Document:

EX-10.2

Exhibit 10.2

ACCENTURE LTD

2001 SHARE INCENTIVE PLAN

RESTRICTED SHARE UNIT AGREEMENT

(CEO Award — 2009)

          1. Grant of RSUs. Accenture Ltd, an exempted company registered in Bermuda (the “Company”),
hereby grants, as of January 1, 2009 to William D. Green, (the “Participant”), a total number of
184,331 Restricted Share Units (“RSUs”), on the terms and conditions set forth herein. This grant
is made pursuant to the terms of the Accenture Ltd 2001 Share Incentive Plan (the “Plan”), which
Plan, as amended from time to time, is incorporated herein by reference and made a part of this
Restricted Share Unit Agreement (this “Agreement”). Capitalized terms not otherwise defined in
this Agreement shall have the same meaning ascribed to them in the Plan.

          2. Vesting.

          (a) Service Condition. The RSUs shall vest in full, if at all, on January 1, 2012 (the
“Determination Date”) so long as the Service Condition has been satisfied. For purposes of this
Agreement, the “Service Condition” requires that the Participant shall continually be employed by
the Company or any of its Affiliates (collectively, the “Constituent Companies”) as the Company’s
Chief Executive Officer and/or Chairman from January 1, 2009 to January 1, 2012.

          (b) Upon the Participant’s termination of employment for any reason, any unvested RSUs shall
immediately terminate, and no further Shares shall be issued or transferred under Section 3 of this
Agreement in respect of such unvested RSUs; provided, however, that if the
Participant’s employment with the Constituent Companies terminates due to the Participant’s death
or Disability, the RSUs granted hereunder shall vest with respect to 100% of the RSUs held by the
Participant on the date of such termination of employment. For purposes of this Agreement
“Disability” shall have the meaning set forth in Section 3(b) below or, if applicable, Section
21(a) below.

          3. Form and Timing of Issuance or Transfer.

          (a) In General. Unless the Committee or its designee permits the Participant to elect
to defer the issuance or transfer of Shares under this Agreement pursuant to the terms and
conditions established by the Committee in its sole discretion, the Company shall issue or cause
there to be transferred to the Participant that number of Shares as set forth in Section 1 above on
the Determination Date, until all of the Shares underlying the vested RSUs have been issued or
transferred; provided that on such delivery date, a number of RSUs equal to the number of
Shares issued or transferred to the Participant shall be extinguished; provided,
further, however, that upon the issuance or transfer of Shares to the Participant,
in lieu of a fractional Share, the Participant shall receive a cash payment equal to the Fair
Market Value of such

 

 

fractional Share. At the discretion of the Company, the Company may issue or transfer Shares
underlying vested RSUs to the Participant earlier than the Determination Date to the extent
required to satisfy tax liabilities arising in connection with this RSU grant. Notwithstanding the
foregoing, if the conditions set forth in Section 21 of this Agreement are satisfied, Section 21
shall supersede the foregoing.

          (b) Death or Disability. Notwithstanding Section 3(a) of this Agreement, if the
Participant’s employment with the Constituent Companies terminates due to the Participant’s death
or Disability, the Company shall issue or cause to be transferred to the Participant or to his or
her estate, as the case may be, a number of Shares equal to the aggregate number of RSUs granted to
the Participant hereunder (rounded down to the next whole Share) as soon as practicable following
such termination of employment, at which time a number of RSUs equal to the number of Shares issued
or transferred to the Participant or to his or her estate shall be extinguished; provided,
however, that upon the issuance or transfer of Shares to the Participant or to his or her
estate, in lieu of a fractional Share, the Participant or his or her estate, as the case may be,
shall receive a cash payment equal to the Fair Market Value of such fractional Share.

          For purposes of this Agreement, unless Section 21 applies, “Disability” shall mean
“disability” as defined (i) in any employment agreement then in effect between the Participant and
the Company or any Affiliate or (ii) if not defined therein, or if there shall be no such
agreement, as defined in the long-term disability plan maintained by the Participant’s employer as
in effect from time to time, or (iii) if there shall be no plan, the inability of the Participant
to perform in all material respects his or her duties and responsibilities to the Constituent
Companies for a period of six (6) consecutive months or for an aggregate period of nine (9) months
in any twenty-four (24) consecutive month period by reason of a physical or mental incapacity.

          (c) Notwithstanding Sections 3(a) and 3(b) of this Agreement, upon the Participant’s
termination of employment with the Constituent Companies for Cause or to the extent that the
Participant otherwise takes such action that would constitute Cause, to the extent legally
permissible, any outstanding RSUs shall immediately terminate. For purposes of this Agreement,
“Cause” shall mean “cause” as defined in any employment or consultancy agreement (or similar
agreement) or in any letter of appointment then in effect between the Participant and the Company
or any Affiliate or if not defined therein (it being the intent that the definition of “Cause”
shall include, at a minimum, the acts set forth below), or if there shall be no such agreement, to
the extent legally permissible, (a) the Participant’s embezzlement, misappropriation of corporate
funds, or other material acts of dishonesty, (b) the Participant’s commission or conviction of any
felony, or of any misdemeanor involving moral turpitude, or entry of a plea of guilty or nolo
contendere to any felony or misdemeanor, (c) engagement in any activity that the Participant knows
or should know could harm the business or reputation of the Company or an Affiliate, (d) the
Participant’s material failure to adhere to the Company’s or an Affiliate’s corporate codes,
policies or procedures as in effect from time to time, (e) the Participant’s continued failure to
meet minimum performance standards as determined by the Company or an Affiliate, (f) the
Participant’s violation of any statutory, contractual, or common law duty or obligation to the
Company or an Affiliate, including, without limitation, the duty of loyalty, or (g) the
Participant’s material breach of any confidentiality or non-competition covenant entered into
between the Participant and the Company or an Affiliate, including,

 

 

without limitation, the covenants contained in this Agreement. The determination of the
existence of Cause shall be made by the Company in good faith, which determination shall be
conclusive for purposes of this Agreement.

          4. Dividends. If on any date while RSUs are outstanding hereunder the Company shall
pay any dividend on the Shares (other than a dividend payable in Shares), the number of RSUs
granted to the Participant shall, as of such dividend payment date, be increased by a number of
RSUs equal to: (a) the product of (x) the number of RSUs held by the Participant as of the related
dividend record date, multiplied by (y) the per Share amount of any cash dividend (or, in the case
of any dividend payable in whole or in part other than in cash, the per Share value of such
dividend, as determined in good faith by the Committee), divided by (b) the Fair Market Value of a
Share on the payment date of such dividend. In the case of any dividend declared on Shares that is
payable in the form of Shares, the number of RSUs granted to the Participant shall be increased by
a number equal to the product of (I) the aggregate number of RSUs held by the Participant through
the related dividend record date, multiplied by (II) the number of Shares (including any fraction
thereof) payable as a dividend on a Share.

          5. Adjustments Upon Certain Events. In the event of any change in the outstanding
Shares by reason of any Share dividend or split, reorganization, recapitalization, merger,
consolidation, amalgamation, spin-off or combination transaction or exchange of Shares or other
similar events (collectively, an “Adjustment Event”), the Committee may, in its sole discretion,
adjust any Shares or RSUs subject to this Agreement to reflect such Adjustment Event.

          6. Cancellation and Rescission of RSUs and Shares Underlying RSUs.

          (a) Upon any transfer or issuance of Shares underlying RSUs, the Participant shall certify in
a manner acceptable to the Company that the Participant is in compliance with the terms and
conditions of this Agreement and the Plan.

