC's Insurance Policies prior
      to
      the Closing Date unless such policy is replaced, without any lapse of coverage,
      by another policy or policies providing coverage at least as extensive as the
      policy or policies being replaced. The Contributor shall
      cause the LLC to name the Acquiror as an additional insured on each of the
      LLC's
Insurance
      Policies.

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

    3.16         
      Condemnation
      Proceedings; Roadways.
      The LLC
      has received no written notice of any condemnation or eminent domain proceeding
      pending or threatened against the Property or any part thereof. The Contributor
      has no Knowledge of any change or proposed change in the route, grade or width
      of, or otherwise affecting, any street or road adjacent to or serving the Real
      Property.

    

    3.17         
      Litigation
      with Respect to LLC.
      Except
      as set forth on Exhibit
      I
      there is
      no action,
      suit or proceeding pending or known to be threatened against or affecting the
      LLC or any part of or interest in the Property in any court, before any
      arbitrator or before or by any governmental agency which (a) in any manner
      raises any question affecting the validity or enforceability
      of this Agreement or any other material agreement or instrument to which the
      LLC
is
      a
      party or by which it is bound and that is or is to be used in connection with,
      or is contemplated
      by, this Agreement, (b) could materially and adversely affect the business,
      financial position
      or results of operations of the LLC, (c) could materially and adversely affect
      the ability of the LLC to perform its obligations hereunder, or under any
      document to be delivered pursuant hereto, (d) could create a material lien
      on
      the Property, any part thereof or any interest therein, or (e) could otherwise
      materially and adversely affect the Property, any part thereof or any interest
      therein or the use, operation, condition or occupancy thereof.

     

    3.18         
      Labor
      Disputes and Agreements.
      There
      are not currently any labor disputes pending
      or, threatened as to the operation or maintenance of the Property or any part
      thereof. The LLC is not a party to any union or other collective bargaining
      agreement with employees employed
      in connection with the ownership, operation or maintenance of the Property.
      The
Acquiror
      will not be obligated to give or pay any amount to any employee of the LLC,
      and
      the Acquiror shall not have any liability under any pension or profit sharing
      plan that the LLC may have
      established with respect to the Property or their or its employees.

     

    3.19         
      Financial
      Information.
      To the
      Contributor's Knowledge, except as otherwise disclosed
      in writing to the Acquiror prior to the end of the Study Period, for each of
      the
      LLC's accounting years, when a given year is taken as a whole, all of the LLC's
      financial information previously
      delivered or to be delivered to the Acquiror is and shall be correct and
      complete in all material
      respects and presents accurately the financial condition of the LLC and results
      of the operations of the Property for the periods indicated, except that such
      statements do not have footnotes or schedules that may otherwise be required
      by
      GAAP. If requested by the Acquiror, the
      Contributor shall cause the LLC to deliver promptly all four-week period ending
      financial information
      available to the LLC. The LLC's financial information is prepared based on
      books
and
      records maintained by the LLC in accordance with the LLC's accounting system.
      The LLC's financial
      information has been provided to the Acquiror without any changes or alteration
      thereto. To the best of Contributor's Knowledge, since the date of the last
      financial statement included
      in the LLC's financial information, there has been no material adverse change
      in
      the financial condition or in the operations of the Property.

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

    3.20         
      Organizational
      Documents.
      The
      LLC's Organizational Documents are in full force
      and
      effect and have not been modified or supplemented, and no fact or circumstance
      has occurred
      that, by itself or with the giving of notice or the passage of time or both,
      would constitute
      a default thereunder.

    

    3.21         
      Operation
      of Property.
      The
      Contributor covenants that between the date hereof and
      the
      Closing Date, Contributor shall cause the LLC to (a) operate the Property only
      in the usual,
      regular and ordinary manner consistent with the LLC's prior practice, (b)
      maintain the books
      of
      account and records in the usual, regular and ordinary manner, in accordance
      with sound accounting principles applied on a basis consistent with the basis
      used in keeping its books in
      prior
      years, and (c) use all reasonable efforts to preserve intact the present
      business organization,
      keep available the services of the present officers and employees and preserve
      their relationships
      with suppliers and others having business dealings with them. The Contributor
      shall
      cause the LLC to continue to make good faith efforts to take guest room
      reservations and to book functions and meetings and otherwise to promote the
      business of the Property in generally the
      same
      manner as the LLC did prior to the execution of this Agreement. Except as
      otherwise permitted hereby, from the date hereof until Closing, the Contributor
      shall use its good faith efforts
      to ensure that the LLC shall not take any action or fail to take action the
      result of which (i) would
      have a material adverse effect on the Property or the Acquiror's ability to
      continue the operation
      thereof after the Closing Date in substantially the same manner as presently
      conducted, (ii)
      reduce or cause to be reduced any room rents or any other charges over which
      Contributor has
      operational control, or (iii) would cause any of the representations and
      warranties contained in
      this
Article
      III
      to be
      untrue as of Closing.

    

    3.22         
      Bankruptcy
      with respect to LLC. 
No
      Act of Bankruptcy has occurred with respect to
      the
      LLC.

    

    3.23         
      Hazardous
      Substances. 
      Except for matters in LLC's or Acquiror's audits, Contributor
      has no Knowledge: (a) of the presence of any "Hazardous Substances" (as defined
      below) on the Property, or any portion thereof, or, (b) of any spills, releases,
      discharges, or disposal
      of Hazardous Substances that have occurred or are presently occurring on or
      onto
      the Property,
      or any portion thereof, or (c) of the presence of any PCB transformers serving,
      or stored on,
      the
      Property, or any portion thereof, and Contributor has no Knowledge of any
      failure to comply with any applicable local, state and federal environmental
      laws, regulations, ordinances and
      administrative and judicial orders relating to the generation, recycling, reuse,
      sale, storage, handling,
      transport and disposal of any Hazardous Substances (as used herein, "Hazardous
      Substances" shall mean any substance or material whose presence, nature,
      quantity or intensity of existence,
      use, manufacture, disposal, transportation, spill, release or effect, either
      by
      itself or in combination
      with other materials is either: (1) potentially injurious to the public health,
      safety or welfare,
      the environment or the Property, (2) regulated, monitored or defined as a
      hazardous or toxic substance or waste by any Governmental Body, or (3) a basis
      for liability of the owner of the
      Property to any Governmental Body or third party, and Hazardous Substances
      shall
      include, but not be limited to, hydrocarbons, petroleum, gasoline, crude oil,
      or
      any products, by-products or components thereof, and asbestos). Notwithstanding
      anything to the contrary contained herein Contributor
      shall have no liability to Acquiror for any Hazardous Substances of which
Contributor
      has no Knowledge.

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

    

    3.24         
      Room
      Furnishings.
      All
      public spaces, lobbies, meeting rooms, and each room in the
      Hotel
      available for guest rental is furnished in accordance with Licensor's standards
      for the Hotel
      and
      room type.

    

    3.25         
      License.

    

    (a)    The
      license from Holiday Hospitality Franchising, Inc., or its affiliate (the
"Licensor"),
      with respect to the Hotel (the "License") is, and at Closing will be, valid
      and
      in full force
      and
      effect, and on the Closing Date neither the Manager nor the LLC will be in
      default with respect
      thereto (with or without the giving of any required notice and/or lapse of
      time).

    

    (b)    The
      Manager and the LLC shall receive written approval from the Licensor
consenting
      to the contribution of the Interests and the Hotel to Acquiror as contemplated
      hereunder.

    

    (c)    Neither
      the execution, delivery, or performance by the Contributor of this Agreement,
      nor the consummation of the transactions contemplated hereby, nor compliance
      by
      the Contributor or the LLC with any of the provisions hereof, will violate,
      conflict with, result in a breach of any provision of, constitute a default
      (or
      an event that, with notice or lapse of time or both,
      would constitute a default) under, result in the termination of, accelerate
      the
      performance required by, or result in a right of termination under any of the
      terms, conditions, or provisions of,
      the
      License.

    

    3.26         
      Independent
      Audit.
      Contributor shall provide access by Acquiror's representatives,
      to all financial and other information relating to the Property and the
      LLC.

    

    3.27         
      Bulk
      Sale Compliance.
      Contributor shall indemnify Acquiror against any claim, loss or liability
      arising under the bulk sales law in connection with the transaction contemplated
      herein.

    

    3.28         
      Sufficiency
      of Certain Items.
      The
      Property contains not less than:

     

    (a)    a
      sufficient amount of furniture, furnishings, color television sets, carpets,
      drapes, rugs, floor coverings, mattresses, pillows, bedspreads and the like,
      to
      furnish each guest room,
      so
      that each such guest room is, in fact, fully furnished; and

     

    (b)    a
      sufficient amount of towels, washcloths and bed linens, so that there are
three
      sets of towels, washcloths and linens for each guest room (one on the beds,
      one
      on the shelves,
      and one in the laundry), together with a sufficient supply of paper goods,
      soaps, cleaning supplies
      and other such supplies and materials, as are reasonably adequate for the
      current operation of the Hotel.

     

    3.29         
      Intentionally
      Omitted.

    

    3.30         
      Leases.
      True,
      complete copies of the Leases, are attached as Exhibit D hereto. The Leases
      are,
      and will at Closing be, in full force and effect and neither Contributor nor
      the
LLC,
      is
      in default and the Contributor shall make good faith efforts for himself and
      the
      LLC not to
      be in
      default with respect thereto (with or without the giving of any notice and/or
      lapse of time).
      The Leases are, or will be at Closing, freely assignable by Contributor and
      Contributor will have obtained all consents of any third party necessary to
      assign the Leases to Acquiror.

    
      
        
        

      

      
        14

        
          

        

      

      
        
        

      

    

    

    3.31         
      Noncontravention.
      The
      execution and delivery of, and the performance by the Contributor
      of his obligations under this Agreement do not and will not contravene, or
      constitute a default under, any provision of applicable law or regulation,
      or
      any agreement, judgment, injunction,
      order, decree or other instrument binding upon the Contributor, or result in
      the
      creation of any lien or other encumbrance on any asset of the Contributor.
      There
      are no outstanding
      agreements (written or oral) pursuant to which the Contributor (or any
      predecessor to or
      representative of the Contributor) has agreed to contribute or has granted
      an
      option or right of first refusal to acquire the Interests or the Property or
      any
      part thereof.

    

    3.32         
      Securities
      Law Matters.
      Each
      Contributor is knowledgeable, sophisticated and experienced
      in business and financial matters and acknowledges that the sole general partner
      of the
      acquirer is a publicly traded real estate investment trust.

