Document:

EX-10.1

 Exhibit 10.1 

EXECUTION VERSION 
 THIRD
AMENDMENT TO CREDIT AGREEMENT 
 THIRD AMENDMENT, dated as of May 22, 2018 (this “Amendment”), to the Credit
Agreement, dated as of August 30, 2016 (as amended by the First Amendment to Credit Agreement, dated as of March 1, 2017 (the “First Amendment”) and by the Second Amendment to Credit Agreement dated as of November 21,
2017 (the “Second Amendment”) and as further amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among ESH Hospitality, Inc. (the “Borrower”), the other
Guarantors party thereto from time to time, the lenders party thereto from time to time (the “Lenders”) and Deutsche Bank AG New York Branch, as administrative agent (in such capacity, the “Administrative
Agent”), collateral agent and L/C Issuer. 
 W I T N E S S E T
H: 
 WHEREAS, pursuant to the Credit Agreement, the Lenders have agreed to make, and have made, certain loans and other extensions
of credit to the Borrower; 
 WHEREAS, the Borrower has requested that the outstanding Initial Term Loans (including, for the avoidance of
doubt, the Second Repriced Term Loans made or continued pursuant to the Second Amendment) be refinanced with a new term facility (the “Refinancing Term Facility”) in accordance with Section 2.15 of the
Credit Agreement by obtaining Repriced Term Commitments (as defined in Section 4 of this Amendment) and having existing Initial Term Loans be continued as provided herein; 

WHEREAS, the loans under the Refinancing Term Facility (the “Third Repriced Term Loans”) will replace and refinance the
currently outstanding Initial Term Loans; 
 WHEREAS, except as otherwise provided herein, the Third Repriced Term Loans will have the same
terms as the Initial Term Loans currently outstanding under the Credit Agreement; 
 WHEREAS, each existing Term Lender that executes and
delivers a Lender Addendum (Cashless Roll) attached hereto (a “Lender Addendum (Cashless Roll)”) and in connection therewith agrees to continue all of its outstanding Initial Term Loans as Third Repriced Term Loans (such continued
Initial Term Loans, the “Continued Term Loans”, and such Lenders, collectively, the “Continuing Term Lenders”) will thereby (i) agree to the terms of this Amendment and (ii) agree to continue all of its
existing Initial Term Loans (such existing Initial Term Loans, the “Existing Term Loans”, and the Lenders of such Existing Term Loans, collectively, the “Existing Term Lenders”) outstanding on the Third Amendment
Effective Date (as defined below) as Third Repriced Term Loans in a principal amount equal to the aggregate principal amount of such Existing Term Loans so continued (or such lesser amount as notified to such Lender by the Administrative Agent prior
to the Third Amendment Effective Date); 
 WHEREAS, subject to the preceding recitals, each Person (other than a Continuing Term Lender in
its capacity as such) that executes and delivers a Lender Addendum (Additional Term Lender) attached hereto (a “Lender Addendum (Additional Term Lender)” 

 
and, together with a Lender Addendum (Cashless Roll), a “Lender Addendum”) and agrees in connection therewith to make Third Repriced Term Loans (collectively, the
“Additional Term Lenders”) will thereby (i) agree to the terms of this Amendment and (ii) commit to make Third Repriced Term Loans to the Borrower on the Third Amendment Effective Date (the “Additional Term
Loans”) in such amount (not in excess of any such commitment) as is determined by the Administrative Agent and notified to such Additional Term Lender; 

WHEREAS, the proceeds of the Additional Term Loans will be used by the Borrower to repay in full the outstanding principal amount of the
Existing Term Loans that are not continued as Third Repriced Term Loans by Continuing Term Lenders; 
 WHEREAS, the Continuing Term Lenders
and the Additional Term Lenders (collectively, the “Repriced Term Lenders”) are severally willing to continue their Existing Term Loans as Third Repriced Term Loans and/or to make Third Repriced Term Loans, as the case may be,
subject to the terms and conditions set forth in this Amendment; 
 WHEREAS, Section 2.15(d) of the Credit
Agreement permits the Borrower to amend the Credit Agreement and other Loan Documents with the written consent of the Administrative Agent and the Repriced Term Lenders (i) to refinance the Existing Term Loans with the proceeds of the Third
Repriced Term Loans, which constitute Refinancing Term Loans under the Credit Agreement and (ii) to effect such other amendments to the Credit Agreement and the other Loan Documents as may be necessary or appropriate, in the reasonable opinion
of the Administrative Agent and the Borrower, to effect the provisions of Section 2.15 of the Credit Agreement; and 

WHEREAS, the Borrower, the Repriced Term Lenders and the Administrative Agent are willing to agree to this Amendment on the terms set forth
herein; 
 NOW THEREFORE, in consideration of the premises and mutual covenants hereinafter set forth, the parties hereto agree as follows:

 SECTION 1. Definitions. Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the
meanings given to them in the Credit Agreement. 
 SECTION 2. Amendments to Article I of the Credit Agreement.
Section 1.01 of the Credit Agreement is hereby amended as follows: 
 (a) The following definitions are hereby
added in the appropriate alphabetical order to Section 1.01: 
 “Third Amendment” means the Third
Amendment to this Agreement, dated as of the Third Amendment Effective Date. 
 “Third Amendment Effective Date” means
May 22, 2017. 

