Document:

Marketing and Ancillary Services Termination Agreement, dated August 6, 2007

 EXHIBIT 10.11 
 MARKETING AND ANCILLARY SERVICES TERMINATION AGREEMENT 
 This Marketing and Ancillary Services
Termination Agreement (this “Agreement”) is made as of August 6, 2007, between U-Store-It Mini Warehouse Co. (“Service Provider”), an Ohio corporation and indirect wholly-owned taxable REIT subsidiary of U-Store-It Trust
(the “REIT”), a Maryland real estate investment trust, and Rising Tide Development, LLC, a Delaware limited liability company (“Rising Tide”). 
 R E C I T A L S 
 WHEREAS, Service Provider currently provides services to fourteen (14) of the
fifteen (15) properties owned (or to be owned) by Rising Tide that are set forth on Exhibit A (each a “Property” and collectively “Properties”) pursuant to a Marketing and Ancillary Services Agreement, dated
October 27, 2004 (the “Services Agreement”), with the Property listed as #15 on Exhibit A being the only Property for which Service Provider does not provide services as the Property is undeveloped; 
 WHEREAS, Service Provider and Rising Tide each desire to terminate various business relationships and agreements, including those in the Services
Agreement (except as otherwise provided herein); 
 WHEREAS, it is expressly understood that all terms not expressly defined in this
Agreement shall have the definitions set forth in the Services Agreement; 
 WHEREAS, contemporaneously with the execution of this Agreement,
of U-Store-It, L.P., a Delaware limited partnership (“USI”), the general partner of which is the REIT and Rising Tide have entered into that certain Purchase and Sale Agreement by and between USI and Rising Tide dated as of the date hereof
(the “2007 Acquired Properties Purchase Agreement”) whereby USI has agreed to purchase all of the Properties listed on Exhibit A, with the exception of the Property listed as #15 on Exhibit A; 
 WHEREAS, contemporaneously with the execution of this Agreement, Rising Tide has entered into that certain Property Management Amendment and Termination
Agreement (the “Property Management Termination”) with YSI Management LLC (“YSI”) and that certain Option Termination Agreement (the “Option Termination Agreement”) with USI; 
 WHEREAS, YSI is a wholly-owned subsidiary of USI; and 
 WHEREAS, the Board of Trustees of the REIT and the Corporate Governance and Nominating Committee of the Board of Trustees of the REIT have duly authorized and approved this Agreement. 
  

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 NOW, THEREFORE, in consideration of the foregoing and the mutual covenants and conditions set forth
herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows: 
 ARTICLE I –TERMINATION OF THE MARKETING AND ANCILLARY 
 SERVICES AGREEMENT 
 1.1 Termination. The Services Agreement shall be terminated, effective as of the Effective Date of this Agreement (defined in Section 3.10
herein), except Section 1.3(c) and Section 5 of the Services Agreement shall survive this termination of the Services Agreement. Notwithstanding the termination of the Services Agreement, Service Provider agrees: (a) that it will not,
after the Effective Date, use or disclose to any third party any of Rising Tide’s Confidential Information revealed or given to it, the REIT or USI, except to the extent necessary for the ownership and operation of the Properties by USI after
the Effective Date; (b) that it will return, on or before the Effective Date, any of such Rising Tide’s Confidential Information in the possession of YSI, the REIT or USI and not necessary for the ownership and operation of the Properties
by USI after the Effective Date; (c) that it has no right to use Rising Tide’s Marks, and no right, title or interest whatsoever in or to Rising Tide’s Marks; and (d) that it hereby acknowledges that all of Rising Tide’s
patent, copyright, trademark, trade secret or other intellectual property rights and all of Rising Tide’s Confidential Information was, is and will remain the sole, exclusive property of Rising Tide, except to the extent otherwise provided
above. 
 1.2 Service Provider Acknowledgement. The Service Provider hereby acknowledges that it has received all payments due under
the Services Agreement. 
 ARTICLE II – REPRESENTATIONS AND WARRANTIES OF THE SERVICE 
 PROVIDER AND RISING TIDE 
 Rising Tide
and Service Provider hereby make each of the representations and warranties applicable to such party as set forth in this Article II (other than the representation contained in Section 2.6 which is made solely by Rising Tide), which
representations and warranties made by each such party are true and correct as of the date first written above and will be true and correct as of the Effective Date: 
 2.1. Organization, Good Standing and Authority. Rising Tide and Service Provider each represents and warrants to the other that it has been duly organized and validly exists in good standing under the laws of
its respective jurisdiction of organization. Each party hereby represents and warrants to the other hereto that it has the power and authority to execute, deliver and perform 