          (b) In the following circumstances, the Company may require the Participant to, to the extent
legally permitted, transfer to the Company up to a number of Shares equal to the number of Shares
that have been issued or transferred under this Agreement (without regard to whether the
Participant continues to own or control such previously delivered Shares) and the Participant shall
bear all costs of transfer, including any transfer taxes that may be payable in connection with
such transfer;

 

 

          (i) the Participant’s employment with the Constituent Companies is terminated for
Cause, or

          (ii) the Participant engages in any of the Restricted Activities defined in
subsection (c) below.

          (c) The Participant agrees that, in consideration of the value of and as a condition of
receiving and maintaining the RSUs granted to the Participant under this Agreement, the Participant
shall not, for a period of twelve months following the termination of the Participant’s employment
with the Constituent Companies engage in any Restricted Activities, which for purposes of this
Agreement include the following:

          (i) associate (including, but not limited to, association as a sole proprietor,
owner, employer, partner, principal, investor, joint venturer, shareholder, associate,
employee, member, consultant, contractor or otherwise) with any Competitive Enterprise or
any of the affiliates, related entities, successors, or assigns of any Competitive
Enterprise; provided, however, that with respect to the equity of any
Competitive Enterprise which is or becomes publicly traded, the Participant’s ownership
as a passive investor of less than 1% of the outstanding publicly traded stock of a
Competitive Enterprise shall not be deemed a violation of this Section 6(c)(i);

          (ii) directly or indirectly (A) solicit, or assist any other individual, person,
firm or other entity in soliciting, any Client or Prospective Client for the purpose of
performing or providing any Consulting Services; or (B) perform or provide, or assist any
other individual, person, firm or other entity in performing or providing, Consulting
Services for any Client or Prospective Client; or (C) interfere with or damage (or
attempt to interfere with or damage) any relationship and/or agreement between the
Company or any Affiliates and a Client or Prospective Client; or

          (iii) directly or indirectly, solicit, employ or retain, or assist any other
individual, person, firm or other entity in soliciting, employing or retaining, any
employee or other agent of the Company or an Affiliate, including, without limitation,
any former employee or other agent of the Company, its Affiliates and/or their
predecessors who ceased working for the Company, its Affiliates and/or their predecessors
within an eighteen-month period before or after the date on which the Participant’s
employment with the Constituent Companies terminated.

          (d) For purposes of this Agreement:

          (i) “Cause shall have the meaning set forth in Section 3(c) above.

          (ii) “Client” shall mean any person, firm, corporation or other organization
whatsoever for whom the Company, its Affiliates and/or their predecessors provided
services within a twelve month period before the date on which the Participant’s
employment with the Constituent Companies terminated, or about which the Participant
learned confidential information within the twelve months prior to the date on which the
Participant’s employment with the Constituent Companies terminated.

 

 

          (iii) “Competitive Enterprise” shall mean a business enterprise that engages in, or
owns or controls a significant interest in any entity that engages in, the performance of
services of the type provided by the Company, its Affiliates and/or their predecessors.
“Competitive Enterprise” shall include, but not be limited to, the entities set forth on
the list maintained by the Company on the myHoldings website, which list may be updated
by the Company from time to time.

          (iv) “Consulting Services” shall mean the performance of any services of the type
provided by the Company, its Affiliates and/or their predecessors at any time, past,
present or future.

          (v) “Prospective Client” shall mean any person, firm, corporation, or other
organization whatsoever with whom the Company, its Affiliates and/or their predecessors
had any negotiations or discussions regarding the possible performance of services by the
Company or any of its Affiliates or any of their predecessors within the twelve months
prior to the date of the Participant’s termination of employment with the Constituent
Companies.

          (vi) “solicit” shall mean to have any direct or indirect communication of any kind
whatsoever, regardless of by whom initiated, inviting, advising, encouraging or
requesting any person or entity, in any manner, to take or refrain from taking any
action.

          (e) If, during the twelve month period following the termination of the Participant’s
employment with the Constituent Companies, the Participant is presented with an opportunity that
might involve participation in any Restricted Activity under 6(c)(i) above, Participant shall
notify the Company in writing of the nature of the opportunity (the “Conflicting Activity”).
Following receipt of sufficient information concerning the Conflicting Activity, the Company will
advise Participant in writing whether the Company considers the Participant’s RSUs to be subject to
Section 6(b)(ii) above. The Company retains sole discretion to determine whether Participant’s
RSUs are subject to Section 6(b)(ii) and to alter its determination should additional or different
facts become known to the Company.

          7. No Right to Continued Employment. Neither the Plan nor this Agreement shall be
construed as giving the Participant the right to be retained in the employ of, or in any consulting
relationship to, the Company or any Affiliate. Further, the Company or an Affiliate may at any
time dismiss the Participant from employment or discontinue any consulting relationship, free from
any liability or any claim under the Plan or this Agreement, except as otherwise expressly provided
herein.

          8. Data Protection. The Participant consents to the processing (including
international transfer) of personal data as set out in Appendix A for the purposes specified
therein.

          9. Collateral Agreements. As a condition to the issuance or transfer of the Shares
underlying the RSUs granted hereunder, the Participant shall, to the degree reasonably required by
the Company, (a) execute and return to the Company a counterpart of this

 

 

Agreement in accordance with the instructions provided by the Company and (b) either (i)
execute and return an employment agreement, a consultancy agreement, a letter of appointment and/or
an intellectual property agreement, in form and substance satisfactory to the Company, or (ii)
provide evidence satisfactory to the Company that the agreements referenced in clause (i) have
been previously executed by the Participant.

          10. No Acquired Rights. In participating in the Plan, the Participant acknowledges
and accepts that the Board has the power to amend or terminate the Plan at any time and that the
opportunity given to the Participant to participate in the Plan is entirely at the discretion of
the Committee and does not obligate the Company or any of its Affiliates to offer such
participation in the future (whether on the same or different terms). The Participant further
acknowledges and accepts that such Participant’s participation in the Plan is outside the terms of
the Participant’s contract of employment with the Constituent Companies and is therefore not to be
considered part of any normal or expected compensation and that the termination of the
Participant’s employment under any circumstances whatsoever will give the Participant no claim or
right of action against the Company or its Affiliates in respect of any loss of rights under this
Agreement or the Plan that may arise as a result of such termination of employment.

          11. No Rights of a Shareholder. The Participant shall not have any rights as a
shareholder of the Company until the Shares in question have been registered in the Company’s
register of shareholders.

          12. Legend on Certificates. Any Shares issued or transferred to the Participant
pursuant to Section 3 of this Agreement shall be subject to such stop transfer orders and other
restrictions as the Committee may deem advisable under the Plan or the rules, regulations, and
other requirements of the Securities and Exchange Commission, any stock exchange upon which such
Shares are listed, any applicable Federal or state laws or relevant securities laws of the
jurisdiction of the domicile of the Participant or to ensure compliance with any additional
transfer restrictions that may be in effect from time to time, and the Committee may cause a legend
or legends to be put on any certificates representing such Shares to make appropriate reference to
such restrictions.

          13. Transferability Restrictions — RSUs/Underlying Shares. RSUs may not be assigned,
alienated, pledged, attached, sold or otherwise transferred or encumbered by the Participant
otherwise than by will or by the laws of descent and distribution, and any purported assignment,
alienation, pledge, attachment, sale, transfer or encumbrance not permitted by this Section 13
shall be void and unenforceable against any Constituent Company. Any Shares issued or transferred
to the Participant shall be subject to compliance by the Participant with such policies as the
Committee or the Company may deem advisable from time to time, including, without limitation, the
policies relating to certain minimum share ownership requirements. Such policies shall be binding
upon the permitted respective legatees, legal representatives, successors and assigns of the
Participant. The Company shall give notice of any such additional or modified terms and
restrictions applicable to Shares delivered or deliverable under the Agreement to the holder of the
RSUs and/or the Shares so delivered, as appropriate, pursuant to the provisions of Section 14 or,
if a valid address does not appear to exist in the personnel records, to the last address known by
the Company of such holder. Notice of any such changes

 

 

may be provided electronically, including, without limitation, by publication of such changes
to a central website to which any holder of the RSUs or Shares issued therefrom has access.

