Document:

Amendment No. 1 to Employment Agreement

 Exhibit 10.2 
 AMENDMENT NO. 1 TO 
 EMPLOYMENT AGREEMENT 

This Amendment No. 1 to Employment Agreement (this “Amendment”), is executed as of March 22, 2011, by and
among Sunstone Hotel Investors, Inc., a Maryland corporation (“Sunstone”), Sunstone Hotel Partnership, LLC, a Delaware limited liability company (the “Operating Partnership”), and Kenneth E. Cruse (the
“Executive”). 
 WHEREAS, Sunstone, the Operating Partnership and the Executive are parties to an
Employment Agreement (the “Employment Agreement”), effective as of the Effective Date (as defined in the Employment Agreement; 
 WHEREAS, in connection with the departure of Sunstone’s Chief Executive Officer, the Executive was appointed as President and Chief Financial Officer, effective December 17, 2010, and
will cease to serve as Chief Financial Officer on or before April 4, 2011; 
 WHEREAS, of even date herewith,
Sunstone and the Operating Partnership have entered into an employment agreement with the Executive’s successor to the Chief Financial Officer position; and 
 WHEREAS, Sunstone, the Operating Partnership and the Executive desire to amend the Employment Agreement for the Executive’s continued service as President of Sunstone and the Operating
Partnership. 
 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are
acknowledged, the parties agree as follows: 
 1.     Position and Duties. 

(a)    Section 2(a)(i) of the Employment Agreement shall be deleted in its entirety and replaced
with the following: 
 “During the Employment Period, the Executive shall serve as President of Sunstone and the Operating
Partnership and shall perform such employment duties as are usual and customary for such position and such other duties as the Company shall from time to time reasonably assign to the Executive. The Executive shall report directly to the Executive
Chairman of Sunstone.” 
 2.    Compensation  

(a)     The first sentence of Section 2(b)(i) of the Employment Agreement shall be deleted in its
entirety and replaced with the following: 
 “Commencing January 1, 2011, the Executive shall receive a base salary
(the “Base Salary”) of Four Hundred Thousand Dollars ($400,000) per annum.” 

 (b)    The second sentence of Section 2(b)(ii) of
the Employment Agreement shall be deleted in its entirety and replaced with the following: 
 “The amount of any Annual
Bonus and the performance goals applicable to such Annual Bonus for the relevant year shall be determined in accordance with the terms and conditions of said bonus plan as in effect from time to time with the following award levels:
(1) threshold equal to 75% of Base Salary; (2) target equal to 150% of Base Salary (“Target Annual Bonus”); (3) high equal to 200% of Base Salary; and (4) superior (maximum) equal to 225% of Base Salary;
provided, however, that no minimum bonus is guaranteed and any bonus may equal zero in any given year.” 
 (c)    The second sentence of Section 2(b)(iii) of the Employment Agreement shall be deleted in its entirety and replaced with the following: 

“The form, amount and terms of equity awards, if any, shall be determined by the Compensation Committee in accordance with the terms
and conditions of plans as in effect from time to time with the following award levels: (1) threshold equal to 150% of Base Salary; (2) target equal to 225% of Base Salary; (3) high equal to 300% of Base Salary; and (4) superior
(maximum) equal to 350% of Base Salary; provided, however, that no minimum equity award is guaranteed and any award may equal zero in any given year. Any such grants shall be evidenced in the form equity award agreements customarily
utilized by the Company for its senior executives.” 
 3.    Effect on Employment Agreement. The
terms of the Employment Agreement not modified by this Amendment will remain in force and are not affected by this Amendment. 

4.    Miscellaneous. This Amendment will be governed and construed in accordance with the laws of the State of
California, without reference to principles of conflict of laws. Capitalized terms used but not defined in this Amendment shall have the meanings ascribed to them in the Employment Agreement. 

[Signatures appear on next page.] 

  
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 IN WITNESS WHEREOF, the parties have executed this Amendment as of the date first
written above. 
  