  

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this Agreement and to consummate the transactions contemplated hereby; that this Agreement has been duly and validly executed and delivered by it; and that
this Agreement is the legal, valid and binding obligation of it, enforceable against it in accordance with the terms hereof, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar
laws affecting the enforcement thereof or relating to creditors’ rights generally. 
 2.2. Consents. Each party hereby represents
and warrants to the other that, no consent, approval, permit or order of, nor filing with, any individual, partnership, corporation, trust or other entity, government agency or political subdivision is required in connection with: (i) the
execution, delivery and performance of this Agreement by it; or (ii) the consummation by it of the transactions contemplated hereby, other than such consents, approvals, permits or orders that have been obtained or will be obtained prior to the
Effective Date. 
 2.3. No Violation. Each party to this Agreement hereby represents and warrants to the other that, to its knowledge,
none of the execution, delivery and performance by such party to this Agreement, nor the consummation by such party of the transactions contemplated hereby, will violate any provision of the organizational documents of such party or violate or be in
conflict with, or constitute a default (or an event or condition which, with notice of lapse of time or both, would constitute a default) under, or result in the termination or acceleration of, or result in the creation or imposition of any lien or
encumbrance under, any agreement, note, mortgage or other instrument to which such party is a party or which such party may be bound or subject, or, to such party’s knowledge, violate any court order or decree binding upon such party.

 2.4. Litigation. Each party to this Agreement hereby represents and warrants to the other that there is no litigation or
proceeding, either judicial or administrative, pending, or to the knowledge of such party, threatened, materially affecting the ability of such party to consummate the transactions contemplated hereby. 
 2.5 Marks of Rising Tide. Rising Tide hereby represents and warrants to Service Provider that the only Mark (as such term is defined in the
Services Agreement) used by Service Provider was “Rising Tide.” 
 ARTICLE III – MISCELLANEOUS 
 3.1 Notices. All notices, waivers, demands, requests or other communications required or permitted hereunder shall, unless otherwise expressly
provided, be in writing and be deemed to have been properly given, served and received (a) if delivered by messenger, when received, (b) if mailed, three business days after deposit in the United States mail, certified or registered,
postage prepaid, return receipt requested, (c) if telecopied/faxed, 

  

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upon confirmed receipt of a telecopied/facsimile transmission or (d) if delivered by reputable overnight express courier, freight prepaid, the next
business day after delivery to such courier; in every case addressed to the party to be notified as follows: 
  

			
	 To Service Provider:
	  	U-Store-It Mini Warehouse Co.
		  	C/O U-Store-It Trust
		  	50 Public Square, Suite 2800
		  	Cleveland, Ohio 44113
		  	Attention: Secretary
		  	Telephone: 216-274-1340
		  	Facsimile: 216-274-1360
		
	 With a copy to:
	  	U-Store-It Trust
		  	460 East Swedesford
		  	Wayne, Pennsylvania 19087
		  	Attention: CFO
		  	Telephone: 610-293-5700
		  	Facsimile: 610-293-5720
		
	 To Rising Tide:
	  	Rising Tide Development, LLC
		  	6755 Engle Road, Suite A
		  	Middleburg Heights, Ohio 44130
		  	Attention: Robert J. Amsdell
		  	Telephone: 440-891-4100
		  	Facsimile: 440-891-4200
		