          14. Notices. Any notice to be given under this Agreement shall be addressed to the
Company in care of its General Counsel at:

Accenture Ltd

50 W. San Fernando Street

San Jose, CA 95113

Telecopy: (408)817-2799

Attn: General Counsel

(or, if different, the then current principal business address of the duly appointed General
Counsel of the Company) and to the Participant at the address appearing in the personnel records of
the Company for the Participant or to either party at such other address as either party hereto may
hereafter designate in writing to the other. Any such notice shall be deemed effective upon
receipt thereof by the addressee.

          15. Withholding. The Participant may be required to pay to the Company or any
Affiliate and the Company or any Affiliate shall have the right and is hereby authorized to
withhold from any issuance or transfer due in connection with the RSUs under this Agreement or
under the Plan or from any compensation or other amount otherwise payable to the Participant,
applicable withholding taxes and social insurance contributions required to be withheld with
respect to the RSUs, this Agreement or any issuance or transfer under this Agreement or under the
Plan and to take such action as may be necessary in the opinion of the Company to satisfy all
obligations for the payment of such taxes and social insurance contributions. Notwithstanding the
foregoing, if the Participant’s employment with the Constituent Companies terminates prior to the
issuance or transfer of all of the Shares under this Agreement, the payment of any applicable
withholding taxes or social insurance contributions required to be withheld with respect to any
further issuance or transfer of Shares under this Agreement or the Plan shall at the Company’s
discretion be made solely through the sale of Shares equal to the statutory minimum withholding
liability.

          16. Choice of Law, Forum and Jurisdiction. The Participant acknowledges that, (a) as
of the date hereof, the Shares underlying the RSUs granted to the Participant hereunder are
publicly traded in the State of New York on the New York Stock Exchange, (b) the Company and its
Affiliates have significant operations and numbers of employees in New York, and (c) the Company,
for the purpose of ensuring predictability and uniformity of results, desires that there be a
common body of law interpreting and enforcing this Agreement. The Parties acknowledge and agree
that the State of New York has a reasonable relationship to this Agreement and the subject matter
hereof and to the Parties’ relationship to one another. The Parties therefor agree that: THE
INTERPRETATION, PERFORMANCE AND ENFORCEMENT OF THIS AGREEMENT SHALL BE GOVERNED BY THE LAWS OF THE
STATE OF NEW YORK WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW. THE PARTICIPANT AND COMPANY
EACH AGREE THAT ANY DISPUTE OR CONTROVERSY ARISING OUT OF OR CONCERNING THIS AGREEMENT SHALL
BE EXCLUSIVELY BROUGHT IN, AND RESOLVED EXCLUSIVELY BY, THE

 

 

COURTS IN THE STATE OF NEW YORK.
THE PARTICIPANT AND THE COMPANY EACH CONSENT TO THE JURISDICTION OF THE COURTS IN THE STATE OF NEW
YORK.

          17. Severability. This Agreement shall be enforceable to the fullest extent allowed
by law. In the event that a court or appointed arbitrator holds any provision of this Agreement to
be invalid or unenforceable, then, if allowed by law, that provision shall be reduced, modified or
otherwise conformed to the relevant law, judgment or determination to the degree necessary to
render it valid and enforceable without affecting the rest of this Agreement. Any provision of
this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such
jurisdiction, be deemed severable from the remainder of this Agreement, and the remaining
provisions contained in this Agreement shall be construed to preserve to the maximum permissible
extent the intent and purposes of this Agreement. Any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

          18. RSUs Subject to Plan. By entering into this Agreement, the Participant agrees and
acknowledges that the Participant has received and read a copy of the Plan. All RSUs are subject
to the Plan. In the event of a conflict between any term or provision contained herein and a term
or provision of the Plan, the applicable terms and provisions of the Plan will govern and prevail.

          19. Signature in Counterparts. This Agreement may be signed in counterparts, each of
which shall be deemed an original, with the same effect as if the signatures thereto and hereto
were upon the same instrument.

          20. Administration; Consent. In order to manage compliance with the terms of this
Agreement, Shares delivered pursuant to the Agreement may, at the sole discretion of the Company,
be registered in the name of the nominee for the holder of the Shares and/or held in the custody of
a custodian until otherwise determined by the Company. To that end, by acceptance of this
Agreement, the holder hereby appoints the Company, with full power of substitution and
resubstitution, his or her true and lawful attorney-in-fact to assign, endorse and register for
transfer into such nominee’s name or deliver to such custodian any such Shares, granting to such
attorneys, and each of them, full power and authority to do and perform each and every act and
thing whatsoever that such attorney or attorneys may deem necessary, advisable or appropriate to
carry out fully the intent of this paragraph as such person might or could do personally. It is
understood and agreed by each holder of the Shares delivered under the Agreement that this
appointment, empowerment and authorization may be exercised by the aforementioned persons with
respect to all Shares delivered pursuant to the Agreement of such holder, and held of record by
another person or entity, for the period beginning on the date hereof and ending on the later of
the date the Agreement is terminated and the date that is ten years following the last date Shares
are delivered pursuant to this Agreement. The form of the custody agreement and the identity of
the custodian and/or nominee shall be as determined from time to time by the Company in its sole
discretion. A holder of Shares delivered pursuant to the Agreement acknowledges and agrees that
the Company may refuse to register the transfer of and enter stop transfer orders against the
transfer of such Shares except for transfers deemed by it in
its sole discretion to be in compliance with the terms of this Agreement. Each holder of
Shares

 

 

delivered pursuant to the Agreement agrees to execute such additional documents and take
such other actions as may be deemed reasonably necessary or desirable by the Company to effect the
provisions of the Agreement, as in effect from time to time. Each holder of Shares delivered
pursuant to the Agreement acknowledges and agrees that the Company may impose a legend on any
document relating to or Shares issued or issuable pursuant to this Agreement conspicuously
referencing the restrictions applicable to such Shares.

          21. Section 409A — Disability, Deferral Elections, Payments to Specified Employees, and
Interpretation of Grant Terms. If the Participant is subject to income taxation on the income
resulting from this Agreement under the laws of the United States, and the foregoing provisions of
this Agreement would result in adverse tax consequences to the Participant, as determined by the
Company, under Section 409A of the U.S. Internal Revenue Code of 1986, as amended (the “Code”),
then the following provisions shall apply and supersede the foregoing provisions:

          (a) “Disability” shall mean a disability within the meaning of Section 409A(a)(2)(C) of the
Code.

          (b) Deferral elections made by U.S. taxpayers are subject to Section 409A of the Code. The
Company will use commercially reasonable efforts to not permit RSUs to be deferred, accelerated,
released, extended, paid out or modified in a manner that would result in the imposition of an
additional tax under Section 409A of the Code. In the event that it is reasonably determined by
the Company that, as a result of Section 409A of the Code, payments or delivery of the Shares
underlying the RSU award granted pursuant to this Agreement may not be made at the time
contemplated by the terms of the RSU award or your deferral election, as the case may be, without
causing the Participant to be subject to taxation under Section 409A of the Code, the Company will
make such payment or share delivery as soon as practicable on or following the first day that would
not result in your incurring any tax liability under Section 409A of the Code, and in any event, no
later than the last day of the calendar year in which such first date occurs.

