Document:

EX-10.1

 Exhibit 10.1 

Execution Version 
  

 
 EMPLOYEE
MATTERS AGREEMENT 
 BY AND BETWEEN 

LA QUINTA HOLDINGS INC. 

AND 

COREPOINT LODGING INC. 

DATED AS OF 

January 17, 2018 
  

 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
		
	Article I DEFINITIONS	  	 	1	 
	 Section 1.1.
	 	Definitions	  	 	1	 
	 Section 1.2.
	 	Interpretation	  	 	5	 
		
	Article II GENERAL PRINCIPLES FOR ALLOCATION OF LIABILITIES	  	 	7	 
	 Section 2.1.
	 	Allocation of Liabilities	  	 	7	 
	 Section 2.2.
	 	Service Credit	  	 	8	 
	 Section 2.3.
	 	Plan Participation	  	 	8	 
	 Section 2.4.
	 	Plan Administration	  	 	8	 
	 Section 2.5.
	 	No Duplication or Acceleration of Benefits	  	 	9	 
	 Section 2.6.
	 	No Expansion of Participation	  	 	9	 
		
	Article III ASSIGNMENT OF EMPLOYEES	  	 	9	 
	 Section 3.1.
	 	Active Employees	  	 	9	 
	 Section 3.2.
	 	Employment Law Obligations	  	 	10	 
	 Section 3.3.
	 	Employee Records	  	 	11	 
		
	Article IV EQUITY AND EQUITY-BASED COMPENSATION	  	 	12	 
	 Section 4.1.
	 	General Principles	  	 	12	 
	 Section 4.2.
	 	Treatment of LQ RSAs Held by LQ Group Employees and CPLG Group Employees	  	 	13	 
	 Section 4.3.
	 	Treatment of LQ RSUs Held by LQ Directors	  	 	13	 
	 Section 4.4.
	 	Section 16(b) of the Exchange Act	  	 	13	 
	 Section 4.5.
	 	Treatment of LQ PSUs	  	 	13	 
	 Section 4.6.
	 	LQ Group Employee’s Treatment of CPLG Awards Upon Certain Terminations	  	 	14	 
	 Section 4.7.
	 	Liabilities for Settlement of Awards	  	 	14	 
	 Section 4.8.
	 	Short-Term Incentive Payments for CPLG Group Employees	  	 	15	 
	 Section 4.9.
	 	Form S-8	  	 	16	 
	 Section 4.10.
	 	Tax Reporting and Withholding for Equity-Based Awards	  	 	16	 
	 Section 4.11.
	 	Cooperation	  	 	16	 
	 Section 4.12.
	 	LQ ESPP	  	 	16	 
		
	Article V U.S. QUALIFIED DEFINED CONTRIBUTION PLANS	  	 	17	 
	 Section 5.1.
	 	CPLG 401(k) Plan	  	 	17	 
	 Section 5.2.
	 	Transfer of LQ Savings Plan Assets	  	 	17	 
		
	Article VI U.S. WELFARE PLANS	  	 	17	 
	 Section 6.1.
	 	Establishment of CPLG Welfare Plans	  	 	17	 
	 Section 6.2.
	 	Transitional Matters Under CPLG Welfare Plans and LQ Welfare Plans; Treatment of Claims Incurred and Other Miscellaneous Matters	  	 	18	 
	 Section 6.3.
	 	Continuity of Benefits	  	 	19	 
	 Section 6.4.
	 	Insurance Contracts	  	 	21	 

  
 i 

							
	 Section 6.5.
	 	Third-Party Vendors	  	 	21	 
		
	 Article VII WORKERS’ COMPENSATION AND UNEMPLOYMENT COMPENSATION
	  	 	21	 
	 Section 7.1.
	 	CPLG Workers’ Compensation and Unemployment Compensation	  	 	21	 
	 Section 7.2.
	 	LQ Workers’ Compensation and Unemployment Compensation	  	 	22	 
	 Section 7.3.
	 	Assignment of Contribution Rights	  	 	22	 
	 Section 7.4.
	 	Collateral	  	 	22	 
	 Section 7.5.
	 	Cooperation	  	 	22	 
	 Section 7.6.
	 	ADA Liabilities	  	 	22	 
		
	 Article VIII RETENTION and SEVERANCE
	  	 	23	 
	 Section 8.1.
	 	Establishment of CPLG Retention Plans	  	 	23	 
	 Section 8.2.
	 	Severance Arrangements, Plans, Policies and Guidelines	  	 	23	 
		
	 Article IX GENERAL PROVISIONS
	  	 	24	 
	 Section 9.1.
	 	Preservation of Rights to Amend	  	 	24	 
	 Section 9.2.
	 	Confidentiality	  	 	24	 
	 Section 9.3.
	 	Administrative Complaints/Litigation	  	 	24	 
	 Section 9.4.
	 	Reimbursement and Indemnification	  	 	24	 
	 Section 9.5.
	 	Costs of Compliance with Agreement	  	 	25	 
	 Section 9.6.
	 	Fiduciary Matters	  	 	25	 
	 Section 9.7.
	 	Entire Agreement	  	 	25	 
	 Section 9.8.
	 	Binding Effect; No Third-Party Beneficiaries; Assignment	  	 	25	 
	 Section 9.9.
	 	Amendment; Waivers	  	 	26	 
	 Section 9.10.
	 	Remedies Cumulative	  	 	26	 
	 Section 9.11.
	 	Notices	  	 	26	 
	 Section 9.12.
	 	Counterparts	  	 	27	 
	 Section 9.13.
	 	Severability	  	 	27	 
	 Section 9.14.
	 	Governing Law	  	 	27	 
	 Section 9.15.
	 	Dispute Resolution; Consent to Jurisdiction and Waiver of Jury Trial	  	 	27	 
	 Section 9.16.
	 	Performance	  	 	27	 
	 Section 9.17.
	 	Construction	  	 	28	 
	 Section 9.18.
	 	Effect if Distribution Does Not Occur	  	 	28	 
	 Section 9.19.
	 	Code Sections 162(m) and 409A	  	 	28	 

 Exhibit 
 Exhibit A
                        CPLG Group Employees 

  
 ii 

 EMPLOYEE MATTERS AGREEMENT 

THIS EMPLOYEE MATTERS AGREEMENT, dated as of January 17, 2018, is entered into by and between La Quinta Holdings Inc., a Delaware
corporation (“LQ”), and CorePoint Lodging Inc., a Maryland corporation (“CPLG”). LQ and CPLG are also referred to in this Agreement individually as a “Party” and collectively as the
“Parties.” 
 RECITALS 

WHEREAS, LQ has determined that it would be appropriate, desirable and in the best interests of LQ and the shareholders of LQ to separate the
Separated Real Estate Business from LQ; 
 WHEREAS, LQ and CPLG have entered into the Distribution Agreement, dated as of January 17,
2018 (the “Distribution Agreement”), in connection with the separation of the Separated Real Estate Business from LQ and the Distribution; 

WHEREAS, the Distribution Agreement also provides for the execution and delivery of certain other agreements, including this Agreement, in
order to facilitate and provide for the separation of CPLG and its Subsidiaries from LQ; and 
 WHEREAS, to ensure an orderly transition
under the Distribution Agreement, it will be necessary for the Parties to allocate between them Assets, Liabilities and responsibilities with respect to certain employee compensation and benefit plans and programs, and certain other employment
matters. 
 NOW, THEREFORE, in consideration of the foregoing and the covenants and agreements set forth below and other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, and intending to be legally bound hereby, the Parties hereby agree as follows: 

ARTICLE I 
 DEFINITIONS 

Section 1.1. Definitions. As used in this Agreement, the following terms shall have the meanings set forth in this
Section 1.1. Capitalized terms not otherwise defined herein shall have the meaning ascribed to such terms in the Distribution Agreement. 

“Agreement” means this Employee Matters Agreement, together with all schedules hereto and all amendments, modifications and
changes hereto entered into pursuant to Section 9.9. 
 “Banked PSUs” has the meaning set forth in
Section 4.5(b). 
 “Banked STI Amount” has the meaning set forth in Section 4.8(b). 

“Benefit Management Records” has the meaning set forth in Section 3.3(b). 

 “Benefit Plan” means any “employee benefit plan” (as defined in
Section 3(3) of ERISA) and each other contract, agreement, policy, practice, program, plan, trust, commitment or arrangement providing for benefits, perquisites or compensation of any nature to any Employee, or to any eligible family member,
dependent or beneficiary of any such Employee, including pension plans (qualified and nonqualified), thrift plans, deferred compensation plans (qualified and nonqualified), supplemental pension plans and welfare plans, and contracts, agreements,
policies, practices, programs, plans, trusts, commitments and arrangements providing for terms of employment, fringe benefits, severance benefits, change in control protections or benefits, medical, retiree medical, dental, vision, travel and
accident, life, disability and accident insurance, tuition reimbursement, travel reimbursement, vacation, sick, personal or bereavement days, leaves of absences and holidays. 

“COBRA” means the U.S. Consolidated Omnibus Budget Reconciliation Act of 1985, as codified at Section 601 et seq. of
ERISA and at Section 4980B of the Code. 
 “Completed Period PSUs” has the meaning set forth in Section 4.5(a).

 “CPLG” has the meaning set forth in the preamble to this Agreement. 

“CPLG 401(k) Plan” has the meaning set forth in Section 5.1. 

“CPLG 401(k) Plan Beneficiaries” has the meaning set forth in Section 5.2. 

“CPLG Benefit Plan” means any Benefit Plan sponsored or maintained by any one or more members of the CPLG Group following the
Effective Time. 
 “CPLG Board” has the meaning set forth in Section 4.4. 

“CPLG Director RSU” has the meaning set forth in Section 4.3. 

“CPLG Entity” means any member of the CPLG Group, including any Separated Real Estate Entity. 

“CPLG Equity Plan” means the plan adopted by CPLG prior to the Effective Time under which the CPLG equity-based awards
described in Article IV shall be issued. 
 “CPLG FSA” has the meaning set forth in Section 6.3(a)(i). 

“CPLG Group Employee” means any individual employed by any member of the CPLG Group, including a Separated Real Estate
Entity, immediately following the Effective Time, who is identified as a CPLG Group Employee in accordance with Exhibit A, which may be updated from time to time in accordance with the terms of Exhibit A. In no event shall an LQ Group
Employee be a CPLG Group Employee. 
 “CPLG HSA” has the meaning set forth in Section 6.3(b)(i). 

“CPLG Retention Bonus Plan” has the meaning set forth in Section 8.1. 

  
 2 

 “CPLG Retention Bonus Plan Adoption Date” has the meaning set forth in
Section 8.1. 
 “CPLG RSA” has the meaning set forth in Section 4.2. 

“CPLG Severance Arrangements” has the meaning set forth in Section 8.2. 

“CPLG Short-Term Incentive Plans” has the meaning set forth in Section 4.8(a). 

“CPLG Welfare Plan” means any Welfare Plan sponsored or maintained by any one or more members of the CPLG Group following the
Effective Time. 
 “CPLG Welfare Plan Participants” has the meaning set forth in Section 6.1. 

“Distribution Agreement” has the meaning set forth in the recitals to this Agreement. 

“Distribution Ratio” means such number of shares of CPLG Common Stock for every one (1) outstanding share of LQ Parent
Common Stock as shall have been determined by the Board and set forth in the CPLG Information Statement. 
 “Employee”
means any LQ Group Employee or CPLG Group Employee. 
 “ERISA” means the U.S. Employee Retirement Income Security Act of
1974, as amended, and the regulations promulgated thereunder. 
 “Exchange Act” means the Securities Exchange Act of 1934,
as amended. 
 “FICA” has the meaning set forth in Section 3.1(e). 

“FMLA” means the U.S. Family and Medical Leave Act, as amended, and the regulations promulgated thereunder. 

“FSA Participation Period” has the meaning set forth in Section 6.3(a)(ii). 

“FUTA” has the meaning set forth in Section 3.1(e). 

“HIPAA” means the Health Insurance Portability and Accountability Act of 1996, as amended, and the regulations promulgated
thereunder. 
 “HSA Participation Period” has the meaning set forth in Section 6.3(b)(ii). 

“IRS” means the Internal Revenue Service. 

“La Quinta Holdings Inc. Executive Severance Plan” means the La Quinta Holdings Inc. Executive Severance Plan (effective
January 17, 2017). 
 “La Quinta Holdings Inc. Severance Plan” means the La Quinta Holdings Inc. Severance Plan
(effective January 17, 2017). 
 “LQ” has the meaning set forth in the preamble to this Agreement. 

  
 3 

 “LQ Benefit Plan” means any Benefit Plan sponsored or maintained by any one or
more members of the LQ Parent Group prior to the Effective Time, excluding any such Benefit Plan that becomes a CPLG Benefit Plan. 

“LQ Director” means any individual who is or was previously a non-employee member of the Board. 

“LQ Entity” means any member of the LQ Parent Group. 

“LQ Equity Plan” means the La Quinta Holdings Inc. Amended and Restated 2014 Omnibus Incentive Plan. 

“LQ ESPP” means the La Quinta Holdings Inc. 2015 Employee Stock Purchase Plan. 

“LQ Group Employee” means any individual who is or was previously employed by a member of the LQ Parent Group immediately
prior to the Effective Time, excluding any CPLG Group Employee. 
 “LQ PSU” means a performance share unit granted under
any LQ Equity Plan that is outstanding immediately prior to the Effective Time. 
 “LQ Retention Bonus Plan” means any
retention bonus plan sponsored or maintained by a member of the LQ Parent Group immediately prior to the Effective Time, including the La Quinta Holdings Inc. Retention Bonus Plan (effective January 17, 2017), but excluding any such Benefit
Plan that becomes a CPLG Retention Bonus Plan. 
 “LQ RSAs” means restricted stock awards issued under any LQ Equity Plan
that are outstanding immediately prior to the Effective Time. 
 “LQ RSUs” means restricted share units granted under any
LQ Equity Plan that are outstanding immediately prior to the Effective Time. 
 “LQ Savings Plan” means the LQ 401(k)
Savings Plan. 
 “LQ Welfare Plan” means any Welfare Plan sponsored or maintained by any one or more members of the LQ
Parent Group prior to the Effective Time. 
 “Party” or “Parties” has the meaning set forth in the
preamble to this Agreement. 
 “Privacy Contract” means any contract entered into in connection with applicable privacy
protection Laws or regulations. 
 “PSU” means a performance share unit. 

“Qualified Beneficiary” has the meaning set forth in Treasury Regulation
Section 54.4980B-3, Q&A-1. 
 “Qualifying
Event” has the meaning set forth in Treasury Regulation Section 54.4980B-4, Q&A-1. 

  
 4 

 “Remaining PSUs” has the meaning set forth in Section 4.5(a). 

“U.S.” means the United States of America. 

“WARN” means the U.S. Worker Adjustment and Retraining Notification Act, as amended, and the regulations promulgated
thereunder, and any applicable foreign, state or local Law equivalent. 
 “Welfare Plan” means, where applicable, a
“welfare plan” (as defined in Section 3(1) of ERISA) or a “cafeteria plan” under Section 125 of the Code, and any benefits offered thereunder, and any other plan offering health benefits (including a funding mechanism
for a health savings account, a health care reimbursement account, medical, wellness, prescription drug, dental, vision and mental health and substance abuse coverage), disability benefits, life, accidental death and dismemberment or death benefits,
business travel insurance, medical and dependent care flexible spending arrangements (including any associated group medical or dependent care plan), employee assistance programs and paid time off programs, as applicable. 

Section 1.2. Interpretation. In this Agreement, unless the context clearly indicates otherwise: 

(a) words used in the singular include the plural and words used in the plural include the singular; 

(b) if a word or phrase is defined in this Agreement, its other grammatical forms, as used in this Agreement, shall have a corresponding
meaning; 
 (c) reference to any gender includes the other gender and the neuter; 

(d) the words “include,” “includes” and “including” shall be deemed to be followed by the words “without
limitation”; 
 (e) the words “shall” and “will” are used interchangeably and have the same meaning; 

(f) the word “or” shall have the inclusive meaning represented by the phrase “and/or”; 

(g) relative to the determination of any period of time, “from” means “from and including,” “to” means “to
but excluding” and “through” means “through and including”; 
 (h) all references to a specific time of day in this
Agreement shall be based upon Eastern Standard Time or Eastern Daylight Saving Time, as applicable, on the date in question; 
 (i) whenever
this Agreement refers to a number of days, such number shall refer to calendar days unless Business Days are specified; 

  
 5 

 (j) accounting terms used herein shall have the meanings historically ascribed to them by LQ and
its Subsidiaries, including CPLG for this purpose, in its and their internal accounting and financial policies and procedures in effect immediately prior to the date of this Agreement; 

(k) reference to any Article, Section or schedule means such Article or Section of, or such schedule to, this Agreement, as the case may be,
and references in any Section or definition to any clause means such clause of such Section or definition; 
 (l) the words “this
Agreement,” “herein,” “hereunder,” “hereof,” “hereto” and words of similar import shall be deemed references to this Agreement as a whole and not to any particular Section or other provision of this
Agreement; 
 (m) reference to any agreement, instrument or other document means such agreement, instrument or other document as amended,
supplemented and modified from time to time to the extent permitted by the provisions thereof and not prohibited by this Agreement; 
 (n)
reference to any Law (including statutes and ordinances) means such Law (including any and all rules and regulations promulgated thereunder) as amended, modified, codified or reenacted, in whole or in part, and in effect at the time of determining
compliance or applicability; 
 (o) references to any Person include such Person’s successors and assigns but, if applicable, only if
such successors and assigns are permitted by this Agreement; a reference to such Person’s “Affiliates” shall be deemed to mean such Person’s Affiliates following the Distribution and any reference to a third party shall be deemed
to mean a Person who is not a Party or an Affiliate of a Party; 
 (p) if there is any conflict between the provisions of the main body of
this Agreement and the schedules hereto, the provisions of the main body of this Agreement shall control unless explicitly stated otherwise in such schedule; 

(q) unless otherwise specified in this Agreement, all references to dollar amounts herein shall be in respect of lawful currency of the U.S.;

 (r) the titles to Articles and headings of Sections contained in this Agreement, in any schedule and Exhibit and in the table of contents
to this Agreement have been inserted for convenience of reference only and shall not be deemed to be a part of or to affect the meaning or interpretation of this Agreement; and 

(s) any portion of this Agreement obligating a Party to take any action or refrain from taking any action, as the case may be, shall mean that
such Party shall also be obligated to cause its relevant Subsidiaries to take such action or refrain from taking such action, as the case may be. 

  
 6 

 ARTICLE II 

GENERAL PRINCIPLES FOR ALLOCATION OF LIABILITIES 

Section 2.1. Allocation of Liabilities. 

(a) General Principles. LQ and CPLG agree that all employment-related Liabilities associated with (i) (A) LQ Group Employees,
whether arising on, or in respect of periods prior to or after the Effective Time, and (B) CPLG Group Employees, to the extent arising on, or in respect of periods prior to, the Effective Time, in each case, are to remain at LQ, and
(ii) CPLG Group Employees, to the extent arising or in respect of periods after, the Effective Time, be allocated to CPLG, in each case, except as otherwise specifically set forth herein. 