	 With a copy to:
	  	Kohrman Jackson & Krantz, PLL
		  	One Cleveland Center- 20th Floor
		  	1375 East 9th Street
		  	Cleveland, Ohio 44114
		  	Attention: Marc C. Krantz, Esq.
		  	Telephone: 216-736-7204
		  	Facsimile: 216-621-6536

 or to such other address(es) or addressee(s) as any party entitled to receive notice hereunder shall designate to
the others in the manner provided herein for the service of notices. Rejection or refusal to accept or inability to deliver because of changed address or because no notice of changed address was given shall be deemed receipt. 
 3.2 Amendment; Waiver. This Agreement may not be amended except by an instrument in writing signed by the parties hereto. No waiver of any
provisions of this Agreement shall be valid unless in writing and signed by the party against whom enforcement is sought. 
  

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 3.3 Entire Agreement; Counterparts; Applicable Law. This Agreement (a) constitutes the entire
agreement and supersedes all prior agreements and understandings, both written and oral, between the parties with respect to the subject matter hereof, (b) may be executed in one or more counterparts, which may include a .pdf signature, each of
which will be deemed an original but all of which, together, shall constitute one and the same instrument; provided that this Agreement shall not be effective until each party shall have delivered their counterpart to the other party, and
(c) shall be governed in all respects, including, without limitation, validity, interpretation and effect, by the laws of the State of Ohio without giving effect to the conflict of law provisions thereof. 
 3.4 Severability. If any provision of this Agreement is for any reason held to any extent to be invalid, void or unenforceable, the remaining
provisions of this Agreement shall not be effected or impaired and such remaining provisions shall remain in full force and effect. In such event, the parties hereto shall use good faith efforts to agree to replace such void or unenforceable
provision of this Agreement with a valid and enforceable provision that will achieve, to the extent possible, the economic, business and other purposes of the void or unenforceable provision and execute any amendment, consent or agreement agreed by
the parties hereto to be necessary or desirable to effect such replacement. 
 3.5 Article and Section Headings. Article and Section
headings contained in this Agreement are for reference only and shall not be deemed to have any substantive effect or to limit or define the provisions contained herein. 
 3.6 Successors and Assigns. This Agreement shall be binding upon and shall be enforceable by and inure to the benefit of the parties hereto and their successors and permitted assigns. Neither of the parties may
assign or otherwise transfer its interest in this Agreement or its duties and obligations under this Agreement to any person without the prior written consent of the other party, which consent may be conditioned, withheld or delayed in such other
party’s sole and absolute discretion. 
 3.7 No Third Party Beneficiaries. Nothing in this Agreement, expressed or implied, is
intended to confer any rights or remedies upon any person, other than the parties hereto and their respective successors or assigns. 
 3.8
Fees and Expenses. All fees and expenses incurred in connection with the execution, delivery and performance of this Agreement and the transactions contemplated hereby shall be paid by the party incurring such fees and expenses. 

3.9 Reliance. Each party to this Agreement acknowledges and agrees that it is not relying on tax advice or other advice from the other party to
this Agreement and that it has or will consult with its own advisors. 
  

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 3.10 Effective Date. This Agreement shall be effective (“Effective Date”) concurrently
with the closing contemplated by the 2007 Acquired Properties Purchase Agreement. If the 2007 Acquired Properties Purchase Agreement is terminated by any party thereto without the closing as defined therein having occurred or for any other reason
the closing under the 2007 Acquired Properties Purchase Agreement does not occur, the Services Agreement shall remain in full force and effect and this Agreement shall be void ab initio. 
 [signature page follows] 
  

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 IN WITNESS WHEREOF, the parties have executed and delivered this Agreement as of the day and year first
above written. 
  