          (c) If the Participant is a “specified employee” (within the meaning of Section
409A(a)(2)(B)(i) of the Code), payments and deliveries of shares in respect of any RSUs subject to
Section 409A of the Code that are linked to the date of the Participant’s separation from service
shall not be made prior to the date which is six (6) months after the date of the Participant’s
separation from service from the Company or any of its Affiliates, determined in accordance with
Section 409A of the Code and the regulations promulgated thereunder.

          (d) The Company shall use commercially reasonable efforts to avoid subjecting the Participant
to any additional taxation under Section 409A of the Code as described herein; provided that
neither the Company nor any of its employees, agents, directors or representatives shall have any
liability to the Participant with respect to Section 409A of the Code.

     22. Rule 16b-3. The grant of the RSUs to the Participant hereunder is intended to be
exempt from the provisions of Section 16(b) of the Securities Exchange Act of 1934, as
amended from time to time (the “Exchange Act”) pursuant to Rule 16b-3 promulgated under

 

 

the Exchange Act.

     23. Entire Agreement. This Agreement, including the Plan, as provided therein,
contains the entire agreement between the parties with respect to the subject matter therein and
supersedes all prior oral and written agreements between the parties pertaining to such matters.

          IN WITNESS WHEREOF, the parties hereto have executed this Agreement effective as of the Date
of Grant set forth on the attached Essential Grant Terms.

	 	 	 	 	 
	 

	 	ACCENTURE LTD	 	 
	 
	 	 	 	 
	 

	 	By:	 	 
	 
	 	 	 	 
	 

	 		 	 
	 
	 	 	 	 
	 

	 	Douglas G. Scrivner

General Counsel, Secretary and Compliance
Officer	 	 
	 
	 	 	 	 
	 

	 	PARTICIPANT	 	 
	 
	 
	 	 	 	 
	 

	 	 

Signature
	 	 
	 
	 	 	 	 
	 
	 

	 	 

	 	 
	 
	 

	 	 

Print Name
	 	 
	 
	 	 	 	 
	 
	 

	 	 

Date
	 	 
	 
	 	 	 	 
	 
	 

	 	 

Employee ID
	 	 

 

 

APPENDIX A

DATA PROTECTION PROVISION

	(a)	 	By participating in the Plan or accepting any rights granted under it, the Participant
consents to the collection and processing by the Company and its Affiliates of personal data
relating to the Participant by the Company and its Affiliates so that they can fulfill their
obligations and exercise their rights under the Plan, issue certificates (if any), statements
and communications relating to the Plan and generally administer and manage the Plan,
including keeping records of participation levels from time to time. Any such processing
shall be in accordance with the purposes and provisions of this data protection provision.
References in this provision to the Company and its Affiliates include the Participant’s
employer.
	 
	 	 	These data will include data:

	 	(i)	 	already held in the Participant’s records such as the Participant’s name and
address, ID number, payroll number, length of service and whether the Participant works
full-time or part time;
	 
	 	(ii)	 	collected upon the Participant accepting the rights granted under the Plan (if
applicable); and
	 
	 	(iii)	 	subsequently collected by the Company or any of its Affiliates in relation to the
Participant’s continued participation in the Plan, for example, data about shares
offered or received, purchased or sold under the Plan from time to time and other
appropriate financial and other data about the Participant and his or her participation
in the Plan (e.g., the date on which the shares were granted, termination of employment
and the reasons of termination of employment or retirement of the Participant).

	(b)	 	This consent is in addition to and does not affect any previous consent provided by the
Participant to the Company or its Affiliates.
	 
	(c)	 	In particular, the Participant expressly consents to the transfer of personal data about the
Participant as described in paragraph (a) above by the Company and its Affiliates. Data may
be transferred not only within the country in which the Participant is based from time to time
or within the EU or the European Economic Area, but also worldwide, to other employees and
officers of the Company and its Affiliates and to the following third parties for the purposes
described in paragraph (a) above:

	 	(i)	 	Plan administrators, auditors, brokers, agents and contractors of, and third party
service providers to, the Company or its Affiliates such as printers and mail houses
engaged to print or distribute notices or communications about the Plan;

 

 

	 	(ii)	 	regulators, tax authorities, stock or security exchanges and other supervisory,
regulatory, governmental or public bodies as required by law;
	 
	 	(iii)	 	actual or proposed merger partners or proposed assignees of, or those taking or
proposing to take security over, the business or assets of the Company or its Affiliates
and their agents and contractors;
	 
	 	(iv)	 	other third parties to whom the Company or its Affiliates may need to
communicate/transfer the data in connection with the administration of the Plan, under a
duty of confidentiality to the Company and its Affiliates; and
	 
	 	(v)	 	the Participant’s family members, physicians, heirs, legatees and others associated
with the Participant in connection with the Plan.

Not all countries, where the personal data may be transferred to, have an equal level of
data protection as in the EU or the European Economic Area. Countries to which data are
transferred include the USA and Bermuda.

All national and international transfer of personal data is only done in order to fulfill
the obligations and rights of the Company and/or its Affiliates under the Plan.

The Participant has the right to be informed whether the Company or its Affiliates hold
personal data about the Participant and, to the extent they do so, to have access to those
personal data at no charge and require them to be corrected if they are inaccurate or to be
destroyed if the Participant wishes to withdraw his or her consent. The Participant is
entitled to all the other rights provided for by applicable data protection law, including
those detailed in any applicable documentation or guidelines provided to the Participant by
the Company or its Affiliates in the past. More detailed information is available to the
Participant by contacting the appropriate local data protection officer in the country in
which the Participant is based from time to time. If the Participant has a complaint
regarding the manner in which personal information relating to the Participant is dealt
with, the Participant should contact the appropriate local data protection officer referred
to above.

	(d)	 	The processing (including transfer) of data described above is essential for the
administration and operation of the Plan. Therefore, in cases where the Participant wishes to
participate in the Plan, it is essential that his/her personal data are processed in the
manner described above. At any time the Participant may withdraw his or her consent.EX-10.1

EXHIBIT 10.1

ESCROW AGREEMENT

     THIS
ESCROW AGREEMENT (the “Agreement”) is made and
entered into as of the 26th day
of March, 2009, by and
among Moody National REIT I, Inc., a Maryland corporation (the
“Company”), Moody Securities, LLC (the “Dealer Manager”), and UMB Bank, N.A., a
national banking association, as escrow agent (the “Escrow Agent”).

     WHEREAS, the Company proposes to offer for sale (the “Offering”), on a continuing
basis, up to $1,100,000,000 shares of the Company’s common stock, par value $0.01 per share (the
“Shares”), pursuant to the terms of the prospectus (the “Prospectus”) contained in
the registration statement on Form S-11, as amended, filed with the Securities and Exchange
Commission under the Securities Act of 1933, as amended, and dated
March 26, 2009;

     WHEREAS, the Dealer Manager, a registered broker-dealer and member of the Financial Industry
Regulatory Authority (“FINRA”), has agreed to serve as the dealer manager for the Offering
and will offer the Shares through other registered broker-dealers that are members of FINRA (the
“Dealers”);

     WHEREAS, it is anticipated that investors will subscribe for the Shares and will provide the
Dealer Manager with subscription payments for such Shares (the “Subscription Payments”),
which subscriptions will be contingent upon (i) their respective acceptances by the Company and
(ii) the Company’s acceptance of subscriptions aggregating $2,000,000 of Shares (the “Minimum
Amount”) deposited into escrow;

     WHEREAS, the Company and the Dealer Manager desire to deposit funds contributed by the
Subscribers (as defined below) with the Escrow Agent, to be held for the benefit of the Subscribers
and the Company until such time as subscriptions for the Minimum Amount have been deposited into
escrow or otherwise in accordance with the terms of this Agreement;

     WHEREAS, the Company and DST Systems, Inc., a Delaware corporation (the “Transfer Agent”) have
entered into that certain Agency Agreement whereby the Company has appointed Transfer Agent as
“transfer agent” as defined under the Securities Exchange Act of 1934;

     WHEREAS, the Escrow Agent has agreed to receive and hold in escrow all Subscription Payments
until the earlier of (i) such time as subscriptions for the Minimum Amount have been received and
accepted by the Company or (ii) the close of business on the date exactly one year after the
original effective date of the Prospectus (the Company shall provide written notice of such date to
the Escrow Agent) (the “Minimum Subscription Termination Date”), and to hold and distribute
such Subscription Payments in accordance with the terms and conditions herein set forth; and

     WHEREAS, the Escrow Agent is willing to accept appointment as the escrow agent for only the
expressed duties, terms and conditions outlined herein.

