SEC Contract Filing

Filing Date: 2022-02-24

Document Content:
<DOCUMENT>
<TYPE>EX-10.24
<SEQUENCE>7
<FILENAME>irt-ex1024_13.htm
<DESCRIPTION>EX-10.24
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;margin-left:0.21%;font-family:Times New Roman;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.52%;"><a name="Section_1"></a><font style="margin-left:36pt;"></font><font style="font-weight:bold;font-size:14pt;"> </font><font style="font-weight:bold;font-size:14pt;margin-left:36pt;">Exhibit 10.24</font></p>
<p style="margin-top:0pt;margin-bottom:0pt;margin-left:0.21%;text-indent:0%;font-weight:bold;;font-size:14pt;">&nbsp;</p>
<p style="text-align:center;margin-top:4pt;margin-bottom:0pt;margin-left:17.61%;margin-right:17.75%;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">AMENDMENT<font style="letter-spacing:-0.1pt;"> </font>NO.<font style="letter-spacing:-0.1pt;"> </font>2<font style="letter-spacing:-0.1pt;"> </font>TO<font style="letter-spacing:-0.1pt;"> </font>EMPLOYMENT<font style="letter-spacing:-0.1pt;"> </font>AGREEMENT</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;;font-size:11.5pt;">&nbsp;</p>
<p style="line-height:13pt;margin-bottom:0pt;margin-top:0pt;margin-left:4.8%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">THIS<font style="letter-spacing:1.75pt;"> </font>AMENDMENT<font style="letter-spacing:1.8pt;"> </font>NO.<font style="letter-spacing:1.8pt;"> </font>2<font style="letter-spacing:1.8pt;"> </font>TO<font style="letter-spacing:1.8pt;"> </font>EMPLOYMENT<font style="letter-spacing:1.8pt;"> </font>AGREEMENT<font style="letter-spacing:1.8pt;"> </font>(this<font style="letter-spacing:1.8pt;"> </font>&#8220;Agreement&#8221;)<font style="letter-spacing:1.8pt;"> </font>by</p>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;margin-left:1.04%;margin-right:1.04%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">and among STAR REIT Services, LLC, a Delaware limited liability company (the &#8220;Company&#8221;),<font style="letter-spacing:0.05pt;"> </font>Steadfast Apartment REIT, Inc., a Maryland corporation (the &#8220;REIT&#8221;), Steadfast Apartment<font style="letter-spacing:0.05pt;"> </font>REIT Operating Partnership, L.P., a Delaware limited partnership (the &#8220;Operating Company&#8221;)<font style="letter-spacing:0.05pt;"> </font>and<font style="letter-spacing:-0.05pt;"> </font>Ella Neyland (&#8220;Executive&#8221;) is<font style="letter-spacing:-0.05pt;"> </font>entered into on July 26, 2021.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:1.04%;margin-right:1.04%;text-indent:3.76%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">WHEREAS,<font style="letter-spacing:1.05pt;"> </font>the<font style="letter-spacing:1.1pt;"> </font>Company,<font style="letter-spacing:1.1pt;"> </font>the<font style="letter-spacing:1.05pt;"> </font>REIT,<font style="letter-spacing:1.1pt;"> </font>the<font style="letter-spacing:1.05pt;"> </font>Operating<font style="letter-spacing:1.1pt;"> </font>Company<font style="letter-spacing:1.1pt;"> </font>and<font style="letter-spacing:1.05pt;"> </font>Executive<font style="letter-spacing:1.1pt;"> </font>are<font style="letter-spacing:1.1pt;"> </font>parties<font style="letter-spacing:1.05pt;"> </font>to<font style="letter-spacing:-2.85pt;"> </font>an<font style="letter-spacing:-0.05pt;"> </font>Employment Agreement dated September 1, 2020<font style="letter-spacing:-0.05pt;"> </font>(the &#8220;Employment Agreement&#8221;); and</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;margin-left:1.04%;margin-right:1.04%;text-indent:3.76%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">WHEREAS, the REIT and the Operating Company expect to enter into an Agreement and<font style="letter-spacing:0.05pt;"> </font>Plan of Merger with Independence Realty Trust, Inc. (the &#8220;IRT&#8221;) and certain other parties named<font style="letter-spacing:-2.85pt;"> </font>therein, whereby (1) the REIT will be merged with and into IRSTAR Sub, LLC, a wholly-owned<font style="letter-spacing:-2.85pt;"> </font>subsidiary of IRT (&#8220;IRT Merger Sub&#8221;), with IRT Merger Sub surviving as a wholly-owned<font style="letter-spacing:0.05pt;"> </font>subsidiary<font style="letter-spacing:0.05pt;"> </font>of<font style="letter-spacing:0.05pt;"> </font>IRT<font style="letter-spacing:0.05pt;"> </font>(the<font style="letter-spacing:0.05pt;"> </font>&#8220;Company<font style="letter-spacing:0.05pt;"> </font>Merger&#8221;),<font style="letter-spacing:0.05pt;"> </font>and<font style="letter-spacing:0.05pt;"> </font>(2)<font style="letter-spacing:0.05pt;"> </font>immediately<font style="letter-spacing:0.05pt;"> </font>following<font style="letter-spacing:0.05pt;"> </font>the<font style="letter-spacing:3pt;"> </font>Company<font style="letter-spacing:0.05pt;"> </font>Merger,<font style="letter-spacing:0.05pt;"> </font>the<font style="letter-spacing:0.05pt;"> </font>Operating<font style="letter-spacing:0.05pt;"> </font>Company<font style="letter-spacing:0.05pt;"> </font>will<font style="lette