  
 2 

 “Third Repriced Term Loans” has the meaning assigned to such term in the
Third Amendment. 
 (b) Clause (a) of the definition of “Applicable Rate” is hereby amended and restated in its entirety as
follows: 
 with respect to the Initial Term Loans, a percentage per annum which is applicable at such time by reference to
the then applicable Rating Level Period as set forth in the pricing schedule immediately below: 
  

							
	 Applicable Rate

	 Eurocurrency Rate

Loans
 Level 2
Period
	  	 Base Rate Loans

Level 2 Period
	  	 Eurocurrency Rate

Loans
 Level 1
Period
	  	 Base Rate Loans

Level 1 Period

	 2.00%
	  	1.00%	  	1.75%	  	0.75%

 Each change in the Applicable Rate resulting from a Rating Level Change shall be effective commencing on the
effective date of such Rating Level Change. 
 (c) The definition of “Initial Term Commitment” is hereby amended and restated in
its entirety as follows: 
 “Initial Term Commitment” means, as to each Term Lender, its obligation: (i) prior to the
First Amendment Effective Date, to make an Initial Term Loan to the Borrower pursuant to Section 2.01(a) on the Closing Date in an aggregate amount not to exceed the amount set forth opposite such Term Lender’s name in
Schedule 1.01A under the caption “Initial Term Commitment” or in the Assignment and Assumption pursuant to which such Term Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance
with this Agreement (including Section 2.14), (ii) on or after the First Amendment Effective Date but prior to the Second Amendment Effective Date, (a) to continue its Existing Term Loans (as defined in the First
Amendment) as a Repriced Term Loan or (b) to make a Repriced Term Loan in the amount provided for in the First Amendment or in the Assignment and Assumption pursuant to which such Term Lender becomes a party hereto, as applicable, as such
amount may be adjusted from time to time in accordance with this Agreement (including Section 2.14); or (iii) on or after the Second Amendment Effective Date but prior to the Third Amendment Effective Date, (a) to
continue its Existing Term Loans (as defined in the Second Amendment) as a Second Repriced Term Loan or (b) to make a Second Repriced Term Loan in the amount provided for in the Second Amendment or in the Assignment and Assumption pursuant to
which such Term Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement (including Section 2.14) or (iv) on or after the Third Amendment
Effective Date, (a) to continue its Existing Term Loans (as defined in the Third Amendment) as a Third Repriced Term Loan or (b) to make a Third Repriced Term Loan in the amount provided for in the Third Amendment or in the Assignment and
Assumption pursuant to which such 

  
 3 

 
Term Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement (including Section 2.14). The
aggregate amount of the Initial Term Commitments on, and after giving effect to, the Third Amendment Effective Date is $1,220,747,297.02. 

(d) The definition of “Initial Term Loans” is hereby amended and restated in its entirety as follows: 

“Initial Term Loans” means (i) prior to the First Amendment Effective Date, the term loans made by the Lenders on the
Closing Date to the Borrower pursuant to Section 2.01(a), (ii) on and after the First Amendment Effective Date but prior to the Second Amendment Effective Date, any Repriced Term Loans made or continued pursuant to the
First Amendment, (iii) on and after the Second Amendment Effective Date but prior to the Third Amendment Effective Date, any Second Repriced Term Loans made or continued pursuant to the Second Amendment or (iv) on and after the Third
Amendment Effective Date, any Third Repriced Term Loans made or continued pursuant to the Third Amendment. 
 (e) The definition of
“Rating Level Period” is hereby amended and restated in its entirety as follows: 
 “Rating Level Period” means,
as of any period, the level set forth below as then in effect, as determined in accordance with the following provisions of this definition: 

“Level 1 Period” means a period during which the Borrower maintains a public corporate family rating
better than or equal to BB (with stable or better outlook) from S&P and a public corporate family rating better than or equal to Ba3 (with stable or better outlook) from Moody’s. 

“Level 2 Period” means each period other than a Level 1 Period, and shall include each period during
which either Moody’s or S&P shall not have in effect a rating (other than because either such rating agency shall no longer be in the business of rating corporate debt obligations). 

For purposes of the forgoing, if only one of Moody’s and S&P shall have in effect a rating, the Rating Level Period shall be
determined to be the Level 2 Period. 
 (f) The definition of “Responsible Officer” is hereby amended by replacing the phrase
“any document delivered on the Closing Date, the First Amendment Effective Date, or the Second Amendment Effective Date” where used therein with the phrase “any document delivered on the Closing Date, the First Amendment Effective
Date, the Second Amendment Effective Date, or the Third Amendment Effective Date”. 