 

 

     NOW, THEREFORE, in consideration of the premises and agreements set forth herein, the parties
hereto agree as follows:

     1. Appointment of Escrow Agent. The Company and the Dealer Manager hereby appoint the
Escrow Agent to serve as escrow agent, and the Escrow Agent hereby accepts such appointment, each
in accordance with the terms of this Agreement. The Company and the Dealer Manager hereby
acknowledge that the status of the Escrow Agent is that of agent only for the limited purposes set
forth herein, and hereby agree that they will not represent that the Escrow Agent has investigated
the desirability or advisability of investment in the Shares or has approved, endorsed or passed
upon the merits of the investment therein. The Company and the Dealer Manager further agree that
the name of the Escrow Agent shall not be used in any manner in connection with the offer or sale
of the Shares other than to state that the Escrow Agent has agreed to serve as escrow agent for the
limited purposes set forth herein.

     2. Proceeds. An investor subscribing to purchase Shares (the “Subscriber”)
will be instructed by the Dealer Manager or the Dealers to remit the purchase price in the form of
checks, drafts or money orders (the “Payment Instruments”) payable to the order of, or
funds wired in favor of, “UMB Bank, N.A., as escrow agent for Moody National REIT I, Inc.” (the
“Escrow Account”), or, after the Company meets the Minimum Amount, payable to the order of,
or funds wired in favor of “Moody National REIT I, Inc.” By noon of the next business day after
receipt of any Payment Instruments, the Dealer Manager or the Dealers shall remit to the Escrow
Agent the Payment Instruments. Such Payment Instruments shall be retained in the Escrow Account by
the Escrow Agent and invested as set forth in Section 7 and shall be deposited promptly following
receipt.

     Prior to meeting the Minimum Amount and the disbursement of Collected Funds to Company in
accordance with Section 4 of this Agreement, upon receipt of the Payment Instruments, Escrow Agent
shall fax or scan a listing of the Subscriber name and purchase price to Transfer Agent, together
with all other subscription documents sent with the Payment Instruments.

     In the event that any Payment Instruments deposited in the Escrow Account prove uncollectible
after the funds represented thereby have been released by the Escrow Agent to the Company, then the
Dealer Manager or Company shall promptly reimburse the Escrow Agent for any and all costs incurred
for such, upon request, and the Escrow Agent shall deliver the uncollectible Payment Instrument to
the Company. Notwithstanding the foregoing, if any Subscriber exercises any right provided by law
to rescind his or her subscription, the Escrow Agent shall, upon notice from the Company or the
Dealer Manager, return to such Subscriber all Subscription Payments pertaining to such
subscription, together with any earnings thereon during the period that such payments were held by
the Escrow Agent under this Agreement.

     3. Subscriber Identity. Upon receipt of a Payment Instrument by the Escrow Agent, the
Dealer Manager shall furnish to the Escrow Agent each accepted Subscriber’s name, address, social
security number or tax identification number, number of Shares purchased and purchase price
remitted. All proceeds so deposited shall be considered the property of the Subscribers and shall
be held for the benefit of such Subscribers and shall not be: (i) commingled

 

 

with the monies or become an asset of the Company, or (ii) subject to any liens or charges by
the Company or the Escrow Agent, or judgments or creditors’ claims against the Company, until
released to the Company as hereinafter provided. The Escrow Agent will not use the information
provided to it by the Company for any purpose other than to fulfill its obligations as the Escrow
Agent. The Escrow Agent agrees to treat all Subscriber information as confidential.

     4. Disbursement of Proceeds. On a weekly basis, and at the end of the third business
day following the Minimum Subscription Termination Date (and more frequently, if requested by the
Company), the Escrow Agent shall notify the Company and Transfer Agent of the amount of Payment
Instruments received (the “Collected Funds”) since the last report. If (a) the Collected
Funds are in an amount equal to or greater than the Minimum Amount at any time prior to the Minimum
Subscription Termination Date, and (b) an officer of the Company has delivered a an affidavit or
certification to the Escrow Agent stating that (i) Collected Funds for the Minimum Amount of Shares
from persons who are not affiliated with the Company or its advisor has been timely raised, (ii)
the date on which the Minimum Amount were raised and (iii) the actual number of total shares sold
(the “Notice”), then the Escrow Agent shall deliver the Collected Funds and all earnings
thereon to the Company when and as directed by the Notice. Following such disbursement, the Escrow
Account shall close and thereafter the Escrow Agent shall forward directly to the Transfer Agent,
upon receipt, any subscription documents and Payment Instruments received from Subscribers.

     If the Collected Funds are not equal to the Minimum Amount on the Minimum Subscription
Termination Date, the Escrow Agent shall (i) notify the Company, Transfer Agent and the Dealer
Manager immediately following the Minimum Subscription Termination Date and (ii) within a
reasonable time following the Minimum Subscription Termination Date, but in no event more than
thirty (30) days after the Minimum Subscription Termination Date, refund to each of the Subscribers
all sums paid by the Subscribers, with a pro-rata portion of any interest earned thereon, unless,
prior to such Minimum Subscription Termination Date, the Minimum Subscription Termination Date has
been extended by the Company for up to an additional one hundred and twenty (120) days. The
Company shall provide written notice to the Escrow Agent of any such Minimum Subscription
Termination Date extension.

     5. Duty and Liability of the Escrow Agent. The sole duty of the Escrow Agent, other
than as herein specified, shall be to receive the Subscribers’ Payment Instruments and hold them
subject to release, in accordance herewith, and the Escrow Agent shall be under no duty to
determine whether the Company or the Dealer Manager is complying with requirements of this
Agreement or the Prospectus in tendering to the Escrow Agent said proceeds of the sale of the
Shares. The Escrow Agent shall have the right to perform any of its duties hereunder through its
agents, attorneys, custodians or nominees. The Escrow Agent shall not be liable for any action
taken or omitted by it, or any action suffered by it to be taken or omitted, in good faith, and in
the exercise of its own best judgment, and may conclusively rely upon and shall be protected in
acting upon any statement, certificate, notice, request, consent, order or other document
reasonably believed by it to be genuine and to have been signed or presented by the proper party or
parties. The Escrow Agent shall have no duty or liability to verify any such statement,
certificate, notice, request, consent, order or other document, and its sole responsibility shall
be to act only as expressly set forth in this Agreement. The Escrow Agent shall be under no

 

 

obligation to institute or defend any action, suit or proceeding in connection with this
Agreement unless first indemnified to its satisfaction. The Escrow Agent may consult and hire
counsel in respect of any question arising under this Agreement, and the Escrow Agent shall not be
liable for any action taken or omitted in good faith upon advice of such counsel.