							
	EXECUTIVE:	 		 	 SUNSTONE HOTEL INVESTORS, INC.,
 a Maryland corporation

				
	/s/ Kenneth E. Cruse	 		 	By:	 	/s/ Robert A. Alter
	Kenneth E. Cruse	 		 		 	Name: Robert A. Alter
		 		 		 	Its: Executive Chairman

  

							
		 		 	 SUNSTONE HOTEL PARTNERSHIP, LLC,
 a Delaware limited liability company

				
		 		 	By:	 	Sunstone Hotel Investors, Inc.
		 		 		 	Its: Managing Member

  

											
						
		 		 		 		 	By:	 	/s/ Robert A. Alter
		 		 		 		 		 	Name: Robert A. Alter
		 		 		 		 		 	Its: Executive Chairman

  
 3Form of Restricted Stock Unit Award Agreement, Time-Based Awards

 Exhibit 10.1 
 RESTRICTED STOCK UNIT AWARD AGREEMENT 
 (<Year of Grant>
Time-Based Award) 
 This Agreement (“Agreement”) is made this <Grant Date> by and between <Participant
Name> (“Participant”) and The Progressive Corporation (the “Company”). 
 1. Definitions. Unless
otherwise defined in this Agreement, each capitalized term in this Agreement shall have the meaning given to it in The Progressive Corporation 2010 Equity Incentive Plan, as amended (collectively, the “Plan”). 

2. Award of Restricted Stock Units. The Company grants to Participant an award (the “Award”) consisting of <# of
Units> restricted stock units (the “Restricted Stock Units” or “Units”), pursuant and subject to the Plan. 
 3. Condition to Participant’s Rights under this Agreement. This Agreement shall not become effective, and Participant shall have no rights with respect to the Award or the Restricted Stock
Units, unless and until Participant has fully executed this Agreement and delivered it to the Company. In the Company’s discretion, such execution and delivery may be accomplished through electronic means. 

4. Restrictions; Vesting. Subject to the terms and conditions of the Plan and this Agreement, Participant’s rights in and to
the Units shall vest, if at all, according to the following schedule: 
 a. One-third of the Units shall vest on
<Vesting Date>; 
 b. One-third of the Units shall vest on <Vesting Date>; and 

c. One-third of the Units shall vest on <Vesting Date>. 

The Restricted Stock Units awarded under this Agreement shall vest in accordance with the schedule set forth above unless, prior to the
vesting date set forth above, the Award and the applicable Units are forfeited or have become subject to accelerated vesting under the terms and conditions of the Plan. 
 5. Dividend Equivalents. Subject to this Paragraph 5, Participant shall be credited with Dividend Equivalents with respect to outstanding Restricted Stock Units prior to the applicable vesting
date, including any Units resulting from prior reinvestments of Dividend Equivalents as provided in this Paragraph. All Dividend Equivalents so credited will be deemed to be reinvested in Restricted Stock Units on the date that the applicable
dividend or distribution is made to the Company’s shareholders, in the number of Units determined by dividing the value of the Dividend Equivalents by the Fair Market Value of the Company’s Stock on such date (rounded to the nearest
thousandth of a whole Unit or as otherwise reasonably determined by the Company); provided, however, that if Dividend Equivalents cannot be reinvested in Units due to the operation of Section 3(a) of the Plan, such Dividend Equivalents will be
credited to Participant as a cash value, which shall be held by the Company (without interest) subject hereto. The Units and, if applicable, cash value resulting from the reinvestment of such Dividend Equivalents shall be subject to the same terms
and conditions, and shall vest or be forfeited (if applicable) at the same time, as the Restricted Stock Units to which they relate. 
 6. Units Non-Transferable. No Restricted Stock Units (and no Dividend Equivalents credited hereunder) shall be transferable by Participant other than by will or by the laws of descent and

 
distribution, and then only in accordance with the Plan. In the event any Award is transferred or assigned pursuant to a court order, such transfer or assignment shall be without liability to the
Company, and the Company shall have the right to offset against such Award any expenses (including attorneys’ fees) incurred by the Company in connection with such transfer or assignment. 

7. Executive Deferred Compensation Plan. If Participant is eligible, and has made the appropriate election, to defer the Award
into The Progressive Corporation Executive Deferred Compensation Plan (the “Deferral Plan”), at the time of vesting, the Restricted Stock Units that would otherwise vest under this Agreement shall be considered to be deferred pursuant to
the Deferral Plan, subject to and in accordance with the terms and conditions of the Deferral Plan and any related deferral agreement. 
 8. Termination of Employment. Except as otherwise provided in the Plan or as determined by the Committee, if Participant’s employment with the Company is terminated for any reason other than
death or Qualified Retirement, the Award and all applicable Restricted Stock Units held by Participant that are unvested or subject to restriction at the time of such termination shall be forfeited automatically. 