(b) CPLG Group Liabilities. Except as otherwise provided in this Agreement, effective as of the Effective Time, one or more members of
the CPLG Group (as determined by CPLG) shall assume, or continue the sponsorship of, and no member of the LQ Parent Group shall have any further Liability with respect to, or under, and CPLG shall indemnify each member of the LQ Parent Group, and
the officers, directors and employees of each member of the LQ Parent Group, and hold them harmless with respect to any and all: 

(i) individual agreements entered into between any member of the LQ Parent Group (or any joint venture with any member of the
LQ Parent Group) and any CPLG Group Employee; 
 (ii) wages, salaries, incentive compensation (as the same may be modified by
this Agreement), commissions, bonuses, severance (including as a result of the Distribution) and any other employee compensation or benefits payable to or on behalf of any CPLG Group Employees after the Effective Time, with respect to such wages,
salaries, incentive compensation, commissions, bonuses or other employee compensation or benefits that are or may have been earned at or after the Effective Time; 

(iii) moving expenses and obligations, including those related to taxes (foreign and home), relocation, repatriation,
international assignments, transfers or similar items incurred by or owed to any CPLG Group Employees but only to the extent such items are incurred after the Effective Time; 

(iv) immigration-related, visa, work application or similar rights, obligations and Liabilities related to any CPLG Group
Employees; and 
 (v) Liabilities under any CPLG Benefit Plan. 

(c) LQ Parent Group Liabilities. Except as otherwise provided in this Agreement, effective as of the Effective Time, no member of the
CPLG Group shall have any further Liability for, and LQ shall indemnify each member of the CPLG Group, and the officers, directors and employees of each member of the CPLG Group, and hold them harmless with respect to any and all Liabilities and
obligations whatsoever with respect to, or arising from, any employment-related Liability not (i) described in Section 2.1(b) or (ii) allocated to the CPLG Group pursuant to Section 2.1(a). 

(d) Employee Accruals. Nothing in this Agreement (including this Article II) will override or alter the allocation to the CPLG
Group of any Liabilities included in Section 1.1(86)(xi) of the Distribution Agreement. 

  
 7 

 Section 2.2. Service Credit. 

(a) Service for Eligibility, Vesting and Benefit Purposes. Except as otherwise provided in any other provision of this Agreement,
the CPLG Benefit Plans shall, and CPLG shall cause each member of the CPLG Group to, recognize each CPLG Group Employee’s full service history with the LQ Parent Group for purposes of eligibility, vesting, determination of level of benefits
and, to the extent applicable and subject to Section 2.5, benefit accruals under any CPLG Benefit Plan for such CPLG Group Employee’s service with any member of the LQ Parent Group on or prior to the Effective Time to the same extent such
service would be credited under the LQ Benefit Plans, as applicable. Notwithstanding anything to the contrary, in connection with any Employee’s break in service, any determination as to service credit shall be made under and in accordance with
the applicable CPLG Benefit Plan document, the terms of which shall control in the case of any conflict with this Section 2.2. 
 (b)
Evidence of Prior Service. Notwithstanding anything to the contrary, but subject to applicable Law, upon reasonable request by one Party to the other Party, the first Party will provide to the other Party copies of any records reasonably
available to the first Party to document such service, plan participation and membership of such Employees and reasonably cooperate with the first Party to resolve any discrepancies or obtain any missing data for purposes of determining benefit
eligibility, participation, vesting and calculation of benefits with respect to any Employee. 
 Section 2.3. Plan
Participation. Each member of the LQ Parent Group and each member of the CPLG Group shall take any and all reasonable action as shall be necessary or appropriate so that active participation in the LQ Benefit Plans by all CPLG Group Employees
shall terminate in connection with the Distribution as and when provided under this Agreement (or if not specifically provided under this Agreement, as of the Effective Time). 

Section 2.4. Plan Administration. 

(a) Transition Services. The Parties acknowledge that the LQ Parent Group or the CPLG Group may provide administrative services for
certain of the other Party’s benefit programs for a transitional period under the terms of the Transition Services Agreement. The Parties agree to enter into a business associate agreement (to the extent required by HIPAA or other applicable
health information privacy Laws) in connection with such Transition Services Agreement. 
 (b) Participant Elections and Beneficiary
Designations. Prior to the Effective Time, each participant in a CPLG Benefit Plan shall execute such elections and beneficiary designations as are promulgated by the administrator of each CPLG Benefit Plan. Notwithstanding the foregoing, if and
to the extent a CPLG Benefit Plan participant has failed to execute and file an updated election and/or designation, the participant elections and beneficiary designations made under any corresponding LQ Benefit Plan prior to the Effective Time with
respect to which Assets or Liabilities are transferred or allocated to CPLG Benefit Plans in accordance with this Agreement shall continue in effect under the applicable CPLG Benefit Plan to the extent permitted under the applicable CPLG Benefit
Plan, including deferral and payment form elections, dividend elections, coverage options and levels, beneficiary designations and the rights of alternate payees under qualified domestic relations orders, in each case, to the extent allowed by
applicable Law. 

  
 8 

 Section 2.5. No Duplication or Acceleration of Benefits. Notwithstanding anything to
the contrary in this Agreement or the Distribution Agreement or otherwise, no participant in the CPLG Benefit Plans shall receive benefits that duplicate benefits provided by the corresponding LQ Benefit Plan. Furthermore, unless expressly provided
for in this Agreement, the Distribution Agreement or required by applicable Law, no provision in this Agreement shall be construed to create any right to accelerate vesting, distribution of benefits or entitlements to any compensation or Benefit
Plan on the part of any LQ Group Employee or CPLG Group Employee. 
 Section 2.6. No Expansion of Participation. Unless
otherwise expressly provided in this Agreement, as otherwise determined or agreed to by LQ and CPLG, as required by applicable Law or as explicitly set forth in a CPLG Benefit Plan, a CPLG Group Employee shall be entitled to participate in the CPLG
Benefit Plans only to the extent that such Employee was entitled to participate in the corresponding LQ Benefit Plan as in effect immediately prior to the Effective Time, with it being the intent of the Parties that this Agreement does not result in
any expansion of the number of CPLG Group Employees participating or the participation rights therein that they had prior to the Effective Time. 

ARTICLE III 
 ASSIGNMENT OF
EMPLOYEES 
 Section 3.1. Active Employees. 

(a) CPLG Group Employees. Effective not later than immediately preceding the Effective Time, the employment of each CPLG Group Employee
shall be continued by a member of the CPLG Group or shall be assigned and transferred to a member of the CPLG Group (in each case, with such member as determined by CPLG). 

(b) At-Will Status. Notwithstanding the above or any other provision of this Agreement, nothing in this Agreement shall create
any obligation on the part of any member of the LQ Parent Group or any member of the CPLG Group to (i) continue the employment of any Employee or permit the return from a leave of absence for any period following the date of this Agreement or
the Effective Time (except as required by applicable Law) or (ii) change the employment status of any Employee from “at-will,” to the extent such Employee is an
“at-will” employee under applicable Law. 
 (c) Severance. The Parties acknowledge
and agree that the Distribution and the assignment, transfer or continuation of the employment of Employees as contemplated by this Section 3.1 shall not be deemed a severance of employment of any Employee for purposes of this Agreement or any
Benefit Plan of any member of the LQ Parent Group (including the LQ Retention Bonus Plan, La Quinta Holdings Inc. Severance Plan or La Quinta Holdings Inc. Executive Severance Plan), or any member of the CPLG Group (including the CPLG Retention
Bonus Plan and the CPLG Severance Arrangements). 

  
 9 

 (d) Not a Change of Control/Change in Control. The Parties acknowledge and agree
that the consummation of the Distribution itself shall not be deemed a “change in control,” or term of similar import for purposes of any LQ Benefit Plan (including the LQ Retention Bonus Plan, La Quinta Holdings Inc. Executive Severance
Plan and the La Quinta Holdings Inc. Severance Plan), CPLG Benefit Plan (including the CPLG Retention Bonus Plan or CPLG Severance Arrangements), LQ Equity Plan or CPLG Equity Plan. 

(e) Payroll and Related Taxes. With respect to each CPLG Group Employee, LQ and CPLG shall, and shall cause their respective Affiliates
to (to the extent permitted by applicable Law and practicable) (i) treat CPLG (or the applicable CPLG Entity) as a “successor employer” and LQ (or the applicable LQ Entity) as a “predecessor,” within the meaning of Sections
3121(a)(1) and 3306(b)(1) of the Code, to the extent appropriate, for purposes of Taxes imposed under the United States Federal Insurance Contributions Act, as amended (“FICA”), or the United States Federal Unemployment Tax Act, as
amended (“FUTA”) and (ii) file tax returns, exchange wage payment information and report wage payments made by the respective predecessor and successor employer on separate IRS Forms W-2
or similar earnings statements to each such CPLG Group Employee for the tax year in which the Effective Time occurs, in a manner provided in Section 4.02(l) of Revenue Procedure 2004-53. For the avoidance
of doubt, the collection of payroll taxes under FICA and FUTA will not restart upon or following the Effective Time with respect to each CPLG Group Employee for the tax year during which the Effective Time occurs. 

(f) Employment and Severance Arrangements. CPLG will assume and honor, or will cause a CPLG Entity to assume and honor any agreements to
which any CPLG Group Employee is party with either any LQ Entity or any joint venture with an LQ Entity, including any (i) employment contract or (ii) retention or severance arrangement. 

Section 3.2. Employment Law Obligations. 

(a) WARN. After the Effective Time, (i) LQ shall be responsible for providing any necessary WARN notice (and meeting any similar
state Law notice requirements) with respect to any termination of employment of any LQ Group Employee and (ii) CPLG shall be responsible for providing any necessary WARN notice (and meeting any similar state Law notice requirements) with
respect to any termination of employment of any CPLG Group Employee. 
 (b) Compliance with Employment Laws. On and after the
Effective Time, (i) each member of the LQ Parent Group shall be responsible for adopting and maintaining any policies or practices, and for all other actions and inactions, necessary to comply with employment-related Laws and requirements
relating to the employment of LQ Group Employees and (ii) each member of the CPLG Group shall be responsible for adopting and maintaining any policies or practices, and for all other actions and inactions, necessary to comply with
employment-related Laws and requirements relating to the employment of CPLG Group Employees. 

  
 10 

 Section 3.3. Employee Records. 

(a) Sharing of Information. Subject to any limitations imposed by applicable Law, LQ and CPLG (acting directly or through members of the
LQ Parent Group or the CPLG Group, respectively) shall provide to the other and their respective agents and vendors all information necessary for the Parties to perform their respective duties under this Agreement. The Parties also hereby agree to
enter into any business associate arrangements that may be required for the sharing of any information pursuant to this Agreement to comply with the requirements of HIPAA. 

(b) Transfer of Personnel Records and Authorization. Subject to any limitation imposed by applicable Law and required consents, as of
the Effective Time or as soon as administratively practicable thereafter, LQ shall transfer and assign to CPLG all personnel records, all immigration documents, including I-9 forms and work authorizations, all
payroll deduction authorizations and elections, whether voluntary or mandated by Law, including but not limited to W-4 forms and deductions for benefits under the applicable CPLG Benefit Plan and all absence
management records, insurance beneficiary designations, flexible spending account enrollment confirmations, attendance and return to work information relating to CPLG Group Employees who participate in CPLG Benefit Plans (collectively, the
“Benefit Management Records”). Subject to any limitations imposed by applicable Law, LQ, however, may retain originals of, copies of or access to personnel records, immigration records, payroll forms and Benefit Management Records
as long as necessary to provide services to CPLG (acting on its behalf pursuant to the Transition Services Agreement between the Parties entered into as of the date of this Agreement). Immigration records will, if and as appropriate, become a part
of CPLG’s public access file. CPLG will use personnel records, payroll forms and Benefit Management Records for lawful purposes only, including calculation of withholdings from wages and personnel management. It is understood that following the
Effective Time, LQ records so transferred and assigned may be maintained by CPLG (acting directly or through one of its Subsidiaries) pursuant to CPLG’s applicable records retention policy. 

(c) Access to Records. To the extent not inconsistent with this Agreement and any applicable Laws or regulations or
Privacy Contracts, reasonable access to Employee-related records after the Effective Time will be provided to members of the LQ Parent Group and members of the CPLG Group pursuant to the terms and conditions of Sections 5.2 and 7.3 of the
Distribution Agreement. In addition, notwithstanding anything to the contrary, CPLG shall provide LQ with reasonable access to those records necessary for its administration of any Benefit Plans or programs, or employment and compensation matters,
on behalf of LQ Group Employees after the Effective Time as permitted by all applicable Laws or regulations or Privacy Contracts. LQ shall also be permitted to retain copies of all restrictive covenant agreements with any CPLG Group Employee in
which any member of the LQ Parent Group has a valid business interest. In addition, LQ shall provide CPLG with reasonable access to those records necessary for its administration of any Benefit Plans or programs, or employment and compensation
matters, on behalf of CPLG Group Employees after the Effective Time as permitted by all applicable Laws or regulations or Privacy Contracts. CPLG shall also be permitted to retain copies of all restrictive covenant agreements with any LQ Group
Employee in which any member of the CPLG Group has a valid business interest. 

  
 11 

 (d) Maintenance of Records. With respect to retaining, destroying, transferring, sharing,
copying and permitting access to all Employee-related information, LQ and CPLG shall comply with all applicable Laws, regulations and internal policies, and shall indemnify and hold harmless each other from and against any and all Liability, claims,
actions and damages that arise from a failure (by the indemnifying party or its Subsidiaries or their respective agents) to so comply with all applicable Laws, regulations, Privacy Contracts and internal policies applicable to such information. 

(e) Confidentiality. Except as otherwise set forth in this Agreement, all records and data relating to Employees shall, in each case, be
subject to the confidentiality provisions of the Distribution Agreement and any other applicable agreement and applicable Law, and the provisions of this Section 3.3 shall be in addition to, and not in derogation of, the provisions of the
Distribution Agreement governing confidential information, including Section 7.6 of the Distribution Agreement. 
 (f)
Cooperation. Each Party shall use commercially reasonable efforts to cooperate in sharing, retaining and maintaining data and records that are necessary or appropriate to further the purposes of this Section 3.3 and for each Party to
administer its respective Benefit Plans to the extent consistent with this Agreement and applicable Law, and each Party agrees to cooperate as long as is reasonably necessary to further the purposes of this Section 3.3. No Party shall charge
another Party a fee for such cooperation. 
 ARTICLE IV 

EQUITY AND EQUITY-BASED COMPENSATION 

Section 4.1. General Principles. 

(a) LQ and CPLG shall take any and all reasonable actions as shall be necessary and appropriate to further the provisions of this
Article IV, including, to the extent practicable, providing written notice or similar communication to each Employee or director who holds one or more awards granted under any LQ Equity Plan informing such Employee or director, as applicable,
of (i) the actions contemplated by this Article IV with respect to such awards and (ii) whether (and during what time period) any “blackout” period shall be imposed upon holders of awards granted under any LQ Equity Plan
during which time awards may not be exercised or settled, as the case may be. 
 (b) Following the Effective Time, a grantee who has
outstanding equity-based awards under one or more of the LQ Equity Plans and/or replacement equity-based awards under the CPLG Equity Plan shall be considered to have been employed by the LQ Parent Group or CPLG Group, as applicable, before the
Effective Time, and to the extent such grantee continues to be employed by either the LQ Parent Group or CPLG Group following the Effective Time, after the Effective Time, for purposes of (i) vesting and (ii) determining the date of
termination of employment as it applies to any such award. Neither the transfer of employment to the CPLG Group nor the Distribution shall constitute a “Termination” under any LQ Equity Plan. 

(c) No award described in this Article IV, whether outstanding or to be issued, adjusted, substituted or cancelled by reason of or in
connection with the Distribution, shall be adjusted, settled, cancelled or exercisable, until in the judgment of the administrator of the applicable plan or program such action is consistent with all applicable Laws, including federal securities
Laws. With respect to each outstanding stock option, the period during which such option is exercisable and the ultimate expiration date of the option will not be extended. 

  
 12 

 (d) The adjustment or conversion of LQ RSUs shall be effected in a manner that is intended to
avoid the imposition of any accelerated, additional, penalty or other Taxes on the holders thereof pursuant to Section 409A of the Code. 

Section 4.2. Treatment of LQ RSAs Held by LQ Group Employees and CPLG Group Employees. At the Effective Time,
each LQ RSA held by an LQ Group Employee or a CPLG Group Employee shall receive a number of restricted shares of CPLG Common Stock (each, a “CPLG RSA”) calculated by multiplying (i) the number of LQ RSAs subject to each grant
by (ii) the Distribution Ratio, rounded up to the nearest whole share. Subject to Section 4.1, the CPLG RSAs shall be subject to the same terms and conditions from and after the Effective Time as the terms and conditions applicable to the
corresponding LQ RSAs immediately prior to the Effective Time. 
 Section 4.3. Treatment of LQ RSUs Held by LQ
Directors(i) . At the Effective Time, each LQ RSU held by an LQ Director shall receive a right to receive a number of restricted shares units of CPLG Common Stock (each, a “CPLG Director RSU”) calculated by multiplying
(i) the number of LQ RSUs subject to each grant by (ii) the Distribution Ratio, rounded up to the nearest whole share. Subject to Section 4.1, the CPLG Director RSUs shall be subject to the same terms and conditions from and after the
Effective Time as the terms and conditions applicable to the corresponding LQ RSUs immediately prior to the Effective Time. 

Section 4.4. Section 16(b) of the Exchange Act. By approving the adoption of this Agreement, each of the Board
and the Board of Directors of CPLG (the “CPLG Board”) intend to exempt from the short-swing profit recovery provisions of Section 16(b) of the Exchange Act, by reason of the application of Rule
16b-3 thereunder, all acquisitions and dispositions of equity incentive awards by directors and officers of each of LQ and CPLG, and each of the Board and the CPLG Board also intend expressly to approve, in
respect of any equity-based award, the use of any method for the satisfaction of any applicable Tax withholding to the extent such method is permitted under the applicable LQ Equity Plan, CPLG Equity Plan and any award agreement. 

Section 4.5. Treatment of LQ PSUs. 

(a) Termination of LQ PSUs. Immediately prior to the Effective Time, each ongoing Performance Period (as such term is defined in the
applicable LQ PSU grant notice) relating to outstanding LQ PSUs granted under the LQ Equity Plan shall be terminated, and the LQ PSUs shall be bifurcated into (i) a number of LQ PSUs (expressed as a dollar value) calculated by multiplying
(A) the target number of LQ PSUs (expressed as a dollar value) granted to the applicable LQ Group Employee by (B) a fraction, the numerator of which equals the number of completed fiscal quarters between the commencement of the Performance
Period applicable to such LQ PSUs and the Distribution, and the denominator of which equals the number of fiscal quarters in the Performance Period applicable to such LQ PSUs (the “Completed Period PSUs”), and (ii) a number of
LQ PSUs (expressed as a dollar value) equal to the original target number of PSUs awarded (expressed as a dollar value), less the number of corresponding Completed Period PSUs (expressed as a dollar value) (the “Remaining PSUs”).