    

    3.33         
      Patriot
      Act Representations.
      Each
      Contributor and, to the actual knowledge of such
      Contributor, any direct or indirect owner of the LLC or such Contributor, (i)
      are not included on any Government List (as defined below), (ii) are not person
      who have been determined
      by competent authority to be subject to the prohibitions contained in the
      Presidential Executive Order No. 13224 or any other similar prohibitions
      contained in the rules and regulations of the OFAC or in any enabling
      legislation or other Presidential Executive Orders in respect thereof, (iii)
      have not been indicted or convicted of any Patriot Act Offenses, or (iv) are
      not
      currently under investigation by any governmental authority for alleged criminal
      activity. For purposes
      of this Agreement, (i) "Government List" means (A) the Specially Designated
      Nationals and
      Blocked Persons List maintained by OFAC, (B) any other list of terrorists,
      terrorist organizations
      or narcotics traffickers maintained pursuant to any of the Rules and Regulations
      of OFAC, or (C) any similar list maintained by the United States Department
      of
      State, the United States Department of Commerce or any other governmental
      authority or pursuant to any Executive Order of the President of the United
      States of America; (ii) "OFAC" means the Office of
      Foreign Asset Control, U.S. Department of the Treasury, (iii) "Patriot Act"
      means the Uniting and
      Strengthening America by Providing Appropriate Tools Required to Intercept
      and
      Obstruct Terrorism (USA PATRIOT ACT) Act of 2001, as the same may be amended
      from time to time, and
      corresponding provisions of future laws, and (iv) "Patriot Act Offense" means
      any violation of
      the
      criminal laws of the United States of America or of any of the several states,
      or that would be
      a
      criminal violation if committed within the jurisdiction of the United States
      of
      America or any
      of
      the several states, relating to terrorism or the laundering of monetary
      instruments, including any offense under (A) the criminal laws against
      terrorism, (B) the criminal laws against money laundering, (C) the Bank Secrecy
      Act, as amended, (D) the Money Laundering Control Act
      of
      1986, as amended, or (E) the Patriot Act and also includes the crimes of
      conspiracy to commit,
      or aiding and abetting another to commit, any of the foregoing.

    

    Each
      of
      the representations, warranties and covenants contained in this Article
      III
      and its
various
      subparagraphs are intended for the benefit of the Acquiror and may be waived
      in
      whole or in part, by the Acquiror, but only by an instrument in writing signed
      by the Acquiror. Each of said
      representations, warranties and covenants shall survive the closing of the
      transaction contemplated
      hereby for six (6) months, and no investigation, audit, inspection, review
      or
      the like conducted by or on behalf of the Acquiror shall be deemed to terminate
      the effect of any such representations,
      warranties and covenants, it being understood that the Acquiror has the right
      to
rely
      thereon and that each such representation, warranty and covenant constitutes
      a
      material inducement
      to the Acquiror to execute this Agreement and to close the transaction
      contemplated hereby and to pay the Consideration to the Contributor. Acquiror
      acknowledges and agrees that, except
      for the representations and warranties expressly set forth herein, Acquiror
      is
      acquiring the LLC and Property "AS-IS, WHERE-IS" with no representations or
      warranties by or from Contributor, express or implied, or any nature
      whatsoever.

    

    
      
        
        

      

      
        15

        
          

        

      

      
        
        

      

    

     

    ARTICLE
      IV

    

    ACQUIROR'S
      REPRESENTATIONS, WARRANTIES AND COVENANTS

    

    To
      induce
      the Contributor to enter into this Agreement and to sell the Interests,
the
      Acquiror hereby makes the following representations, warranties and covenants
      upon each of which
      the
      Acquiror acknowledges and agrees that the Contributor is entitled to rely and
      has relied:

    

    4.1    Organization
      and Power.
      The
      Acquiror is a limited partnership duly organized, validly
      existing and in good standing under the laws of the Commonwealth of Virginia,
      and has all
      partnership powers and all governmental licenses, authorizations, consents
      and
      approvals to carry
      on
      its business as now conducted and to enter into and perform its obligations
      under this Agreement
      and any document or instrument required to be executed and delivered on behalf
      of the Acquiror hereunder.

    

    4.2    Noncontravention.
      The
      execution and delivery of this Agreement and the performance by the Acquiror
      of
      its obligations hereunder do not and will not contravene, or constitute a
      default under, any provisions of applicable law or regulation, the Acquiror's
      partnership
      agreement or any agreement, judgment, injunction, order, decree or other
      instrument binding
      upon the Acquiror or result in the creation of any lien or other encumbrance
      on
      any asset of the Acquiror.

    

    4.3    Litigation.
      There is
      no action, suit or proceeding, pending or known to be threatened, against or
      affecting the Acquiror in any court or before any arbitrator or before any
      Governmental
      Body which (a) in any manner raises any question affecting the validity or
      enforceability of this Agreement or any other agreement or instrument to which
      the Acquiror is a party or by which it is bound and that is to be used in
      connection with, or is contemplated by, this Agreement,
      (b) could materially and adversely affect the ability of the Acquiror to perform
      its obligations
      hereunder, or under any document to be delivered pursuant hereto.

    

    4.4    Bankruptcy.
      No Act
      of Bankruptcy has occurred with respect to the Acquiror.

    

    4.5    No
      Brokers.
      The
      Acquiror has not engaged the services of, nor is it or will it become
      liable to, any real estate agent, broker, finder or any other person or entity
      for any brokerage or finder's fee, commission or other amount with respect
      to
      the transaction described herein.

    
      
        
        

      

      
        16

        
          

        

      

      
        
        

      

    

     

    ARTICLE
      V

    

    CONDITIONS
      AND ADDITIONAL COVENANTS

    

     The
      Acquiror's obligations hereunder are subject to the satisfaction of the
following
      conditions precedent and the compliance by the Contributor with the following
      covenants:

    

    5.1    Contributor's
      Deliveries.
      The
      Contributor shall have delivered to the Escrow Agent
      or
      the Acquiror, as the case may be, on or before the date of Closing, all of
      the
      documents and other information required of Contributor pursuant to Section
      6.2.

    

    5.2    Representations,
      Warranties and Covenants; Obligations of Contributor; Certificate.
      All of
      the Contributor's representations and warranties made in this Agreement shall
      be
      true and correct as of the date hereof and as of the Closing Date as if then
      made, there shall have
      occurred no material adverse change in the financial condition of the Property
      or the LLC since the date hereof, the Contributor shall have performed all
      of
      its material covenants and other obligations under this Agreement and the
      Contributor shall have executed and delivered to the Acquiror
      at Closing a certificate to the foregoing effect.

    

    5.3    Title
      Insurance.
      Good and
      indefeasible title to the leasehold interest in the Real Property
      shall be insurable as such by the Title Company at or below its regularly
      scheduled rates subject
      only to Permitted Title Exceptions as determined in accordance with Section
      2.2.

    

    5.4    Condition
      of Improvements.
      The
      Improvements and the Tangible Personal Property
      (including but not limited to the mechanical systems, plumbing, electrical,
      wiring, appliances,
      fixtures, heating, air conditioning and ventilating equipment, elevators,
      boilers, equipment, roofs, structural members and furnaces) shall be in the
      same
      condition at Closing as they are as of the date hereof, reasonable wear and
      tear
      excepted. Prior to Closing, the Contributor
      shall not have diminished the quality or quantity of maintenance and upkeep
      services heretofore provided to the Real Property and the Tangible Personal
      Property and the Contributor shall
      not
      have diminished the Inventory. The Contributor shall not have removed or caused
      or permitted
      to be removed any part or portion of the Real Property or the Tangible Personal
      Property unless the same is replaced, prior to Closing, with similar items
      of at
      least equal quality and acceptable to the Acquiror.

    

    5.5    Utilities.
      All of
      the Utilities shall be installed in and operating at the Property, and service
      shall be available for the removal of garbage and other waste from the
      Property.

    

    5.6    License.
      From the
      date hereof to and including the Closing Date, Contributor shall
      comply with and perform all of the duties and obligations of licensee under
      the
      License.

    

    5.7    Interests.
      From the
      date hereof to and including the Closing Date, Contributor shall not sell,
      assign, pledge, hypothecate or otherwise transfer the Interests, except as
      contemplated
      by this Agreement, nor shall the Contributor cause or permit the LLC to issue
      any securities
      or membership interests to any person or to sell, pledge, transfer or otherwise
      dispose of the Property or any interest therein.

    
      
        
        

      

      
        17

        
          

        

      

      
        
        

      

    

     

    ARTICLE
      VI 

    

    CLOSING

    

    6.1    Closing.
      Closing
      shall be held at a location that is mutually acceptable to the parties, on
      or
      before May 3, 2006.

    

    6.2    Contributor'
      Deliveries.
      At
      Closing, the Contributor shall deliver to Acquiror all of
      the
      following instruments, each of which shall have been duly executed and, where
      applicable, acknowledged
      on behalf of the Contributor and shall be dated as of the date of
      Closing:

     

    (a)    Certificates
      representing the Interests.

    

    (b)    The
      certificate required by Section
      5.2.

    

    (c)    The
      Assignment and Assumption Agreement.

    

    (d)    Certificate(s)/Registration
      of Title for any vehicle owned by the Contributor
      and used in connection with the Property.

    

    (e)    Such
      agreements, affidavits or other documents as may be required by the Title
      Company to issue the Owner's Title Policy with affirmative coverage over
      mechanics' and materialmen's liens.

    

    (f)    
The
      FIRPTA Certificate.

    

    (g)    True,
      correct and complete copies of all warranties, if any, of manufacturers,
      suppliers and installers possessed by the Contributor and relating to the
      Improvements and the Personal Property, or any part thereof.

    

    (h)    Copies
      of
      the LLC's Organizational Documents.

    

    (i)    
Appropriate
      consent of the LLC, authorizing (A) the execution of any documents
      to be executed and delivered by the LLC prior to, at or otherwise in connection
      with Closing
      and in connection with the transactions contemplated by this Agreement, and
      (B)
      the performance by the LLC of its obligations hereunder and under such
      documents.

    

    (j)    
Valid,
      final and unconditional certificate(s) of occupancy for the Real Property and
      Improvements, issued by the appropriate Governmental Body.

    

    (k)    Such
      proof as the Acquiror may reasonably require with respect to Contributor's
      compliance with the bulk sales laws or similar statutes.

     

    
      
        
        

      

      
        18

        
          

        

      

      
        
        

      

    

    (1)    A
      written
      instrument executed by the Contributor, conveying and transferring
      to the Acquiror all of the Contributor's right, title and interest in any
      telephone numbers
      and facsimile numbers relating to the Property, and, if the Contributor
      maintains a post office
      box, conveying to the Acquiror all of its interest in and to such post office
      box and the number
      associated therewith, so as to assure a continuity in operation and
      communication.