9. Distribution at Vesting. Subject to the provisions of the Plan and this Agreement, upon vesting of all or part of the Award,
the Company shall distribute to the Participant one share of the Company’s Stock in exchange for each such vested Restricted Stock Unit, and the applicable Restricted Stock Units shall be cancelled. Unless determined otherwise by the Company at
any time prior to the applicable distribution, each fractional Restricted Stock Unit shall vest and be settled in an equal fraction of a share of the Company’s Stock. 
 10. Taxes. No later than the date as of which an amount relating to the Award first becomes taxable, Participant shall pay to the Company, or make arrangements satisfactory to the Committee
regarding the payment of, any federal, state and local taxes and other items of any kind required by law to be withheld with respect to such amount. The obligations of the Company under the Plan shall be conditional on such payment or arrangements
and the Company and its Subsidiaries and Affiliates, to the extent permitted by law, shall have the right to deduct any such taxes from any payment of any kind otherwise due to Participant. At vesting, Restricted Stock Units awarded under this
Agreement will be valued at the Fair Market Value of the Company’s Stock on such date. 
 Participant must satisfy the
minimum statutory tax withholding obligations resulting from the vesting of Restricted Stock Units (“Minimum Withholding Obligations”) either (a) by surrendering to the Company Restricted Stock Units that are then vesting with a value
sufficient to satisfy the Minimum Withholding Obligations, or (b) by paying to the Company the appropriate amount in cash or, if acceptable to the Company, by check or other instrument. Unless Participant advises the Company of his or her
election to use an alternative payment method, Participant shall be deemed to have elected to surrender to the Company Restricted Stock Units that are then vesting with a value sufficient to satisfy the Minimum Withholding Obligations. If
Participant requests that the Company withhold taxes in addition to the Minimum Withholding Obligations, such additional withholding must be satisfied by Participant either (x) by paying to the Company the appropriate amount in cash or, if
acceptable to the Company, by check or other instrument, or (y) provided that Participant has obtained the approval of either the Company or the Committee (as required under rules adopted by the Committee) prior to the date of vesting, by
surrendering unrestricted shares of the Company’s Stock that are not being distributed to Participant as a result of the vesting event and that have then been owned by Participant in unrestricted form for more than six (6) months.

 Under no circumstances will Participant be entitled to satisfy any such additional withholding by surrendering Restricted
Stock Units, shares of the Company’s Stock that are being distributed to 

  
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Participant as a result of the vesting event, or other shares of Stock that have then been owned by Participant in unrestricted form for six (6) months or less. In addition, under no
circumstances will Participant be entitled to satisfy any Minimum Withholding Obligations or additional withholding by surrendering Restricted Stock Units that are not then vesting or any Restricted Stock Units that Participant has elected to defer
under Paragraph 7 above. All payments, surrenders of Units or shares, elections or requests for approval must be made by Participant in accordance with such procedures as may be adopted by the Company in connection therewith, and subject to such
rules as have been or may be adopted by the Committee. 
 11. Non-Solicitation. In consideration of the Award made to
Participant under this Agreement, for a period of twelve (12) months immediately following Participant’s “Separation Date” (defined below), Participant shall not directly or indirectly recruit or solicit for hire, or hire, or
assist in any manner in the recruitment, solicitation for hire or hiring, of any employee or officer of the Company or its Subsidiaries, or in any way induce any such employee or officer to terminate his or her employment with the Company or any of
its Subsidiaries. For purposes of this Paragraph, “Separation Date” means the date on which Participant’s employment with the Company or its subsidiaries is terminated for any reason. 

12. Entire Agreement. This Agreement constitutes the entire agreement between the parties and supersedes and cancels any other
agreement, representation or communication, whether oral or in writing, between the parties relating to the Award, provided that the Agreement shall be at all times subject to the Plan. 

13. Amendment. The Committee, in its sole discretion, may amend the terms of this Award, but no such amendment shall be made that
would impair the rights of Participant, without Participant’s consent. 
 14. Acknowledgments. Participant:
(i) acknowledges receiving a copy of the Plan Description relating to the Plan, and represents that he or she is familiar with all of the material provisions of the Plan, as set forth in such Plan Description; (ii) accepts this Agreement
and the Award subject to all provisions of the Plan and this Agreement; and (iii) agrees to accept as binding, conclusive and final all decisions and interpretations of the Committee relating to the Plan, this Agreement or the Award.

 Participant evidences his or her agreement with the terms and conditions of this Agreement, and his or her intention to be
bound by this Agreement, by electronically accepting the Award pursuant to the procedures adopted by the Company. Upon such acceptance by Participant, this Agreement will be immediately binding and enforceable against Participant and the
Company. 
  

			
	THE PROGRESSIVE CORPORATION
		
	By:	 	 /s/ Charles E. Jarrett

		 	     Vice President & Secretary

  
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