  
 4 

 SECTION 3. Amendments to Article II of the Credit Agreement. 

(a) Section 2.01(a) of the Credit Agreement is hereby amended as of the Third Amendment Effective Date by adding the following sentence
at the end of Section 2.01(a): 
 “Following the making or continuation thereof, as applicable, on the Third
Amendment Effective Date, the Third Repriced Term Loans shall constitute Initial Term Loans and Term Loans, as applicable, in all respects.” 

(b) Section 2.05(a)(iv) of the Credit Agreement is hereby amended as of the Third Amendment Effective Date by replacing the phrase
“six months after the Second Amendment Effective Date” in each place where used therein with the phrase “six months after the Third Amendment Effective Date”. 

(c) Section 2.06(b) of the Credit Agreement is hereby amended as of the Third Amendment Effective Date by replacing the phrase
“the Closing Date, the First Amendment Effective Date or the Second Amendment Effective Date, as applicable” where used therein with the phrase “the Closing Date, the First Amendment Effective Date, the Second Amendment Effective Date
or the Third Amendment Effective Date, as applicable”. 
 (d) Clause (i) of Section 2.07(a) of
the Credit Agreement is hereby amended and restated as of the Third Amendment Effective Date in its entirety as follows: 
 “on the last
Business Day of each March, June, September and December, commencing with the first quarter after the Third Amendment Effective Date, an aggregate principal amount equal to 0.25% of the aggregate principal amount of all Initial Term Loans
outstanding on the Third Amendment Effective Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05) and”. 

SECTION 4. Third Repriced Term Loans. 

(a) Subject to the terms and conditions set forth herein (i) each Continuing Term Lender agrees to continue all (or such lesser amount as
notified to such Lender by the Administrative Agent prior to the Third Amendment Effective Date) of its Existing Term Loans as a Third Repriced Term Loan on the Third Amendment Effective Date in a principal amount equal to such Continuing Term
Lender’s Repriced Term Commitment (as defined below); and (ii) each Additional Term Lender agrees to make a Third Repriced Term Loan on such date to the Borrower in a principal amount equal to such Additional Term Lender’s Repriced
Term Commitment. For purposes hereof, a Person shall become a party to the Credit Agreement as amended hereby and a Repriced Term Lender as of the Third Amendment Effective Date by executing and delivering to the Administrative Agent, on or prior to
the Third Amendment Effective Date, a Lender Addendum (Additional Term Lender) in its capacity as a Repriced Term Lender. For the avoidance of doubt, the Existing Term Loans of a Continuing Term Lender must be continued in whole and may not be
continued in part unless approved by the Administrative Agent. 
 (b) Each Additional Term Lender will make its Third Repriced Term Loan on
the Third Amendment Effective Date by making available to the Administrative Agent, in the 

  
 5 

 
manner contemplated by Section 2.02 of the Credit Agreement, an amount equal to its Repriced Term Commitment. The “Repriced Term Commitment” (i) of any
Continuing Term Lender will be the amount of its Existing Term Loans as set forth in the Register as of the Third Amendment Effective Date (or such lesser amount as notified to such Lender by the Administrative Agent prior to the Third Amendment
Effective Date), which shall be continued as an equal amount of Third Repriced Term Loans, and (ii) of any Additional Term Lender will be such amount (not exceeding any commitment offered by such Additional Term Lender) allocated to it by the
Administrative Agent and notified to it on or prior to the Third Amendment Effective Date. The commitments of the Additional Term Lenders and the continuation undertakings of the Continuing Term Lenders are several, and no such Lender will be
responsible for any other such Lender’s failure to make or acquire by continuation its Third Repriced Term Loan. The Third Repriced Term Loans may from time to time be Base Rate Loans or Eurocurrency Rate Loans, as determined by the Borrower
and notified to the Administrative Agent as contemplated by Section 2.02 of the Credit Agreement. The Lenders having Existing Term Loans that are prepaid in connection with the making of the Third Repriced Term Loans shall
be entitled to the benefits of Section 3.05 of the Credit Agreement with respect thereto. The Continuing Term Lenders hereby waive the benefits of Section 3.05 of the Credit Agreement with respect
to the continuation of the Continued Term Loans pursuant to this Agreement. 
 (c) The obligation of each Repriced Term Lender to make or
acquire by continuation Third Repriced Term Loans on the Third Amendment Effective Date is subject to the satisfaction of the conditions set forth in Section 5 of this Amendment. 

(d) On and after the Third Amendment Effective Date, each reference in the Credit Agreement to “Initial Term Loans” shall be deemed
a reference to the Third Repriced Term Loans contemplated hereby, except as the context may otherwise require. Notwithstanding the foregoing (but except as set forth in Section 4(b) above), the provisions of the Credit
Agreement with respect to indemnification, reimbursement of costs and expenses, increased costs and break funding payments shall continue in full force and effect with respect to, and for the benefit of, each Existing Term Lender in respect of such
Lender’s Existing Term Loans to the same extent expressly set forth therein. 
 (e) The continuation of Continued Term Loans may be
implemented pursuant to other procedures specified by the Administrative Agent, including by repayment of Continued Term Loans of a Continuing Term Lender followed by a subsequent assignment to it of Third Repriced Term Loans in the same amount.