    

    (m)   All
      current real estate and personal property tax bills in the Contributor's
possession
      or under its control.

    

    (n)    A
      complete set of all guest registration cards, guest transcripts, guest
histories,
      and all other available guest information.

    

    (o)    An
      updated schedule of employees, showing salaries and duties with a statement
      of the length of service of each such employee, brought current to a date not
      more than 48
      hours
      prior to the Closing.

    

    (p)    A
      complete list of all advance room reservations, functions and the like, in
      reasonable
      detail so as to enable the Acquiror to honor the Contributor's commitments
      in
      that regard.

    

    (q)    A
      list of
      the Contributor's outstanding accounts receivable as of midnight on the date
      prior to the Closing, specifying the name of each account and the amount due
      the
Contributor.

    

    (r)    
Possession
      of the Property and all keys for the Property.

    

    (s)    All
      books, records, operating reports, appraisal reports, files and other
materials
      in the Contributor's possession or control which are necessary in the Acquiror's
      discretion
      to maintain continuity of operation of the Property.

    

    (t)    
To
      the
      extent permitted under applicable law, documents of transfer necessary to
      transfer to the Acquiror the Contributor's employment rating for workmens'
      compensation and state unemployment tax purposes.

    

    (u)    An
      assignment of all warranties and guarantees from all contractors and
      subcontractors, manufacturers, and suppliers in effect with respect to the
      Improvements.

    

    (v)    Complete
      set of "as-built" drawings for the Improvements as available in Contributor's
      possession.

    

    (w)    Such
      proof, reasonably acceptable to the Acquiror evidencing the payment by
      Contributor of all transfer taxes incurred in connection with the transactions
      contemplated by this
      Agreement.

    

    (x)    
Any
      other
      document or instrument reasonably requested by the Acquiror or
      required hereby.

     

    
      
        
        

      

      
        19

        
          

        

      

      
        
        

      

    

    6.3    Acquiror's
      Deliveries.
      At
      Closing, the Acquiror shall pay or deliver to the Contributor
      the following:

    

    (a)    The
      Consideration described in Section
      2.3.

    

    (b)    The
      Assignment and Assumption Agreement.

    

    (c)    Any
      other
      document or instrument reasonably requested by the Contributor
      or required hereby.

     

    6.4    Closing
      Costs.
      Each
      party shall pay its own legal fees and expenses. All filing fees, and recording
      or other similar taxes, and all charges for title insurance premiums shall
      be
paid
      by
      Acquiror. Acquiror shall pay all franchise license transfer fees, if any, in
      carrying out the transactions contemplated hereunder.

    

    6.5    Income
      and Expense Allocations.
      All
      income, except any Intangible Personal Property,
      and expenses with respect to the Property, determined in accordance with United
      States generally
      accepted accounting principles consistently applied, shall be allocated between
      the Contributor
      and the Acquiror. The Contributor shall be entitled to all income (including
      all
      cash box receipts and cash credits for unused expendables), and responsible
      for
      all expenses for the period of time up to but not including 12:01 a.m. on the
      Closing Date, and the Acquiror shall be entitled to all income and responsible
      for all expenses for the period of time from, after and including 12:01 a.m.
      on
      the Closing Date. Only adjustments for ground rent, if applicable, and real
      estate taxes shall be shown on the settlement statements (with such supporting
      documentation as the parties hereto may require being attached as exhibits
      to
      the settlement statements)
      and shall increase or decrease (as the case may be) the amount payable by the
      Acquiror.
      All other such adjustments shall be made by separate agreement between the
      parties and shall be payable by check or wire directly between the parties.
      Without limiting the generality of the foregoing, the following items of income
      and expense shall be allocated as of the
      Closing Date:

     

    (a)    Current
      and prepaid rents, including, without limitation, prepaid room receipts,
      function receipts and other reservation receipts.

    

    (b)    Real
      estate and personal property taxes.

    

    (c)    Amounts
      under the Operating Agreements.

    

    (d)    Utility
      charges (including but not limited to charges for water, sewer and
      electricity).

    

    (e)    Wages,
      vacation pay, pension and welfare benefits and other fringe benefits
      of all persons employed at the Property who the Acquiror elects to
      employ.

    

    (f)    
Value
      of
      fuel stored on the Property at the price paid for such fuel by the Contributor,
      including any taxes.

     

    
      
        
        

      

      
        20

        
          

        

      

      
        
        

      

    

    (g)    All
      prepaid reservations and contracts for rooms confirmed by Contributor
prior
      to
      the Closing Date for dates after the Closing Date, all of which Acquiror shall
      honor.

    

    The
      Tray
      Ledger shall be retained by the Contributor. The Contributor shall be required
      to pay all sales taxes and similar impositions currently up to the Closing
      Date.

    

    Acquiror
      shall not be obligated to collect any accounts receivable or revenues
accrued
      prior to the Closing Date for Contributor, but if Acquiror collects same, such
      amounts will be promptly remitted to Contributor in the form
      received.

    

    If
      accurate allocations cannot be made at Closing because current bills are not
      obtainable (as, for example, in the case of utility bills or tax bills), the
      parties shall allocate such income or expenses at Closing on the best available
      information, subject to adjustment upon receipt of the final bill or other
      evidence of the applicable income or expense. Any income received
      or expense incurred by the Contributor or the Acquiror with respect to the
      Property after the
      date
      of Closing shall be promptly allocated in the manner described herein and the
      parties shall
      promptly pay or reimburse any amount due. The Contributor shall pay at Closing
      all special assessments and taxes applicable to the Property.

    

    The
      certificates evidencing the Contributor's ownership of the Interests will be
      dated as of the Closing Date.

    

    ARTICLE
      VII

    

    CONDEMNATION:
      RISK OF LOSS

    

    7.1    Condemnation.
      In the
      event of any actual or threatened taking, pursuant to the power
      of
      eminent domain, of all or any portion of the Real Property, or any proposed
      sale
      in lieu thereof,
      the Contributor shall give written notice thereof to the Acquiror promptly
      after
      the Contributor
      learns or receives notice thereof. If all or any part of the Real Property
      is,
      or is to be, so
      condemned or sold, the Acquiror shall have the right to terminate this Agreement
      pursuant to Section
      8.3.
      If the
      Acquiror elects not to terminate this Agreement, all proceeds, awards and other
      payments arising out of such condemnation or sale (actual or threatened) shall
      be paid or assigned, as applicable, to the Acquiror at Closing.

    

    7.2    Risk
      of Loss.
      The risk
      of any loss or damage to the Property prior to the recordation of the Deed
      shall
      remain upon Contributor. If any such loss or damage to more than ten percent
      (10%) of the value of the Improvements occurs prior to Closing or any such
      loss
      or damage is uninsured or underinsured, the Acquiror shall have the right to
      terminate this Agreement pursuant to Section
      8.3.
      If the
      Acquiror elects not to terminate this Agreement, all insurance proceeds and
      rights to proceeds arising out of such loss or damage shall be paid or assigned,
      as applicable, to the Acquiror at Closing.

     

    
      
        
        

      

      
        21

        
          

        

      

      
        
        

      

    

     

    ARTICLE
      VIII

    LIABILITY
      OF ACQUIROR; INDEMNIFICATION BY CONTRIBUTOR;

    

    TERMINATION
      RIGHTS

    

    8.1    Liability
      of Acquiror.
      Except
      for any obligation expressly assumed or agreed to be
      assumed by the Acquiror hereunder and in the Assignment and Assumption
      Agreement, the Acquiror does not assume any obligation of the Contributor or
      any
      liability for claims arising out of any occurrence prior to
      Closing.

    

    8.2    Indemnification
      by Contributor.
      The
      Contributor hereby indemnifies and holds the Acquiror harmless from and against
      any and all suits, actions, claims, costs, penalties, damages, losses,
      liabilities and expenses, subject to Section
      9.11
      that may
      at any time be incurred
      by the Acquiror, whether before or after Closing, (i) as a result of any breach
      by the Contributor of any of his representations, warranties, covenants or
      obligations set forth herein or in any other document delivered by the
      Contributor pursuant hereto, (ii) relating to any suits, litigation or actions
      brought against any Contributor or the LLC prior to the Closing Date, (iii)
      in
      connection with any and all liabilities and obligations of the LLC occurring,
      accruing or arising prior
      to
      the Closing Date, and/or (iv) as a result of or in connection with the use
      or
      operation of the
      Property prior to the Closing Date.

    

    8.3    Termination
      by Acquiror.
      If any
      condition set forth herein cannot or will not be satisfied prior to Closing,
      or
      upon the occurrence of any other event that would entitle the Acquiror
      to terminate this Agreement and its obligations hereunder, and the Contributor
      fails to cure
      any
      such matter within five days after notice thereof from the Acquiror, the
      Acquiror, at its option
      and as its sole remedy, shall elect either (a) to terminate this Agreement
      and
      receive a refund
      of
      the entire Deposit, with interest, and all other rights and obligations of
      the
      Contributor and
      the
      Acquiror hereunder shall terminate immediately, or (b) to waive its right to
      terminate and,
      instead, to proceed to Closing.

    

    8.4    Termination
      by Contributor.
      If,
      prior to Closing, the Acquiror defaults in performing
      any of its obligations under this Agreement, and the Acquiror fails to cure
      any
      such default
      within five (5) business days after notice thereof from the Contributor, then
      the Contributor's sole remedy for such default shall be to terminate this
      Agreement.

    

    ARTICLE
      IX

    

    MISCELLANEOUS
      PROVISIONS

    

    9.1    Completeness;
      Modification.
      This
      Agreement constitutes the entire agreement between
      the parties hereto with respect to the transactions contemplated hereby and
      supersedes all
      prior
      discussions, understandings, agreements and negotiations between the parties
      hereto. This Agreement may be modified only by a written instrument duly
      executed by the parties hereto.

    

    9.2    Assignments.
      The
      Acquiror may assign its rights hereunder to any affiliate of Acquiror
      without the consent of the Contributor. No such assignment shall relieve the
      Acquiror of any of its obligations and liabilities hereunder.

     

    
      
        
        

      

      
        22

        
          

        

      

      
        
        

      

    

    9.3    Successors
      and Assigns.
      The
      benefits and burdens of this Agreement shall inure to
      the
      benefit of and bind the Acquiror and the Contributor and their respective party
      hereto.