									
	RISING TIDE DEVELOPMENT, LLC,
	a Delaware limited liability company
	By:	 	Mizzen, LLC, its Sole Member
		 	By:	 	Amsdell Holdings X, Inc., its Manager
				
		 		 	By:	 	/s/ Robert J. Amsdell
		 		 		 	Robert J. Amsdell, President

  

			
	U-STORE-IT MINI WAREHOUSE CO.,
	an Ohio corporation
		
	By:	 	/s/ Dean Jernigan
		 	Dean Jernigan, President

  

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 EXHIBIT A1 
  

											
	 	  	 STREET ADDRESS
	  	 CITY
	  	STATE	  	ZIP CODE	  	 COUNTY

	1	  	1531 Montiel Road	  	Escondido	  	CA	  	92026	  	San Diego
	2	  	28401 Rancho California Rd.	  	Temecula	  	CA	  	92590	  	Riverside
	3	  	2020 Mt. Baldy Drive	  	Riverside	  	CA	  	92501	  	Riverside
	4	  	4309 Ehrlich Road	  	Tampa	  	FL	  	33624	  	Hillsborough
	5	  	8585 Touchton Road	  	Jacksonville	  	FL	  	32216	  	Duval
	6	  	11570 Beach Boulevard	  	Jacksonville	  	FL	  	32246	  	Duval
	7	  	8121 Point Meadows Drive	  	Jacksonville	  	FL	  	32256	  	Duval
	8	  	1201 N. State Road 7	  	Royal Palm Beach	  	FL	  	33411	  	Palm Beach
	9	  	12701 SW 124th Street	  	Kendall	  	FL	  	33186	  	Miami-Dade
	10	  	6550 SW 160th Avenue	  	Southwest Ranches	  	FL	  	33331	  	Broward
	11	  	3024 Plummer’s Cove Road	  	Jacksonville	  	FL	  	32223	  	Duval
	12	  	105 Old Peachtree Road	  	Suwanee	  	GA	  	30024	  	Gwinnett
	13	  	55 Commercial Street	  	Medford	  	MA	  	02155	  	Middlesex
	14	  	15910 Pearl Road	  	Strongsville	  	OH	  	44136	  	Cuyahoga
	15	  	2127 University Parkway	  	Sarasota	  	FL	  		  	

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	 Note: The properties
designated as 1-14 above are currently owned by Rising Tide, and Service Provider currently provides marketing and ancillary services thereto. The property designated as “15” is under contract to be purchased by Rising Tide and currently
has no U-Store-It building thereon. 

  

 8Modification of Noncompetition Agreement and Termination of Employment Agreement

 EXHIBIT 10.12 
 MODIFICATION OF NONCOMPETITION AGREEMENT AND 
 TERMINATION OF EMPLOYMENT AGREEMENT 

This Modification of Noncompetition Agreement and Termination of Employment Agreement (this
“Agreement”) is made this 6th day of August 2007 by and between Robert J. Amsdell (“Amsdell”) and U-Store-It Trust, a Maryland real
estate investment trust (“USI”). 
 R E C I T A L S 
 WHEREAS, Amsdell and USI entered into a Noncompetition Agreement, dated October 27, 2004 (the “Noncompetition Agreement”); and 

WHEREAS, Amsdell and USI entered into an Amended and Restated Employment Agreement, dated October 27, 2004 (the “Employment
Agreement”); and 
 WHEREAS, the parties thereto desire to terminate specific provisions of the Noncompetition Agreement, to terminate
the Employment Agreement and to enter into this Agreement to memorialize such intent. 
 NOW, THEREFORE in consideration of the foregoing and
the mutual covenants and agreements set forth herein, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows: 
 Article 1 - Termination and Modification of the Noncompetition Agreement 
 and the Employment Agreement 
 1.1 Termination of Employment Agreement. 
  

	 	(a)	Amsdell and USI hereby terminate the Employment Agreement effective February 13, 2007. 