     The Escrow Agent is acting solely as escrow agent hereunder and owes no duties, covenants or
obligations, fiduciary or otherwise, to any other person by reason of this Agreement, except as
otherwise stated herein, and no implied duties, covenants or obligations, fiduciary or otherwise,
shall be read into this Agreement against the Escrow Agent.  In no event shall the Escrow Agent be
liable, directly or indirectly, for any (i) damages, losses or expenses arising out of the services
provided hereunder, other then damages, losses or expenses which have been finally adjudicated to
have directly resulted from the Escrow Agent’s gross negligence or willful misconduct, or (ii)
special, indirect or consequential losses or damages of any kind whatsoever (including without
limitation lost profits), even if the Escrow Agent has been advised of the possibility of such
losses or damages and regardless of the form of action. The parties agree that the Escrow Agent
has no role in the preparation of the Offering documents, has not reviewed any such documents and
makes no representations or warranties with respect to the information contained therein or omitted
therefrom. The Escrow Agent agrees that it may be named in the Prospectus and Offering documents,
to the extent necessary to describe this Agreement and the duties of the Escrow Agent herein. The
Escrow Agent shall have no obligation, duty or liability with respect to compliance with any
federal or state securities, disclosure or tax laws concerning the Offering documents or the
issuance, offering or sale of the Shares. The Escrow Agent shall have no duty or obligation to
monitor the application and use of the Subscriber funds once transferred to the Company, that being
the sole obligation and responsibility of the Company.

     6. Escrow Agent Fee. The Escrow Agent shall be entitled to compensation for its
services, as stated in the fee schedule attached hereto as Exhibit A, which compensation
shall be paid by the Company. Subject to the provisions of Section 10, the fee agreed upon for the
services rendered hereunder in Exhibit A is intended as full compensation for the Escrow
Agent’s services as contemplated by this Agreement. Notwithstanding anything contained herein to
the contrary, in no event shall any fee, reimbursement for costs and expenses, indemnification for
damages incurred by the Escrow Agent or monies whatsoever be paid out of or chargeable to the
income of assets of the Escrow Account.

     7. Investment of Subscription Payments. The Escrow Agent shall invest all Collected
Funds in the Fidelity Treasury 2016 (FT), or a successor or similar fund or account offered by the
Escrow Agent

     Any interest received by the Escrow Agent with respect to the Collected Funds, including
reinvested interest, shall become part of the proceeds of the Escrow Account (the “Escrow
Income”), and shall be disbursed to the Company if Collected Funds, including interest
earnings, total the Minimum Amount. Any loss or expense incurred as a result of an investment will
be borne by the Escrow Account.

 

 

     The parties recognize and agree that the Escrow Agent will not provide supervision,
recommendations or advice relating to either the investment of moneys held in the Escrow Account or
the purchase, sale, retention or other disposition of any permitted investment.

     The Escrow Agent is hereby authorized to execute purchases and sales of permitted investments
through the facilities of its own trading or capital markets operations or those of any affiliated
entity. The Escrow Agent shall send statements to each of the parties hereto on a monthly basis
reflecting activity in the Escrow Account for the preceding month. No statement need be rendered
for the Escrow Account if no activity occurred for such month.

     The Company and the Dealer Manager acknowledge and agree that the delivery of the escrowed
property is subject to the sale and final settlement of permitted investments. Proceeds of a sale
of permitted investments will be delivered on the business day on which the appropriate
instructions are delivered to the Escrow Agent if received prior to the deadline for same day sale
of such permitted investments. If such instructions are received after the applicable deadline,
proceeds will be delivered on the next succeeding business day.

     8. Tax Reporting. As of each calendar year-end, the Escrow Agent shall report to the
Internal Revenue Service (the “IRS”) and to the Company or Subscribers all income earned
from the investment of any sum held in the Escrow Account against the Company or each Subscriber,
as and to the extent required under the provisions of the Internal Revenue Code of 1986, as
amended, and the regulations promulgated thereunder (the “Code”). For the avoidance of
doubt, all interest or other taxable income earned on the Collected Funds in any tax year shall be
taxable to the person or entity receiving the interest or other taxable income.

     The Company shall provide the Escrow Agent with certified tax identification numbers by
furnishing appropriate IRS forms W-9 or W-8 and other forms and documents that the Escrow Agent may
reasonably request. The parties hereto understand that if such tax reporting documentation is not
so certified to the Escrow Agent, the Escrow Agent may be required by the Internal Revenue Code of
1986, as amended, to withhold a portion of any interest or other income earned on the Collected
Funds pursuant to this Agreement for the Escrow Agent is not required to prepare and file any
income or other tax returns applicable to the Escrow Account with the IRS or required state and
local departments of revenue for years income is earned in any particular tax year. Any taxes
payable on income earned from the investment of any sums held in the Escrow Account shall be paid
by the Company or each Subscriber, whether or not the income was distributed by the Escrow Agent
during any particular year and to the extent required under the provisions of the Code.

     To the extent that payment is due on any taxes in respect of income derived from the
investment of funds held or payments made hereunder, the Escrow Agent shall satisfy such liability
to the extent possible from the Collected Funds and the Escrow Agent shall not be liable for the
payment of such taxes in the event the Collected Funds are insufficient to pay such taxes. The
Company agrees to indemnify and hold the Escrow Agent harmless from and against any taxes,
additions for late payment, interest, penalties and other expenses that may be assessed against the
Escrow Agent on or with respect to any payment or other activities under this Agreement unless any
such tax, addition for late payment, interest, penalties and other expenses

 

 

shall arise out of or be caused by the gross negligence or willful misconduct of the Escrow Agent.

     9. Notices. All notices, requests, demands and other communications under this
Agreement shall be in writing and shall be deemed to have been duly given (i) on the date of
service if served personally on the party to whom notice is to be given, (ii) on the day of
transmission if sent by facsimile transmission to the facsimile number given below, and written
confirmation of receipt is obtained promptly after completion of transmission, (iii) on the day
after delivery to the United Parcel Service or similar overnight courier or the Express Mail
service maintained by the United States Postal Service and sent via overnight delivery or (iv) on
the fifth day after mailing, if mailed to the party to whom notice is to be given, by first class
mail, registered or certified, postage prepaid, and properly addressed, return receipt requested,
to the party as follows:

If to Company:

Moody
National REIT I, Inc.

6363 Woodway, Suite 110

Houston, TX 77057

Attention: Brett C. Moody

Fax: 713-977-7505

If to the Dealer Manager:

Moody Securities, LLC

2010 Main Street, Suite 300

Irvine, CA 92614

Attention: Mary E. Smith

Fax: 949-786-7501

If to the Escrow Agent:

UMB Bank, N.A.

1010 Grand Blvd., 4th Floor

Mail Stop: 1020409

Kansas City, Missouri 64106

Attn: Lara Stevens

Corporate Trust

Telephone: 816-860-3017

Fax: 816-860-3029

If to the Transfer Agent:

1055 Broadway, 7th Floor

Kansas City, Missouri 64105

Attn: Group Vice President-Full Service

 

 

Facsimile No.: 816-435-3455

Wires to the Escrow Agent should be directed to the following:

UMB Bank, N.A.

ABA Routing Number: 101000695

Account Number: 9871737772

Any party may change its address for purposes of this paragraph by giving the other party written
notice of the new address in the manner set forth above.