 (f) For the avoidance of doubt, the Lenders hereby acknowledge and agree that, at the sole option of the Administrative Agent, any Lender
with Existing Term Loans that are prepaid as contemplated hereby shall, automatically upon receipt of the amount necessary to purchase such Lender’s Existing Term Loans so replaced, at par, and pay all accrued interest thereon, be deemed to
have assigned such Loans pursuant to a form of Assignment and Assumption and, accordingly, no other action by the Lenders, the Administrative Agent or the Loan Parties shall be required in connection therewith. The Lenders hereby agree to waive the
notice requirements of Sections 2.05(a)(i) of the Credit Agreement in connection with the prepayment or replacement of Existing Term Loans contemplated hereby. 

  
 6 

 SECTION 5. Effectiveness. The effectiveness of this Amendment and the obligations of each
Repriced Term Lender hereunder are subject to the satisfaction of the following conditions precedent, except as otherwise agreed between the Borrower and the Administrative Agent (the day on which such conditions are satisfied or waived is herein
referred to as the “Third Amendment Effective Date”): 
 (a) The Administrative Agent’s receipt of the following, each
of which shall be originals or .pdf copies or other facsimiles (followed promptly by originals) unless otherwise specified, each properly executed by a Responsible Officer of the signing Loan Party each in form and substance reasonably satisfactory
to the Administrative Agent and its legal counsel: 
 (i) executed counterparts of this Amendment; 

(ii) executed Lender Addenda by the Continuing Lenders and the Additional Term Lenders; 

(iii) such certificates of good standing (to the extent such concept exists) from the applicable secretary of state of the
state of organization of each Loan Party, certificates of resolutions or other action, incumbency certificates and/or other certificates of Responsible Officers of each Loan Party (including a certificate attaching the Organization Documents of each
Loan Party) as the Administrative Agent may reasonably require evidencing the identity, authority and capacity of each Responsible Officer thereof authorized to act as a Responsible Officer in connection with this Amendment; 

(iv) an opinion from Fried, Frank, Harris, Shriver & Jacobson LLP, New York counsel to the Loan Parties; and 

(v) a solvency certificate from the chief financial officer, chief accounting officer or other officer with equivalent duties
of the Borrower (after giving effect to the Third Repriced Term Loans) substantially in the form delivered on the Closing Date. 
 (b) All
fees and expenses due to the Administrative Agent required to be paid on the Third Amendment Effective Date shall have been paid. 
 (c) The
Administrative Agent shall have received at least three Business Days prior to the Third Amendment Effective Date all documentation and other information about the Borrower and the Guarantors required under applicable “know your customer”
and anti-money laundering rules and regulations, including the USA PATRIOT Act that has been requested by the Administrative Agent in writing at least 10 days prior to the Third Amendment Effective Date. 

(d) The conditions set forth in Section 4.02 of the Credit Agreement shall have been satisfied as of the Third Amendment Effective Date
and the Administrative Agent shall have received a certificate, dated the Third Amendment Effective Date and signed by a Responsible Officer of the Borrower, confirming satisfaction of the conditions set forth in Sections 4.02(i) and
4.02(ii) of the Credit Agreement. 

  
 7 

 Without limiting the generality of the provisions of Section 9.03(b) of the Credit
Agreement for purposes of determining compliance with the conditions specified in this Section 5, each Repriced Term Lender that has signed a Lender Addendum shall be deemed to have consented to, approved or accepted or to
be satisfied with, each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to a Lender unless the Administrative Agent shall have received notice from such Repriced Term Lender prior to the
proposed Third Amendment Effective Date specifying its objection thereto. 
 Notwithstanding any other provisions of this Amendment to the contrary, the
Administrative Agent may appoint a fronting lender to act as the sole Additional Term Lender for purposes of facilitating funding on the Third Amendment Effective Date. Accordingly, any Lender Addendum (Additional Term Lender) submitted by or on
behalf of an Additional Term Lender other than such fronting lender will be deemed ineffective unless accepted by the Administrative Agent in its sole discretion. 

SECTION 6. Representations and Warranties. The Borrower and each Subsidiary Guarantor hereby represents and warrants to each of the
Lenders and the Administrative Agent that as of the Third Amendment Effective Date: 
 6.1. This Amendment has been duly authorized,
executed and delivered by each Loan Party that is a party hereto. This Amendment, the Credit Agreement, as amended hereby, and each other Loan Document constitutes a legal, valid and binding obligation of such Loan Party, enforceable against such
Loan Party that is a party thereto in accordance with its terms, except as such enforceability may be limited by Debtor Relief Laws and by general principles of equity. 