    

    9.4    Days.
      If any
      action is required to be performed, or if any notice, consent or other
communication
      is given, on a day that is a Saturday or Sunday or a legal holiday in the
jurisdiction
      in which the action is required to be performed or in which is located the
      intended recipient
      of such notice, consent or other communication, such performance shall be deemed
      to be required, and such notice, consent or other communication shall be deemed
      to be given, on the first
      business day following such Saturday, Sunday or legal holiday. Unless otherwise
      specified herein, all references herein to a "day" or "days" shall refer to
      calendar days and not business days.

    

    9.5    Governing
      Law.
      This
      Agreement and all documents referred to herein shall be governed
      by and construed and interpreted in accordance with the laws of the Commonwealth
      of Massachusetts.

    

    9.6    Counterparts.
      To
      facilitate execution, this Agreement may be executed in as many counterparts
      as may be required. It shall not be necessary that the signature on behalf
      of
      both parties hereto appear on each counterpart hereof. All counterparts hereof
      shall collectively constitute
      a single agreement.

    

    9.7    Severability.
      If any
      term, covenant or condition of this Agreement, or the application
      thereof to any person or circumstance, shall to any extent be invalid or
      unenforceable, the
      remainder of this Agreement, or the application of such term, covenant or
      condition to other persons or circumstances, shall not be affected thereby,
      and
      each term, covenant or condition of this Agreement shall be valid and
      enforceable to the fullest extent permitted by law.

    

    9.8    Costs.
      Regardless of whether Closing occurs hereunder, and except as otherwise
      expressly provided herein, each party hereto shall be responsible for its own
      costs in connection with this Agreement and the transactions contemplated
      hereby, including without limitation fees of attorneys, engineers and
      accountants.

    

    9.9    Notices.
      All
      notices, requests, demands and other communications hereunder shall be in
      writing and shall be delivered by hand, transmitted by facsimile transmission,
      sent prepaid
      by Federal Express (or a comparable overnight delivery service) or sent by
      the
      United States
      mail, certified, postage prepaid, return receipt requested, at the addresses
      and
      with such copies
      as
      designated below. Any notice, request, demand or other communication delivered
      or sent
      in
      the manner aforesaid shall be deemed given or made (as the case may be) when
      actually delivered
      to the intended recipient.

    

      
        	 	 	
                If
                  to the Contributor:
                  c/o Hersha Group

              

      

      
        	 	 	
                148
                  Sheraton Drive, Box A

              

      

      
        	 	 	New
                Cumberland, PA 17070

        	 	 	
                Phone:
                  (717) 770-2405

              

      

      
        	 	 	
                Fax:
                  (717) 774-7383

              

      

    

    
      
        
        

      

      
        23

        
          

        

      

      
        
        

      

    

    
      	 	
              With
                a copy to:

            	
              Mayur
                Patel, Esquire

            

    

    
      	 	 	
              c/o
                Hersha Group 148 

            

    

    
      	 	 	
              Sheraton
                Drive, Box A New
                

            

    

    
      	 	 	
              Cumberland,
                PA 17070 

            

    

    
      	 	 	
              Phone:(717)770-2405
                Fax:
                

            

    

    
      	 	 	
              (717)
                774-7383

            

    

     

    

    
      	 	
              If
                to the Acquiror:

            	
              Hersha
                Hospitality Limited Partnership

            

    

    
      	 	 	
              148
                Sheraton Drive, Box A 

            

    

    
      	 	 	
              New
                Cumberland, PA 17070 

            

    

    
      	 	 	
              Phone:
                (717) 770-2405 

            

    

    
      	 	 	
              Fax:(717)774-7383
                Attn:
                

            

    

    
      	 	 	
              Ashish
                R. Parikh

            

    

    
 

    
      	 	
              With
                a copy to:

            	
              Lok
                Mohapatra, Esquire

            

    

    
      	 	 	
              Shah
                & Byler, LLP Perm 

            

    

    
      	 	 	
              Mutual
                Towers 510
                Walnut

            

    

    
      	 	 	
              Street,
                9th
                floor Philadelphia,
                

            

    

    
      	 	 	
              PA
                19106 Phone:
                (215)238-

            

    

    
      	 	 	
              1045
                Fax:
                (267)238-1874

            

    

     

    

    Or
      to
      such other address as the intended recipient may have specified in a notice
      to
      the other party.
      Any party hereto may change its address or designate different or other persons
      or entities to
      receive copies by notifying the other party and the Escrow Agent in a manner
      described in this Section.

    

    9.10         
      Incorporation
      by Reference.
      All of
      the exhibits attached hereto are by this reference incorporated herein and
      made
      a part hereof.

    

    9.11         
      Survival.
      All of
      the representations, warranties, covenants and agreements of the Contributor
      and
      the Acquiror made in, or pursuant to, this Agreement shall survive for a period
      of six (6) months following Closing and shall not merge into the Deed or any
      other document or instrument executed and delivered in connection herewith,
      except for the representations and warranties
      set forth in Sections 3.4, 3.7 and 3.9, which shall survive for periods
      coterminous with applicable
      statutes of limitations.

    

    9.12         
      Further
      Assurances.
      The
      Contributor and the Acquiror each covenant and agree to sign,
      execute and deliver, or cause to be signed, executed and delivered, and to
      do or
      make, or cause
      to
      be done or made, upon the written request of the other party, any and all
      agreements, instruments, papers, deeds, acts or things, supplemental,
      confirmatory or otherwise, as may be reasonably
      required by either party hereto for the purpose of or in connection with
      consummating the
      transactions described herein.

     

    
      
        
        

      

      
        24

        
          

        

      

      
        
        

      

    

    9.13         
      No
      Partnership.
      This
      Agreement does not and shall not be construed to create a partnership,
      joint venture or any other relationship between the parties hereto except the
      relationship of Contributor and Acquiror specifically established
      hereby.

    

    9.14         
      Time
      of Essence.
      Time is
      of the essence with respect to every provision hereof.

    

    9.15         
      Confidentiality.
      Contributor and its representatives, including any professionals representing
      Contributor, shall keep the existence and terms of this Agreement strictly
      confidential,
      except to the extent disclosure is compelled by law, and then only to the extent
      of such
      compulsion.

    

    [Signature
      Pages Follow]

     

    
      
        
        

      

      
        25

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, the Contributor and the Acquiror have caused this Agreement
      to be executed in their names by their respective duly-authorized
      representatives.

    
 

    
      	 	 	
              CONTRIBUTOR:

            
	 	 	 
	 	 	 	 	 
	 	 	
              By:
                

            	/s/
              Hasu P. Shah
	 	 	 	Hasu
              P. Shah, Member 
	 	 	 	 	 
	 	 	
              By:
                

            	/s/
              Kiran P. Patel
	 	 	 	Kiran
              P. Patel, Member 
	 	 	 	 	 
	 	 	
              By:
                

            	/s/
              Bharat C. Mehta
	 	 	 	Bharat
              C. Mehta, Member 
	 	 	 	 	 
	 	 	
              By:
                

            	/s/
              K.D. Patel
	 	 	 	K.D.
              Patel, Member 
	 	 	 	 	 
	 	 	
              ACQUIROR:

            
	 	 	 	 	 
	 	 	
              Hesha
                Hospitality Limited Partnership, 

            
	 	 	
              a
                Virginia limited partnership

            
	 	 	 	 	 
	 	 	
              By:
                

            	
              Hersha
                Hospitality Trust, a Maryland business trust, its sole general
                partner

            
	 	 	 	 	 
	 	 	 	
              By:

            	/s/
              Ashish R. Parikh
	 	 	 	 	
              Ashish
                R. Parikh, CFO 

            
	 	 	 	 	 
	 	 	
              LLC

            
	 	 	 
	 	 	
              44
                Cambridge Associates, LLC, 

            
	 	 	
              a
                Massachusetts limited liability company

            
	 	 	 	 	 
	 	 	
              By:
                

            	/s/
              Hasu P. Shah
	 	 	 	Hasu
              P. Shah, Manager 

    

     

    26Exhibit
      10.11

    AMENDMENT
      TO

     

    EMPLOYMENT
      AGREEMENT

     

    This
      Amendment to Employment Agreement (the “Amendment”)
      is made
      and entered into as of April 12 2006 (“Effective Date”) by and among Wintegra,
      Inc. a private company Incorporated under the laws of the State of Delaware,
      with its principal offices at Austin, Texas (the “Company”),
      and
Robert
      O’Dell,
      residing at 5604 Sedona Drive, Austin Texas, 78759 (the “Employee”).
      

     

    WHEREAS,
      the Company and the Employee previously executed an Employment Agreement dated
      9
      Feb, 2000 (the "Prior
      Agreement")
      

     

    WHEREAS,
      the Company and the Employee desire to amend certain of the terms of the
      employment of Employee

     

    NOW,
      THEREFORE, in consideration of the promises and the mutual covenants, terms
      and
      conditions hereinafter set forth, and for other good and valuable consideration,
      the receipt of which is hereby specifically acknowledged, the parties hereto
      agree as follows:

     

    1.
       Severance

    Without
      derogation of Section 3.2(a) of the Prior Agreement, upon termination of
      employment from the Company for any reason, Employee shall receive payment
      of
      either the amounts set forth in Section 1.1 or Section 1.2 below in
      consideration of Employee's undertaking not to compete with the
      Company.

    

    
      	 	
              1.1

            	
              Involuntary
                Termination.
                If the Company terminates Employee’s employment with the Company for
                reasons other than Cause, death or Disability, or Employee resigns
                from
                his employment with the Company due to a Constructive Termination,
                then
                Employee shall be entitled to receive continuing payments of severance
                pay
                (less applicable tax withholding) at the Salary as then in effect,
                for a
                period of three (3) months from the Termination Date, payable in
                accordance with the Company’s normal payroll
                policies.

            

    

    
      

      
        	 	
                1.2

              	
                Change of Control Severance.
                  If within twelve (12) months of a Change of Control of the Company,
                  the
                  Company terminates Employee’s employment with the Company for reasons
                  other than Cause, death, or Disability or Employee resigns from
                  his
                  employment with the Company due to a Constructive Termination,
                  Employee
                  will be entitled to receive:

              

      

       

    

    
      	(a)      	
              Continuing
                payments of severance pay (less applicable tax withholding) of Salary
                as
                then in effect, for a period of six (6) months from the Termination
                Date,
                payable in accordance with the Company’s normal payroll
                policies;

            

    

     

    
      	(b)      	
              Vesting
                as of the Termination Date of fifty percent (50%) of all unvested
                options
                granted to Employee; and

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	(c)      	
              Extension
                of the exercise period enabling Employee to exercise his options
                through
                the first anniversary of the Termination Date; notwithstanding, in
                no case
                shall the exercise period be extended beyond the maximum term of
                the
                options. Additionally, the exercise period of the options may not
                be
                extended beyond the later to occur of (x) the fifteenth day of the
                third
                month after the options would have otherwise expired due to the
                termination of Employee's employment, or (y) the end of the calendar
                year
                during which the options would have otherwise expired due to termination
                of Employee's employment.