  
 13 

 (b) Calculation of LQ PSUs Earned as of the Effective Time. Immediately prior to the
Effective Time, (i) with respect to the Completed Period PSUs, a number of such Completed Period PSUs (expressed as a dollar value) shall be deemed earned, based on the greater of (x) the level of achievement of applicable measures based
on actual performance through the last completed fiscal quarter ending on or before the Distribution Date, as determined by the compensation committee of the Board (or committee thereof, as applicable), in its sole discretion, and
(y) satisfaction of the applicable criteria at target levels; and (ii) with respect to the Remaining PSUs, a number of such Remaining PSUs (expressed as a dollar value) shall be deemed earned based on satisfaction of the applicable
criteria at target levels, and such earned Completed Period PSUs and Remaining PSUs (in each case, expressed as a dollar value, and collectively, the “Banked PSUs”) shall no longer be subject to vesting based upon the achievement of
performance criteria, but instead such Banked PSUs shall vest, subject to the holder’s continued employment through the vesting date, as of the end of the original Performance Period to which such Banked PSUs relate. Any Completed Period PSUs
or Remaining PSUs that are not earned as of the Effective Time in accordance with this subsection (b) because the applicable performance targets have not been achieved or satisfied shall be forfeited without consideration therefor as of the
Effective Time. 
 (c) Conversion of LQ PSUs. As of immediately prior to the Effective Time, each Banked PSU shall, by virtue of the
Distribution and without further action by either LQ, CPLG or any holder of a Banked PSU, convert into a number of LQ RSAs equal to (i) the dollar value of such Banked PSU, divided by (ii) the Beginning Share Price (as such term is defined
in the applicable LQ PSU grant notice) applicable to such Banked PSU, which LQ RSAs shall be subject to the same vesting terms as the Banked PSU to which such LQ RSAs relate. Such LQ RSAs shall thereafter be treated as set forth in Section 4.2
above. 
 Section 4.6. LQ Group Employee’s Treatment of CPLG Awards Upon Certain Terminations.
Notwithstanding the terms of the CPLG Equity Plan to the contrary, in the event of any “Covered Termination” (as defined in the La Quinta Holdings Inc. Executive Severance Plan or the La Quinta Holdings Inc. Severance Plan, as applicable)
of an LQ Group Employee on or following the Effective Time, all outstanding CPLG RSAs then held by such LQ Group Employee shall fully vest as of the date of such Covered Termination. 

Section 4.7. Liabilities for Settlement of Awards. 

(a) Settlement of LQ RSAs, LQ RSUs and LQ PSUs. LQ shall be responsible for all Liabilities associated with LQ
RSAs, LQ RSUs and LQ PSUs, including any share delivery, registration or other obligations related to the settlement of the LQ RSAs, LQ RSUs and LQ PSUs. 

(b) Settlement of CPLG RSAs and CPLG Director RSUs. CPLG shall be responsible for all Liabilities associated with CPLG RSAs and
CPLG Director RSUs, including any share delivery, registration or other obligations related to the settlement of the CPLG RSAs and CPLG Director RSUs. 

  
 14 

 Section 4.8. Short-Term Incentive Payments for CPLG Group Employees. 

(a) CPLG Short-Term Incentive Plans. No later than the Effective Time, CPLG shall, or shall cause another CPLG Entity to, adopt
plans that will provide annual bonus or short-term cash incentive compensation opportunities for CPLG Group Employees transferred from the LQ Parent Group to the CPLG Group (the “CPLG Short-Term Incentive Plans”), subject to
CPLG’s right to amend such plans after the Effective Time in accordance with the terms thereof. The CPLG Short-Term Incentive Plans shall be approved prior to the Effective Time by the sole stockholder of CPLG, and CPLG Group Employees shall
participate in such CPLG Short-Term Incentive Plans immediately following the Effective Time; provided, however, that the CPLG Short-Term Incentive Plans shall not provide for annual bonus or short-term cash incentive opportunities
relating to performance for the portion of the fiscal year prior to the Effective Time. 
 (b) LQ Corporate Bonus Plan. Immediately
prior to the Effective Time, the applicable administrator under the La Quinta Holdings Inc. Corporate Short Term Incentive Plan (effective January 1, 2017) shall calculate a deemed earned bonus amount with respect to each LQ Group Employee and
CPLG Group Employee participating in such plan, assuming each ongoing performance period ended as of the Effective Time and such bonuses are calculated on a prorated basis based on the portion of each performance period that has elapsed prior to the
Effective Time as compared to the applicable quantitative and qualitative measures during such performance period (the amount so calculated as to any LQ Group Employee or CPLG Group Employee, as applicable, being the “Banked STI
Amount”). With respect to each LQ Group Employee and CPLG Group Employee, such Banked STI Amount shall be paid by the applicable LQ Entity to such LQ Group Employee or CPLG Group Employee, as applicable, no later than the regular payroll
date of the applicable LQ Entity occurring immediately after the Effective Time. 
 (c) Other LQ Bonus Plans. Following the Effective
Time, LQ shall, or shall cause the applicable LQ Entity to, continue to maintain plans that will provide annual bonus or short-term cash incentive compensation opportunities for LQ Group Employees, subject to LQ’s right to amend such plans
after the Effective Time in accordance with the terms thereof; provided, however, to the extent determined appropriate by the applicable administrator of any such plan after the Effective Time, the applicable performance targets shall
be replaced with new performance targets for the remainder of such annual bonus or short-term cash incentive compensation plan’s remaining performance period following the Effective Time. 

(d) Allocation of Bonus Responsibility. For the avoidance of doubt, (i) the CPLG Group shall be solely responsible for funding,
paying and discharging all obligations relating to any annual cash incentive awards that any CPLG Group Employee is eligible to receive under any CPLG Group annual bonus and other short-term cash incentive compensation plans with respect to payments
made beginning at or after the Effective Time, including the CPLG Short-Term Incentive Plan, but excluding any Banked STI Amounts payable to any CPLG Group Employee in accordance with Section 4.8(b) above, and no member of the LQ Parent Group
shall have any obligations with respect thereto, and (ii) the LQ Parent Group shall be solely responsible for funding, paying and discharging all obligations relating to (x) any annual cash incentive awards that any LQ Group Employee is
eligible to receive under any LQ Parent 

  
 15 

 
Group annual bonus and other short-term cash incentive compensation plans with respect to payments made beginning at or after the Effective Time and (y) any Banked STI Amount payable to any
CPLG Group Employee in accordance with Section 4.8(b) above, and no member of the CPLG Group shall have any obligations with respect thereto. 

Section 4.9. Form S-8. CPLG shall prepare and file with the SEC a registration
statement on Form S-8 (or another appropriate form) registering under the Exchange Act the offering of a number of CPLG Common Stock at a minimum equal to the number of shares subject to the CPLG RSAs and CPLG
Director RSUs. CPLG shall use commercially reasonable efforts to cause any such registration statement to be kept effective (and the current status of the prospectus or prospectuses required thereby to be maintained) as long as any CPLG RSAs or CPLG
Director RSUs remain outstanding. 
 Section 4.10. Tax Reporting and Withholding for Equity-Based Awards. Unless otherwise
required by applicable Law, LQ (or one of its Subsidiaries) will be responsible for all income, payroll, fringe benefit, social, payment on account or other tax reporting related to income of or otherwise owed by LQ Group Employees from equity-based
awards, and CPLG (or one of its Subsidiaries) will be responsible for all income, payroll, fringe benefit, social, payment on account or other tax reporting related to or otherwise owed on income of CPLG Group Employees from equity-based awards.
Further, LQ (or one of its Subsidiaries) shall be responsible for remitting applicable tax withholdings and related payments for LQ Group Employees to each applicable taxing authority, and CPLG (or one of its Subsidiaries) shall be responsible for
remitting applicable tax withholdings and related payments for CPLG Group Employees to each applicable taxing authority; provided, however, that to the extent necessary (and permissible) to effectuate the foregoing, either LQ or CPLG
may act as agent for the other company by remitting amounts withheld in the form of shares or in conjunction with an exercise transaction and related payments to an appropriate taxing authority. For non-employee directors of LQ or CPLG, all
compensation income realized from either LQ equity-based awards or CPLG equity-based awards will be reflected by an IRS Form 1099 provided to such non-employee director by LQ or CPLG, as applicable, for each year. There will be no tax withholding
made by either LQ or CPLG with respect to any equity-based awards for non-employee directors of LQ or CPLG. 
 Section 4.11.
Cooperation. Each Party acknowledges and agrees to use commercially reasonable efforts to cooperate with each other and with third-party providers to effect withholding and remittance of Taxes, as well as required tax reporting, in a timely,
efficient and appropriate manner to further the purposes of this Article IV and to administer all employee equity awards that are outstanding immediately following the Effective Time (including all such equity awards that are adjusted in
accordance with this Article IV) to the extent consistent with this Agreement and applicable Law, for as long as is reasonably necessary to further the purposes of this Article IV. No Party shall charge another Party a fee for such
cooperation. 
 Section 4.12. LQ ESPP. All CPLG Group Employees shall cease active participation in the LQ ESPP with respect to
offering periods ending after the Effective Time. For the avoidance of doubt, the CPLG Group Employees who participated in the LQ ESPP prior to the Effective Time shall continue to participate in any offering periods under the LQ ESPP ending prior
to the Effective Time. 

  
 16 

 ARTICLE V 

U.S. QUALIFIED DEFINED CONTRIBUTION PLANS 

Section 5.1. CPLG 401(k) Plan. No later than the Effective Time, CPLG shall, or shall cause a CPLG Entity to, establish a defined
contribution plan and related trust that is intended to meet the requirements of Sections 401(a) and 401(k) of the Code and a related trust that is intended to meet the requirements of Section 501(a) of the Code for the benefit of CPLG Group
Employees (such defined contribution plan, the “CPLG 401(k) Plan”). CPLG shall, or shall cause a CPLG Entity to, be responsible for taking all necessary, reasonable and appropriate actions to establish, maintain and administer the
CPLG 401(k) Plan so that it is qualified under Section 401(a) of the Code, that it satisfies the requirements of Section 401(k) of the Code, and that the related trust remains tax-exempt under
Section 501(a) of the Code and as soon as reasonably practicable following the Effective Time, CPLG shall, or shall cause a CPLG Entity to take all steps reasonably necessary to obtain a favorable determination letter from the IRS as to such
qualification. CPLG shall or shall cause a CPLG Entity to be responsible for any and all Liabilities and other obligations with respect to the CPLG 401(k) Plan. 

Section 5.2. Transfer of LQ Savings Plan Assets. As soon as practicable following the adoption of the CPLG 401(k) Plan, LQ shall
cause the accounts (including any outstanding loan balances) in the LQ Savings Plan attributable to the CPLG Group Employees who will participate in the CPLG 401(k) Plan (collectively, the “CPLG 401(k) Plan Beneficiaries”) and all
of the assets in the LQ Savings Plan related thereto to be transferred to the CPLG 401(k) Plan, and CPLG shall cause the CPLG 401(k) Plan to accept such transfer of accounts and underlying assets and, effective as of the date of such transfer, to
assume and to fully perform, pay and discharge, all obligations of the LQ Savings Plan relating to the accounts of the CPLG 401(k) Plan Beneficiaries (to the extent the assets related to those accounts are actually transferred from the LQ Savings
Plan to the CPLG 401(k) Plan) as of the Effective Time. The transfer of assets invested in the LQ Savings Plan shall be conducted in accordance with Section 414(l) of the Code, Treasury Regulation
Section 1.414(1)-1 and Section 208 of ERISA. In connection with the trust-to-trust transfer described in this
Section 5.2, the Parties agree to cooperate in making any and all appropriate filings required under applicable Law, and to take all such action(s) as may be necessary or appropriate to cause such plan-to-plan transfer to take place as soon as practicable following the adoption of the CPLG 401(k) Plan. 

ARTICLE VI 
 U.S. WELFARE
PLANS 
 Section 6.1. Establishment of CPLG Welfare Plans. On or prior to the Effective Time, CPLG shall, or shall cause
another CPLG Entity to, establish and adopt CPLG Welfare Plans which will provide welfare benefits to each CPLG Group Employee who is a participant in any LQ Welfare Plan (and their eligible spouses, domestic partners and dependents, as the case may
be) (collectively, the “CPLG Welfare Plan Participants”) under terms and conditions that are substantially comparable to the LQ Welfare Plans. Coverage and benefits under the CPLG Welfare Plans shall then be provided to the CPLG
Welfare Plan 

  
 17 

 
Participants on an uninterrupted basis under the newly established CPLG Welfare Plans which shall contain substantially comparable benefit provisions as in effect under the corresponding LQ
Welfare Plans immediately prior to the Effective Time. CPLG Welfare Plan Participants shall cease to be eligible for coverage under the LQ Welfare Plans following the establishment and adoption of the CPLG Welfare Plans in accordance with this
Section 6.1. For the avoidance of doubt, CPLG Group Employees, including CPLG Welfare Plan Participants, shall not participate in any LQ Welfare Plans after the Effective Time, and LQ Group Employees shall not participate in any CPLG Welfare
Plans at any time. 
 Section 6.2. Transitional Matters Under CPLG Welfare Plans and LQ Welfare Plans;
Treatment of Claims Incurred and Other Miscellaneous Matters. 
 (a) Liability for Claims Incurred Under LQ Welfare
Plans. The applicable LQ Welfare Plans shall remain responsible for the adjudication and/or payment of unpaid covered claims that any CPLG Welfare Plan Participant incurs under any of the LQ Welfare Plans before the Effective Time. LQ shall
cause such LQ Welfare Plans to fully perform, pay and discharge all such claims. Claims for ongoing care for a CPLG Welfare Plan Participant under any of the LQ Welfare Plans shall be allocated as follows: 

(i) The applicable LQ Welfare Plan shall be liable for the portion of ongoing outpatient care that is provided before the
Effective Time, and the applicable CPLG Welfare Plan shall be responsible for the portion of ongoing outpatient care that is provided after the Effective Time. 

(ii) The applicable LQ Welfare Plan shall be liable for ongoing inpatient care (such as continuous hospitalization) that is
provided before the Effective Time, and the applicable CPLG Welfare Plan shall be responsible for the portion of ongoing inpatient care that is provided after the Effective Time. 

(iii) For purposes of this Section 6.2(a), a claim or expense is deemed to be incurred (A) with respect to medical
(including continuous hospitalization), dental, vision and/or prescription drug benefits, upon the rendering of health services giving rise to such claim or expense; (B) with respect to life insurance, accidental death and dismemberment and
business travel accident insurance, upon the occurrence of the event giving rise to such claim or expense and (C) with respect to long-term disability benefits, upon the date of an individual’s disability, as determined by the disability
benefit insurance carrier or claims administrator, giving rise to such claim or expense. 
 (b) Credit for Deductibles and Other
Limits. With respect to each CPLG Welfare Plan Participant, CPLG shall use reasonable efforts to provide that for purposes of any maximum benefit payable under any of the CPLG Welfare Plans, the CPLG Welfare Plans will recognize any expenses
paid or reimbursed by the LQ Welfare Plans with respect to such participant before the Effective Time, to the same extent such expense payments or reimbursements would be recognized in respect of an active plan participant under any of the
applicable LQ Welfare Plans. 

  
 18 

 (c) COBRA. 

(i) LQ shall be responsible for complying with the group health coverage continuation requirements of COBRA for Qualifying
Events occurring before the Effective Time affecting a CPLG Welfare Plan Participant or his or her Qualified Beneficiaries with respect to each CPLG Welfare Plan Participant who becomes a Qualified Beneficiary before the Effective Time. 

(ii) CPLG shall be responsible for complying with the group health coverage continuation requirements of COBRA for Qualifying
Events occurring on or after the Effective Time affecting a CPLG Welfare Plan Participant or his or her Qualified Beneficiaries with respect to each CPLG Welfare Plan Participant who becomes a Qualified Beneficiary on or after the Effective Time.

 (iii) For the avoidance of doubt, LQ and CPLG shall cause such LQ Welfare Plans or CPLG Welfare Plans, as the case may be,
to fully perform, pay and discharge all such claims for any CPLG Welfare Plan Participants as set forth under subsections (i) through (ii) of this subsection (c) for the duration of COBRA continuation coverage, as determined pursuant to
Treasury Regulation Section 4980B-7, so that the CPLG Welfare Plans shall not be liable for the payment of claims incurred under the LQ Welfare Plans pursuant to subsection (i) of this subsection
(c) and the LQ Welfare Plans shall not be liable for the payment of claims incurred under the CPLG Welfare Plans for claims incurred pursuant to subsection (ii) of this subsection (c). 

Section 6.3. Continuity of Benefits. 

(a) Additional Details Regarding Flexible Spending Accounts. 

(i) Pursuant to Section 6.1, effective as of the Effective Time, CPLG or another CPLG Entity shall cause CPLG Welfare Plan
Participants to become eligible for health care flexible spending account benefits and dependent care flexible spending account benefits (each a “CPLG FSA”). 

(ii) It is the intention of the Parties that all activity under a CPLG Welfare Plan Participant’s flexible spending
account with LQ for the plan year in which the Effective Time occurs be treated instead as activity under the corresponding CPLG FSA. Accordingly, (i) any period of participation by a CPLG Welfare Plan Participant in an LQ Welfare Plan flexible
spending account during the plan year in which the Effective Time occurs (the “FSA Participation Period”) will be deemed a period when the CPLG Welfare Plan Participant participated in the corresponding CPLG FSA; (ii) all
expenses incurred during the FSA Participation Period will be deemed incurred while the CPLG Welfare Plan Participant’s coverage was in effect under the corresponding CPLG FSA and (iii) all elections and reimbursements made with respect to
an FSA Participation Period under an LQ Welfare Plan flexible spending account will be deemed to have been made with respect to the corresponding CPLG FSA. 

  
 19 

 (iii) If the aggregate reimbursement payouts made to CPLG Welfare Plan
Participants prior to the Effective Time from the LQ Welfare Plan flexible spending accounts during the plan year in which the Effective Time occurs are less than the aggregate accumulated contributions to such accounts made by such CPLG Welfare
Plan Participants prior to the Effective Time for such plan year, LQ shall cause an amount equal to the amount by which such contributions are in excess of such reimbursement payouts to be transferred to CPLG (or a CPLG Entity designated by CPLG) by
wire transfer of immediately available funds as soon as practicable, but in no event later than 45 days, following the Effective Time. 

(iv) If the aggregate reimbursement payouts made to CPLG Welfare Plan Participants prior to the Effective Time from the
applicable LQ Welfare Plan flexible spending accounts during the plan year in which the Effective Time occurs exceed the aggregate accumulated contributions to such accounts made by the CPLG Welfare Plan Participants prior to the Effective Time for
such plan year, CPLG shall cause an amount equal to the amount by which such reimbursement payouts are in excess of such contributions to be transferred to LQ (or an LQ Entity designated by LQ) by wire transfer of immediately available funds as soon
as practicable, but in no event later than 45 days, following the Effective Time. 
 (v) Notwithstanding anything in this
Section 6.3(a), at and after the Effective Time, the CPLG Group shall assume, and cause the CPLG Welfare Plans to be solely responsible for, all claims by CPLG Welfare Plan Participants under the applicable LQ Welfare Plan flexible spending
accounts that were incurred after the Effective Time. 
 (b) Additional Details Regarding Health Savings Accounts. 

(i) Pursuant to Section 6.1, CPLG or another CPLG Entity shall establish and adopt CPLG Welfare Plans no later than the
Effective Time and will coordinate with a health savings account custodian to make available a health savings account option for eligible CPLG Welfare Plan Participants (a “CPLG HSA”). The health savings account option will provide
health savings account benefits to eligible CPLG Welfare Plan Participants similar to the benefits provided to eligible participants in the health savings account option of the LQ Welfare Plans. The health savings account made available in
connection with the CPLG Welfare Plans shall be effective as of the Effective Time. 
 (ii) It is the intention of the
Parties that all activity under a CPLG Welfare Plan Participant’s health savings account with LQ for the year in which the Distribution occurs be treated instead as activity under the corresponding CPLG HSA. Accordingly, (i) any period of
participation by a CPLG Welfare Plan Participant in an LQ health savings account during the year in which the Effective Time occurs (the “HSA Participation Period”) will be deemed a period when the CPLG Welfare Plan Participant
participated in the corresponding CPLG HSA; (ii) all expenses incurred during the HSA Participation Period will be deemed incurred while the CPLG Welfare Plan Participant’s coverage was in effect under the corresponding CPLG HSA and
(iii) all elections and reimbursements made with respect to an HSA Participation Period under an LQ Welfare Plan health savings account will be deemed to have been made with respect to the corresponding CPLG HSA. 

