SEC Contract Filing

Filing Date: 2018-05-15

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>3
<FILENAME>a3312018-exhibit103.htm
<DESCRIPTION>EX-10.3
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
	<head>
 <!-- Document created using Wdesk 1 -->
 <!-- Copyright 2018 Workiva -->
 <title>Exhibit</title>
	</head>
	<body style="font-family:Times New Roman;font-size:10pt;">
<div><a name="sFB326E312AA0591BD22E4B0347399FFD"></a></div><div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Exhibit 10.3</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;text-decoration:underline;">FIRST AMENDMENT TO TRANSACTION AGREEMENT</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">THIS FIRST AMENDMENT TO TRANSACTION AGREEMENT </font><font style="font-family:inherit;font-size:10pt;">(this &#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Amendment</font><font style="font-family:inherit;font-size:10pt;">&#8221;) is made and entered into as of March 29, 2018, by and between FIVE STAR SENIOR LIVING INC., a Maryland corporation (&#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">FVE</font><font style="font-family:inherit;font-size:10pt;">&#8221;), on behalf of itself and its subsidiaries, and SENIOR HOUSING PROPERTIES TRUST, a Maryland real estate investment trust (&#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">SNH</font><font style="font-family:inherit;font-size:10pt;">&#8221;), on behalf of itself and its subsidiaries.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">WITNESSETH:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">WHEREAS,</font><font style="font-family:inherit;font-size:10pt;">&#32;FVE and SNH are parties to that certain Transaction Agreement, dated as of November 8, 2017 (the &#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Transaction Agreement</font><font style="font-family:inherit;font-size:10pt;">&#8221;), relating to certain senior living communities as further described in the Transaction Agreement; and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">WHEREAS,</font><font style="font-family:inherit;font-size:10pt;">&#32;FVE and SNH have agreed to amend the Transaction Agreement in accordance with the terms and conditions set forth in this Amendment;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">NOW, THEREFORE,</font><font style="font-family:inherit;font-size:10pt;">&#32;in consideration of the foregoing and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, and intending to be legally bound, FVE and SNH hereby agree as follows:</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:left;text-indent:48px;"><font style="padding-bottom:16px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">1.</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;text-decoration:underline;">Closing Date</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">. </font><font style="font-family:inherit;font-size:10pt;">Section 1.1(9) of the Transaction Agreement is amended to delete the reference to the defined term &#8220;Closing Date&#8221; in its entirety and replace it with the following:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:96px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Closing Date</font><font style="font-family:inherit;font-size:10pt;">&#8221;: with respect to a Property, the date mutually acceptable to each of FVE and SNH on or after the date that all conditions to the obligations of the parties to consummate the purchase and sale of such Property have been satisfied or waived by the party entitled thereto (other than any conditions which by their terms are to be satisfied on the Closing Date), </font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:10pt;">, in no event will a Closing Date be later than June 30, 2018.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:left;text-indent:48px;"><font style="padding-bottom:16px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">2.</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;text-decoration:underline;">Ratification</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">.</font><font style="font-family:inherit;font-size:10pt;">&#32;&#32;All of the provisions of the Transaction Agreement, as amended by this Amendment, are hereby ratified and confirmed and remain in full force and effect.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:left;text-indent:48px;"><font style="padding-bottom:16px;text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">3.</font><font style="font-family:inherit;font-size:10pt