     10. Indemnification of the Escrow Agent. The Company and the Dealer Manager hereby
jointly and severally indemnify and hold the Escrow Agent (and its officers, directors, employees
and agents) harmless from and against any and all loss, claim, liability, cost, damage and expense,
including, without limitation, reasonable counsel fees and expenses, which the Escrow Agent may
suffer or incur by reason of any action, claim or proceeding brought against the Escrow Agent
arising out of or relating in any way to this Agreement or any transaction to which this Agreement
relates unless such action, claim or proceeding is the result of the willful misconduct or gross
negligence of the Escrow Agent. The provisions of this section shall survive the termination of
this Agreement and the resignation or removal of the Escrow Agent.

     11. Attachment of Escrow Account; Compliance with Legal Orders. In the event that any
escrow property shall be attached, garnished or levied upon by any court order, or the delivery
thereof shall be stayed or enjoined by an order of a court, or any order, judgment or decree shall
be made or entered by any court order affecting the property deposited under this Agreement, the
Escrow Agent is hereby expressly authorized, in its sole discretion, to obey and comply with all
writs, orders or decrees so entered or issued, which it is advised by legal counsel of its own
choosing is binding upon it, whether with or without jurisdiction, and in the event that the Escrow
Agent obeys or complies with any such writ order or decree it shall not be liable to any of the
parties hereto or to any other person, firm of corporation, by reason of such compliance
notwithstanding such writ, order or decree by subsequently reversed, modified, annulled, set aside
or vacated.

     12. Successors and Assigns.

          (i) Except as otherwise provided in this Agreement, no party hereto shall assign this
Agreement or any rights or obligations hereunder without the prior written consent of the other
parties hereto and any such attempted assignment without such prior written consent shall be void
and of no force and effect. This Agreement shall inure to the benefit of and shall be binding upon
the heirs, executors, administrators, successors and permitted assigns of the parties hereto.

          (ii) Notwithstanding the above, any corporation or association into which the Escrow Agent may
be converted or merged, or with which it may be consolidated, or to which it may sell or transfer
all or substantially all of its corporate trust business and assets as a whole or substantially as
a whole, or any corporation or association resulting from any such conversion,

 

 

sale, merger, consolidation or transfer to which the Escrow Agent is a party, shall be and
become the successor Escrow Agent under this Agreement and shall have and succeed to the rights,
powers, duties, immunities and privileges as its predecessor, without the execution or filing of
any instrument or paper or the performance of any further act.

     13. Term. This Agreement shall terminate within thirty (30) days of receipt of
written notice of termination by the Company and the Dealer Manager to the Escrow Agent. In the
event of the release of all Subscriber funds and all accrued interest in accordance with Section 4
of this Agreement, this Agreement shall terminate and the Escrow Agent shall be relieved of all
responsibilities in connection with the Escrow Account, except claims which are occasioned by its
gross negligence or willful misconduct.

     14. Governing Law; Jurisdiction. This Agreement shall be construed, performed, and
enforced in accordance with, and governed by, the internal laws of the State of Missouri, without
giving effect to the principles of conflicts of laws thereof. Each party hereby consents to the
personal jurisdiction and venue of any court of competent jurisdiction in the State of Missouri.

     15. Severability. In the event that any part of this Agreement is declared by any
court or other judicial or administrative body to be null, void or unenforceable, said provision
shall survive to the extent it is not so declared, and all of the other provisions of this
Agreement shall remain in full force and effect.

     16. Amendments; Waivers. This Agreement may be amended or modified, and any of the
terms, covenants, representations, warranties or conditions hereof may be waived, only by a written
instrument executed by the parties hereto or, in the case of a waiver, by the party waiving
compliance. Any waiver by any party of any condition, or of the breach of any provision, term,
covenant, representation or warranty contained in this Agreement, in any one or more instances,
shall not be deemed to be nor construed as further or continuing waiver of any such condition, or
of the breach of any other provision, term, covenant, representation or warranty of this Agreement.

     17. Entire Agreement; Counterparts. This Agreement contains the entire understanding
among the parties hereto with respect to the escrow contemplated hereby and supersedes and replaces
all prior and contemporaneous agreements and understandings, oral or written, with regard to such
escrow. This Agreement, and any amendments hereto, may be executed by the parties hereto in two or
more counterparts, each of which shall be deemed an original. Copies, telecopies, facsimiles,
electronic files and other reproductions of original executed documents shall be deemed to be
authentic and valid counterparts of such original documents for all purposes, including the filing
of any claim, action or suite in the appropriate court of law.

     18. Section Headings. The section headings in this Agreement are for reference
purposes only and shall not affect the meaning or interpretation of this Agreement.

 

 

     19. Disputes. In the event of a disagreement among any of the parties to this
Agreement, or among them or any other person resulting in adverse claims and demands being made in
connection with or from any property in the Escrow Account, the Escrow Agent shall be entitled to
refuse to comply with any such claims or demands as long as such disagreement may continue, and in
so refusing, shall make no delivery or other disposition of any property then held by it in the
Escrow Account under this Agreement, and in so doing, the Escrow Agent shall be entitled to
continue to refrain from acting until (i) the right of adverse claimants shall have been finally
settled by binding arbitration or finally adjudicated in a court assuming and having jurisdiction
of the property involved herein or affected hereby or (ii) all differences shall have been adjusted
by agreement and the Escrow Agent shall have been notified in writing of such agreement signed by
the parties hereto.

     In the event of such dispute, the Escrow Agent shall be entitled, in its discretion and
judgment, to tender into the registry or custody of any court of competent jurisdiction all money
or property in its hands under this Agreement, together with such legal pleadings as the Escrow
Agent deems appropriate, and thereupon be discharged from all further duties and liabilities under
this Agreement. In the event of any uncertainty as to its duties hereunder, the Escrow Agent may
refuse to act under the provisions of this Agreement pending order of a court of competent
jurisdiction and the Escrow Agent shall have no liability to the Company, the Dealer Manager or to
any other person as a result of such action. Any such legal action may be brought in such court as
the Escrow Agent shall determine to have jurisdiction thereof. The filing of any such legal
proceedings shall not deprive the Escrow Agent of its compensation earned prior to such filing.

     20. Limited Purpose. The Company and the Dealer Manager hereby acknowledge that the
Escrow Agent is serving as the escrow agent only for the limited purposes herein set forth, and
hereby agree that they will not represent or imply that the Escrow Agent, by serving as the Escrow
Agent hereunder or otherwise, have investigated the desirability or advisability of investment in
the Company or have approved, endorsed or passed upon the merits of the Shares, nor shall they use
its name in any manner whatsoever in connection with the offer or sale of the Shares other than by
acknowledgment that the Escrow Agent has agreed to serve as the Escrow Agent for the limited
purposes set forth herein.

     21. Resignation. The Escrow Agent may resign upon thirty (30) days advance written
notice to the Company and the Dealer Manager. Such resignation shall become effective on the date
specified in such notice, which shall be not earlier than thirty (30) days after such written
notice has been given. In the event of any such resignation, a successor escrow agent, which shall
be a bank or trust company organized under the laws of the United States of America, shall be
appointed by the mutual agreement of the Company and the Dealer Manager. Any such successor escrow
agent shall deliver to the Company and the Dealer Manager a written instrument accepting such
appointment, and thereupon shall succeed to all the rights and duties of the Escrow Agent hereunder
and shall be entitled to receive the Escrow Account from the Escrow Agent. The Escrow Agent shall
promptly pay the Subscription Payments in the Escrow Account, including interest thereon, to the
successor escrow agent. If a successor escrow agent is not appointed by the Company or the Dealer
Manager within the thirty (30) day period following such notice, the Escrow Agent may petition any
court of competent jurisdiction to

 

 

name a successor escrow agent. All costs, expenses and reasonable attorneys fees the Escrow
Agent incurs in connection with such proceeding shall be paid by the Company.