  
 20 

 (c) Employer Non-Elective Contributions. 

(i) As of the Effective Time, CPLG shall cause any CPLG Welfare Plans that constitute a “cafeteria plan” under
Section 125 of the Code to recognize and give effect to all non-elective employer contributions credited toward coverage of a CPLG Welfare Plan Participant under the corresponding LQ Welfare Plan that is
a cafeteria plan under Section 125 of the Code for the applicable plan year. 
 (ii) For the avoidance of doubt, CPLG
shall cause all contributions for coverage made before the Effective Time for all CPLG Welfare Plan Participants who are participating in LQ Welfare Plans to be remitted to LQ within the period required by Labor Regulation Section 2510.3-102(a)(1) and any other applicable guidance. 
 (d) Waiver of Conditions or
Restrictions. Unless prohibited by applicable Law, the CPLG Welfare Plans will waive all limitations, exclusions, service conditions, waiting period limitations or evidence of insurability requirements that would otherwise be applicable to a
CPLG Welfare Plan Participant to the extent that such Employee had previously satisfied such limitations under the corresponding LQ Welfare Plans. 

Section 6.4. Insurance Contracts. To the extent any LQ Welfare Plan is funded through the purchase of an insurance contract or is
subject to any stop loss contract, LQ and CPLG will cooperate and use their commercially reasonable efforts to replicate such insurance contracts for CPLG (except to the extent changes are required under applicable state insurance Laws or filings by
the respective insurers) and to maintain any pricing discounts or other preferential terms for both LQ and CPLG for a reasonable term. Neither Party shall be liable for failure to obtain such insurance contracts, pricing discounts or other
preferential terms for the other Party. Each Party shall be responsible for any additional premiums, charges or administrative fees that such Party may incur pursuant to this Section 6.4. 

Section 6.5. Third-Party Vendors. Except as provided below, to the extent any LQ Welfare Plan is administered by a third-party
vendor, LQ and CPLG will cooperate and use their commercially reasonable efforts to replicate any contract with such third-party vendor for CPLG and to maintain any pricing discounts or other preferential terms for both LQ and CPLG for a reasonable
term. Neither Party shall be liable for failure to obtain such pricing discounts or other preferential terms for the other Party. Each Party shall be responsible for any additional premiums, charges or administrative fees that such Party may incur
pursuant to this Section 6.5. 
 ARTICLE VII 

WORKERS’ COMPENSATION AND UNEMPLOYMENT COMPENSATION 

Section 7.1. CPLG Workers’ Compensation and Unemployment Compensation. Effective as of the Effective
Time, CPLG shall, or shall cause another CPLG Entity to, assume the obligations for all claims and Liabilities relating to (a) workers’ compensation benefits with respect to injuries that occur following the Effective Time affecting CPLG
Group Employees; and (b) unemployment compensation benefits for all CPLG Group Employees. Effective as of the Effective Time, CPLG, acting through the CPLG Entity employing each CPLG Group Employee, will be responsible for (x) obtaining
workers’ 

  
 21 

 
compensation insurance, including providing all collateral required by the insurance carriers, and (y) establishing new or transferred unemployment insurance employer accounts, policies and
claims handling contracts with the applicable government agencies. To the extent that such insurance coverage cannot be either assigned to or obtained by CPLG or a CPLG Entity, in respect of claims and Liabilities otherwise to be assumed by CPLG or
a CPLG Entity pursuant to this Section 7.1, LQ shall remain primarily liable for such claims and Liabilities, but CPLG shall indemnify and hold harmless LQ for any such claims and Liabilities. If the preceding sentence applies, then at one or
more mutually agreed upon dates, LQ will determine the present value of such claims and Liabilities and CPLG shall reimburse LQ for that amount. 

Section 7.2. LQ Workers’ Compensation and Unemployment Compensation. Effective as of the Effective Time, the LQ
Entity employing each LQ Group Employee shall have (and, to the extent it has not previously had such obligations, such LQ Entity shall assume) the obligations for all claims and Liabilities relating to (a) workers’ compensation benefits
with respect to (i) injuries that occur at or prior to the Effective Time affecting any Employee or former Employee, and (ii) injuries that occur after the Effective Time affecting LQ Group Employees; and (b) unemployment compensation
benefits for all LQ Group Employees. 
 Section 7.3. Assignment of Contribution Rights. LQ will transfer and assign (or cause
another member of the LQ Parent Group to transfer and assign) to a member of the CPLG Group all rights to seek contribution or damages from any applicable third party (such as a third party who aggravates an injury to a worker who makes a
workers’ compensation claim) with respect to any workers’ compensation claim for which CPLG is responsible pursuant to this Article VII. CPLG will transfer and assign (or cause another member of the CPLG Group to transfer and assign)
to a member of the LQ Parent Group all rights to seek contribution or damages from any applicable third party (such as a third party who aggravates an injury to a worker who makes a workers’ compensation claim) with respect to any workers’
compensation claim for which LQ is responsible pursuant to this Article VII. 
 Section 7.4. Collateral. On and after the
Effective Time, CPLG (acting directly or through a member of the CPLG Group) shall be responsible for providing all collateral required by insurance carriers in connection with workers’ compensation claims for which Liability is allocated to
the CPLG Group under this Article VII. LQ (acting directly or through a member of the LQ Parent Group) shall be responsible for providing all collateral required by insurance carriers in connection with workers’ compensation claims for
which Liability is allocated to the LQ Parent Group under this Article VII. 
 Section 7.5. Cooperation. CPLG and LQ shall
use commercially reasonable efforts to provide that workers’ compensation and unemployment insurance costs are not adversely affected for either of them by reason of the Distribution. 

Section 7.6. ADA Liabilities. For clarity, nothing in this Agreement (including this Article VII) will override or alter the
allocation to the CPLG Group of any Liabilities (including those relating to ADA matters) included in Section 1.1(86)(iv) of the Distribution Agreement. 

  
 22 

 ARTICLE VIII 

RETENTION AND SEVERANCE 

Section 8.1. Establishment of CPLG Retention Plans. If the Effective Time occurs prior to the Outside Retention Date (as
defined in the applicable LQ Retention Bonus Plan), effective as of the Effective Time, CPLG shall, or shall cause a CPLG Entity to, establish and adopt a retention bonus plan (the “CPLG Retention Bonus Plan”) (such date, the
“CPLG Retention Bonus Plan Adoption Date”) to provide each CPLG Group Employee who (a) was a participant in the LQ Retention Bonus Plan as of immediately prior to the CPLG Retention Bonus Plan Adoption Date or (b) is hired
or promoted by a CPLG Entity on or following the Effective Time into a position and such employee would have been eligible to participate in the LQ Retention Bonus Plan had such employee been employed by an LQ Entity in such position immediately
prior to the Effective Time, benefits in respect of a “covered termination” following the CPLG Retention Bonus Plan Adoption Date that are the same as those with respect to such person under the LQ Retention Bonus Plan in the event that a
“covered termination” occurred at any time prior to the CPLG Retention Bonus Plan Adoption Date. As of the CPLG Retention Bonus Plan Adoption Date, (i) the CPLG Group Employees will no longer participate in the LQ Retention Bonus Plan
and (ii) no member of the LQ Parent Group shall have any further Liability for, and CPLG shall indemnify each member of the LQ Parent Group, and the officers, directors and employees of each member of the LQ Parent Group, and hold them harmless
with respect to any and all Liabilities and obligations whatsoever with respect to, claims made by or with respect to any CPLG Group Employees in connection with the CPLG Retention Bonus Plan, including such Liabilities relating to actions or
omissions of or by any member of the CPLG Group or any officer, director, employee or agent thereof prior to, on or after the CPLG Retention Bonus Plan Adoption Date. 

For the avoidance of doubt, (x) the Distribution itself shall constitute a “Significant Corporate Event” for purposes of the LQ
Retention Bonus Plan and (y) neither the transfer of employment to the CPLG Group nor the Distribution itself shall constitute a “Covered Termination” under the LQ Retention Bonus Plan. The Parties agree that, notwithstanding anything
to the contrary in this Agreement, the Distribution Agreement will determine the allocation of Liabilities with respect to all LQ Retention Bonus Plans. 

Section 8.2. Severance Arrangements, Plans, Policies and Guidelines. Effective as of the Effective Time, CPLG shall, or shall
cause a CPLG Entity to, establish severance arrangements, plans, policies or guidelines (collectively, the “CPLG Severance Arrangements”) under which CPLG Group Employees who, immediately prior to the Effective Time, are
participants in any LQ severance arrangement, plan, policy or guideline, including the La Quinta Holdings Inc. Severance Plan and La Quinta Holdings Inc. Executive Severance Plan, shall be eligible to participate immediately following the Effective
Time. Such CPLG Severance Arrangements will provide terms and conditions (including severance benefits) for CPLG Group Employees who are severed from the CPLG Group following the Effective Time that are substantially similar to the terms and
conditions (including severance benefits) provided under the applicable LQ severance arrangements, plans, policies and guidelines (including the La Quinta Holdings Inc. Severance Plan and La Quinta Holdings Inc. Executive Severance Plan) in which
such CPLG Group Employees participated immediately prior to the Effective Time. For the avoidance of doubt, the Distribution and the assignment, transfer or continuation of the employment of CPLG Group Employees contemplated by Section 3.1
shall not itself be deemed 

  
 23 

 
a severance of employment for purposes of this Agreement and any LQ severance arrangements, plans, policies or guidelines, and effective as of the Effective Time, CPLG Group Employees shall not
be eligible to receive any severance or other benefits under any LQ severance plans or policies. Without limiting the foregoing, (A) the Distribution shall constitute a “Significant Corporate Event” for purposes of the La Quinta
Holdings Inc. Executive Severance Plan and (B) neither the transfer of employment to the CPLG Group nor the Distribution itself shall constitute a “Covered Termination” under the La Quinta Holdings Inc. Executive Severance Plan or the
La Quinta Holdings Inc. Severance Plan. 
 ARTICLE IX 

GENERAL PROVISIONS 
 Section 9.1.
Preservation of Rights to Amend. The rights of each member of the LQ Parent Group and each member of the CPLG Group to amend, waive or terminate any Benefit Plan shall not be limited in any way by this Agreement. 

Section 9.2. Confidentiality. Each Party agrees that any information conveyed or otherwise received by or on behalf of a Party in
conjunction herewith that is not otherwise public through no fault of such Party is confidential and is subject to the terms of the confidentiality provisions set forth herein and in the Distribution Agreement, including Section 3.3(e)
of this Agreement and Section 7.6 of the Distribution Agreement. 
 Section 9.3. Administrative
Complaints/Litigation. On and after the Effective Time, CPLG shall assume, and be solely liable for, the handling, administration, investigation and defense of actions, including ERISA, occupational safety and health, employment standards, union
grievances, unfair labor practices, wrongful dismissal, discrimination or human rights, wage and hour and unemployment compensation claims asserted at any time against LQ or any member of the LQ Parent Group by any CPLG Group Employee (including any
dependent or beneficiary of any such CPLG Group Employee) or any other person, to the extent such actions or claims arise out of or relate to employment or the provision of services (whether as an employee, contractor, consultant or otherwise) to or
with respect to the business activities of any member of the CPLG Group after the Effective Time. To the extent that any legal action relates to a putative or certified class of plaintiffs, which includes both LQ Group Employees and CPLG Group
Employees and such action involves employment or benefit plan related claims, reasonable costs and expenses incurred by the Parties in responding to such legal action shall be allocated among the Parties equitably in proportion to a reasonable
assessment of the relative proportion of Employees included in or represented by the putative or certified plaintiff class. The procedures contained in the indemnification and related litigation cooperation provisions of the Distribution Agreement
shall apply with respect to each Party’s indemnification obligations under this Section 9.3. 
 Section 9.4. Reimbursement
and Indemnification. Each Party agrees to reimburse the other Party, within 45 days of receipt from the other Party of reasonable verification or except as otherwise provided in the Transition Services Agreement, for all costs and expenses which
the other Party may incur on its behalf as a result of any of the respective LQ and CPLG Welfare Plans, 401(k) plans, savings plans, retirement plans, Benefit Plans and pension plans and, as contemplated by Article VIII, any termination or
severance payments or 

  
 24 

 
benefits which are, as set forth in this Agreement, such Party’s responsibility. All Liabilities retained, assumed or indemnified against by CPLG pursuant to this Agreement, and all
Liabilities retained, assumed or indemnified against by LQ pursuant to this Agreement, shall in each case be subject to the indemnification provisions of the Distribution Agreement. Notwithstanding anything to the contrary, no provision of this
Agreement shall require any member of the LQ Parent Group to pay or reimburse to any member of the CPLG Group any benefit-related cost item that a member of the LQ Parent Group has paid or reimbursed to any member of the CPLG Group prior to the
Effective Time. 
 Section 9.5. Costs of Compliance with Agreement. Except as otherwise provided in this Agreement, each
Party shall pay its own expenses in fulfilling its obligations under this Agreement. 
 Section 9.6. Fiduciary Matters. LQ and
CPLG each acknowledges that actions required to be taken pursuant to this Agreement may be subject to fiduciary duties or standards of conduct under ERISA or other applicable Law, and no Party shall be deemed to be in violation of this Agreement if
it fails to comply with any provisions hereof based upon its good-faith determination (as supported by advice from counsel experienced in such matters) that to do so would violate such a fiduciary duty or standard. Each Party shall be responsible
for taking such actions as are deemed necessary and appropriate to comply with its own fiduciary responsibilities and shall fully release and indemnify the other Party for any Liabilities caused by the failure to satisfy any such responsibility.

 Section 9.7. Entire Agreement. This Agreement, together with the documents referenced herein (including the
Distribution Agreement and the Benefit Plans), constitutes the entire agreement and understanding among the Parties with respect to the subject matter hereof and supersedes all prior written and oral and all contemporaneous oral agreements and
understandings with respect to the subject matter hereof. To the extent any provision of this Agreement conflicts with the provisions of the Distribution Agreement, the provisions of this Agreement shall be deemed to control with respect to the
subject matter hereof. 
 Section 9.8. Binding Effect; No Third-Party Beneficiaries; Assignment. This Agreement shall inure to
the benefit of and be binding upon the Parties and their respective successors and permitted assigns. Except for Buyer (and any entity to which Buyer assigns its rights in accordance with Section 8.7 of the Merger Agreement), who is an intended
third party beneficiary of this Agreement, this Agreement is solely for the benefit of the Parties and should not be deemed to confer upon any third parties any remedy, claim, liability, reimbursement, cause of action or other right in excess of
those existing without reference to this Agreement. Nothing in this Agreement is intended to amend any Benefit Plan or affect the applicable plan sponsor’s right to amend or terminate any Benefit Plan pursuant to the terms of such plan. The
provisions of this Agreement are solely for the benefit of the Parties, and no current or former Employee, officer, director or independent contractor or any other individual associated therewith shall be regarded for any purpose as a third-party
beneficiary of this Agreement. This Agreement may not be assigned by any Party, except with the prior written consent of the other Parties, and Buyer. 

  
 25 

 Section 9.9. Amendment; Waivers. No change or amendment may be made to this Agreement
except by an instrument in writing signed on behalf of each of the Parties and by Buyer. Any Party may, at any time, (i) extend the time for the performance of any of the obligations or other acts of another Party; (ii) waive any
inaccuracies in the representations and warranties of another Party contained herein or in any document delivered pursuant hereto and (iii) waive compliance by another Party with any of the agreements, covenants or conditions contained herein.
Notwithstanding the foregoing, no waiver of any provision hereof or consent required or permitted to be given by LQ under this Agreement (including any extension of time), or failure of LQ to require performance by CPLG or any member of its Group of
any provision in this Agreement, shall be permitted without the prior written consent of Buyer (not to be unreasonably withheld, conditioned or delayed). Any such extension or waiver shall be valid only if set forth in an instrument in writing
signed by an authorized person of the Party to be bound thereby. No failure or delay on the part of any Party in the exercise of any right hereunder shall impair such right or be construed to be a waiver of, or acquiescence in, any breach of any
representation, warranty, covenant or agreement contained herein, nor shall any single or partial exercise of any such right preclude other or further exercises thereof or of any other right. 

Section 9.10. Remedies Cumulative. All rights and remedies existing under this Agreement or the schedules attached hereto are
cumulative to, and not exclusive of, any rights or remedies otherwise available. 
 Section 9.11. Notices. Unless otherwise
expressly provided herein, all notices, claims, certificates, requests, demands and other communications hereunder shall be in writing and shall be deemed to be duly given (i) when personally delivered; (ii) if mailed by registered or
certified mail, postage prepaid, return receipt requested, on the date the return receipt is executed or the letter is refused by the addressee or its agent; (iii) if sent by overnight courier which delivers only upon the executed receipt of
the addressee, on the date the receipt acknowledgment is executed or refused by the addressee or its agent or (iv) if sent by facsimile or electronic mail, on the date confirmation of transmission is received (provided, that a copy of
any notice delivered pursuant to this clause (iv) shall also be sent pursuant to clause (i), (ii) or (iii)), addressed to the attention of the addressee’s General Counsel at the address of its principal executive office or to such other
address or facsimile number for a Party as it shall have specified by like notice. Copies of all notices, claims, certificates, requests, demands and other communications hereunder shall be provided to Buyer at the following addresses and facsimile
numbers: 
 Wyndham Hotel Group, LLC 

22 Sylvan Way Parsippany, NJ 07054 

Attn: Chief Operating Officer 

  
 26 

 Facsimile: (973) 753-6760 

- and - 
 Wyndham Hotel Group,
LLC 
 22 Sylvan Way Parsippany, NJ 07054 

Attn: General Counsel, Wyndham Hotel Group 

Facsimile: (973) 753-6760. 

Section 9.12. Counterparts. This Agreement, including the schedules hereto and the other documents referred to herein, may be
executed in multiple counterparts, each of which when executed shall be deemed to be an original but all of which together shall constitute one and the same agreement. 

Section 9.13. Severability. If any term or other provision of this Agreement or the schedules attached hereto is determined by a non-appealable decision by a court, administrative agency or arbitrator to be invalid, illegal or incapable of being enforced by any rule of Law or public policy, all other conditions and provisions of this
Agreement shall nevertheless remain in full force and effect so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any Party. Upon such determination that any term or
other provision is invalid, illegal or incapable of being enforced, the court, administrative agency, or arbitrator shall interpret this Agreement so as to effect the original intent of the Parties as closely as possible in an acceptable manner to
the end that transactions contemplated hereby are fulfilled to the fullest extent possible. If any sentence in this Agreement is so broad as to be unenforceable, the provision shall be interpreted to be only so broad as is enforceable. 

Section 9.14. Governing Law. This Agreement shall be governed by and construed in accordance with the Laws of the State of
Delaware. 
 Section 9.15. Dispute Resolution; Consent to Jurisdiction and Waiver of Jury Trial. The procedures for
negotiation and binding arbitration set forth in Article VIII of the Distribution Agreement shall apply to any dispute, controversy or claim (whether sounding in contract, tort or otherwise) that arises out of or relates to this Agreement, any
breach or alleged breach hereof, the transactions contemplated hereby (including all actions taken in furtherance of the transactions contemplated hereby on or prior to the date hereof), or the construction, interpretation, enforceability or
validity hereof. 
 Section 9.16. Performance. Each of LQ and CPLG shall cause to be performed, and hereby guarantees the
performance of, all actions, agreements and obligations set forth herein to be performed by any member of the LQ Parent Group and any member of the CPLG Group, respectively. The Parties each agree to take such further actions and to execute,
acknowledge and deliver, or to cause to be executed, acknowledged and delivered, all such further documents as are reasonably requested by the other for carrying out the purposes of this Agreement or of any document delivered pursuant to this
Agreement. 