            

    

     

    2. Definitions.

    
      	(a)      	
              Cause.
                For purposes of this Amendment, “Cause” is defined as:
                

            

    

     

    
      	i.  	
              an
                act of dishonesty made by Employee in connection with Employee's
                responsibilities as an employee; 

            

    

     

    
      	ii.  	
              Employee's
                conviction of, or plea of nolo
                contendere
                to, a felony; 

            

    

     

    
      	iii.  	
              Employee's
                gross misconduct; or 

            

    

     

    
      	iv.  	
              Employee's
                continued substantial violations of his employment duties after Employee
                has received a written demand for performance from the Company which
                specifically sets forth the factual basis for the Company's belief
                that
                Employee has not substantially performed his
                duties.

            

    

     

    
      	(b)      	
              Change
                of Control.
                For purposes of this Agreement, “Change of Control” is defined as:
                

            

    

     

    
      	i.  	
              any
                “person” (as such term is used in Sections 13(d) and 14(d) of the
                Securities Exchange Act of 1934, as amended) is or becomes the “beneficial
                owner” (as defined in Rule 13d-3 under said Act), directly or
                indirectly, of securities of the Company representing fifty percent
                (50%)
                or more of the total voting power represented by the Company's then
                outstanding voting securities; 

            

    

     

    
      	ii.  	
              a
                change in the composition of the Board of Directors of the Company
                occurring within a two (2) year period, as a result of which fewer
                than a
                majority of the directors are Incumbent Directors. “Incumbent Directors”
                will mean directors who either (A) are directors of the Company as of
                the date of the consummation of the Company's public offering, or
                (B) are elected, or nominated for election, to the Board of Directors
                of the Company with the affirmative votes of at least a majority
                of the
                Incumbent Directors at the time of such election or nomination (but
                will
                not include an individual whose election or nomination is in connection
                with an actual or threatened proxy contest relating to the election
                of
                directors to the Company); 

            

    

     

    
      	iii.  	
              the
                date of the consummation of a merger or consolidation of the Company
                with
                any other corporation that has been approved by the stockholders
                of the
                Company, other than a merger or consolidation which would result
                in the
                voting securities of the Company outstanding immediately prior thereto
                continuing to represent (either by remaining outstanding or by being
                converted into voting securities of the surviving entity) more than
                fifty
                percent (50%) of the total voting power represented by the voting
                securities of the Company, or such surviving entity outstanding
                immediately after such merger or consolidation, or the stockholders
                of the
                Company approve a plan of complete liquidation of the Company; or
                

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	iv.  	
              the
                date of the consummation of the sale or disposition by the Company
                of all
                or substantially all the Company's
                assets.

            

    

     

    
      	(c)      	
              Constructive
                Termination.
                “Constructive Termination” means Employee’s resignation from his
                employment within ninety (90) days, plus any applicable thirty (30)
                day
                cure period, following the occurrence of any of the following without
                Employee’s consent: 

            

    

     

    
      	i.  	
              a
                significant reduction of Employee’s duties, position or responsibilities
                relative to Employee’s duties, position or responsibilities in effect
                immediately prior to such reduction; provided, however, that a reduction
                in duties, position or responsibilities solely by virtue of the Company
                being acquired and made part of a larger entity will not constitute
                a
                “Constructive Termination”; or 

            

    

     

    
      	ii.  	
              a
                reduction of more than ten percent (10%) by the Company of Employee’s
                Company Salary as in effect either on the Effective Date or immediately
                prior to such reduction (other than as part of an overall reduction
                applicable to similarly situated senior Employees of the Company
                or its
                successor). 

            

    

     

    
      	(d)      	
              In
                each case, prior to Employee being permitted to resign from his employment
                due to a “Constructive Termination”, the Company will have thirty (30)
                days to cure any such alleged breach, assignment, reduction or
                requirement, after Employee provides the Company written
                notice of the actions or omissions constituting such breach, assignment,
                reduction or requirement.

            

    

     

    
      	(e)      	
              Disability.
                “Disability” means that Employee is determined by the Company to be
                disabled under the provisions of the Disability Insurance, and Employee
                has received long-term disability benefits for a period of at least
                three
                (3) months under such plan.

            

      
         

        	(f)      	
                Termination
                  Date.
                  Subject to the requirements of Section 3.2(a) of the Prior Agreement,
                  “Termination Date” means the effective date of any notice of termination
                  of employment delivered by one party to the
                  other.

              

      

    

     

    3 Conditions
      to Receive Severance Package.
      The
      severance payments described in this Amendment will be provided to Employee
      only
      if Employee executes and delivers to the Company, and does not revoke, a
      general release of claims in a form acceptable to the Company.

     

    4. Amendments.
      Appendix A, attached hereto, shall supersede Sections 6,7,8 and 9 of the Prior
      Agreement.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    5. Prior
      Agreement.
      The
      rights described in this Amendment are in addition to any rights granted to
      Employee in the Prior Agreement. All terms and conditions of the Prior Agreement
      that are not specifically amended by this Amendment shall remain in full force
      and effect.

    

     

    IN
      WITNESS WHEREOF, the Company and the Employee have executed this Amendment,
      as
      of the day and year first above written.

     

     

    
      	 	 	 	 
	/s/
              Jacob Ben-Zvi	 	 	/s/
              Robert O'Dell
	
              
                

              

              WINTEGRA
                INC.

            	 	 	
              
                

              

              ROBERT
                O'DELL

            
	 	 	 	 
	By: Jacob Ben-Zvi	 	 	
            
	
              
                

              

            	 	 	 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    APPENDIX
      A

    

    Confidentiality,
      Non-competition and Proprietary Information Agreement

    

    

    My
      obligations under this Confidentiality and Intellectual Property Assignment
      Agreement (hereafter “Agreement”) are towards (i) Wintegra Inc. (the “Company”)
      (ii) its present and future parent companies, subsidiaries and affiliates and
      successors. All of the aforementioned entities shall be referred to collectively
      as the “Company’s Entities”. As a condition of my employment with Wintegra Inc.,
      its parents, subsidiaries, affiliates, successors or assigns (collectively,
      the
“Company”) and in consideration of my receipt of confidential information upon
      execution of this Agreement and my receipt of the compensation now and hereafter
      paid to me by Company, I agree to the following terms and conditions of this
      Confidentiality, Non-competition and Proprietary Information Agreement (the
      “Agreement”) which shall be effective as of the date set forth in the signature
      block (“Effective Date”) 

    

    1.     Confidentiality

    

    I
      will
      regard and retain as confidential and will not divulge to any third party,
      or
      use for any unauthorized purposes either during or after the term of my service
      with the Company, any Confidential Information, as defined below, that I have
      acquired during my service or in connection with my service or contacts with
      the
      Company’s Entities, except as necessary in the ordinary course of performing my
      authorized duties on behalf of the Company’s Entities.

    

    2.     Confidential
      Information

    

    “Confidential
      Information” shall include, but will not be limited to, information regarding
      research and development related to actual or anticipated products, inventions,
      whether patentable or non-patentable, hardware, software or other products,
      methods of manufacture, trade secrets, business plans, customer lists, finances,
      and any other data or information related to the business or affairs of any
      of
      the Company's Entities. Confidential Information will include information in
      written, oral or any other format. 

    

    Immediately
      upon execution of this Agreement, the Company agrees to provide me with certain
      Confidential Information regarding the Company, regardless of whether or not
      I
      am employed by the Company at such time (“Initial Disclosure”). Following the
      Initial Disclosure of Confidential Information, the Company may make available
      to me additional Confidential Information that will enable me to optimize the
      performance of my duties to the Company. Except for the Initial Disclosure,
      I
      agree that the Company will have no obligation to make available to me any
      of
      its Confidential Information after the termination of my employment

    

    3.    Return
      of Confidential Information 

    

    All
      materials including, but not limited to, documents, notes, memoranda, records,
      diagrams, blueprints, bulletins, formulas, reports, computer programs,
      databases, and any other material of any kind and in any form that contains
      Confidential Information, coming into my possession or prepared by me in
      connection with my service, are the exclusive property of the Company’s Entities
      (hereinafter the “Documents”). I agree to return to the Company’s Entities all
      such Documents upon termination of my employment, unless I acquire the Company’s
      specific written consent to release any such Document.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    4.    Ownership
      Rights

    

    Without
      additional compensation and consideration, I hereby assign and will in the
      future irrevocably assign to the Company, and acknowledge and will in the future
      acknowledge the Company’s exclusive right (including any ‘moral’ right),
      domestic and foreign, to any and all intellectual property, including, without
      limitations, all inventions, mask works, discoveries, and works of authorship,
      whether capable of being patented or copyrighted or not, which I may conceive,
      make, develop, author, or work on, in whole or in part, independently, or
      jointly with others, during the term of my employment with the Company, which
      are either (i) related to the Company’s Entities’ business; (ii) related to the
      Company’s Entities’ research and development; (iii) developed in whole or in
      part on the Company’s time or with the use of any Company’s equipment, supplies,
      facilities, or trade secret; or (iv) result directly or indirectly from any
      work
      I performed for the Company (hereinafter the “Company’s Entities’ Intellectual
      Property”). To the extent allowed by applicable law, I agree to waive any moral
      rights I may have in the Company’s Entities’ Intellectual Property.

    

    5.    Disclosure
      and Record of Inventions

    

    I
      will
      promptly disclose and describe to the Company all of the inventions contained
      within the Company’s Entities’ Intellectual Property (hereinafter the
“Inventions”). I agree to keep and maintain adequate and current written records
      of all Inventions during the term of my employment with the Company’s Entities.
      The records will be in the form of notes, sketches, drawings and any other
      format that may be specified by the Company’s Entities. The records will be
      available to and remain the Company’s Entities’ sole property at all
      times.

    

    6.    Employee
      Assistance

    

    I
      will,
      at the Company’s Entities’ expense, assist in preparation and registration of
      patents and any other intellectual property right in favor of the Company’s
      Entities, in any jurisdiction deemed appropriate by the Company’s Entities. Such
      assistance shall include, without limitation, the preparation of documents,
      drawings and other data and execution of assignments, applications and other
      forms. I agree to perform this obligation during and after my service with
      the
      Company’s Entities. In order to give full effect to this section I hereby
      irrevocably appoint the Company’s Entities (and their representatives) as my
      attorneys in fact, authorized in my name and on my behalf to execute all such
      documents.