6.2. The execution, delivery and performance by each Loan Party of this Amendment, and the consummation of the transactions contemplated
hereby, (a) are within such Loan Party’s corporate or other powers, (b) have been duly authorized by all necessary corporate or other organizational action, and (c) do not (i) contravene the terms of any of such
Person’s Organization Documents, (ii) conflict with or result in any breach or contravention of, or the creation of any Lien under, or require any payment to be made under (x) any Contractual Obligation to which such Person is a party
or affecting such Person or the properties of such Person or any of its Subsidiaries or (y) any material order, injunction, writ or decree of any Governmental Authority or any arbitral award to which such Person or its property is subject, or
(iii) violate any applicable Law; except with respect to any conflict, breach, contravention or payment (but not creation of Liens) referred to in clause (c)(ii)(x), to the extent that such violation, conflict, breach, contravention or payment
could not reasonably be expected to have a Material Adverse Effect. 
 6.3. Each of the representations and warranties of each Loan Party
set forth in Article V of the Credit Agreement and each other Loan Document are true and correct in all material respects (except that any representation and warranty that is qualified as to “materiality” or “Material Adverse
Effect” shall be true and correct in all respects as so qualified) on and as of 

  
 8 

 
the Third Amendment Effective Date with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date, in
which case they are true and correct in all material respects as of such earlier date.  

SECTION 7. Effect of Amendment. 

7.1. Except as expressly set forth herein, this Amendment shall not by implication or otherwise limit, impair, constitute a waiver of or
otherwise affect the rights and remedies of the Lenders or the Administrative Agent under the Credit Agreement or any other Loan Document, and shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants
or agreements contained in the Credit Agreement or any other provision of the Credit Agreement or of any other Loan Document, all of which are ratified and affirmed in all respects and shall continue in full force and effect. Nothing herein shall be
deemed to entitle the Borrower to a consent to, or a waiver, amendment, modification or other change of, any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other Loan Document in similar or
different circumstances. 
 7.2. On and after the Third Amendment Effective Date, each reference in the Credit Agreement to “this
Agreement”, “hereunder”, “hereof”, “herein”, or words of like import, and each reference to the Credit Agreement in any other Loan Document shall be deemed a reference to the Credit Agreement as amended hereby.
This Amendment shall constitute a “Loan Document” for all purposes of the Credit Agreement and the other Loan Documents. 
 7.3.
Except as expressly provided herein or in the Credit Agreement, the Refinancing Term Facility shall be subject to the terms and provisions of the Credit Agreement and the other Loan Documents. 

SECTION 8. Acknowledgement and Consent. Each Loan Party hereby confirms that (i) all of its obligations, liabilities and
indebtedness under the Loan Documents to which it is a party shall remain in full force and effect on a continuous basis regardless of the effectiveness of this Amendment and (ii) all of the Liens and security interests created and arising
under the Loan Documents to which it is a party remain in full force and effect on a continuous basis, and the perfected status and priority of each such Lien and security interest continues in full force and effect on a continuous basis,
unimpaired, uninterrupted and undischarged, regardless of the effectiveness of this Amendment, as collateral security for its obligations, liabilities and indebtedness under the Credit Agreement as amended by this Amendment and related guarantees.

 SECTION 9. General. 

9.1. GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 

9.2. Costs and Expenses. The Borrower agrees to pay or reimburse the Administrative Agent, the Collateral Agent and the Lead Arrangers
for all reasonable and documented out-of-pocket costs and expenses incurred in connection with the preparation, 

  
 9 

 
negotiation, syndication and execution of this Amendment and the consummation and administration of the transactions contemplated hereby (including all Attorney Costs of Skadden, Arps, Slate,
Meagher & Flom LLP), in each case to the extent such payment or reimbursement would be required by Section 10.04 of the Credit Agreement. 

9.3. Counterparts. This Amendment may be executed in one or more counterparts, each of which shall be deemed an original, but all of
which together shall constitute one and the same instrument. Delivery by telecopier or other electronic transmission of an executed counterpart of a signature page to this Amendment shall be effective as delivery of an original executed counterpart
of this Amendment. 
 9.4. Headings. The headings of this Amendment are used for convenience of reference only, are not part of this
Amendment and shall not affect the construction of, or be taken into consideration in interpreting, this Amendment. 
 [remainder of page
intentionally left blank] 

  
 10 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and
delivered by their respective duly authorized officers as of the day and year first above written. 
  