  

	 	(b)	 Pursuant to USI’s request under Section 6.2 of the Employment Agreement, within ten days of the Effective Date or as soon thereafter as is practicable,
Amsdell hereby agrees to deliver to USI all memoranda, notes, lists, records, property and other tangible product and documents (and all copies thereof) made, produced or compiled by Amsdell or made available to Amsdell concerning the businesses and
investments of USI and its affiliates through February 13, 2007 (other than such product and documents related to the ownership of self-storage facilities by Rising Tide Development, LLC or related to the Pending Litigation as such term is
defined in the Settlement Agreement and Mutual Release by and among U-Store-It, L.P., U-Store-It Trust, U-Store-It Mini Warehouse Co., YSI Management LLC, U-Store-It Development, LLC, Rising Tide Development LLC, Amsdell and Amsdell, Robert J.
Amsdell, Barry L. 

	 	 
Amsdell, Todd C. Amsdell, Kyle V. Amsdell, Dean Jernigan and Kathleen A. Weigand dated as of the date hereof). 

 1.2 Modification of Noncompetition Agreement. 
  

	 	(a)	Amsdell and USI hereby modify the Noncompetition Agreement and USI expressly releases Amsdell from all of his obligations under Section 1 thereof with respect to (a) the
currently undeveloped land located at 2127 University Parkway, Sarasota, Florida 34243 and (b) any property identified by Amsdell as part of the Section 1031 “like-kind exchange” referenced in Section 13.18 of the Purchase
and Sale Agreement by and between U-Store-It, L.P. and Rising Tide Development, LLC dated as of the date hereof (the “2007 Acquired Properties Purchase Agreement”). 

  

	 	(b)	Amsdell and USI hereby further modify the Noncompetition Agreement by amending Section 2 of the Noncompetition Agreement and adding the following language thereto:
“Notwithstanding the foregoing nonsolicitation covenant set forth in this Section 2, Robert Amsdell is expressly allowed and permitted to hire, for any purpose, any employee or independent contractor who was terminated, resigned or
otherwise left the employment or other service of USI or any of its affiliates on or prior to June 1, 2007.” 

  

	 	(c)	All other provisions of the Noncompetition Agreement remain in full force and effect. 

 1.3 No Other Agreements. The parties further agree that other than the obligations contained in this Agreement, no other noncompetition or nonsolicitation provisions contained in any governing documents or
policy statements of USI shall apply to Amsdell. 
 Article 2 - Covenant Not to Sue and Indemnification 
 2.1 Covenant Not to Sue. USI agrees not to institute or file any claim or lawsuit for injunctive relief, declaratory judgment, damages, or
otherwise against Amsdell with any court, tribunal or agency with respect to any matters released or any rights waived in this Agreement. 
 2.2 Indemnification. If USI breaches this covenant not to sue, it shall be liable for and shall indemnify and hold harmless Amsdell for all of his attorneys’ fees, costs, and expenses incurred as a result of such breach.

 Article 3 - Miscellaneous 
 3.1 Notices. All notices, waivers, demands, requests or other communications required or permitted hereunder shall, unless otherwise expressly provided, be in writing and be deemed to have been properly given, served and 

  

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received (a) if delivered by messenger, when received, (b) if mailed, three business days after deposit in the United States mail, certified or
registered, postage prepaid, return receipt requested, (c) if telecopied/faxed, upon confirmed receipt of a telecopied/facsimile transmission or (d) if delivered by reputable overnight express courier, freight prepaid, the next business
day after delivery to such courier; in every case addressed to the party to be notified as follows: 
  

			
	 To USI:
	  	U-Store-It Trust
		  	50 Public Square, Suite 2800
		  	Cleveland, Ohio 44113
		  	Attention: Secretary
		  	Telephone: 216-274-1340
		  	Facsimile: 216-274-1360
		
	 with a copy to:
	  	U-Store-It Trust
		  	460 East Swedesford
		  	Wayne, Pennsylvania 19087
		  	Attention: CFO
		  	Telephone: 610-293-5700
		  	Facsimile: 610-293-5720
		