    

    7.    No
      Conflicting Obligations

    

    I
      will
      not disclose to the Company’s Entities any proprietary or confidential
      information belonging to any third party, including any prior or current
      employer or contractor, unless I have first received the written approval of
      that third party and present it to the Company’s Entities. I undertake not to
      perform any activity related to my employment with the Company’s Entities on the
      premises of any third party, or while using any equipment or materials that
      belong to any such third party, unless instructed to do so by the Company’s
      Entities.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    8.    Third
      Party Information

    

    I
      recognize that the Company’s Entities have received and will in the future
      receive from third parties such third parties’ confidential or proprietary
      information, subject to a duty on the Company’s Entities’ part to maintain the
      confidentiality of such information and to use it only for certain limited
      purposes. I agree to hold all such confidential or proprietary information
      in
      the strictest confidence and not to disclose it to any person or entity or
      to
      use it except as necessary in carrying out my services for the Company’s
      Entities, consistent with the Company’s Entities’ agreement with such third
      party.

    

    9.    Non-Solicitation

    

    I
      agree
      that for a period of one (1) year immediately following the termination of
      my
      relationship with the Company’s Entities for any reason, whether with or without
      cause, at the option either of the Company’s Entities or myself, with or without
      notice, I will not, either directly or indirectly, solicit, induce, recruit
      or
      encourage any of the Company’s Entities’ employees to leave their employment, or
      hire or take away such employees, or attempt to solicit, induce, recruit,
      encourage, hire or take away employees of the Company’s Entities, either for
      myself or for any other person or entity.

    

    10.   Covenant
      Not to Compete.

    

    I
      agree
      that during the course of my employment and for a period of one (1) year
      immediately following the termination of my relationship with the Company for
      any reason, whether with or without cause, at the option either of the Company
      or myself, with or without notice, I will not, either directly or indirectly,
      (i) serve as an advisor, agent, consultant, director, employee, officer,
      partner, proprietor or otherwise of, (ii) have any ownership interest in (except
      for passive ownership of one percent (1%) or less of any entity whose securities
      have been registered under the Securities Act of 1933, as amended, or
      Section 12 of the Securities Exchange Act of 1934, as amended) or (iii)
      participate in the organization, financing, operation, management or control
      of,
      any business in competition with the Company’s Entities business as conducted by
      the Company during the course of my employment with the Company. The foregoing
      covenant shall cover my activities in every part of the Territory. “Territory”
shall mean (i) all counties in the State of Texas, (ii) all other states of
      the
      United States of America and (iii) all other countries of the world; provided
      that, with respect to clauses (ii) and (iii), the Company’s Entities maintain
      non-trivial operations, facilities, or customers in such geographic area prior
      to the date of the termination of my relationship with the Company.

    

    I
      acknowledge that my fulfillment of the obligations contained in this Agreement,
      including, but not limited to, my obligation neither to use, except for the
      benefit of the Company’s Entities, or to disclose the Confidential Information
      of the Company’s Entities and my obligation not to compete contained in the
      preceding paragraph is necessary to protect the Company’s Entities’ Confidential
      Information and to preserve the Company’s Entities value and goodwill. I further
      acknowledge the time, geographic and scope limitations of my obligations under
      the paragraph above are reasonable, especially in light of the Company’s
      Entities desire to protect its Confidential Information, and that I will not
      be
      precluded from gainful employment if I am obligated not to compete with the
      Company Entities during the period and within the Territory as described
      above.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    The
      covenants contained in the first paragraph of this Section 10 shall be construed
      as a series of separate covenants, one for each city, county and state of any
      geographic area in the Territory. Except for geographic coverage, each such
      separate covenant shall be deemed identical in terms to the covenant contained
      in the first paragraph of this Section 10. If, in any judicial proceeding,
      a
      court refuses to enforce any of such separate covenants (or any part thereof),
      then such unenforceable covenant (or such part) shall be eliminated from this
      Agreement to the extent necessary to permit the remaining separate covenants
      (or
      portions thereof) to be enforced. In the event the provisions of the first
      paragraph of this Section 10 are deemed to exceed the time, geographic or scope
      limitations permitted by applicable law, then such provisions shall be reformed
      to the maximum time, geographic or scope limitations, as the case may be, then
      permitted by such law.

    

    11.   Interference

    

    I
      agree
      that during the course of my employment and for a period of one (1) year
      immediately following the termination of my relationship with the Company’s
      Entities for any reason, whether with or without cause, at the option either
      of
      the Company’s Entities or myself, with or without notice, I will not, either
      directly or indirectly, interfere with the Company’s Entities’ customer
      relationships.

    

    12.   Breach
      of Obligation

    

    I
      am
      aware that a breach of any of the obligations under this Agreement will cause
      the Company’s Entities’ serious and irreparable harm, to which no monetary
      compensation can be an appropriate remedy. Therefore, I agree that if such
      a
      breach occurs, the Company’s Entities shall be entitled, without prejudice, to
      take all legal means necessary, including any injunctive relief, to restrain
      any
      continuation or further breach of this Agreement, without any objection from
      me
      and without the necessity of posting bond.

    

    
      
        13.   Assignment

      

    

    

    This
      Agreement may be assigned by the Company. I may not assign or delegate my
      obligations under this Agreement without the Company's prior written approval.
      Any purported assignment in violation of this section shall be null and
      void.

    

    
      
        14.   Survival

      

    

    

    My
      obligations under this Agreement, except those set out in Sections 9 and 10
      (which shall be enforceable on the terms described) shall remain in full force
      after termination, for any reason, of my employment with the
      Company.

    

    
      
        15.   Condition
          to Employment

      

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    I
      acknowledge that execution of this Agreement is a condition to the Company's
      Entities’ engagement with me and the disclosure of the Initial Disclosure.

    

    

    
      	
              Robert
                O'Dell

            	
              /s/
                Robert O'Dell

            	
              12
                April, 2006

            
	
              
                

              

              Name
                of Employee

            	
              
                
Signature

            	
              
                
Date

            

    

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

      

        EMPLOYMENT
          AGREEMENT

         

        This
          Employment Agreement (the “Agreement”)
          is made
          and entered into as of February 9, 2000 (“Effective Date”) by and among
          Wintegra, Inc. a private company Incorporated under the laws of the State
          of
          Delaware, with its principal offices at Austin, Texas (the “Company”),
          and
Robert
          O’Dell,
          residing at 5604 Sedona Drive, Austin Texas, 78759 (the “Employee”).
          

         

        WHEREAS,
          the Company desires to employ and secure for itself the services of the
          Employee
          upon the terms and subject to the conditions specified herein; and

         

        WHEREAS,
          the Employee desires to accept employment with the Company upon the terms
          and
          subject to the conditions specified herein;

         

        NOW,
          THEREFORE, in consideration of the promises and the mutual covenants, terms
          and
          conditions hereinafter set forth, and for other good and valuable consideration,
          the receipt of which is hereby specifically acknowledged, the parties hereto
          agree as follows:

         

        1.    EMPLOYMENT.
          

         

        	1.1.  	
                The
                  Company hereby employs the Employee in the capacity of Vice President
                  of
                  Marketing upon the terms and subject to the conditions set forth
                  below.
                  The Employee hereby accepts employment with the Company upon the
                  terms and
                  subject to the conditions set forth below. This agreement is personal
                  and
                  shall not invoke the provisions of any collective bargaining agreement
                  or
                  arrangement, whether presently existing or that shall exist in
                  the future,
                  except and only to the extent so mandated by
                  law.

              

         

        	1.2.  	
                The
                  Employee understands and agrees that the Company reserves the right,
                  in
                  its sole discretion, to make personnel changes, including without
                  limitation, changes in the Employee’s position (title, scope, reporting
                  structure, duties and responsibility) for the Company’s own purposes,
                  without limitation, and without incurring any
                  liability.

              

         

        2.    DUTIES
          .
          

         

        	2.1.  	
                The
                  Employee agrees to devote his full business time, attention, best
                  efforts
                  and ability to the affairs of the Company. He shall report to Jacob
                  Ben-Zvi and shall be subject to the direction and control of the
                  Board of
                  Directors. The Employee shall have primary responsibility for operating
                  and managing the Marketing, and Systems and Applications Engineering
                  functions of the Company and such other duties as may be assigned
                  to the
                  Employee from time to time by the President of the Company or the
                  Board of
                  Directors. 

              

         

        
          
            
            

          

          
            -1-

            
              

            

          

          
            
            

          

        

         

        	2.2.  	
                The
                  Employee acknowledges that his capacity as Vice President of Marketing
                  is
                  a fiduciary position and requires a special degree of trust. Employee
                  also
                  acknowledges that his duties and responsibilities may entail irregular
                  work hours and extensive traveling, for which he is adequately
                  rewarded by
                  the compensation provided for in this Agreement.
                  

              

         

        	2.3.  	
                When
                  the Employee performs services for the Company, the Employee shall
                  be, at
                  all times, an employee of the Company. While performing services
                  for the
                  Company, the Employee shall not engage in any activities that,
                  in the
                  Company’s opinion, may interfere or conflict with the proper discharge
                  of
                  his duties.

              

         

        	2.4.  	
                The
                  Employee shall not be entitled to engage in any other business
                  activity,
                  unless the Board of Directors has approved in advance such
                  engagement.

              

         

        3.    AT-WILL
          EMPLOYMENT.
          

         

        	3.1.  	
                Employee’s
                  employment with Company is At-Will
                  and not for any specified period. Employee’s employment may be terminated
                  at any time, with or without cause by either Employee or Company,
                  subject
                  to the notice provisions set forth below. In addition, Company
                  reserves
                  the right to modify Employee’s position or duties to meet business needs
                  and to use discretion in deciding on appropriate discipline. No
                  representative of the Company, other than the Chief Executive Officerhas
                  the authority to alter the at-will employment relationship. Any
                  change to
                  the at-will employment relationship must be by specific, written
                  agreement
                  signed by Employee and the Chief Executive Officer. Nothing in
                  this
                  Agreement is intended to or should be construed to contradict,
                  modify or
                  alter this at-will relationship.