  
 27 

 Section 9.17. Construction. This Agreement shall be construed as if jointly drafted
by the Parties and no rule of construction or strict interpretation shall be applied against any Party. 
 Section 9.18. Effect if
Distribution Does Not Occur. Notwithstanding anything in this Agreement to the contrary, if the Distribution Agreement is terminated prior to the Effective Time, this Agreement shall be of no further force and effect and shall be void
ab initio. 
 Section 9.19. Code Sections 162(m) and 409A. Notwithstanding anything in this Agreement to
the contrary (including the treatment of non-qualified deferred compensation plans, outstanding long-term incentive awards and annual incentive awards as described herein), LQ and CPLG agree to negotiate in
good faith regarding the need for any treatment different from that otherwise provided herein to ensure that (i) a federal income tax deduction for the payment of any non-qualified deferred compensation
plan, long-term incentive award, annual incentive award or other compensation is, to the extent prescribed under the terms of the applicable plan and award agreement, not limited by reason of Section 162(m) of the Code, and (ii) the
treatment of any non-qualified deferred compensation plan, long-term incentive award, annual incentive award or other compensation does not cause the imposition of a penalty tax under Section 409A of the
Code. 

  
 28 

 IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed in their names by a
duly authorized officer as of the date first written above. 
  

			
	LA QUINTA HOLDINGS INC.
		
	By:	 	 /s/ Mark M. Chloupek

		 	Name: Mark M. Chloupek
		 	Title: Executive Vice President, Secretary and           General Counsel

 [Signature Page to Employee Matters Agreement]

 
			
	COREPOINT LODGING INC.
		
	By:	 	 /s/ Mark M. Chloupek

		 	Name: Mark M. Chloupek
		 	 Title: Executive Vice President, Secretary and

         General Counsel

 [Signature Page to Employee Matters Agreement]EX-10.2

 Exhibit 10.2 

TAX MATTERS AGREEMENT 

between 
 LA QUINTA
HOLDINGS INC. 
 and 

COREPOINT LODGING INC. 

Dated as of [ ], 2018 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
		
	 ARTICLE I DEFINITIONS AND INTERPRETATION
	  	 	2	 
			
	 Section 1.1.
	 	Definitions	  	 	2	 
	 Section 1.2.
	 	References; Interpretation	  	 	8	 
	 Section 1.3.
	 	Effective Time	  	 	8	 
		
	 ARTICLE II PREPARATION AND FILING OF TAX RETURNS
	  	 	8	 
			
	 Section 2.1.
	 	Responsibility to Prepare and File Pre-Distribution and Straddle Period Tax Returns	  	 	8	 
	 Section 2.2.
	 	Responsibility of Parties to Prepare and File Post-Distribution Tax Returns	  	 	9	 
	 Section 2.3.
	 	Time of Filing Tax Returns	  	 	9	 
		
	 ARTICLE III RESPONSIBILITY FOR PAYMENT OF TAXES
	  	 	9	 
			
	 Section 3.1.
	 	Responsibility for Payment of Taxes	  	 	9	 
	 Section 3.2.
	 	Reimbursement of Taxes	  	 	10	 
	 Section 3.3.
	 	Timing of Payments of Taxes	  	 	10	 
		
	 ARTICLE IV REFUNDS, CARRYBACKS AND AMENDED TAX RETURNS
	  	 	10	 
			
	 Section 4.1.
	 	Refunds	  	 	10	 
	 Section 4.2.
	 	Amended Tax Returns	  	 	11	 
		
	 ARTICLE V CERTAIN PLAN OF REORGANIZATION TAX MATTERS
	  	 	11	 
			
	 Section 5.1.
	 	Contribution Purchase Price Adjustment	  	 	11	 
	 Section 5.2.
	 	Consistency	  	 	14	 
	 Section 5.3.
	 	Section 336(e) Election	  	 	14	 
		
	 ARTICLE VI INDEMNIFICATION
	  	 	15	 
			
	 Section 6.1.
	 	Indemnification Obligations of LQ Parent	  	 	15	 
	 Section 6.2.
	 	Indemnification Obligations of CPLG	  	 	15	 
	 Section 6.3.
	 	Protected REITs	  	 	15	 
		
	 ARTICLE VII PAYMENTS
	  	 	16	 
			
	 Section 7.1.
	 	Payments	  	 	16	 
	 Section 7.2.
	 	Treatment of Payments Made Pursuant to Tax Matters Agreement	  	 	17	 
	 Section 7.3.
	 	Payments Net of Tax Benefit Actually Realized and Tax Cost	  	 	17	 
		
	 ARTICLE VIII AUDITS
	  	 	17	 
			
	 Section 8.1.
	 	Notice	  	 	17	 
	 Section 8.2.
	 	Audits	  	 	17	 
	 Section 8.3.
	 	Payment of Audit Amounts	  	 	19	 
		
	 ARTICLE IX COOPERATION AND EXCHANGE OF INFORMATION
	  	 	20	 
			
	 Section 9.1.
	 	Cooperation and Exchange of Information	  	 	20	 

  
 i 

							
	 	 	 	  	Page	 
	 Section 9.2.
	 	Retention of Records	  	 	21	 
		
	 ARTICLE X ALLOCATION OF TAX ATTRIBUTES AND OTHER TAX MATTERS
	  	 	21	 
			
	 Section 10.1.
	 	Allocation of Tax Attributes	  	 	21	 
	 Section 10.2.
	 	Allocation of Tax Items	  	 	21	 
		
	 ARTICLE XI DISPUTE RESOLUTION
	  	 	22	 
			
	 Section 11.1.
	 	Negotiation	  	 	22	 
	 Section 11.2.
	 	Mediation	  	 	22	 
	 Section 11.3.
	 	Confidentiality	  	 	22	 
	 Section 11.4.
	 	Continuity of Performance	  	 	22	 
		
	 ARTICLE XII MISCELLANEOUS
	  	 	23	 
			
	 Section 12.1.
	 	Counterparts	  	 	23	 
	 Section 12.2.
	 	Survival	  	 	23	 
	 Section 12.3.
	 	Notices	  	 	23	 
	 Section 12.4.
	 	Waivers	  	 	24	 
	 Section 12.5.
	 	Assignment	  	 	24	 
	 Section 12.6.
	 	Successors and Assigns	  	 	25	 
	 Section 12.7.
	 	Termination and Amendment	  	 	25	 
	 Section 12.8.
	 	No Circumvention	  	 	25	 
	 Section 12.9.
	 	Subsidiaries	  	 	25	 
	 Section 12.10.
	 	Third Party Beneficiaries	  	 	25	 
	 Section 12.11.
	 	Title and Headings	  	 	25	 
	 Section 12.12.
	 	Schedules	  	 	25	 
	 Section 12.13.
	 	Specific Performance	  	 	25	 
	 Section 12.14.
	 	Governing Law	  	 	26	 
	 Section 12.15.
	 	Consent to Jurisdiction	  	 	26	 
	 Section 12.16.
	 	Waiver of Jury Trial	  	 	26	 
	 Section 12.17.
	 	Interpretation	  	 	26	 
	 Section 12.18.
	 	Changes in Law	  	 	26	 
	 Section 12.19.
	 	Severability	  	 	27	 
	 Section 12.20.
	 	Tax Sharing Agreements	  	 	27	 
	 Section 12.21.
	 	Exclusivity	  	 	27	 
	 Section 12.22.
	 	No Waiver	  	 	27	 
	 Section 12.23.
	 	No Duplication; No Double Recovery	  	 	27	 

 Schedules 
 Schedule A

 Exhibits 
 Exhibit A – Form of Registration
Rights Agreement 

  
 ii 

 TAX MATTERS AGREEMENT 

THIS TAX MATTERS AGREEMENT (this “Agreement”) is made and entered into as of the day of [ ], 2018 between La Quinta Holdings
Inc., a Delaware corporation (“LQ Parent”), and CorePoint Lodging Inc., a Maryland corporation (“CPLG”). Each of LQ Parent and CPLG is sometimes referred to herein as a “Party” and, collectively, as
the “Parties”. 
 WITNESSETH: 

WHEREAS, LQ Parent, acting through its direct and indirect Subsidiaries, currently conducts a number of businesses, including (i) the LQ
Parent Retained Business and (ii) the Separated Real Estate Business; 
 WHEREAS, the Board of Directors of LQ Parent (the
“Board”) has determined that it is advisable and in the best interests of LQ Parent and its stockholders to separate LQ Parent into two separate companies, one for each of (i) the LQ Parent Retained Business, which shall be
owned and conducted, directly or indirectly, by LQ Parent and (ii) the Separated Real Estate Business, which shall be owned and conducted, directly or indirectly, by CPLG (which will elect to be a REIT); 

WHEREAS, to effect such separation, the Board has determined that it is advisable and in the best interests of LQ Parent and its stockholders
(i) to enter into a series of transactions after giving effect to which (A) LQ Parent and/or one or more of its Subsidiaries will, collectively, own all of the LQ Parent Retained Assets and assume (or retain) all of the LQ Parent Retained
Liabilities (as defined herein), and (B) CPLG and/or one or more of its Subsidiaries will, collectively, own all of the Separated Real Estate Assets and assume (or retain) all of the Separated Real Estate Liabilities and (ii) for LQ Parent
to distribute to the holders of the LQ Parent Common Stock (as defined herein), on a pro rata basis (in each case without consideration being paid by such stockholders), all of the outstanding shares of common stock, par value $0.01 per share, of
CPLG (the “CPLG Common Stock”); 
 WHEREAS, the Parties intend that (i) each of the contributions by LQ Parent of
Assets to CPLG in exchange for the payment or distribution of cash to LQ Parent, the issuance of the CPLG Common Stock and shares of preferred stock of CPLG (the “CPLG Preferred Stock”), if any, to LQ Parent and the assumption of
Liabilities by CPLG (such contributions, issuances and assumptions, the “Contribution”) constitute a taxable exchange for purposes of Section 1001 of the Internal Revenue Code of 1986, as amended (the “Code”);
provided that in the event the CPLG Preferred Stock is not issued in connection with the Contribution, or in the event LQ Parent is not able to dispose of the CPLG Preferred Stock prior to the Effective Time, the Contribution shall be treated
as a transfer governed by Section 351 of the Code (and, for the avoidance of doubt, the Cash Payment (as defined in the Distribution Agreement) shall be governed by Section 351(b) of the Code) (the “Section 351
Transaction”), and (ii) the distribution by LQ Parent of all of the CPLG Common Stock (the “Distribution”) will be treated as a taxable distribution by LQ Parent for U.S. federal income tax purposes and as a partial
redemption of the holders of record of shares of LQ Parent in consideration for the LQ Parent Share Cancellation (as defined in the Distribution Agreement) in connection with the Merger (as defined in the Distribution Agreement) in a transaction
that is subject to Section 302(b) of the Code (the “Intended Tax Treatment”); and 

 WHEREAS, each of LQ Parent and CPLG has determined that it is necessary and desirable to set
forth the principal corporate transactions required to effect the Plan of Reorganization and the Distribution and to set forth other agreements that will govern the rights and obligations with respect to handling and allocating Taxes and related
matters following the Effective Time. 
 NOW, THEREFORE, in consideration of the foregoing and the mutual agreements, provisions and
covenants contained in this Agreement, the Parties hereby agree as follows: 
 ARTICLE I 

DEFINITIONS AND INTERPRETATION 

Section 1.1. Definitions. As used in this Agreement, the following terms shall have the following meanings: 

(1) “ACA Taxes” means all Taxes and Losses attributable to any failure to comply with Section 4980H of the Code by LQ
Parent and/or its Subsidiaries for the taxable years ending December 31, 2015 and December 31, 2016. 
 (2)
“Affiliate” means a Person that directly, or indirectly, through one or more intermediaries, controls, or is controlled by, or is under common control with, a specified Person. A Person shall be deemed to control another Person if
such first Person possesses, directly or indirectly, the power to direct, or cause the direction of, the management and policies of such other Person, whether through the ownership of voting securities, by contract or otherwise. For purposes hereof,
none of the Parties or their respective Subsidiaries shall be considered an “Affiliate” of any of the other Parties or their respective Subsidiaries (determined on the same basis). For the avoidance of doubt, for purposes hereof, neither
The Blackstone Group L.P. (nor any of its Affiliates) shall be considered an “Affiliate” of any Party or its Subsidiaries. 
 (3)
“Agreement” has the meaning set forth in the preamble hereto. 
 (4) “Agreement Dispute” has the meaning
set forth in Section 11.1. 
 (5) “Ancillary Agreement” has the meaning set forth in the Distribution Agreement. 

(6) “Assets” has the meaning set forth in the Distribution Agreement. 

(7) “Assumed Tax Rate” means 24.65%. 

(8) “Audit” means any audit, assessment of Taxes, other examination or litigation by or on behalf of any Taxing Authority
(including notices), proceeding, or appeal of such a proceeding relating to Taxes, whether administrative or judicial, including proceedings relating to competent authority determinations initiated by a Party or any of its Subsidiaries. 

  
 2 

 (9) “Audit Management Party” means the Party responsible for administering and
controlling an Audit pursuant to Section 8.2(a). 
 (10) “Audit Representative” means the chief tax officer of each
Party (or such other officer of a Party that may be designated by that Party’s Chief Financial Officer from time to time). 
 (11)
“Big Four Accounting Firm” means each of Deloitte & Touche LLP, Ernst & Young LLP, KPMG LLP, and PricewaterhouseCoopers LLP. 

(12) “Board” has the meaning set forth in the recitals hereto. 

(13) “Business Day” means any day other than a Saturday, Sunday or a day on which banks are required to be closed in New York,
New York. 
 (14) “Buyer” has the meaning set forth in the Distribution Agreement. 

(15) “Code” has the meaning set forth in the recitals hereto. 

(16) “Contribution” has the meaning set forth in the recitals hereto. 

(17) “Contribution Taxes” has the meaning set forth in Section 5.1(a). 

(18) “CPLG” has the meaning set forth in the preamble hereto. 

(19) “CPLG Common Stock” has the meaning set forth in the recitals hereto. 

(20) “CPLG Group” has the meaning set forth in the Distribution Agreement. 

(21) “CPLG Preferred Stock” has the meaning set forth in the recitals hereto. 

(22) “CPR” has the meaning set forth in Section 11.2. 

(23) “Determination Date” has the meaning set forth in Section 5.1(b). 

(24) “Distribution” has the meaning set forth in the recitals hereto. 

(25) “Distribution Agreement” means the Separation and Distribution Agreement by and between LQ Parent and CPLG, dated as of
January    , 2018. 
 (26) “Distribution Date” has the meaning set forth in the Distribution Agreement.

 (27) “Due Date” means the date (taking into account all valid extensions) upon which a Tax Return is required to be filed
with or Taxes are required to be paid to a Taxing Authority, whichever is applicable. 
 (28) “Effective Registration Date”
has the meaning set forth in Section 5.1(d). 
 (29) “Effective Time” has the meaning set forth in the Distribution
Agreement. 

  
 3 

 (30) “Escrow Account” has the meaning set forth in Section 6.3. 

(31) “Estimated Statement” has the meaning set forth in Section 5.1(a). 

(32) “Expense Amount” has the meaning set forth in Section 6.3. 

(33) “Expense Amount Accountant’s Letter” has the meaning set forth in Section 6.3. 

(34) “Expense Amount Tax Opinion” has the meaning set forth in Section 6.3. 

(35) “Final Determination” means the final resolution of liability for any Tax for any taxable period, by or as a result of:

 (a) a final decision, judgment, decree or other order by any court of competent jurisdiction that can no longer be appealed to a court
other than the Supreme Court of the United States; 
 (b) a final settlement with the IRS, a closing agreement or accepted offer in
compromise under Sections 7121 or 7122 of the Code, or a comparable agreement under the Laws of other jurisdictions, which resolves the liability for the Taxes addressed in such agreement for any taxable period; 

(c) any allowance of a refund or credit in respect of an overpayment of Tax, but only after the expiration of all periods during which such
refund or credit may be recovered by the jurisdiction imposing the Tax; or 
 (d) any other final disposition, including by reason of the
expiration of the applicable statute of limitations. 
 (36) “Group” means the LQ Parent Group or the CPLG Group. 

(37) “Income Taxes” mean: 

(a) all Taxes based upon, measured by, or calculated with respect to (i) net income or profits (including, but not limited to, any capital
gains, minimum tax or any Tax on items of tax preference, but not including sales, use, real, or personal property, gross or net receipts, value added, excise, leasing, transfer or similar Taxes), or (ii) multiple bases (including, but not
limited to, corporate franchise, doing business and occupation Taxes) if one or more bases upon which such Tax is determined is described in clause (a)(i) above; and 

(b) all U.S., state, local or non-U.S. franchise Taxes. 

(38) “Income Tax Returns” mean all Tax Returns that relate to Income Taxes. 

(39) “Indemnified Party” means the Party which is or may be entitled pursuant to this Agreement to receive any payments
(including reimbursement for Taxes or costs and expenses) from another Party to this Agreement. 

  
 4 

 (40) “Indemnifying Party” means the Party which is or may be required pursuant
to this Agreement to make indemnification or other payments (including reimbursement for Taxes and costs and expenses) to another Party to this Agreement. 

(41) “Intended Tax Treatment” has the meaning set forth in the recitals hereto. 

(42) “IRS” means the United States Internal Revenue Service or any successor thereto, including, but not limited to its
agents, representatives, and attorneys. 
 (43) “Issuance VWAP Value” has the meaning set forth in Section 5.1(d). 

(44) “Law” means any U.S. or non-U.S. federal, national, supranational, state,
provincial, local or similar statute, law, ordinance, regulation, rule, code, administrative pronouncement, order, requirement or rule of law (including common law), or any income tax treaty. 

(45) “LIBOR” has the meaning set forth in the Distribution Agreement. 

(46) “Losses” has the meaning assigned to the term “Indemnifiable Losses” in the Distribution Agreement. 

(47) “LQ Parent” has the meaning set forth in the preamble hereto. 

(48) “LQ Parent Common Stock” has the meaning set forth in the Distribution Agreement. 

(49) “LQ Parent Group” has the meaning set forth in the Distribution Agreement. 

(50) “LQ Parent Prepared Returns” has the meaning set forth in Section 2.1. 

(51) “LQ Parent Retained Assets” has the meaning set forth in the Distribution Agreement. 

(52) “LQ Parent Retained Business” has the meaning set forth in the Distribution Agreement. 

(53) “LQ Parent Retained Liabilities” has the meaning set forth in the Distribution Agreement. 

(54) “Negotiation Period” has the meaning set forth in Section 11.1. 

(55) “Non-Income Tax Returns” mean all Tax Returns other than Income Tax Returns. 

(56) “Nonqualifying Income” shall mean any amount that is treated as gross income for purposes of Section 856 of the Code
and which is not Qualifying Income. 
 (57) “Participating Party” has the meaning set forth in Section 8.2(c). 

(58) “Party” has the meaning set forth in the preamble hereto. 

  
 5 

 (59) “Person” means any natural person, firm, individual, corporation, business
trust, joint venture, association, company, limited liability company, partnership, or other organization or entity, whether incorporated or unincorporated, or any governmental entity. 

(60) “Plan of Reorganization” has the meaning set forth in the Distribution Agreement. 