     22. Removal. The Escrow Agent may be jointly removed by the Company and the Dealer
Manager at any time, by written notice executed by both of them (which may be executed in
counterparts) provided to the Escrow Agent, which instrument shall become effective on the date
specified in such written notice. The removal of the Escrow Agent shall not deprive the Escrow
Agent of its compensation earned prior to such removal. In the event of any such removal, a
successor escrow agent, which shall be a bank or trust company organized under the laws of the
United States of America, shall be appointed by the mutual agreement of the Company and the Dealer
Manager. Any such successor escrow agent shall deliver to the Company and the Dealer Manager a
written instrument accepting such appointment, and thereupon shall succeed to all the rights and
duties of the Escrow Agent hereunder and shall be entitled to receive the Escrow Account from the
Escrow Agent. The Escrow Agent shall promptly pay the Subscription Payments in the Escrow Account,
including interest thereon, to the successor escrow agent. If a successor escrow agent is not
appointed by the Company or the Dealer Manager within the thirty (30) day period following such
notice, the Escrow Agent may petition any court of competent jurisdiction to name a successor
escrow agent. All costs, expenses and reasonable attorneys fees the Escrow Agent incurs in
connection with such proceeding shall be paid by the Company.

     23. Maintenance of Records. The Escrow Agent shall maintain accurate records of all
transactions hereunder. Promptly after the termination of this Agreement, and as may from time to
time be reasonably requested by the Company before such termination, the Escrow Agent shall provide
the Company with a copy of such records, certified by the Escrow Agent to be a complete and
accurate account of all transactions hereunder. The authorized representatives of the Company and
the Dealer Manager shall also have access to the Escrow Agent’s books and records to the extent
relating to its duties hereunder, during normal business hours upon reasonable notice to the Escrow
Agent, and at the requesting party’s expense.

     24. Force Majeure. No party to this Agreement shall be liable to any other party for
losses arising out of, or the inability to perform its obligations under the terms of this
Agreement, due to acts of God, which shall include, but shall not be limited to, fire, floods,
strikes, mechanical failure, war, riot, nuclear accident, earthquake, terrorist attack, computer
piracy, cyber-terrorism or other acts beyond the control of the parties hereto.

     25. Representatives. The applicable persons designated on Exhibit B hereto
have been duly appointed to act as its representatives hereunder and have full power and authority
to execute and deliver any written directions, to amend, modify or waive any provision of this
Agreement and to take any and all other actions on behalf of the Company or Dealer Manager, as
applicable, under this Agreement, all without further consent or direction from, or notice to, it
or any other party.

     26. USA PATRIOT Act. Company and Dealer Manager acknowledge that a portion of the
identifying information set forth on Exhibit B is being requested by the Escrow Agent in
connection with the USA Patriot Act, Pub.L. 107-56 (the “Act”), and Company and Dealer

 

 

Manager agree to provide any additional information requested by the Escrow Agent in
connection with the Act or any similar legislation or regulation to which Escrow Agent is subject,
in a timely manner. The Company and the Dealer Manager each represents that its respective
identifying information set forth on Exhibit B, including without limitation, its Taxpayer
Identification Number assigned by the Internal Revenue Service or any other taxing authority, is
true and complete on the date hereof and will be true and complete at the time of any disbursement
of the Escrow Funds.

     27. Illegal Activities. Escrow Agent shall have the rights in its sole discretion to
not accept appointment as escrow agent and reject funds and collateral from any party in the event
that Escrow Agent has reason to believe that such funds or collateral violate applicable banking
practices or applicable laws or regulations, including but not limited to the Patriot Act. In the
event of suspicious or illegal activity and pursuant to all applicable laws, regulations and
practices, the other parties to this Agreement will assist Escrow Agent and comply with any
reviews, investigations and examinations directed against the deposited funds.

[Remainder of page intentionally left blank]

 

 

  IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed the
day and year first set forth above.

	 	 	 	 	 	 	 
	 	 	MOODY NATIONAL REIT
I, INC., 
a Maryland corporation, the Company	 	 
	 
	 	 	 	 	 	 
	                                                       
	 

	 	By:	 	/s/ Brett C. Moody	 	 
	 

	 	Name:
	 	Brett C. Moody

	 	 
	 

	 	Title:
	 	Chief Executive Officer and President

	 	 
	                                                        
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 	 	MOODY SECURITIES, LLC, a Delaware
 limited liability company, as Dealer Manager	 	 
	 
	 	 	 	 	 	 
	                                                       
	 

	 	By:	 	/s/ Mary Smith	 	 
	 

	 	Name:
	 	Mary Smith

	 	 
	 

	 	Title:
	 	President

	 	 
	                                                        
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 	 	UMB BANK, N.A., a national banking
 association, as Escrow Agent	 	 
	 
	 	 	 	 	 	 
	                                                       
	 

	 	By:	 	/s/ Lara
L. Stevens	 	 
	 

	 	Name:
	 	Lara
L. Stevens

	 	 
	 

	 	Title:
	 	Vice
President

	 	 
	 

	 	 	 	 

	 	 
	                                                        

 

 

EXHIBIT A

These fees are based upon our current understanding of our duties under the escrow agreement.
Escrow Agent reserves the right to adjust its fees should the duties change under the agreement.

ONE-TIME ESCROW AGENT FEE

	 	 	 	 	 
	Review escrow agreement and establish account
	 	$	8,000.00	 

TRANSACTION FEES

	 	 	 	 	 
	(a) per outgoing disbursement
	 	$	25.00	 
	(b) per form 1099 (Int., B or Misc.)
	 	$	15.00	 
	(c) per investment purchase, sale or settlement
	 	$	35.00 	*

 

			
	*	 	Excludes money market transactions

Fees specified are for the regular, routine services contemplated by the Escrow Agreement, and any
additional or extraordinary services, including but not limited to disbursements involving a
dispute or arbitration, or administration while a dispute, controversy or adverse claim is in its
existence, will be charged based upon time required at the then standard hourly rate. In addition
to the specified fees, all expenses related to the administration of the Escrow Agreement (other
than normal overhead expenses of the regular staff) such as, but not limited to, travel, postage,
shipping, courier, telephone, facsimile, supplies, legal fees, accounting fees, etc., will be
reimbursable. The escrow agent fee will be payable at the initiation of the escrow and will be for
a period of one year. If the escrow period extends beyond one year, an additional escrow agent fee
of $750.00 per month will be payable.

The Escrow Agent shall have the right to perform its duties under the Escrow Agreement either
directly or through agents and shall not be responsible for any misconduct or negligence on the
part of any agent appointed or chosen by it with due care. The Company shall reimburse the Escrow
Agent for any reasonable expenses incurred by the Escrow Agent in the hiring of any third party
agent with the duties set forth in this Agreement. Such expenses are estimated to be $3,000.00 and
are included in the One-Time Escrow Agent fee stated above.

 

 

Exhibit B

	 	 	 
	Company
	 	 
	Representative:

	 	The following individual(s) is hereby appointed as
representative of the Company under the Escrow Agreement:

	 	 	 	 	 	 	 	 	 
	 

	 	Name:
	 	 	 	Specimen Signature:	 	 
	 

	 	 	 	 
	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	Name:
	 	 	 	Specimen Signature:	 	 
	 

	 	 	 	 
	 	 	 	 

	 	 	 
	Dealer Manager
	 	 
	Representative:

	 	The following individual(s) is hereby appointed as
representative of the Dealer Manager under the Escrow
Agreement:

	 	 	 	 	 	 	 	 	 
	 

	 	Name:
	 	 	 	Specimen Signature:	 	 
	 

	 	 	 	 
	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	Name:
	 	 	 	Specimen Signature:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00156-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00156-of-00352.parquet"}]]