              

         

        	3.2.  	
                The
                  Agreement and the Employee’s employment may be terminated at any time for
                  any reason in accordance with the following notice
                  provisions:

              

         

        
          	(One)   
                  	
                  at
                    any time at the option of either party upon ninety (90) days
                    prior written
                    notice (“Prior
                    Notice”); 

                

        

         

        	(Two)  	
                immediately
                  for cause. For purposes of this Agreement, an event or occurrence
                  constituting “cause” includes but is not limited
                  to:

              

         

        	(a)  	
                Dishonesty
                  of the Employee affecting the Company as decided by the Company
                  in its
                  sole and absolute discretion;

              

         

        	(b)  	
                A
                  serious breach of trust including theft, embezzlement, self-dealing,
                  prohibited disclosure to unauthorized persons or entities of confidential
                  or proprietary information of or relating to the Company, all in
                  the sole
                  and absolute discretion of the Company;

              

         

        
          
            
            

          

          
            -2-

            
              

            

          

          
            
            

          

        

         

        	(c)  	
                The
                  Employee’s conviction of a felony or of any crime involving moral
                  turpitude, fraud or misrepresentation. The conviction may or may
                  not
                  relate to the Company;

              

         

        	(d)  	
                Any
                  gross negligence or bad-faith conduct of the Employee resulting
                  in
                  material loss to the Company or any of its affiliated companies
                  or
                  material damage to the reputation of the Company or any of its
                  subsidiaries; and

              

         

        
          	(e)  
                  	
                  Any
                    material breach of this Agreement.

                

        

         

        	3.3.  	
                Section
                  3.2 above does not and shall not be construed to change the At-Will
                  nature
                  of the Employee's employment with the
                  Company.

              

         

        	3.4.  	
                In
                  the event of a termination of this Agreement according to section
                  ‎3.2(One)
                  pursuant to a Prior Notice, the Employee shall continue to render
                  services
                  to the Company during the Prior Notice period, Nevertheless, the
                  Company
                  shall have the right not to take advantage of the full Prior Notice
                  period
                  and may terminate the employment relationship at any time during
                  the Prior
                  Notice period. In the event of such termination, the Company shall
                  continue to pay the Employee his salary and benefits through the
                  remainder
                  of the Prior Notice period.

              

         

        	3.5.  	
                For
                  the avoidance of any doubt, it is hereby expressed that the Company
                  reserves the right not to take advantage of the full Prior Notice
                  period
                  in both the event the notice of termination of employment was delivered
                  by
                  it or in the event that the it was delivered by the Employee (in
                  which
                  case it shall not constitute a dismissal of employment by the Company).
                  

              

         

        	3.6.  	
                All
                  such payments shall be less deductions for all applicable taxes
                  and
                  withholdings under any relevant laws. The Company shall have no
                  further
                  obligation to make any salary payments or provide any benefits
                  to the
                  Employee, except as required by applicable
                  law.

              

         

        	3.7.  	
                The
                  Employee undertakes that immediately upon the termination of his
                  employment with the Company, for any reason, he shall act as
                  follows:

              

         

        	(One)  	
                he
                  shall deliver and/or return to the Company all the documents, CDs,
                  diskettes or other magnetic media, letters, notes, reports, business
                  cards
                  and other papers in his possession and relating to his employment
                  with the
                  Company, as well as any equipment and/or other property belonging
                  to the
                  Company which was placed at his disposal, including any company
                  car,
                  telephone instruments, modems, computers, employee's badge or other
                  equipment;

              

         

        
          
            
            

          

          
            -3-

            
              

            

          

          
            
            

          

        

         

        	(Two)  	
                he
                  shall delete any information relating to the Company or its business
                  from
                  his personal computer, if any;

              

         

        	(Three)  	
                he
                  shall coordinate his resignation with his supervisors, including
                  the
                  orderly handing over of his position according to the timetable
                  determined
                  by the Board of Directors, and he shall hand over in an orderly
                  fashion
                  and in accordance with the Company procedures his position, the
                  documents
                  and all the other matters dealt with by him to whomever the Company
                  instructs, and all to the satisfaction of the Company.
                  

              

         

        4.    BASE
          ANNUAL SALARY.

         

        As
          compensation for services rendered hereunder, the Company shall pay the
          Employee
          a gross annual salary of US$ 120,000 (the "Salary")
          paid in
          monthly installments in accordance with the Company’s normal payroll practice,
          less all applicable state and federal withholding tax, social security
          and all
          other employment taxes or authorized payroll deductions. The
          Company
          will
          periodically review Employee’s performance and adjustments to salary or other
          compensation, if any, will be made by the Company in its sole and absolute
          discretion.

         

        5.    BENEFITS.

         

        	5.1.  	
                In
                  addition to the Salary set forth in paragraph ‎42
                  above, the Employee shall receive the following benefits, and only
                  such
                  benefits, from the Company , it being understood that any wage
                  based
                  benefits shall be calculated exclusively on the basis of the Salary:
                  

              

         

        
          	(One)    
                  	
                  Vacation.
                    The Employee shall be entitled to ten (10) business days of vacation
                    per
                    year.  

                

        

         

        
          	(Two)    
                  	
                  Holiday.
                    The Employee shall be entitled to ten (10) days of holidays per
                    year.

                

        

         

        	(Three)  	
                Sick
                  Leave.
                  The Employee shall be entitled to five (5) days of paid sick leave
                  per
                  year. Any sick days not used may be converted to vacation
                  days.

              

         

        
          	(Four)    
                  	
                  Benefit
                    Plans.
                    

                

        

         

        	(a)  	
                The
                  Employee will be entitled to participate in a 401K plan as defined
                  by the
                  Company. The Employee will contribute to the plan and the Company
                  will
                  contribute to the plan a comparable contribution of up to 3% of
                  the
                  Employee’s salary.

              

         

        	(b)  	
                The
                  Employee will be entitled to participate in a health care plan
                  as defined
                  by the Company. The Company will contribute a portion of the premium
                  payments for health care coverage of the Employee as determined
                  by the
                  plan.

              

         

        
          
            
            

          

          
            -4-

            
              

            

          

          
            
            

          

        

         

        	(c)  	
                The
                  Employee will be entitled to participate in a vision service plan
                  and
                  dental care plan as defined by the Company. The Company will contribute
                  a
                  portion of the premiums for vision service and dental care coverage
                  of the
                  Employee as determined by the plan

              

         

        	(Five)  	
                Life
                  Insurance.
                  The Employee will participate in a life Insurance plan that will
                  compensate for Employee’s death and disability in a face amount of up to 1
                  times the Employee’s annual salary.

              

         

        	5.2.  	
                The
                  Company will make deductions, withholdings, from all payments and
                  benefits, pursuant to this Agreement which are required by law
                  or
                  regulations. (taxes and other charges).

              

         

        	5.3.  	
                The
                  Company reserves the right to change or eliminate the fringe benefits
                  on a
                  prospective basis, at any time, effective upon notice to
                  Employee.

              

         

        6.    CONFIDENTIAL
          INFORMATION. 

         

        The
          Employee agrees not to divulge or use, except in furtherance of the Company’s
          business at any time during his employment or after the termination of
          his
          employment with the Company, any confidential and other proprietary information
          (“Confidential
          Information”)
          obtained at any time, disclosed to the Employee or developed by the Employee
          in
          the course of the Employee’s employment with the Company or regarding the
          technology, know how, intellectual property and business of either the
          Company,
          its subsidiaries, affiliates, or any of its customers, except that the
          Employee
          may disclose certain necessary information to co-workers employed at the
          Company
          and to third parties when required to do so in connection with the performance
          of his duties hereunder. “Confidential Information” shall mean information which
          is not known to the public and shall include, but not be limited to, technology,
          intellectual property, trade secrets, know-how, data, technical or
          non-technical, whether written, graphic or oral, the names or addresses
          of
          prospective or existing investors, customers, employees, supply sources,
          ideas,
          financial information, operations policies, marketing strategies, product
          roadmaps, business development plans, corporate assets, financial forecasts,
          and
          historical financial results. 

         

        7.    COVENANT
          NOT TO SOLICIT EMPLOYEES. 

         

        During
          Employee’s employment and for a period of one year from the date of termination
          of this Agreement, without the prior written consent of the Board of Directors
          of the Company, the Employee shall not directly or indirectly solicit or
          seek to
          obtain or achieve the employment of any person employed by or engaged as
          consultant of, either the Company, its subsidiaries, affiliates, or any
          successors or assigns thereof, except for those employees or consultants
          who
          have left the Company, its subsidiaries, affiliates, or any successors
          or
          assigns thereof more than one (1) year prior to the date of the Employee’s
          termination of employment with the Company. 

         

        
          
            
            

          

          
            -5-

            
              

            

          

          
            
            

          

        

         

        8.    COVENANT
          NOT COMPETE POST-TERMINATION.

         

        	8.1.  	
                Consideration
                  For Promise To Refrain From Competing.
                  Employee agrees that Company’s disclosure of confidential and proprietary
                  information and provision of specialized training and/or knowledge
                  to
                  Employee, and Employee’s level of compensation and benefits, are partly in
                  consideration of and conditioned upon Employee not competing with
                  Company.
                  Employee acknowledges that such consideration for his services
                  under this
                  Agreement is adequate consideration for his promises contained
                  within this
                  Section 8.

              

         

        	8.2.  	
                Promise
                  To Refrain From Competing.
                  For a period of six (6) months from the date of termination of
                  this
                  Agreement, without the prior written consent of the Board of Directors
                  of
                  the Company, the Employee shall not participate, directly or indirectly
                  (whether as advisor, principal, agent, partner, officer, director,
                  employee, stockholder, associate or consultant) in any Business
                  Entity.
                  For purposes of this paragraph, the term “Business
                  Entity”
                  shall mean any person, partnership, corporation or other business
                  entity
                  that is involved in any competition with any business or activity
                  carried
                  on by the Company or its affiliates or subsidiaries prior to the
                  date of
                  this Agreement or hereafter conducted by the Company or its affiliates
                  or
                  subsidiaries during the term of this Agreement anywhere in the
                  world.
                  Notwithstanding the foregoing, in the event the Company is subsequently
                  acquired by another person, corporation or business enterprise,
                  “Business
                  Entity”
                  shall be limited to any person, partnership, corporation or other
                  business
                  entity that is involved in any competition with any business or
                  activity
                  carried on by the Company or its affiliates or subsidiaries at
                  the time of
                  acquisition.

              

         

        	8.3.  	
                Reasonableness
                  of Restrictions.
                  Employee represents and agrees that the restrictions on competition,
                  as to
                  time, geographic area, and scope of activity, required by this
                  Section are
                  reasonable, do not impose a greater restraint than is necessary
                  to protect
                  the goodwill and business interests of the Company, and are not
                  unduly
                  burdensome to Employee. Employee expressly acknowledges that the
                  Company
                  competes on a worldwide basis and that the geographical scope of
                  these
                  limitations is reasonable and necessary for the protection of Company's
                  trade secrets and other confidential and proprietary information.
                  Employee
                  further agree that these restrictions allow Employee an adequate
                  number
                  and variety of employment alternatives, based on Employee’s varied skills
                  and abilities. Employee represents that Employee is willing and
                  able to
                  compete in other employment not prohibited by this
                  Agreement.