	 To Robert J. Amsdell:
	  	Robert J. Amsdell
		  	6755 Engle Road, Suite A
		  	Middleburg Heights, Ohio 44130
		  	Attention: Robert J. Amsdell
		  	Telephone: 440-891-4100
		  	Facsimile: 440-891-4200
		
	 with a copy to:
	  	Kohrman Jackson & Krantz, PLL
		  	One Cleveland Center, 20th Floor
		  	1375 East Ninth Street
		  	Cleveland, Ohio 44114
		  	Attention: Marc C. Krantz, Esq.
		  	Telephone: 216-736-7204
		  	Facsimile: 216-621-6536

 3.2 Amendment; Waiver. This Agreement may not be amended except by an instrument in writing
signed by the parties hereto. No waiver of any provisions of this Agreement shall be valid unless in writing and signed by the party against whom enforcement is sought. 
 3.3 Entire Agreement; Counterparts; Applicable Law. This Agreement (a) constitutes the entire agreement and supersedes all prior agreements and understandings, both written and oral, between the parties
with respect to the subject matter hereof, (b) may be executed in one or more counterparts, which may include a .pdf signature, each of which will be deemed an original but all of which, together, shall 

  

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constitute one and the same instrument; provided that this Agreement shall not be effective until each party shall have delivered their counterpart to the
other party, and (c) shall be governed in all respects, including, without limitation, validity, interpretation and effect, by the laws of the State of Ohio without giving effect to the conflict of law provisions thereof. 
 3.4 Severability. If any provision of this Agreement is for any reason held to any extent to be invalid, void or unenforceable, the remaining
provisions of this Agreement shall not be effected or impaired and such remaining provisions shall remain in full force and effect. In such event, the parties hereto shall use good faith efforts to agree to replace such void or unenforceable
provision of this Agreement with a valid and enforceable provision that will achieve, to the extent possible, the economic, business and other purposes of the void or unenforceable provision and execute any amendment, consent or agreement agreed by
the parties hereto to be necessary or desirable to effect such replacement. 
 3.5 Article and Section Headings. Article and Section
headings contained in this Agreement are for reference only and shall not be deemed to have any substantive effect or to limit or define the provisions contained herein. 
 3.6 Successors and Assigns. This Agreement shall be binding upon and shall be enforceable by and inure to the benefit of the parties hereto and their successors and permitted assigns. Neither of the parties may
assign or otherwise transfer its interest in this Agreement or its duties and obligations under this Agreement to any person without the prior written consent of the other party, which consent may be conditioned, withheld or delayed in such other
party’s sole and absolute discretion. 
 3.7 No Third Party Beneficiaries. Nothing in this Agreement, expressed or implied, is
intended to confer any rights or remedies upon any person, other than the parties hereto and their respective successors or assigns. 
 3.8
Fees and Expenses. All fees and expenses incurred in connection with the execution, delivery and performance of this Agreement and the transactions contemplated hereby shall be paid by the party incurring such fees and expenses. 

3.9 Reliance. Each party to this Agreement acknowledges and agrees that it is not relying on tax advice or other advice from the other party to
this Agreement and that it has or will consult with its own advisors. 
 3.10 Effective Date. This Agreement shall be effective
(“Effective Date”) concurrently with the closing contemplated by the 2007 Acquired Properties Purchase Agreement. If the 2007 Acquired Properties Purchase Agreement is terminated by any party thereto without the closing as defined therein
having occurred or for any other reason the closing under the 2007 Acquired Properties Purchase Agreement does not occur, each of the Employment Agreement and the Noncompetition Agreement shall remain in full force and effect and this Agreement
shall be void ab initio. 
  

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 [signature page follows] 
  

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

  

			
	U-Store-It Trust
		
	By:	 	/s/ Dean Jernigan
	Its:	 	President and Chief Executive Officer
	
	/s/ Robert J. Amsdell
	Robert J. Amsdell, individually

  

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