Document:

Exhibit 10.1

      

       

      

    

    
      March ___, 2021

      

      

      PERSONAL AND CONFIDENTIAL

      

      

      [Recipient]

      c/o Extended Stay America, Inc.

      c/o ESH Hospitality, Inc.

      c/o ESA Management, LLC

      11525 N. Community House Road, Suite 100

      Charlotte, NC 28277

      

      

      Dear [Recipient],

       

      As you know, Extended Stay America, Inc., a Delaware corporation, and ESH Hospitality, Inc., a Delaware corporation (collectively, the “Company”), recently entered into an Agreement and Plan
        of Merger (the “Merger Agreement”) with Eagle Parent Holdings, L.P., a Delaware limited partnership, which, if completed, will result in the Company becoming an indirect wholly owned subsidiary of Eagle Parent Holdings, L.P. (such entity, “Parent”,

        and such transaction, the “Transaction”).  In light of the possibility that you will become entitled to payments and benefits that are contingent on the Transaction which are deemed “parachute payments” under Sections 280G and 4999 of the
        Internal Revenue Code, as amended (the “Code”), the Company has determined that it is in its best interests to ensure that you are protected against any excise tax that could be imposed under Section 4999 of the Code.

       

      Accordingly, in the event that it is determined that the payments or benefits provided to you or for your benefit in connection with the Transaction by the Company, any affiliate of the Company,
        any person who acquires ownership or effective control of the Company or ownership of a substantial portion of the Company’s assets (within the meaning of Section 280G of the Code and the regulations thereunder) or any affiliate of such person,
        whether paid or payable or distributed or distributable (the “Total Payments”), constitute “parachute payments” under Sections 280G of the Code that are subject to the excise tax imposed by Section 4999 of the Code (such excise tax referred
        to as the “Excise Tax”), then you will be entitled to receive an additional payment (a “Gross-Up Payment”) in an amount such that after payment by you of all federal, state and local taxes, including any income tax, employment tax,
        Excise Tax or similar tax, imposed upon the Gross-Up Payment, you retain an amount of the Gross-Up Payment equal to the Excise Tax imposed upon the Total Payments. The Gross-Up Payment described in this letter agreement will be payable by ESA
        Management, LLC to you, regardless of your employment status with the Company at the time that the Excise Tax, if any, arises. The Company and you hereby agree that [each of (i)] Section 13 of the Company’s Executive Severance Plan (as may be
        amended from time to time, the “Severance Plan”) [and (ii) the section titled “Section 280G Cutback” of your letter of continued employment, dated February 8, 2021, with the Company (as may be amended
        from time to time, the “Employment Letter”)] shall not apply to you or the Total Payments.

       

      The Company shall retain nationally a recognized firm of certified public accountants (the “Accounting Firm”) to perform a golden parachute analysis (such analysis, the “280G Analysis”)

        relating to the Transaction, and you shall fully cooperate with said Accounting Firm in connection with the preparation of the 280G Analysis. You acknowledge that the Company shall use commercially reasonable efforts to implement strategies to
        reduce the amount of any potential parachute payments including valuing existing non-compete covenants in effect as of the date hereof.  All determinations required to be made under this letter agreement, including whether you are required to pay
        an Excise Tax and the amount of such Excise Tax and the related Gross-Up Payment, will be made by the Accounting Firm.  If the Accounting Firm determines that any Excise Tax is payable, ESA Management, LLC will be required to make the Gross-Up
        Payment, less all amounts withheld in respect of the Gross-Up Payment as required by applicable law.  All fees and expenses of the Accounting Firm will be paid by the Company in connection with the calculations required by this letter agreement.

       

      
        
          

      

      Any payment or reimbursement under this letter agreement, including, to the extent required, a Gross-Up Payment, will be made by ESA Management, LLC no later than the end of your taxable year in
        which the Excise Tax or other related tax is remitted to the Internal Revenue Service.

       

      In the event of any underpayment or overpayment under this Agreement as determined by the Company’s independent auditors (or such other firm as may have been designated in accordance with the
        preceding paragraph), the amount of such underpayment or overpayment shall forthwith be paid to the Executive or refunded to the Company, as the case may be, with interest at the applicable federal rate provided for in Section 7872(f)(2) of the
        Code.