(61) “Post-Distribution Tax Period” means a Tax period beginning and ending after the Distribution Date. 

(62) “Pre-Distribution Tax Period” means a Tax period beginning and ending on or
before the Distribution Date. 
 (63) “Protected REIT” shall mean any entity that (i) has elected to be taxed as a REIT
and (ii) either (a) is an Indemnified Party or (b) owns a direct or indirect equity interest in any Indemnified Party and is treated for purposes of Section 856 of the Code as owning all or a portion of the assets of such Indemnified
Party or as receiving all or a portion of such Indemnified Party’s income. 
 (64) “Qualifying Income” shall mean gross
income that is described in Section 856(c)(3) of the Code. 
 (65) “Registration Rights Agreement” has the meaning set
forth in Section 5.1(d). 
 (66) “Registration Statement” has the meaning set forth in Section 5.1(d). 

(67) “Registration VWAP Value” has the meaning set forth in Section 5.1(e). 

(68) “REIT” shall mean a “real estate investment trust” within the meaning of Section 856(a) of the Code. 

(69) “REIT Qualification Ruling” has the meaning set forth in Section 6.3. 

(70) “REIT Requirements” shall mean the requirements imposed on REITs pursuant to Sections 856 through and including 860
of the Code. 
 (71) “Release Document” has the meaning set forth in Section 6.3. 

(72) “Reserve Amount” means an amount equal to $240,000,000. 

(73) “SEC” means the United States Securities and Exchange Commission. 

(74) “Section 351 Transaction” has the meaning set forth in the recitals. 

(75) “Securities Act” means the U.S. Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder,
as the same may be amended from time to time. 
 (76) “Separated Real Estate Assets” has the meaning set forth in the
Distribution Agreement. 

  
 6 

 (77) “Separated Real Estate Businesses” has the meaning set forth in the
Distribution Agreement. 
 (78) “Share Issuance” has the meaning set forth in Section 5.1(d). 

(79) “Shares” has the meaning set forth in Section 5.1(d). 

(80) “Specified Ancillary Agreement” has the meaning set forth in the Distribution Agreement. 

(81) “Straddle Tax Period” means a Tax period beginning before the Distribution Date and ending after the Distribution Date.

 (82) “Subsidiary” has the meaning set forth in the Distribution Agreement. 

(83) “Supplemental Share Issuance” has the meaning set forth in Section 5.1(e). 

(84) “Tax” or “Taxes” means (i) all taxes, charges, fees, imposts, levies or other assessments,
including all net income, gross receipts, capital, sales, use, gains, ad valorem, value added, transfer, franchise, profits, inventory, capital stock, license, withholding, payroll, employment, social security, unemployment, excise, severance,
stamp, occupation, property and estimated taxes, custom duties, fees, assessments and charges of any kind whatsoever, and (ii) liability for the payment of any amount of the type described in clause (i) above arising as a result of being
(or having been) a member of any group or being (or having been) included or required to be included in any Tax Return related thereto. Whenever the term “Tax” or “Taxes” is used it shall include penalties, fines, additions to
tax and interest thereon. 
 (85) “Tax Attributes” mean for U.S. federal, state, local, and
non-U.S. Income Tax purposes, earnings and profits, tax basis, net operating and capital loss carryovers or carrybacks, alternative minimum Tax credit carryovers or carrybacks, general business credit
carryovers or carrybacks, income tax credits or credits against income tax, disqualified interest and excess limitation carryovers or carrybacks, overall foreign losses, research and experimentation credit base periods, and all other items that are
determined or computed on an affiliated group basis (as defined in Section 1504(a) of the Code determined without regard to the exclusion contained in Section 1504(b)(3) of the Code), or similar Tax items determined under applicable Tax
law. 
 (86) “Tax Benefit Actually Realized” means with respect to a Party and its Affiliates a reduction in the amount of
Taxes that are required to be paid or an increase in refund due, whether resulting from a deduction, from reduced gain or increased loss from disposition of an asset, or otherwise, such reduction or increase in refund due determined on an
“actually realized” basis. For purposes of this definition, a Party or its Affiliates will be deemed to have “actually realized” such reduction or increase in refund due at the time the amount of Taxes such Party or any of its
Affiliates is required to pay is reduced or the amount of any refund due is increased. The amount of any Tax Benefit Actually Realized shall be computed on a “with and without” basis. 

(87) “Taxing Authority” means any governmental authority or any subdivision, agency, commission, or authority thereof or any
quasi-governmental or private body having jurisdiction over the assessment, determination, collection, or imposition of any Tax (including the IRS). 

  
 7 

 (88) “Tax Returns” mean any return, report, certificate, form or similar
statement or document (including any related or supporting information or schedule attached thereto and any information return, amended tax return, claim for refund, or declaration of estimated Tax) required to be supplied to, or filed with, a
Taxing Authority in connection with the determination, assessment or collection of any Tax or the administration of any Laws, regulations, or administrative requirements relating to any Taxes. 

(89) “Tax Sharing Agreement” has the meaning set forth in Section 8.3(c). 

(90) “Treasury Regulations” mean the income tax and administrative regulations promulgated from time to time under the Code,
as in effect for the relevant Tax Period. 
 (91) “U.S.” means the United States of America. 

(92) “Valuation Shortfall” has the meaning set forth in Section 5.1(e). 

Section 1.2. References; Interpretation. Terms not otherwise defined herein shall have the meaning ascribed to them in the Distribution
Agreement. References in this Agreement to any gender include references to all genders, and references to the singular include references to the plural and vice versa. Unless the context otherwise requires, the words “include”,
“includes”, and “including” when used in this Agreement shall be deemed to be followed by the phrase “without limitation”. Unless the context otherwise requires, references in this Agreement to Articles, Sections and
Schedules shall be deemed references to Articles and Sections of, and Schedules to, this Agreement. Unless the context otherwise requires, the words “hereof”, “hereby”, and “herein” and words of similar meaning when
used in this Agreement refer to this Agreement in its entirety and not to any particular Article, Section or provision of this Agreement. Unless the context otherwise requires, the word “stock” or “shares” refers to any equity
interests of the applicable entity for U.S. federal income tax purposes, and any references to a Person include a reference to any successor to such Person. 

Section 1.3. Effective Time. Notwithstanding that certain interrelated and intermediate internal transactions must be given effect
prior to the Distribution, the agreements contained herein, including, but not limited to, the manner in which Taxes are shared amongst the Parties, shall be effective no earlier than and only upon the Effective Time. 

ARTICLE II 

PREPARATION AND FILING OF TAX RETURNS 

Section 2.1. Responsibility to Prepare and File Pre-Distribution and Straddle Period Tax
Returns. To the extent not previously filed and subject to the rights and obligations of each of the Parties set forth herein, LQ Parent shall prepare or cause to be prepared (i) all Tax Returns required to be filed by each Party or its
Affiliates for the Pre-Distribution Tax Period and (ii) all Tax Returns required to be filed by each Party or its Affiliates for any Straddle Tax Period (the “LQ Parent Prepared
Returns”). LQ Parent shall file or cause to be filed all such LQ Parent 

  
 8 

 
Prepared Returns with the applicable Taxing Authority to the extent a member of the LQ Parent Group is responsible under applicable Law for filing such Tax Returns, and CPLG shall cooperate (or
cause its Subsidiaries to cooperate) in the filing of such Tax Returns to the extent a member of the CPLG Group is responsible for filing such Tax Returns under applicable Law. All expenses relating to the preparation and filing of LQ Parent
Prepared Returns shall be borne by LQ Parent. With respect to any LQ Parent Prepared Returns that includes any member of the CPLG Group, LQ Parent shall provide CPLG with a copy of each such proposed Tax Return (or, if such LQ Parent Prepared
Returns include members of the LQ Parent Group, solely the portion thereof relating to any member of the CPLG Group) for review and comment at least twenty (20) days prior to the filing of such Tax Return. Subject to the preceding sentence, no
later than ten (10) days after the receipt of such Tax Returns, CPLG shall have a right to comment on such LQ Parent Prepared Returns (or portions thereof) by written notice to LQ Parent; such written notice shall contain any disputed item (or
items) and the basis for the comment. If CPLG does not provide comments by proper written notice within the time period described, such Tax Return shall be deemed to have been accepted and agreed upon, and to be final and conclusive, for purposes of
this Section 2.1. If CPLG does provide comments by proper written notice within such applicable time period, LQ Parent shall consider CPLG’s comments on such Tax Return in good faith and shall include any such comments that are required to
make such Tax Return consistent with applicable Law, this Agreement, the Distribution Agreement or any other Specified Ancillary Agreement. 

Section 2.2. Responsibility of Parties to Prepare and File Post-Distribution Tax Returns. The Party or its Affiliate responsible under
applicable Law for filing a Tax Return in respect of a Post-Distribution Tax Period (in each case required to be filed after the Distribution Date) shall prepare and file or cause to be prepared and filed that Tax Return; provided that no such Tax
Return shall include any election that is retroactive to any Pre-Distribution Tax Period or Straddle Period unless required by Law. Notwithstanding the foregoing, LQ Parent may make any such election if it
would not increase any amount of Tax payable by (or reduce any amount of Tax attribute otherwise available to) a member of the CPLG Group after the Closing Date. 

Section 2.3. Time of Filing Tax Returns. Each Tax Return shall be filed on or prior to the Due Date for such Tax Return by the Party
responsible for filing such Tax Return hereunder. 
 ARTICLE III 

RESPONSIBILITY FOR PAYMENT OF TAXES 

Section 3.1. Responsibility for Payment of Taxes. LQ Parent shall be liable for and shall pay or cause to be paid (i) all Taxes
shown on any Tax Return of each Party or any member of its Group for any Pre-Distribution Tax Period, subject to Section 8.3(b), (ii) all Taxes shown on any Tax Return of LQ Parent or any member of its
Group for any Straddle Tax Period, (iii) the portion of any Taxes allocable to the period ending on the Distribution Date (determined in accordance with Section 10.2) shown on any Tax Return of CPLG or any member of its Group for any
Straddle Tax Period, and (iv) 50% of any ACA Taxes. CPLG shall be liable for and shall pay or cause to be paid (i) the portion of any Taxes allocable to the period beginning after the Distribution Date (determined in accordance with
Section 10.2) shown on any Tax Return of 

  
 9 

 
CPLG or any member of its Group for any Straddle Tax Period and (ii) 50% of any ACA Taxes. Each of LQ Parent and CPLG shall be liable for and shall pay or cause to be paid the Taxes shown on the
Tax Returns for any Post-Distribution Tax Period for which it has the responsibility to prepare under Article II to the applicable Taxing Authority. In the event the CPLG Preferred Stock is not issued in connection with the Contribution or LQ
Parent is not be able to dispose of the CPLG Preferred Stock prior to the Effective Time, (i) LQ Parent and CPLG shall be required to file consolidated U.S. federal income Tax Returns (consolidated, unitary, aggregate, combined or similar state
income Tax Returns, where applicable) for the taxable year of CPLG that includes the Distribution; (ii) such CPLG Preferred Stock, if any, shall not have terms that impose any economic costs, or have any adverse effect, on LQ Parent (and
provided that it is understood that such CPLG Preferred Stock shall (x) be non-voting stock, and (y) provide for a cash-pay coupon), and (iii) LQ Parent
shall be prohibited from distributing any CPLG Preferred Stock to its stockholders or securityholders without the prior written consent of CPLG, not to be unreasonably withheld, conditioned or delayed. Notwithstanding anything to the contrary herein
or in the Distribution Agreement, CPLG shall not be required to issue any CPLG Preferred Stock in the Contribution. 
 Section 3.2.
Reimbursement of Taxes. No later than five (5) Business Days prior to the relevant Due Date for Taxes described in Section 3.1, LQ Parent shall pay CPLG, an amount in immediately available funds equal to such Taxes to the extent
they represent Taxes shown on Tax Returns for (i) any Pre-Distribution Tax Period or (ii) the portion of any Straddle Tax Period ending on the Distribution Date (determined in accordance with
Section 10.2), in each case, for which a member of the CPLG Group has responsibility to file under applicable Law. No later than the Determination Date, CPLG shall pay to LQ Parent an amount in immediately available funds for the portion of any
Taxes for a Straddle Tax Period paid prior to the Distribution that are allocable to CPLG for the portion of any Straddle Tax Period beginning after the Distribution Date (determined in accordance with Section 10.2). 

Section 3.3. Timing of Payments of Taxes. All Taxes required to be paid or caused to be paid by a Party to a Taxing Authority pursuant
to this Article III shall be paid or caused to be paid by such Party on or prior to the Due Date of such Taxes. All amounts required to be paid by one Party to another Party pursuant to this Article III shall be paid or caused to be paid
by such first Party to such other Party in accordance with Article VII. 
 ARTICLE IV 

REFUNDS, CARRYBACKS AND AMENDED TAX RETURNS 

Section 4.1. Refunds. 

(a) Each Party shall be entitled to refunds (including any similar credit or offset of Taxes) that relate to Taxes for which it is liable
hereunder in accordance with Article III (taking into account Section 3.2) or Article VI, including any refunds (or similar credit or offset of Taxes) resulting from overpayments of estimated Taxes on or prior to the Distribution Date
in respect of a Straddle Tax Period; provided, however, that each Party shall be entitled to refunds (including any similar credit or offset of Taxes) that relate to Taxes for which it was actually liable in accordance with
Article VIII. 

  
 10 

 (b) Any refund or portion thereof to which a Party is entitled pursuant to this Section 4.1
that is received or deemed to have been received as described herein by another Party, shall be paid by such other Party to such first Party in immediately available funds in accordance with Article VII. 

Section 4.2. Amended Tax Returns. 

(a) Notwithstanding Sections 2.1 and 2.2, a Party or member of its Group that is entitled to file an amended Tax Return for a Pre-Distribution Tax Period or a Straddle Tax Period for members of its Group shall be permitted to prepare and file an amended Tax Return at its own cost and expense; provided, however, that
(i) such amended Tax Return shall be prepared in a manner consistent with the past practice of the Parties and their Affiliates unless otherwise modified by a Final Determination or required by applicable Law; and (ii) if such amended Tax
Return could result in the other Party becoming responsible for a payment of Taxes pursuant to Article III or a payment to a Party pursuant to Article VIII, such amended Tax Return shall be permitted only if the prior written consent of
such other Party is obtained. The consent of such other Party shall not be withheld unreasonably and shall be deemed to have been obtained if a Party or a member of its Group is required to file an amended Tax Return as a result of an Audit
adjustment that arose in accordance with Article VIII. 
 (b) A Party or a member of its Group that is entitled to file an amended Tax
Return for a Post-Distribution Tax Period shall be permitted to do so without the consent of any Party. 
 (c) A Party that is permitted (or
whose Group member is permitted) to file an amended Tax Return shall not be relieved of any liability for payments pursuant to this Agreement notwithstanding that another Party consented thereto. 

ARTICLE V 
 CERTAIN
PLAN OF REORGANIZATION TAX MATTERS 
 Section 5.1. Contribution Purchase Price Adjustment. 

(a) No later than ten (10) Business Days following the Distribution Date, CPLG will deliver to LQ Parent a written worksheet (the
“Estimated Statement”) setting forth in reasonable detail CPLG’s good faith reasonable estimate of the U.S. federal, state and local Income Taxes of LQ Parent (and/or CPLG in the event of a Section 351 Transaction)
attributable to the Contribution or Distribution (excluding any withholding obligation, and in each case determined for all purposes of this Agreement on a “with and without” basis) (the actual amount of such Taxes, “Contribution
Taxes”) as well as a computation thereof. The calculation of estimated Contribution Taxes shall be based on the following assumptions: (i) the Intended Tax Treatment is respected; (ii) the combined effective U.S. federal, state
and local Income Tax rate applicable to the amount of income or gain recognized by LQ Parent (and/or CPLG in the event of a Section 351 Transaction) in the Contribution or Distribution is equal to the Assumed Tax Rate; and (iii) the amount
of income or gain recognized by LQ Parent (and/or CPLG in the event of a Section 351 Transaction) for U.S. federal, state and local Income Tax purposes in the 

  
 11 

 
Contribution will (w) be based on the fair market value of the CPLG Common Stock on the first Business Day following the Distribution Date (determined based on the volume weighted average
price of shares of CPLG Common Stock on the primary securities exchange on which shares of CPLG Common Stock are listed during the period beginning at 9:30 a.m., New York City time (or such other time as is the official open of trading on such
exchange) and ending at 4:00 p.m., New York City time (or such other time as is the official close of trading on such exchange), as obtained from Bloomberg L.P. or its successor, on the first Business Day following the Distribution Date) and the
fair market value of the CPLG Preferred Stock, if any, on the date of the Contribution (determined based on the amount paid for the CPLG Preferred Stock to LQ Parent by third party purchasers, if applicable), (x) take into account the total amount
of cash received by LQ Parent in the Contribution (taking into account the Cash Payment (as defined in the Distribution Agreement), (y) take into account the total amount of liabilities assumed or deemed assumed for U.S. federal Income Tax purposes
by CPLG in the Contribution and (z) initially ignore any payments to be made by LQ Parent or CPLG under Section 5.1(b). No later than twenty (20) Business Days after the receipt of such Estimated Statement, LQ Parent shall have a
right to object to such Estimated Statement by written notice to CPLG; such written notice shall contain such disputed item (or items) and the basis for its objection. The Parties shall act in good faith to resolve any such dispute as promptly as
practicable. If the Parties have not reached a final resolution with respect to all disputed items for which proper written notice was given within ten (10) Business Days of written notice being provided to CPLG, then any disputed issues shall
be submitted to a Big Four Accounting Firm mutually agreed upon by the Parties for a final binding resolution; provided that if no Big Four Accounting Firm is willing or able to resolve such disputed issues, such disputed issues shall be
submitted to a nationally recognized accounting firm mutually agreed upon by the Parties for a final binding resolution. The Parties shall cooperate in good faith to promptly update the estimated Contribution Taxes as otherwise determined pursuant
to this Section 5.1(a) to reflect any payments made under Section 3.7 of the Distribution Agreement; provided that in the event the Parties are not able to so agree upon such update, any disagreement shall be submitted to a Big Four
Accounting Firm (or a nationally recognized accounting firm, as applicable) in accordance with the procedures described in the previous sentence. 

(b) If (i) the Reserve Amount is greater than the estimated Contribution Taxes, LQ Parent will pay to CPLG an amount equal to the
difference between the Reserve Amount minus the estimated Contribution Taxes; and (ii) the Reserve Amount is less than the estimated Contribution Taxes, CPLG will pay to LQ Parent an amount equal to the difference between the estimated
Contribution Taxes minus the Reserve Amount. Any payments under this Section 5.1(b) or Section 3.7 of the Distribution Agreement shall be deemed to increase the amount recognized (in the case of payments by CPLG to LQ Parent) or decrease
the amount recognized (in the case of payments by LQ Parent to CPLG) for purposes of calculating the amount of Contribution Taxes, and additional amounts shall be paid by CPLG or LQ Parent (as the case may be) on an iterative basis (consistent with
assumptions described in clauses (i), (ii), (iii)(w), (iii)(x) and (iii)(y) of Section 5.1(a)) to reflect such increase or decrease in the amount of Contribution Taxes. For the avoidance of doubt, any Share Issuance pursuant to
Section 5.1(d) shall be deemed to have a value equal to the amount of the payment to be satisfied by CPLG with such Share Issuance. Following the date of the final determination of Contribution Taxes in accordance with Section 5.1(a)
(including, for the avoidance of doubt, the final sentence thereof) (the “Determination Date”), any payments required to be made under this Section 5.1(b) shall be made in accordance with Section 5.1(d). 

