SEC Contract Filing

Filing Date: 2017-08-10

Document Content:
<DOCUMENT>
<TYPE>EX-10.13
<SEQUENCE>7
<FILENAME>hit-exhibit1013xq22017.htm
<DESCRIPTION>EXHIBIT 10.13
<TEXT>
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<div><a name="s98931034AE6468FBADB68A99FD508C5E"></a></div><div><div style="line-height:120%;padding-bottom:32px;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-style:italic;">Non-Employee Director Form &#8211; Restricted Stock </font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Exhibit 10.13</font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">FORM OF RESTRICTED SHARE AWARD AGREEMENT</font><font style="font-family:inherit;font-size:10pt;">&#32;<br> <br></font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">PURSUANT TO THE</font><font style="font-family:inherit;font-size:10pt;">&#32;<br> <br></font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">AMENDED AND RESTATED EMPLOYEE AND DIRECTOR</font><font style="font-family:inherit;font-size:10pt;">&#32;<br> <br></font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">INCENTIVE RESTRICTED SHARE PLAN OF</font><font style="font-family:inherit;font-size:10pt;">&#32;<br> <br></font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">HOSPITALITY INVESTORS TRUST, INC.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">THIS AGREEMENT (this &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;) is made effective as of July 3, 2017 (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Grant Date</font><font style="font-family:inherit;font-size:12pt;">&#8221;), by and between Hospitality Investors Trust, Inc., a Maryland corporation with its principal office at 450 Park Avenue, Suite 1400, New York, New York 10022 (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Company</font><font style="font-family:inherit;font-size:12pt;">&#8221;), and [___________] (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Participant</font><font style="font-family:inherit;font-size:12pt;">&#8221;).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, the Company maintains the Amended and Restated Employee and Director Incentive Restricted Share Plan of Hospitality Investors Trust, Inc. (as amended and/or restated from time to time, the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Plan</font><font style="font-family:inherit;font-size:12pt;">&#8221;);</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, the Plan provides that the Company, through the Compensation Committee of the Company&#8217;s Board of Directors (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Committee</font><font style="font-family:inherit;font-size:12pt;">&#8221;), has the ability to grant awards of restricted shares to directors, officers, employees and certain consultants or entities, in each case, that are employed by or provide services to the Company or any Affiliate of the Company; </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, the Participant or its Affiliate has the right, pursuant to the Articles Supplementary of the Company establishing and fixing the rights and preferences of the Redeemable Preferred Share of the Company filed with the State Department of Assessments and Taxation of Maryland on March 31, 2017 and the Amended and Restated Bylaws of the Company as of March 31, 2017, to appoint two Directors to the Company&#8217;s Board, and in respect of their service, such Directors may from time to time receive compensation;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, the Directors appointed by the Participant or its Affiliate are employees of the Participant or an Affiliate of the Participant and the Directors have, pursuant to the Compensation Payment Agreement entered into by such Directors, the Company and the Participant on March 31, 2017, agreed that they shall not benefit personally from such compensation, the benefits of which shall inure to the Participant; and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, subject to the terms and conditions of this Agreement and the Plan, the Committee has determined that the Participant shall be awarded restricted shares in the amount set forth below.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">NOW, THEREFORE, the Company and the Participant agree as follows:</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:justify;text-indent:48px;"><font style="padding-bottom:16px;text-align:justify;font-family:inhe