			
	ESH HOSPITALITY, INC., as Borrower
		
	By:	 	/s/ Jonathan S. Halkyard
		 	Name: Jonathan S. Halkyard
		 	Title:   Chief Executive Officer and President
	
	SUBSIDIARY GUARANTORS:
	
	 CP ESH INVESTORS, LLC
 EXTENDED STAY
LLC
 ESH H PORTFOLIO LLC
 ESH SPARTANBURG GROUND LESSEE LLC

ESH ACQUISITIONS HOLDINGS LLC
 ESH ACQUISITIONS LLC

ESA ADMINISTRATOR LLC

		
	By:	 	/s/ Jonathan S. Halkyard
		 	Name: Jonathan S. Halkyard
		 	Title:   President

 [Signature Page to Amendment No. 3] 

 
			
	 DEUTSCHE BANK AG NEW YORK BRANCH,

as Administrative Agent

		
	By:	 	/s/ Nicholas Hayes
		 	Name: Nicholas Hayes
		 	Title:   Managing Director

  

			
		
	By:	 	/s/ Ryan Corning
		 	Name: Ryan Corning
		 	Title:   Managing Director

 [Signature Page to Amendment No. 3] 

 LENDER ADDENDUM (CASHLESS ROLL) TO 

THE AMENDMENT OF THE 
 CREDIT
AGREEMENT 
 DATED AS OF AUGUST 30, 2016 

This Lender Addendum (Cashless Roll) (this “Lender Addendum”) is referred to in, and is a signature page to, the Third
Amendment (the “Amendment”) to the Credit Agreement, dated as of August 30, 2016 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among ESH Hospitality, Inc. (the
“Borrower”), the other Guarantors party thereto from time to time, the lenders party thereto from time to time (the “Lenders”) and Deutsche Bank AG New York Branch, as administrative agent (in such capacity, the
“Administrative Agent”), collateral agent and L/C Issuer. Capitalized terms used but not defined in this Lender Addendum have the meanings assigned to such terms in the Amendment or the Credit Agreement, as applicable. 

By executing this Lender Addendum as a Continuing Term Lender, the undersigned institution agrees (A) to the terms of the Amendment and
the Credit Agreement as amended thereby and (B) on the terms and subject to the conditions set forth in the Amendment and the Credit Agreement as amended thereby, to continue its Existing Term Loans as Third Repriced Term Loans pursuant to a
cashless roll on the Third Amendment Effective Date in the amount of its Repriced Term Commitment. 
  

	
	 Name of

Institution:                       
                                         
                                         
                                         
                                         
                                         
 

 Executing as a Continuing Term Lender: 

					
			
		 	By:	 	 
		 		 	Name:
		 		 	Title:

 For any institution requiring a second signature line: 

					
			
		 	By:	 	 
		 		 	Name:
		 		 	Title:

 LENDER ADDENDUM (ADDITIONAL TERM LENDER) TO THE 

AMENDMENT OF THE 
 CREDIT AGREEMENT

 DATED AS OF AUGUST 30, 2016 

This Lender Addendum (Additional Term Lender) (this “Lender Addendum”) is referred to in, and is a signature page to, the
Third Amendment (the “Amendment”) to the Credit Agreement, dated as of August 30, 2016 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among ESH Hospitality, Inc.
(the “Borrower”), the other Guarantors party thereto from time to time, the lenders party thereto from time to time (the “Lenders”) and Deutsche Bank AG New York Branch, as administrative agent (in such capacity,
the “Administrative Agent”), collateral agent and L/C Issuer. Capitalized terms used but not defined in this Lender Addendum have the meanings assigned to such terms in the Amendment or the Credit Agreement, as applicable. 

By executing this Lender Addendum as an Additional Term Lender, the undersigned institution agrees (A) to the terms of the Amendment and
the Credit Agreement as amended thereby, (B) on the terms and subject to the conditions set forth in the Amendment and the Credit Agreement as amended thereby, to make and fund Third Repriced Term Loans on the Third Amendment Effective Date in
the amount of such Additional Term Lender’s Repriced Term Commitment and (C) that on the Third Amendment Effective Date it is subject to, and bound by, the terms and conditions of the Credit Agreement and other Loan Documents as a Lender
thereunder. 
  

	
	 Name of

Institution:                       
                                         
                                         
                                         
                                         
                                         
     

 Executing as an Additional Term Lender: 

					
			
		 	By:	 	 
		 		 	Name:
		 		 	Title:

 For any institution requiring a second signature line: 

					
			
		 	By:	 	 
		 		 	Name:
		 		 	Title:Exhibit 4.1

 

GOPHER PROTOCOL INC. 

STOCK OPTION AGREEMENT 

	 

 

 This
Stock Option Agreement (“Agreement”) is made and entered into as of the date set forth below, by
and between GOPHER PROTOCOL INC., a Nevada corporation (the “Company”), and the following director of
the Company (herein, the “Optionee”):

 

In consideration of the covenants herein
set forth, the parties hereto agree as follows:

 

1. Option Information.

	 	(a)	Date of Option:	May 17, 2018
	 	(b)	Optionee:	_______________
	 	(c)	Number of Shares:	_______________
	 	(d)	Exercise Price:	$2.50 per share

 

2. Acknowledgements.

(a) Optionee
is an employee and executive officer of the Company and the Company and the Optionee have entered into that certain Executive
Retention Agreement on the date hereof (the “Retention Agreement”).