  
 12 

 (c) For the avoidance of doubt, unless otherwise provided in this Agreement, any obligation to
make a payment pursuant to Section 5.1(b) shall not be deemed to imply that a Party is responsible for any Taxes for purposes of Article VI or otherwise under this Agreement. 

(d) Any amounts required to be paid by LQ Parent to CPLG under Section 5.1(b) shall be paid to CPLG in cash within five (5) Business
Days of the Determination Date. Any amounts required to be paid by CPLG to LQ Parent under Section 5.1(b) shall be paid, at CPLG’s election, (i) in cash within five (5) Business Days of the Determination Date, or (ii) with
respect to all or any portion of such amount, in the form of a number of shares of CPLG Common Stock (rounded up to the nearest full share) equal to the product of (I) 1.05, multiplied by (II) the quotient of (A) the amount of such
required payment (or such portion thereof to be paid in shares) divided by (B) the arithmetic average of the per share volume weighted average price of shares of CPLG Common Stock on the primary securities exchange on which shares of CPLG
Common Stock are listed during the period beginning at 9:30 a.m., New York City time (or such other time as is the official open of trading on such exchange) and ending at 4:00 p.m., New York City time (or such other time as is the official close of
trading on such exchange), as obtained from Bloomberg L.P. or its successor, for the ten (10) consecutive trading day period ending on and including the trading day immediately prior to the Determination Date (the “Shares”, and
any such payment pursuant to this clause (ii), a “Share Issuance”, and the calculated per share volume weighed average price the “Issuance VWAP Value”). In the event that CPLG elects to make a Share Issuance, CPLG
shall, if requested in accordance with the Registration Rights Agreement (as defined below), use its reasonable best efforts to (i) prepare and file with the SEC, at CPLG’s expense, a resale registration statement for an offering to be
made pursuant to Rule 415 under the Securities Act on Form S-11 or, if CPLG is so eligible, on Form S-3 (or any successor rule or form thereto), or amend an existing
registration statement so that it is usable for the disposition of such Shares or (ii) file a prospectus supplement deemed to be a part of an existing registration statement in accordance with Rule 430B under the Securities Act that is usable
for the disposition of such Shares (as applicable, a “Registration Statement”), in each case subject to the terms and conditions set forth in a registration rights agreement between CPLG and LQ Parent in substantially the form
attached hereto as Exhibit A (the “Registration Rights Agreement”), and CPLG shall use its reasonable best efforts to cause such Registration Statement to be declared effective by the SEC or otherwise become effective under
the Securities Act as promptly as reasonably practicable after the filing thereof (the date upon which such Registration Statement becomes effective or, if later (in the event a suspension period commences prior to the Registration Statement
becoming effective and ends after the Registration Statement becoming Effective), the date on which use of such Registration Statement is no longer suspended, the “Effective Registration Date”). Within two (2) Business Days of
the Determination Date, CPLG shall deliver (or cause the delivery of) the Shares to be issued pursuant to such Share Issuance in book entry form to LQ Parent or to a custodian designated by LQ Parent, as applicable. Concurrently with or prior to
such delivery of Shares, LQ Parent and CPLG shall enter into the Registration Rights Agreement. All Shares (including, if applicable, the Supplemental Share Issuance referred to below) shall be free and clear of any Security Interest (as defined in
the Distribution Agreement) and subject to, and governed by, the Registration Rights Agreement. CPLG shall be responsible for any registration fees and expenses, listing fees or transfer agent fees with respect to the issuance of Shares in
accordance with this Section 5.1(d). 

  
 13 

 (e) At the Effective Registration Date, CPLG will (in good faith consultation with LQ Parent)
calculate the arithmetic average of the per share volume weighted average price of shares of CPLG Common Stock on the primary securities exchange on which shares of CPLG Common Stock are listed during the period beginning at 9:30 a.m., New York City
time (or such other time as is the official open of trading on such exchange) and ending at 4:00 p.m., New York City time (or such other time as is the official close of trading on such exchange), as obtained from Bloomberg L.P. or its successor,
for the ten (10) consecutive trading day period ending on and including the trading day immediately prior to the Effective Registration Date (the “Registration VWAP Value”). If the product of the Registration VWAP Value
multiplied by the number of shares of CPLG Common Stock issued as part of the Share Issuance is less than the product of the Issuance VWAP Value multiplied by the number of shares of CPLG Common Stock issued as part of the Share Issuance (such
difference, the “Valuation Shortfall”), CPLG will promptly (and in any event within two (2) Business Days), at CPLG’s election, either (i) pay to LQ Parent an amount in cash equal to the Valuation Shortfall, or
(ii) deliver (or cause the delivery of) in book entry form (to LQ Parent or to a custodian designated by LQ Parent, as applicable) to LQ Parent a number of shares of CPLG Common Stock (rounded up to the nearest full share) equal to the
Valuation Shortfall divided by the Registration VWAP Value (such shares the “Supplemental Share Issuance”). In the event that CPLG elects to make a Supplemental Share Issuance, CPLG shall use its reasonable best efforts to prepare
and file with the SEC, at CPLG’s expense, a Registration Statement with respect to the Shares issued in the Supplemental Share Issuance and CPLG shall use its reasonable best efforts to cause such Registration Statement to be declared effective
by the SEC or otherwise become effective under the Securities Act as promptly as reasonably practicable after the filing thereof and in any event no later than thirty (30) days after the Supplemental Share Issuance. Concurrently with or prior
to such delivery of the shares the subject of the Supplemental Share Issuance, LQ Parent and CPLG shall enter into the Registration Rights Agreement. 

Section 5.2. Consistency. Each Party shall file or prepare any Tax Return which it is responsible for filing or preparing under this
Agreement consistent with the Intended Tax Treatment unless otherwise required by a Final Determination. 
 Section 5.3.
Section 336(e) Election. LQ Parent and CPLG shall make an election under Section 336(e) of the Code (and any similar election under state or local law) with respect to the Distribution in accordance with Treasury
Regulation Section 1.336-2(h) (and any applicable provisions under state and local law), and the Parties shall cooperate in the timely completion and/or filings of such elections and any related filings
or procedures. This Section 5.3 is intended to constitute binding, written agreements to make an election under Section 336(e) of the Code with respect to the Distribution. 

  
 14 

 ARTICLE VI 

INDEMNIFICATION 
 Section
6.1. Indemnification Obligations of LQ Parent. LQ Parent shall indemnify CPLG and its Affiliates and hold the Indemnified Party harmless from and against (without duplication): 

(a) all Taxes and other amounts for which the LQ Parent Group is responsible under this Agreement and any related Losses; and 

(b) all Taxes and Losses attributable to a breach of any covenant or obligation of LQ Parent under this Agreement. 

Section 6.2. Indemnification Obligations of CPLG. CPLG shall indemnify LQ Parent and its Affiliates and hold the Indemnified Party
harmless from and against (without duplication): 
 (a) all Taxes and other amounts for which the CPLG Group is responsible under this
Agreement and any related Losses; and 
 (b) all Taxes and Losses attributable to a breach of any covenant or obligation of CPLG under this
Agreement. 
 Section 6.3. Protected REITs. Notwithstanding anything to the contrary in this Agreement, in the event that counsel or
independent accountants for a Protected REIT determine in writing that there exists a material risk that any indemnification payments due under this Agreement would be treated as Nonqualifying Income (or such indemnification payments would otherwise
affect the Protected REIT’s status as a REIT) upon the payment of such amounts to the relevant Indemnified Party, the amount paid to the Indemnified Party pursuant to this Agreement in any tax year shall not exceed the maximum amount that can
be paid to the Indemnified Party in such year without causing the Protected REIT to fail to meet the REIT Requirements for any tax year, determined as if the payment of such amount were Nonqualifying Income (or such indemnification payments would
otherwise affect the Protected REIT’s status as a REIT) as determined by such counsel or independent accountants to the Protected REIT. If the amount payable for any tax year pursuant to the preceding sentence is less than the amount which the
relevant Indemnifying Party would otherwise be obligated to pay to the relevant Indemnified Party pursuant to this Agreement (the “Expense Amount”), then: (1) the Indemnifying Party shall place the Expense Amount into an escrow
account (the “Escrow Account”) using an escrow agent and agreement reasonably acceptable to the Indemnified Party (which shall include that (y) the amount in the Escrow Account shall be treated as the property of the
Indemnifying Party, unless it is released from such Escrow Account to the Indemnified Party, and (z) (A) all income earned upon the amount in the Escrow Account shall be treated as the property of the Indemnifying Party and reported, as and to
the extent required by applicable Law, by the escrow agent to the IRS, or any other taxing authority, on IRS Form 1099 or 1042S (or other appropriate form) as income earned by the Indemnifying Party whether or not said income has been distributed
during such taxable year, and (B) the Indemnifying Party will be entitled to 

  
 15 

 
customary quarterly tax distributions with respect to any income earned on the Escrow Account, and the escrow agent shall not release any portion thereof to the Indemnified Party, and the
Indemnified Party shall not be entitled to any such amount, unless and until the Indemnified Party, at its own cost and expense, delivers to the Indemnifying Party, at the sole option of the relevant Protected REIT, (i) an opinion (an
“Expense Amount Tax Opinion”) of the Protected REIT’s tax counsel to the effect that such amount, if and to the extent paid, would not constitute Nonqualifying Income (or such amount would not otherwise affect the Protected
REIT’s status as a REIT), (ii) a letter (an “Expense Amount Accountant’s Letter”) from the Protected REIT’s independent accountants indicating the maximum portion of the Expense Amount that can be paid at that time to
the Indemnified Party without causing the Protected REIT to fail to meet the REIT Requirements for any relevant taxable year, or (iii) a private letter ruling issued by the IRS to the Protected REIT indicating that the receipt of any Expense
Amount hereunder will not cause the Protected REIT to fail to satisfy the REIT Requirements (a “REIT Qualification Ruling” and, collectively with an Expense Amount Tax Opinion and an Expense Amount Accountant’s Letter, a
“Release Document”); (2) pending the delivery of a Release Document by the Indemnified Party to the Indemnifying Party, the Indemnified Party shall have the right, but not the obligation, to borrow the Expense Amount from the Escrow
Account pursuant to a loan agreement reasonably acceptable to the Indemnified Party that (i) requires the Indemnifying Party to lend the Indemnified Party immediately available cash proceeds in an amount equal to the Expense Amount, and
(ii) provides for (A) a commercially reasonable interest rate and commercially reasonable covenants, taking into account the credit standing and profile of the Indemnified Party or any guarantor of the Indemnified Party, including the
Protected REIT, at the time of such loan, and (B) a fifteen (15) year maturity with no periodic amortization; and (3) the Indemnified Party shall bear all costs and expenses with respect to the escrow as contemplated by clauses
(1) and (2) in this Section 6.3. Except as otherwise provided for in this Section 6.3(c), all of the benefits of the Expense Amount will inure to the Indemnified Party and the Indemnified Party will bear (and indemnify the
Indemnifying Party for) all risk of loss relating to the Expense Amount. 
 ARTICLE VII 

PAYMENTS 
 Section 7.1.
Payments. 
 (a) General. In the event that an Indemnifying Party is required to make a payment to an Indemnified Party
pursuant to this Agreement, such payment shall be made to the Indemnified Party within the time prescribed for payment in this Agreement, or if no period is prescribed, within twenty (20) days after delivery of written notice of payment owing
together with a computation of the amounts due. If the Indemnifying Party fails to make a payment to the Indemnified Party within the time period set forth in this Section 7.1 or as otherwise provided in this Agreement, such Indemnifying Party
shall pay to the Indemnified Party interest that accrues (at a rate equal to LIBOR) on the amount of such payment from the time that such payment was due to the Indemnified Party until the date that payment is actually made to the Indemnified
Party; provided, however, that this provision for interest shall not be construed to give the Indemnifying Party the right to defer payment beyond the due date hereunder. 

  
 16 

 (b) Right of Setoff. It is expressly understood that an Indemnifying Party is hereby
authorized to set off and apply any and all amounts required to be paid to an Indemnified Party pursuant to this Section 7.1 against any and all of the obligations of the Indemnified Party to the Indemnifying Party arising under this
Section 7.1 that are then either due and payable or past due, irrespective of whether such Indemnifying Party has made any demand for payment with respect to such obligations. 

Section 7.2. Treatment of Payments Made Pursuant to Tax Matters Agreement. Unless otherwise required by a Final Determination or this
Agreement or otherwise agreed to by the Parties, for U.S. federal Tax purposes, any payment (other than payments of interest pursuant to Section 7.1(a)) made pursuant to this Agreement shall be treated by all Parties for all Tax purposes as a
purchase price adjustment to the Contribution. None of the Parties shall take any position inconsistent with such treatment unless required by a Final Determination. If a Taxing Authority asserts that a Party’s treatment of a payment pursuant
to this Agreement should be other than as required pursuant to this Agreement, such Party shall use its commercially reasonable efforts to contest such challenge. 

Section 7.3. Payments Net of Tax Benefit Actually Realized and Tax Cost. All amounts required to be paid by one Party to another
pursuant to this Agreement or the Distribution Agreement shall be reduced by the Tax Benefit Actually Realized by the Indemnified Party or its Affiliates in the taxable year the payment is made or any prior taxable year as a result of the claim
giving rise to the payment. If the receipt or accrual of any such payment (other than payments of interest pursuant to Section 10.12 of the Distribution Agreement or Section 7.1(a)) results in taxable income to the Indemnified Party or its
Affiliates, such payment shall be increased so that, after the payment of any Taxes with respect to the payment, the Indemnified Party or its Affiliates shall have realized the same net amount it would have realized had the payment not resulted in
taxable income; provided that the Parties acknowledge and agree that any amount paid from LQ Parent to CPLG or any of its Affiliates and treated as an adjustment to purchase price in accordance with Section 7.2 shall not be treated as
resulting in taxable income to CPLG or any of its Affiliates. Notwithstanding the foregoing, this Section 7.3 shall not apply to any payment made pursuant to Section 5.1(b). 

ARTICLE VIII 

AUDITS 
 Section 8.1.
Notice. Within twenty (20) Business Days after a Party or any of its Affiliates receives a written notice from a Taxing Authority of the existence of an Audit that may require indemnification pursuant to this Agreement, that Party shall
notify the other Party of such receipt and send such notice to the other Party via overnight mail. The failure of one Party to notify another Party of an Audit shall not relieve such other Party of any liability and/or obligation that it may have
under this Agreement, except to the extent that the Indemnifying Party’s rights under this Agreement are materially prejudiced by such failure. 

Section 8.2. Audits. 
 (a)
Determination of Administering Party. 

  
 17 

 (i) Subject to Sections 8.2(a), 8.2(b) and 8.2(c), LQ Parent shall administer and control
all Audits with respect to Tax Returns of members of the LQ Parent Group, all Audits with respect to Tax Returns of members of the LQ Parent Group or CPLG Group for Straddle Tax Periods, and all Audits with respect to Tax Returns of members of the
CPLG Group for any Pre-Distribution Tax Period. Except as provided in the previous sentence, CPLG shall administer and control all Audits with respect to Tax Returns of members of the CPLG Group. 

(ii) Notwithstanding anything to the contrary in this Section 8.2, CPLG shall administer and control all Audits addressed in Schedule A.

 (b) Administration and Control; Cooperation. 

(i) Subject to Section 8.2(c), the Audit Management Party shall have absolute authority to make all decisions (determined in its sole
discretion) with respect to the administration and control of such Audit (or portion thereof), including the selection of all external advisors. In that regard, the Audit Management Party (a) may in its sole discretion settle or otherwise
determine not to continue to contest any issue related to such Audit without the consent of the other Party, and (b) shall, as soon as reasonably practicable and prior to settlement of an issue that could cause the other Party to become
responsible for Taxes under Section 8.3, notify the Audit Representatives of the other Party of such settlement. The other Party shall (and shall cause its Subsidiaries to) undertake all actions and execute all documents (including an extension
of the applicable statute of limitations) that are determined in the sole discretion of the Audit Management Party to be necessary to effectuate such administration and control. Each Party shall act in good faith and use their reasonable best
efforts to cooperate fully with the other Party (and their Affiliates) in connection with such Audit and shall provide or cause their Subsidiaries to provide such information to each other as may be necessary or useful with respect to such Audit in
a timely manner, identify and provide access to potential witnesses, and other persons with knowledge and other information within its control and reasonably necessary to the resolution of the Audit. 

(c) Participation Rights of Parties and Information Sharing with respect to Audits. 

(i) Each Party that would be responsible under Section 8.3 for a material amount of Taxes directly resulting from an Audit (other than
the Audit Management Party) (a “Participating Party”) shall have the rights as set forth in this Section 8.2(c) with respect to such Audit. Upon the reasonable request of a Participating Party, the Audit Management Party shall
make available relevant personnel and external advisors to meet with the Participating Party and its independent auditor in order to review the status of the Audits. The Participating Party shall provide the Audit Management Party with reasonable
notice of such requested meetings or information. 
 (ii) The Participating Party shall have access to any written documentation in the
possession of the Audit Management Party that pertains to the Audit (including any written summaries of issues that the Audit Management Party has developed in the context of evaluating the financial reporting of the Audit); provided,
however, that if documentation was prepared solely by or on behalf of a Party, then the documentation must relate to the joint defense of the Audit. Copies of the documentation will be made available to the Participating Party at its sole
cost and expense. 

  
 18 

 (iii) The Participating Party may elect to employ separate counsel to advise the Participating
Party as additional counsel in or in connection with an Audit, but in that event, the fees and expenses of the separate counsel shall be paid solely by the Participating Party. The Audit Management Party shall in good faith consider all advice and
other input received from the Participating Party in connection with its consultations with respect to an Audit. However, the Audit Management Party shall retain the sole authority to make all Audit decisions. In that regard, the Participating Party
and its separate counsels shall not be allowed to participate in any Audit-related meetings other than those described in (i), (ii) or (iii) above, respond directly to a Taxing Authority conducting the Audit, or in any manner control resolution
of the Audit. Notwithstanding the foregoing, the Audit Management Party shall not settle, concede or resolve the Audit in a manner that would subject the Participating Party to any obligation to indemnify the Audit Management Party pursuant to this
Agreement, pay any amount of Tax, or bind the Participating Party to any agreement or Tax position with respect to a Post-Distribution Period without the prior written consent of the Participating Party, not to be unreasonably withheld, conditioned
or delayed. 
 (d) Power of Attorney/Officer Signature. Each Party hereby appoints (and shall cause its Subsidiaries to appoint) the
Audit Management Party (and its designated representatives) as its agent and attorney-in-fact to take the actions the Audit Management Party deems necessary or
appropriate to implement the responsibilities of the Audit Management Party under this Agreement. Each Party also shall (or shall cause its Subsidiaries to) execute and deliver to the Audit Management Party a power of attorney and such other
documents as are reasonably requested from time to time by the Audit Management Party (or its designee). 
 Section 8.3. Payment of Audit
Amounts. 
 (a) Except as set forth in Section 8.3(b) or (c), LQ Parent shall be liable for and shall pay or cause to be paid to the
applicable Taxing Authority (i) all Taxes owed in connection with any Audit of any Tax Return of each Party or any member of its Group for any Pre-Distribution Tax Period, (ii) all Taxes owed in
connection with any Audit of any Tax Return of LQ Parent or any member of its Group for any Straddle Tax Period or any Post-Distribution Tax Period, and (iii) the portion of any Taxes allocable to the period ending on the Distribution Date
(determined in accordance with Section 10.2) owed in connection with any Audit of any Tax Return of CPLG or any member of the CPLG Group for any Straddle Tax Period. Except as set forth in Section 8.3(c), CPLG shall be liable for and shall
pay or cause to be paid (A) the portion of any Taxes allocable to the period beginning after the Distribution Date (determined in accordance with Section 10.2) owed in connection with any Audit of any Tax Return of CPLG or any member of
its Group for any Straddle Tax Period, and (B) all Taxes owed in connection with any Tax Return of CPLG or any member of the CPLG Group for any Post-Distribution Tax Period. 