       

      In exchange for the Gross-Up Payment being provided you in this letter agreement, as applicable, and for other good and valuable consideration, you hereby agree that the consummation of the
        transactions contemplated by the Merger Agreement, and any changes or modifications to your authority, duties and/or responsibilities which arise solely as a result of the Company ceasing to be a publicly-held company or becoming a subsidiary of
        Parent in connection with the consummation of the transactions contemplated by the Merger Agreement, will not, in and of itself, constitute a “material diminution in [your] authority, duties or responsibilities” (and, therefore, will not constitute
        “Good Reason”) under the Severance Plan.

      

      

      If any provision hereof becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable, or void, this letter agreement will continue in full force and effect without said
        provision.

      

      

      This letter agreement constitutes the entire agreement between the parties hereto with respect to the matters contemplated herein and supersedes all prior agreements and understandings with respect
        thereto. This letter agreement constitutes an amendment to [each of] the Severance Plan as it relates to you [and the Employment Letter], to the extent set forth herein.

      

      

      No amendment, modification, or waiver of this letter agreement will be effective unless in writing as agreed by the Company and you.  For the purposes of this letter agreement, Company will mean
        the Company and any of its successors or assigns.

      

      

      For the avoidance of doubt, the effectiveness of this letter agreement is subject to and conditioned upon the closing of the Transaction.  If the closing of the Transaction does not occur or the
        Merger Agreement is terminated in accordance with its terms, this letter agreement shall be null and void ab initio and of no force and effect.

      

      

      This letter agreement may be executed by the parties hereto in counterparts, each of which shall be deemed to be an original, but all such counterparts shall constitute one and the same instrument,
        and all signatures need not appear on any one counterpart.

      

      

      This letter agreement will be governed by and construed in accordance with the laws of the State of North Carolina.

      

      

      
        
          

      

      We thank you for the service that you have rendered in the past and look forward to your continued contribution to the success of the Company.  If you have any questions regarding the foregoing,
        please contact Christopher Dekle at cdekle@extendedstay.com.  Please acknowledge your acceptance of the terms of this letter agreement and return it to me as soon as possible.

      

      

      	 	
              Sincerely,

            
	 	

            
	 	
              EXTENDED STAY AMERICA, INC.

            
	 	

            
	 	

            	 
	 	
              Name:

            
	 	
              Title:

            
	 	

            
	 	
              ESH HOSPITALITY, INC.

            
	 	

            
	 	

            	 
	 	
              Name:

            
	 	
              Title:

            
	 	

            
	 	
              ESA MANAGEMENT, LLC

            
	 	

            
	 	

            	 
	 	
              Name:

            
	 	
              Title:

            
	 	

            
	
              Acknowledged and agreed:

            	 
	

            	 
	

            	 	 
	

            	 
	
              Date:crct-ex41_301.htm

 

Exhibit 4.1

The IRS requires that the named transfer agent (“we”) report the cost basis of certain shares or units acquired after January 1, 2011. If your shares or units are covered by the legislation, and you requested to sell or transfer the shares or units using a specific cost basis calculation method, then we have processed as you requested. If you did not specify a cost basis calculation method, then we have defaulted to the first in, first out (FIFO) method. Please consult your tax advisor if you need additional information about cost basis. If you do not keep in contact with the issuer or do not have any activity in your account for the time period specified by state law, your property may become subject to state unclaimed property laws and transferred to the appropriate state. For value received, hereby sell, assign and transfer unto Shares Attorney Dated: 20 Signature: Signature: Notice: The signature to this assignment must correspond with the name as written upon the face of the certificate, in every particular, without alteration or enlargement, or any change whatever. PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE (PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING POSTAL ZIP CODE, OF ASSIGNEE) of the Class A Common Stock represented by the within Certificate, and do hereby irrevocably constitute and appoint to transfer the said stock on the books of the within-named Company with full power of substitution in the premises. . CRICUT, INC. THE COMPANY WILL FURNISH WITHOUT CHARGE TO EACH SHAREHOLDER WHO SO REQUESTS, A SUMMARY OF THE POWERS, DESIGNATIONS, PREFERENCES AND RELATIVE, PARTICIPATING, OPTIONAL OR OTHER SPECIAL RIGHTS OF EACH CLASS OF STOCK OF THE COMPANY AND THE QUALIFICATIONS, LIMITATIONS OR RESTRICTIONS OF SUCH PREFERENCES AND RIGHTS, AND THE VARIATIONS IN RIGHTS, PREFERENCES AND LIMITATIONS DETERMINED FOR EACH SERIES, WHICH ARE FIXED BY THE CERTIFICATE OF INCORPORATION OF THE COMPANY, AS AMENDED, AND THE RESOLUTIONS OF THE BOARD OF DIRECTORS OF THE COMPANY, AND THE AUTHORITY OF THE BOARD OF DIRECTORS TO DETERMINE VARIATIONS FOR FUTURE SERIES. SUCH REQUEST MAY BE MADE TO THE OFFICE OF THE SECRETARY OF THE COMPANY OR TO THE TRANSFER AGENT. THE BOARD OF DIRECTORS MAY REQUIRE THE OWNER OF A LOST OR DESTROYED STOCK CERTIFICATE, OR HIS LEGAL REPRESENTATIVES, TO GIVE THE COMPANY A BOND TO INDEMNIFY IT AND ITS TRANSFER AGENTS AND REGISTRARS AGAINST ANY CLAIM THAT MAY BE MADE AGAINST THEM ON ACCOUNT OF THE ALLEGED LOSS OR DESTRUCTION OF ANY SUCH CERTIFICATE. Signature(s) Guaranteed: Medallion Guarantee Stamp THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (Banks, Stockbrokers, Savings and Loan Associations and Credit Unions) WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15. The following abbreviations, when used in the inscription on the face of this certificate, shall be construed as though they were written out in full according to applicable laws or regulations: TEN COM - as tenants in common UNIF GIFT MIN ACT - Custodian (Cust) (Minor) TEN ENT - as tenants by the entireties under Uniform Gifts to Minors Act (State) JT TEN - as joint tenants with right of survivorship UNIF TRF MIN ACT - Custodian (until age) and not as tenants in common (Cust) under Uniform Transfers to Minors Act (Minor) (State) Additional abbreviations may also be used though not in the above list