 

(b) The Board of Directors (the “Board”)
has authorized the granting to Optionee of a stock option (“Option”) to purchase shares of common stock having
a par value of $0.0001 per share of the Company (“Stock”) upon the terms and conditions hereinafter stated
and pursuant to an exemption from registration under the Securities Act of 1933, as amended (the “Securities Act”)
provided by Rule 701 and Section 4(a)(2) thereunder.

 

3. Shares; Price.
The Company hereby grants to Optionee the right to purchase, upon and subject to the terms and conditions herein stated, the number
of shares of Stock set forth in Section 1(c) above (the “Shares”) for cash, or pursuant to a Cashless Exercise
(as defined below) at the price per Share set forth in Section 1(d) above (the “Exercise Price”).

 

4. Term of Option.
This Option shall expire, and all rights hereunder to purchase the Shares, shall terminate five (5) years from the date hereof.
Vesting under this Option shall earlier terminate pursuant to Sections 7 and 8 hereof upon, and as of the date of, the termination
of Optionee’s employment if such termination occurs prior to the end of such five (5) year period, subject to the terms of
any retention or other employment agreement, which may have been or may be entered into by the Company with the Optionee, which
shall prevail in the event of any conflict with the provisions of this Agreement. Nothing contained herein shall confer upon Optionee
the right to the continuation of his or her employment by or office with the Company or to interfere with the right of the Company
to terminate such employment or to increase or decrease the compensation of Optionee from the rate in existence at the date hereof.

 

5. Intentionally
Left Blank.

 

     -1-

     

    

 

6.
Exercise. This Option may be exercised during the Term of this Option by delivery to the Company of (a) written notice of
exercise stating the number of Shares being purchased (in whole shares only) and such other information set forth on the form of
Notice of Exercise attached hereto as Appendix A, (b) a check or cash in the amount of the Exercise Price of the Shares
covered by the notice (or such other consideration as has been approved by the Board of Directors) and (c) a written investment
representation as provided for in Section 13 hereof. Notwithstanding anything to the contrary contained in this Option,
this Option may be exercised by presentation and surrender of this Option to the Company at its principal executive offices with
a written notice of the holder’s intention to effect a cashless exercise, including a calculation of the number of shares
of Common Stock to be issued upon such exercise in accordance with the terms hereof (a “Cashless Exercise”). In the
event of a Cashless Exercise, in lieu of paying the Exercise Price in cash, the holder shall surrender this Option for that number
of shares of Common Stock determined by multiplying the number of Shares to which it would otherwise be entitled by a fraction,
the numerator of which shall be the difference between the then current Market Price per share of the Common Stock and the Exercise
Price, and the denominator of which shall be the then current Market Price per share of Common Stock. Market Price is defined as
the average closing price on the principal trading market for the Common Stock during the thirty (30) trading days immediately
preceding the exercise date. This Option shall not be assignable or transferable, except by will or by the laws of descent and
distribution.

 

7. Intentionally
Left Blank.

 

8. Death of Optionee.
If the Optionee shall die while in the employ of the Company, (a) vesting of the Shares pursuant to Section 5 shall immediately
cease; and (b) Optionee’s personal representative or the person entitled to Optionee’s rights hereunder may at any
time within six (6) months after the date of Optionee’s death, or during the remaining term of this Option, whichever is
the lesser, exercise this Option and purchase Shares to the extent, but only to the extent, that Optionee could have exercised
this Option as of the date of Optionee’s death; provided, in any case, that this Option may be so exercised only to the extent
that this Option has not previously been exercised by Optionee.

 

9. No Rights as
Shareholder. Optionee shall have no rights as a shareholder with respect to the Shares covered by any installment of this Option
until the effective date of the issuance of shares following exercise of this to Option, and no adjustment will be made for dividends
or other rights for which the record date is prior to the date such stock certificate or certificates are issued except as provided
in Section 10 hereof.

 

10. Recapitalization.
Subject to any required action by the shareholders of the Company, the number of Shares covered by this Option, and the Exercise
Price thereof, shall be proportionately adjusted for any increase or decrease in the number of issued shares resulting from a subdivision
or consolidation of shares or the payment of a stock dividend.

 

11. Taxation upon
Exercise of Option.

 

		(a)	Optionee understands that, upon exercise of this Option, Optionee will become liable for Federal,
state, local or foreign income taxes, based on the amount by which the fair market value of the Shares, determined as of the date
of exercise, exceeds the Exercise Price.

 

		(b)	If the Company, in its discretion, determines that it is obligated to withhold any taxes in connection
with the exercise of the Option, the Optionee must make arrangements satisfactory to the Company to pay or provide for any applicable
federal, state, local or foreign withholding obligations of the Company. The Optionee may satisfy any federal, state, local or
foreign tax withholding obligation relating to the exercise of the Option by any of the means set forth in Section 6, or the Company
has the right to withhold Taxes from any compensation payable to Optionee.