  
 19 

 (b) CPLG shall be liable for and shall pay or cause to be paid to the applicable Taxing Authority
any amount owed in connection with any Audit of any matter addressed in Schedule A. 
 (c) Third Party Indemnity Payments. Any benefit
or liability resulting from any Tax sharing, contractual indemnity agreements or similar agreements, written or unwritten, as between any of the Parties or their respective Subsidiaries, on the one hand, and any other third party, on the other hand
(other than the Distribution Agreement, this Agreement or any other Specified Ancillary Agreement) (“Tax Sharing Agreements”), shall remain the benefit or liability of such Party or its respective Subsidiary. No Party (or other
Indemnified Party) shall be entitled to indemnification under this Agreement in respect of Taxes to the extent such Party or one of its Subsidiaries is indemnified under any Tax Sharing Agreement, and the Parties shall (and shall cause their
Subsidiaries to) use commercially reasonable efforts to pursue any indemnification rights under any Tax Sharing Agreement if such indemnification would reduce the other Party’s responsibility for such Taxes under this Agreement. 

ARTICLE IX 

COOPERATION AND EXCHANGE OF INFORMATION 

Section 9.1. Cooperation and Exchange of Information. The Parties shall each cooperate fully (and each shall cause its respective
Subsidiaries to cooperate fully) and in a timely manner (considering the other Party’s normal internal processing or reporting requirements) with all reasonable requests in writing from another Party hereto, or from an agent, representative, or
advisor to such Party, in connection with the preparation and filing of Tax Returns, claims for refund, Audits, determinations of Tax Attributes and the calculation of Taxes or other amounts required to be paid hereunder, and any applicable
financial reporting requirements of a Party or its Affiliates, in each case, related or attributable to or arising in connection with Taxes or Tax Attributes of any of the Parties or their respective Subsidiaries covered by this Agreement. Such
cooperation shall include, without limitation: 
 (a) the retention until the expiration of the applicable statute of limitations or, if
later, until the expiration of all relevant Tax Attributes (in each case taking into account all waivers and extensions), and the provision upon request, of Tax Returns of the Parties and their respective Subsidiaries for periods up to and including
the Distribution Date, books, records (including information regarding ownership and Tax basis of property), documentation, and other information relating to such Tax Returns, including accompanying schedules, related work papers, and documents
relating to rulings or other determinations by Taxing Authorities; 
 (b) the execution of any document that may be necessary in connection
with any Audit of any of the Parties or their respective Subsidiaries, or the filing of a Tax Return or refund claim of the Parties or any of their respective Subsidiaries (including the signature of an officer of a Party or its Subsidiary); 

(c) the use of the Party’s reasonable efforts to obtain any documentation and provide additional facts as requested by another Party that
may be necessary in connection with any of the foregoing (including without limitation any information contained in Tax or other financial information databases); and 

  
 20 

 (d) the use of the Party’s reasonable efforts to obtain any Tax Returns (including
accompanying schedules, related work papers, and documents), documents, books, records, or other information that may be necessary in connection with the preparation of any Tax Returns of any of the Parties or their Affiliates. 

Each Party shall make its and its Subsidiaries’ employees and facilities available on a reasonable and mutually convenient basis in
connection with the foregoing matters. Except for costs and expenses otherwise allocated between the Parties pursuant to this Agreement, no reimbursement shall be made for costs and expenses incurred by the Parties as a result of cooperating
pursuant to this Section 9.1. 
 Notwithstanding the foregoing, no Party shall be required, pursuant to this Article IX, to share
any information or records relating to any Person other than the Parties and their applicable Subsidiaries, or to provide any such information regarding the Post-Distribution operation of the LQ Parent Retained Business or the Separated Real Estate
Business, as applicable. 
 Section 9.2. Retention of Records. Subject to Section 9.1, if any of the Parties or their respective
Subsidiaries intends to dispose of any documentation relating to the Taxes of the Parties or their respective Subsidiaries for which another Party to this Agreement may be responsible pursuant to the terms of this Agreement (including, without
limitation, Tax Returns, books, records, documentation, and other information, accompanying schedules, related work papers, and documents relating to rulings or other determinations by Taxing Authorities), such Party shall or shall cause written
notice to the other Parties describing the documentation to be destroyed or disposed of sixty (60) Business Days prior to taking such action. The other Parties may arrange to take delivery of the documentation described in the notice at their
expense during the succeeding sixty (60) Business Day period. 
 ARTICLE X 

ALLOCATION OF TAX ATTRIBUTES AND OTHER TAX MATTERS 

Section 10.1. Allocation of Tax Attributes. LQ Parent shall in good faith advise CPLG in writing of the portion, if any, of any Tax
Attributes, earnings and profits, or other consolidated, combined or unitary attribute that LQ Parent determines shall be allocated or apportioned to each Group under applicable Law; provided, however, that such determination shall be
made in a manner that is: (a) reasonably consistent with the past practices of the Parties; and (b) in accordance with the rules prescribed by applicable Law, including the Code and the Treasury Regulations. LQ Parent agrees to provide
CPLG with all of the information supporting the Tax Attribute and other determinations made by LQ Parent pursuant to this Section 10.1. 

Section 10.2. Allocation of Tax Items. All determinations for purposes of this Agreement regarding the allocation of Income Tax items
or items relating to Taxes based upon or related to receipts or occupancy or imposed in connection with any sale or other transfer or assignment of property between the portion of a Straddle Tax Period that ends on the 

  
 21 

 
Distribution Date and the portion that begins the day after the Distribution Date shall be made based on a closing of the books method under the principles of Treasury Regulation 1.1502-76 (and any similar rule under U.S. state, local or non-U.S. Law) as determined by LQ Parent, unless in each case the Parties agree in writing otherwise;
provided, however, any Taxes in respect of actions taken outside the ordinary course of business on the Distribution Date but after the Distribution that do not comply with the last sentence of this Section 10.2 shall be deemed to
arise the day after the Distribution. All determinations for purposes of this Agreement regarding the allocation of Tax items relating to Taxes not described in the sentence above (such as real or personal property Taxes) between the portion of a
Straddle Tax Period that ends on the Distribution Date and the portion that begins the day after the Distribution Date shall be made based on the number of days in each respective period, unless in each case the Parties agree otherwise. Except for
the transactions contemplated in the Plan of Reorganization, CPLG shall not (and shall not permit any member of its Group to) take any action outside the ordinary course of business on the Distribution Date but after the Distribution. 

ARTICLE XI 

DISPUTE RESOLUTION 

Section 11.1. Negotiation. In the event of a dispute arising out of or in connection with this Agreement (including its interpretation,
performance or validity) (collectively, “Agreement Disputes”), the senior tax officers of the Parties (or such other individuals designated thereby) shall negotiate for a maximum of 21 days (or a mutually-agreed extension) (such
period of days, the “Negotiation Period”) from the time of receipt by a Party of written notice of such Agreement Dispute. The Parties shall not assert the defenses of statute of limitations and laches for any delays arising due to
the procedures in Sections 11.1 or 11.2. 
 Section 11.2. Mediation. If the Parties have not timely resolved the Agreement Dispute
under Section 11.1, the Parties agree to submit the Agreement Dispute to mediation no later than 10 days following the end of the Negotiation Period, with such mediation to be conducted in accordance with the Mediation Procedure of the
International Institute for Conflict Prevention and Resolution (“CPR”). The Parties agree to bear equally the CPR and mediator’s costs for same. The Parties agree to participate in good faith in the mediation for a maximum of
14 days (or a mutually agreed extension). If the Parties have not timely resolved the Agreement Dispute pursuant to this Section 11.2, either Party may then bring an action in accordance with Sections 12.15 and 12.16 herein. 

Section 11.3. Confidentiality. All information and communications between the Parties relating to an Agreement Dispute and/or under the
procedures in Sections 11.1 and 11.2 shall be considered “Confidential Information” for which the provisions of Section 7.6 of the Distribution Agreement shall apply herein, mutatis mutandis. 

Section 11.4. Continuity of Performance. Unless otherwise agreed in writing, the Parties shall continue to perform under this Agreement
during the course of dispute resolution under this Article XI with respect to all matters not subject thereto. 

  
 22 

 ARTICLE XII 

MISCELLANEOUS 
 Section
12.1. Counterparts. This Agreement may be executed in more than one counterpart, all of which shall be considered one and the same agreement, and shall become effective when one or more such counterparts have been signed by each of the
Parties and delivered to the other Parties. 
 Section 12.2. Survival. Except as otherwise contemplated by this Agreement or the
Distribution Agreement, all covenants and agreements of the Parties contained in this Agreement shall survive the Distribution Date and remain in full force and effect in accordance with their applicable terms; provided, however, that
all indemnification for Taxes shall survive until ninety (90) days following the expiration of the statute of limitations applicable to the underlying Tax (taking into account all extensions thereof), if any, of the Tax that gave rise to the
indemnification; provided, further, that, if notice for indemnification has been given within the applicable survival period, such indemnification shall survive until such time as such claim is finally resolved. 

Section 12.3. Notices. All notices, requests, claims, demands, and other communications under this Agreement shall be in English, shall
be in writing and shall be given or made (and shall be deemed to have been duly given or made upon receipt) by delivery in person, by overnight courier service, by facsimile with receipt confirmed (followed by delivery of an original via overnight
courier service), by registered or certified mail (postage prepaid, return receipt requested) or by e-mail to the respective Parties at the following addresses (or at such other address for a Party as shall be
specified in a notice given in accordance with this Section 12.3): 
 To LQ Parent: 

La Quinta Holdings Inc. 
 909
Hidden Ridge, Suite 600 
 Irving, Texas 75038 

Attn: [•] 
 Email: [•]

 Phone: (214) 492-6600 

Facsimile: [•] 
 with a copy
(which shall not constitute notice) to: 
 Wyndham Hotel Group, LLC 

22 Sylvan Way Parsippany, NJ 07054 

Attn: Chief Operating Officer 

  
 23 

 Facsimile: (973) 753-6760 

- and - 
 Wyndham Hotel Group,
LLC 
 22 Sylvan Way Parsippany, NJ 07054 

Attn: General Counsel, Wyndham Hotel Group 

Facsimile: (973) 753-6760. 

To CPLG: 
 CorePoint Lodging
Inc. 
 909 Hidden Ridge, Suite 600 

Irving, Texas 75038 
 Attn:
[•] 
 Email: [•] 

Phone: (214) 492-6600 

Facsimile: [•]     

with a copy (which shall not constitute notice) to: 

[•] 
 [•] 

Attn: [•] 
 Email: [•]

 Phone: [•] 
 Facsimile:
[•] 
 Section 12.4. Waivers. Any consent required or permitted to be given by any Party to the other Parties under this
Agreement shall be in writing and signed by the Party giving such consent and shall be effective only against such Party (and its Group). Notwithstanding the foregoing, prior to the Effective Time, no waiver of any provision hereof or consent
required or permitted to be given by LQ Parent under this Agreement, or failure of LQ Parent to require performance by any CPLG or any member of its Group of any provision in this Agreement, shall be permitted without the prior written consent of
Buyer (not to be unreasonably withheld, conditioned or delayed). 
 Section 12.5. Assignment. This Agreement may not be assigned
without the express prior written consent of the other Parties and Buyer, and any attempted assignment, without such consents, will be null and void; provided, however, that this Agreement shall be assignable in whole in connection
with a merger or consolidation or the sale of all or substantially all the assets of a Party hereto so long as the resulting, surviving or transferee entity assumes all the obligations of the relevant Party hereto by operation of law or pursuant to
an agreement in form and substance reasonably satisfactory to the other Parties to this Agreement. 

  
 24 

 Section 12.6. Successors and Assigns. The provisions of this Agreement and the obligations
and rights hereunder shall be binding upon, inure to the benefit of and be enforceable by (and against) the Parties and their respective successors and permitted transferees and assigns. 

Section 12.7. Termination and Amendment. This Agreement (including indemnification obligations hereunder) may be terminated, modified
or amended and each Distribution may be amended, modified or abandoned at any time prior to the Effective Time by and in the sole discretion of LQ Parent without the approval of CPLG or the stockholders of LQ Parent; provided, that the prior written
consent of Buyer (not to be unreasonably withheld, conditioned or delayed) will be required for any termination, modification or amendment of this Agreement and/or any amendment, modification or abandonment of the Distribution. In the event of such
termination, no Party shall have any liability of any kind to any other Party or any other Person. After the Effective Time, this Agreement may not be terminated, modified or amended except by an agreement in writing signed by a duly authorized
representative of each of LQ Parent and CPLG. 
 Section 12.8. No Circumvention. The Parties agree not to directly or indirectly take
any actions, act in concert with any Person who takes an action, or cause or allow any member of any such Party’s Group to take any actions (including the failure to take a reasonable action), such that the resulting effect is to undermine
materially the effectiveness of any of the provisions of this Agreement. 
 Section 12.9. Subsidiaries. Each of the Parties shall
cause to be performed, and hereby guarantees the performance of, all actions, agreements and obligations set forth herein to be performed by any Subsidiary of such Party or by any entity that becomes a Subsidiary of such Party on and after the
Effective Time, to the extent such Subsidiary remains a Subsidiary of the applicable Party. 
 Section 12.10. Third Party
Beneficiaries. Except for Buyer (and any entity to which Buyer assigns its rights in accordance with Section 8.7 of the Merger Agreement), who is an intended third party beneficiary of this Agreement, this Agreement is solely for the
benefit of the Parties and should not be deemed to confer upon third parties any remedy, claim, liability, reimbursement, claim of action or other right in excess of those existing without reference to this Agreement. 

Section 12.11. Title and Headings. Titles and headings to sections herein are inserted for the convenience of reference only and are
not intended to be a part of or to affect the meaning or interpretation of this Agreement. 
 Section 12.12. Schedules. The Schedules
shall be construed with and as an integral part of this Agreement to the same extent as if the same had been set forth verbatim herein. 

Section 12.13. Specific Performance. In the event of any actual or threatened default in, or breach of, any of the terms, conditions
and provisions of this Agreement, the Party who is or is to be thereby aggrieved shall have the right to specific performance and injunctive or other equitable relief of its rights under this Agreement, in addition to any and all other rights 

  
 25 

 
and remedies at law or in equity, and all such rights and remedies shall be cumulative. The Parties agree that the remedies at law for any breach or threatened breach, including monetary damages,
may be inadequate compensation for any loss and that the Parties may be irreparably harmed as a result. Accordingly, any defense in any action for specific performance that a remedy at law would be adequate is waived. Any requirements for the
securing or posting of any bond with such remedy are waived by the Parties to this Agreement. 
 Section 12.14. Governing Law. This
Agreement shall be governed by and construed in accordance with the Laws of the State of Delaware without reference to any choice-of-law or conflicts of law principles
that would result in the application of the laws of a different jurisdiction. 
 Section 12.15. Consent to Jurisdiction. Each Party
irrevocably submits to the exclusive jurisdiction of (a) the Court of Chancery of the State of Delaware or (b) if such court does not have subject matter jurisdiction, any other state or federal court located within the County of New
Castle in the State of Delaware, to resolve any Agreement Dispute that is not resolved pursuant to Sections 12.1 or 12.2. Any judgment of such court may be enforced by any court of competent jurisdiction. Further, notwithstanding
Sections 12.1 and 12.2, either Party may apply to the above courts set forth in Section 12.15(a) and 12.15(b) above for a temporary restraining order or similar emergency relief during the process set forth in Sections 12.1 and 12.2.
Each of the Parties agrees that service by U.S. registered mail to such Party’s respective address set forth above shall be effective service of process for any of the above Actions and irrevocably and unconditionally waives any objection to
the laying of venue of any Action in accordance with this Section 12.15. Nothing in this Section 12.15 shall limit or restrict the Parties from agreeing to arbitrate any Agreement Dispute pursuant to mutually-agreed procedures. 

Section 12.16. Waiver of Jury Trial. EACH OF THE PARTIES HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT IT
MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY ACTION ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT, INCLUDING ANY AGREEMENT DISPUTE. 

Section 12.17. Interpretation. The Parties have participated jointly in the negotiation and drafting of this Agreement. This Agreement
shall be construed without regard to any presumption or rule requiring construction or interpretation against the party drafting or causing any instrument to be drafted. 

Section 12.18. Changes in Law. 

(a) Any reference to a provision of the Code, Treasury Regulations, or a Law of another jurisdiction shall include a reference to any
applicable successor provision or Law. 
 (b) If, due to any change in applicable Law or regulations or their interpretation by any court of
Law or other governing body having jurisdiction subsequent to the date hereof, performance of any provision of this Agreement or any transaction contemplated hereby shall become impracticable or impossible, the Parties hereto shall use their
commercially reasonable best efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such provision. 

  
 26 

 Section 12.19. Severability. If one or more of the provisions contained in this Agreement
should be held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein and therein shall not in any way be affected or impaired thereby. The Parties shall endeavor in
good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions, the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 

Section 12.20. Tax Sharing Agreements. All Tax sharing, indemnification and similar agreements, written or unwritten, as between one
Party or its Subsidiaries, on the one hand, and any other Party or its Subsidiaries, on the other hand (other than this Agreement, the Distribution Agreement any other Specified Ancillary Agreement or any agreement solely between LQ Parent and any
of its Subsidiaries), shall be or shall have been terminated as of the Distribution Date and, after the Distribution Date, none of the Parties (or their Subsidiaries) to any such Tax sharing, indemnification or similar agreement shall have any
further rights or obligations under any such agreement. 
 Section 12.21. Exclusivity. Except as specifically set forth herein or in
the Distribution Agreement or any other Specified Ancillary Agreement, all matters related to Taxes or Tax Returns of the Parties and their respective Subsidiaries shall be governed exclusively by this Agreement. In the event of a conflict between
this Agreement, the Distribution Agreement or any Specified Ancillary Agreement this Agreement shall govern and control. 
 Section 12.22.
No Waiver. No failure to exercise and no delay in exercising, on the part of any Party, any right, remedy, power or privilege hereunder shall operate as a waiver hereof or thereof; nor shall any single or partial exercise of any right,
remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. No waiver shall be effective unless it is in writing and is signed by the Party asserted to have
granted such waiver. 
 Section 12.23. No Duplication; No Double Recovery. Nothing in this Agreement is intended to confer to or
impose upon any Party a duplicative right, entitlement, obligation, or recovery with respect to any matter arising out of the same facts and circumstances. 

  
 27 

 IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed the day and year
first above written. 
  

	
	LA QUINTA HOLDINGS INC.
	
	  

	Name:
	Title:
	
	COREPOINT LODGING INC.
	
	  

	Name:
	Title:

 Schedule A 

1) Audits of any U.S. federal Income Tax Returns of La Quinta Corporation and BRE/LQ Operating Lessee Inc. for the 2010 through 2013 taxable years. 

2) Audits of any U.S. federal Income Tax Returns of La Quinta Corporation and BRE/LQ Operating Lessee Inc. for the period beginning January 1, 2014 and
ending April 14, 2014. 
 3) Audits of any U.S. federal Income Tax Returns for Lodge Holdco II L.L.C. for the period beginning January 1, 2014 and
ending April 14, 2014.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00281-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00281-of-00352.parquet"}]]