              

         

        
          
            
            

          

          
            -6-

            
              

            

          

          
            
            

          

        

         

        	8.4.  	
                Reformation
                  if Necessary.
                  In the event a court of competent jurisdiction determines that
                  the
                  geographic area, duration, or scope of activity of any restriction
                  under
                  this Section is unenforceable, the restrictions under this Section
                  shall
                  not be terminated but shall be reformed and modified to the extent
                  required to render them valid and
                  enforceable.

              

         

        
          
            
            

          

          
            -7-

            
              

            

          

          
            
            

          

        

         

        9.    INTELLECTUAL
          PROPERTY ASSIGNMENT. 

         

        	9.1.  	
                Disclosure
                  of Prior Inventions.
                  Employee has identified on Exhibit
                  A
                  (“Prior Inventions”) attached hereto all inventions relating in any way to
                  the Company’s business or demonstrably anticipated research and
                  development which were made by Employee prior to his employment
                  with the
                  Company (“Prior Inventions”), and Employee represents that such list is
                  complete. Employee represents that Employee has no rights in any
                  such
                  inventions other than those Prior Inventions specified in Exhibit
                  A
                  (“Prior Inventions”). If there is no such list on Exhibit
                  A
                  (“Prior Inventions”), Employee represents that Employee has made no such
                  Prior Inventions at the time of signing this
                  Agreement.

              

         

        	9.2.  	
                Ownership.
                  Any invention, development or know-how which shall be conceived,
                  developed
                  or reduced to practice by the Employee during the period of his
                  employment
                  relating to the business of the Company or the use of any of its
                  technologies, facilities or Confidential Information, notwithstanding
                  that
                  it is perfected or reduced to specific form at any time thereafter
                  provided that its conception arose during such period, including
                  all
                  rights therein and in any patent or other form of intellectual
                  property or
                  legal protection with respect thereto, shall become the sole property
                  of
                  the Company, without need for any specific action or notice or
                  any
                  consideration to the Employee other than as provided for by this
                  Agreement
                  (“Company
                  Inventions”).
                  The Employee shall cooperate with the Company and assist it in
                  obtaining
                  any patent or other form of legal protection for such Company Inventions
                  or know-how for no additional compensation (other than the coverage
                  of the
                  Employee's reasonable out of pocket expenses). Employee agrees
                  to grant
                  the Company or its designees a royalty free, irrevocable, worldwide
                  license (with rights to sublicense through multiple tiers of distribution)
                  to practice all applicable patent, copyright and other intellectual
                  property rights relating to any Prior Inventions which Employee
                  incorporates, or permits to be incorporated, in any Company Inventions.
                  Notwithstanding the foregoing, Employee agrees that Employee will
                  not
                  incorporate, or permit to be incorporated, such Prior Inventions
                  in any
                  Company Inventions without Company’s
                  prior written consent.

              

         

        10.    NO
          CONFLICTING OBLIGATIONS 

         

        The
          Employee will not disclose to the Company any confidential information
          or
          material belonging to a third party, including that belonging to any prior
          employer, contractor, unless the Employee has first received the written
          approval of that third party and presents such approval to the
          Company.

         

        	11.  	
                Agreement
                  to Arbitrate.
                  To the fullest extent permitted by law, Employee and Company agree
                  to
                  arbitrate any controversy, claim or dispute between them arising
                  out of or
                  in any way related to this Agreement, the employment relationship
                  between
                  Company and Employee and any disputes upon termination of employment,
                  including but not limited to breach of contract, tort, discrimination,
                  harassment, wrongful termination, failure to accommodate, family
                  and
                  medical leave, compensation or benefits claims, constitutional
                  claims; and
                  any claims for violation of any local, state or federal law, statute,
                  regulation or ordinance or common law. Claims for injunctive relief
                  regarding breach of any of the covenants contained in sections
                  7-10 are
                  excluded. For the purpose of this agreement to arbitrate, references
                  to
                  “Company” include all parent, subsidiary or related entities and their
                  employees, supervisors, officers, directors, agents, pension or
                  benefit
                  plans, pension or benefit plan sponsors, fiduciaries, administrators,
                  affiliates and all successors and assigns of any of them, and this
                  agreement shall apply to them to the extent Employee’s claims arise out of
                  or relate to their actions on behalf of
                  Company.

              

         

        
          
            
            

          

          
            -8-

            
              

            

          

          
            
            

          

        

         

        	11.1.  	
                Consideration.
                  The mutual promise by Company and Employee to arbitrate any and
                  all
                  disputes between them (except for those referenced above) rather
                  than
                  litigate them before the courts or other bodies, provides the
                  consideration for this agreement to
                  arbitrate.

              

         

        	11.2.  	
                Initiation
                  of Arbitration.
                  Either party may exercise the right to arbitrate by providing the
                  other
                  party with written notice of any and all claims forming the basis
                  of such
                  right in sufficient detail to inform the other party of the substance
                  of
                  such claims. In no event shall the request for arbitration be made
                  after
                  the date when institution of legal or equitable proceedings based
                  on such
                  claims would be barred by the applicable statute of
                  limitations.

              

         

        	11.3.  	
                Arbitration
                  Procedure.
                  The arbitration will be conducted in [[insert
                  city]], Texas
                  by a single neutral arbitrator and in accordance with the American
                  Arbitration Association’s (“AAA”) then current rules for resolution of
                  employment disputes. The parties are entitled to representation
                  by an
                  attorney or other representative of their choosing. The arbitrator
                  shall
                  have the power to enter any award that could be entered by a judge
                  of the
                  trial court of the State of Texas, and only such power, and shall
                  follow
                  the law. In the event the arbitrator does not follow the law, the
                  arbitrator will have exceeded the scope of his or her authority
                  and the
                  parties may, at their option, file a motion to vacate the award
                  in court.
                  The parties agree to abide by and perform any award rendered by
                  the
                  arbitrator. Judgment on the award may be entered in any court having
                  jurisdiction thereof.

              

         

        	11.4.  	
                Costs
                  of Arbitration/Attorneys’ Fees.
                  Each party shall bear one half the cost of the arbitration filing
                  and
                  hearing fees, and the cost of the arbitrator. In addition, each
                  side will
                  bear its own attorneys’ fees in any dispute unless a statutory section at
                  issue, if any, authorizes the award of attorneys’ fees to the prevailing
                  party.

              

         

        
          
            
            

          

          
            -9-

            
              

            

          

          
            
            

          

        

         

        12.    MISCELLANEOUS.

         

        	12.1.  	
                Governing
                  Law; Submission to Jurisdiction.
                  This Agreement shall be governed by and construed in accordance
                  with the
                  laws of the State of Texas. Any litigation concerning any claims
                  under or
                  breach of this Agreement shall be brought exclusively in the competent
                  courts in Texas, except as otherwise provided in Section 11
                  herein

              

         

        	12.2.  	
                Successors
                  and Assigns.
                  The rights and obligations of Company under this Agreement shall
                  inure to
                  the benefit of and shall be binding upon the successors and assigns
                  of
                  Company. Employee shall not be entitled to assign any of his rights
                  or
                  obligations under this Agreement.

              

         

        	12.3.  	
                Waiver.
                  Either party’s failure to enforce any provision of this Agreement shall
                  not in any way be construed as a waiver of any such provision,
                  or prevent
                  that party thereafter from enforcing each and every other provision
                  of
                  this Agreement. No oral waiver, amendment or modification will
                  be
                  effective under any circumstances
                  whatsoever.

              

         

        	12.4.  	
                Severability.
                  In the event any provision of this Agreement is found to be unenforceable
                  by an arbitrator or court of competent jurisdiction, such provision
                  shall
                  be deemed modified to the extent necessary to allow enforceability
                  of the
                  provision as so limited, it being intended that the parties shall
                  receive
                  the benefit contemplated herein to the fullest extent permitted
                  by law. If
                  a deemed modification is not satisfactory in the judgment of such
                  arbitrator or court, the unenforceable provision shall be deemed
                  deleted,
                  and the validity and enforceability of the remaining provisions
                  shall not
                  be affected thereby.

              

         

        	12.5.  	
                Notices.
                  Any notice required or permitted by this Agreement shall be in
                  writing and
                  shall be delivered as follows with notice deemed given as indicated:
                  (a)
                  by personal delivery when delivered personally; (b) by overnight
                  courier
                  upon written verification of receipt; (c ) by telecopy or facsimile
                  transmission upon acknowledgment of receipt of electronic transmission;
                  (d) by certified or registered mail, return receipt requested,
                  upon
                  verification of receipt; or (e) by electronic communication upon
                  written
                  verification of receipt. Notice shall be sent to the addresses
                  set forth
                  above, or such other address as either party may specify in
                  writing.

              

         

        	12.6.  	
                Modification.
                  This Agreement may not be amended, modified, changed or discharged
                  in any
                  respect except as mutually agreed in writing and signed by both
                  parties.
                  No oral waiver, amendment or modification will be effective under
                  any
                  circumstances whatsoever.

              

         

        	12.7.  	
                Descriptive
                  Headings.
                  The paragraph headings contained herein are for reference purposes
                  only
                  and shall not in any way affect the meaning or interpretation of
                  this
                  Agreement.

              

         

        
          
            
            

          

          
            -10-

            
              

            

          

          
            
            

          

        

         

        	12.8.  	
                Counterparts.
                  This Agreement may be executed in counterparts, each of which shall
                  be
                  deemed an original, and all such counterparts shall constitute
                  one and the
                  same instrument.

              

        
           

          	12.9. 	
                  
                    Survival.The
                      provisions of paragraphs ‎6,
                      ‎7,
                      ‎8,
                      9, 10, 11 and 12 shall survive any termination of this
                      Agreement.

                  

                

           

        

        	12.10. 	
                Entire
                  Agreement.
                  This Agreement constitutes the entire agreement between the parties
                  relating to this subject matter and supersedes all prior or simultaneous
                  representations, discussions, negotiations, and agreements, whether
                  written or oral.

              

         

         

        IN
          WITNESS WHEREOF, the Company and the Employee have executed this Employment
          Agreement, as of the day and year first above written.

         

         

        
 

         

        
          	
                  /s/
                    Jacob Ben-Zvi

                  
                    
WINTEGRA
                    INC.

                   

                	 	
                  /s/
                    Robert O'Dell

                  
                    

                  

                  Robert
                    O'Dell

                   

                
	
                  By:___________________

                   

                	 	 

        

        

        
          
            
            

          

          
            -11-

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