 

		(c)	Notwithstanding any action the Company takes with respect to any or all taxes, the ultimate liability
for all taxes is and remains the Optionee’s responsibility and the Company (a) makes no representation or undertakings regarding
the calculation or treatment of any taxes in connection with the grant, vesting, or exercise of the Option or the subsequent sale
of any Shares acquired on exercise; and (b) does not commit to structure the Option to reduce or eliminate the Optionee’s
liability for any taxes.

  

     -2-

     

    

 

12. Modification,
Extension and Renewal of Options. The Board may modify, extend or renew this Option or accept the surrender thereof (to the
extent not theretofore exercised) and authorize the granting of a new option in substitution therefore (to the extent not theretofore
exercised). Notwithstanding the foregoing provisions of this Section 12, no modification shall, without the consent of the Optionee,
alter to the Optionee’s detriment or impair any rights of Optionee hereunder.

 

13. Investment Intent;
Restrictions on Transfer.

 

(a) Optionee
represents and agrees that if Optionee exercises this Option in whole or in part, Optionee will in each case acquire the Shares
upon such exercise for the purpose of investment and not with a view to, or for resale in connection with, any distribution thereof;
and that upon such exercise of this Option in whole or in part, Optionee shall furnish to the Company a written statement to such
effect, satisfactory to the Company in form and substance. If the Shares represented by this Option are registered under the Securities
Act, either before or after the exercise of this Option in whole or in part, the Optionee shall be relieved of the foregoing investment
representation and agreement and shall not be required to furnish the Company with the foregoing written statement.

 

(b) Optionee
further represents that Optionee has had access to the financial statements or books and records of the Company, has had the opportunity
to ask questions of the Company concerning its business, operations and financial condition, and to obtain additional information
reasonably necessary to verify the accuracy of such information. 

 

 (c) Unless and until the Shares represented by this Option are registered under the Securities Act, all certificates representing
the Shares and any certificates subsequently issued in substitution therefor and any certificate for any securities issued pursuant
to any stock split, share reclassification, stock dividend or other similar capital event shall bear legends in substantially the
following form:

 

THESE SECURITIES
HAVE NOT BEEN REGISTERED OR OTHERWISE QUALIFIED UNDER THE SECURITIES ACT OF 1933 (THE ‘SECURITIES ACT’) OR UNDER THE
APPLICABLE OR SECURITIES LAWS OF ANY STATE. NEITHER THESE SECURITIES NOR ANY INTEREST THEREIN MAY BE SOLD, TRANSFERRED, PLEDGED
OR OTHERWISE DISPOSED OF IN THE ABSENCE OF REGISTRATION UNDER THE SECURITIES ACT OR ANY APPLICABLE SECURITIES LAWS OF ANY STATE,
UNLESS PURSUANT TO EXEMPTIONS THEREFROM.

 

and/or such other legend or legends
as the Company and its counsel deem necessary or appropriate. Appropriate stop transfer instructions with respect to the Shares
have been or may be placed with the Company’s transfer agent.

 

14. Notices.
Any notice required to be given pursuant to this Option shall be in writing and shall be deemed to be delivered upon receipt or,
in the case of notices by the Company, five (5) days after deposit in the U.S. mail, postage prepaid, addressed to Optionee at
the address last provided by Optionee for use in Company records related to Optionee.

 

15. This Option has
been granted, executed and delivered in the State of New York, and the interpretation and enforcement shall be governed by the
laws thereof and subject to the exclusive jurisdiction of the courts therein.

 

 

 

     -3-

     

    

 

In
Witness Whereof, the parties hereto have executed this Option as of the date first above written.

 

	COMPANY:	GOPHER PROTOCOL INC.,

        a Nevada corporation
	 	 
	 	By:	 	 
	 	Name:
Title:
	 	 
	OPTIONEE:	 
	 	 	 	 

 

     -4-

     

    

 

Appendix A

 

NOTICE OF EXERCISE

 

GOPHER PROTOCOL INC. 

_________________ 

_________________ 

_________________

 

Re: Stock Option

 

1)       Notice
is hereby given pursuant to Section 6 of my Stock Option Agreement that I elect to purchase the number of shares set forth below
at the exercise price set forth in my option agreement:

 

Stock Option Agreement
dated: ______________

 

Number of shares being
purchased: ____________

 

Exercise Price: $____________

 

A check in the amount
of the aggregate price of the shares being purchased is attached.

 

OR

 

2)       I
elect a cashless exercise pursuant to Section 6 of my Stock Option Agreement. The Market Price as of _______ was $_______.

 

I hereby confirm that
such shares are being acquired by me for my own account for investment purposes, and not with a view to, or for resale in connection
with, any distribution thereof. I will not sell or dispose of my Shares in violation of the Securities Act of 1933, as amended,
or any applicable federal or state securities laws.

 

I understand that the
certificate representing the Option Shares will bear a restrictive legend within the contemplation of the Securities Act and as
required by such other state or federal law or regulation applicable to the issuance or delivery of the Option Shares.

 

	 	By:	 	 
	 	 	(signature)	 
	 	Name:

 

     -5-

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