 

 

 

 

	
	

	
 

	
 

	
 

	

 

THIS CERTIFIES THAT is the owner of CUSIP DATED COUNTERSIGNED AND REGISTERED: COMPUTERSHARE TRUST COMPANY, N.A. TRANSFER AGENT AND REGISTRAR, FULLY-PAID AND NON-ASSESSABLE SHARES OF CLASS A COMMON STOCK OF Cricut, Inc. (hereinafter called the “Company”), transferable on the books of the Company in person or by duly authorized attorney, upon surrender of this Certificate properly endorsed. This Certificate and the shares represented hereby, are issued and shall be held subject to all of the provisions of the Certificate of Incorporation, as amended, and the By-Laws, as amended, of the Company (copies of which are on file with the Company and with the Transfer Agent), to all of which each holder, by acceptance hereof, assents. This Certificate is not valid unless countersigned and registered by the Transfer Agent and Registrar. Witness the facsimile seal of the Company and the facsimile signatures of its duly authorized officers. CLASS A COMMON STOCK PAR VALUE $0.001 CLASS A COMMON STOCK SEE REVERSE FOR CERTAIN DEFINITIONS Certificate Number Shares . CRICUT, INC. INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE Chief Executive Officer Secretary By AUTHORIZED SIGNATURE 9/2/2020 DEL AWAR E CO R PO RATE CRICUT, INC. ZQ|CERT#|COY|CLS|RGSTRY|ACCT#|TRANSTYPE|RUN#|TRANS# 22658D 10 0 DD-MMM-YYYY * * 000000* * * * * * * * * * * * * * * * * * * * * 000000* * * * * * * * * * * * * * * * * * * * * 000000* * * * * * * * * * * * * * * * * * * * * 000000* * * * * * * * * * * * * * * * * * * * * 000000* * * * * * * * * * * * * * ** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Sample **** Mr. Sample **000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares*** *000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares**** 000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****0 00000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****00 0000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000 000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****0000 00**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****00000 0**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000 **Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000* *Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000** Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**S ***ZERO HUNDRED THOUSAND ZERO HUNDRED AND ZERO*** MR. SAMPLE & MRS. SAMPLE & MR. SAMPLE & MRS. SAMPLE ZQ00000000 Certificate Numbers 1234567890/1234567890 1234567890/1234567890 1234567890/1234567890 1234567890/1234567890 1234567890/1234567890 1234567890/1234567890 Total Transaction Num/No. 123456 Denom. 123456 Total 1234567 MR A SAMPLE DESIGNATION (IF ANY) ADD 1 ADD 2 ADD 3 ADD 4 PO BOX 505006, Louisville, KY 40233-5006 CUSIP/IDENTIFIER XXXXXX XX X Holder ID XXXXXXXXXX Insurance Value 1,000,000.00 Number of Shares 123456 DTC 12345678 123456789012345 THIS CERTIFICATE IS TRANSFERABLE IN CITIES DESIGNATED BY THE TRANSFER AGENT, AVAILABLE ONLINE AT www.computershare.com

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