SEC Contract Filing

Filing Date: 2021-06-14

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>tm2119461d1_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 416.25pt"><B>Exhibit&nbsp;10.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TRAVELCENTERS OF AMERICA&nbsp;INC.</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECOND AMENDED AND RESTATED 2016 EQUITY COMPENSATION
PLAN, AS AMENDED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">1.</TD><TD STYLE="text-align: justify">PURPOSE</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The purpose of this TravelCenters of America&nbsp;Inc. Second Amended
and Restated 2016 Equity Compensation Plan, as amended (the &quot;Plan&quot;) is to encourage employees, officers, directors and other
individuals (whether or not employees) who render services to TravelCenters of America&nbsp;Inc., a Maryland corporation (the &quot;Company&quot;),
or its affiliates to continue their efforts for and association with the Company or its affiliates by providing opportunities for them
to participate in the ownership of the Company and in its future growth through the granting of options to acquire shares of the Company's
common stock (&quot;Options&quot;), grants of shares of the Company's common stock some of which may be subject to restrictions (&quot;Restricted
Stock&quot;) and other rights, (including stock appreciation rights (&quot;SARs&quot;)) to receive compensation in amounts determined
by the value of the Company's common stock (&quot;Other Rights&quot;). The term &quot;Subsidiary&quot; as used in the Plan means a corporation
or other business entity of which the Company owns, directly or indirectly through an unbroken chain of ownership, fifty percent (50%)
or more of the total combined voting power of all classes of stock, in the case of a corporation, or fifty percent (50%) or more of the
total combined interests by value, in the case of any other type of business entity. The Plan was first amended and restated in order
to reflect the conversion of TravelCenters of America&nbsp;LLC to TravelCenters of America&nbsp;Inc. under state law and the 1:5 reverse
stock split effected in connection with that conversion on August&nbsp;1, 2019, and it was amended and restated again on May&nbsp;21,
2020.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">2.</TD><TD STYLE="text-align: justify">ADMINISTRATION OF THE PLAN</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Plan shall be administered by the Compensation Committee of the
Company's Board of Directors or such other committee of the Board of Directors as the Board of Directors may designate (the &quot;Independent
Administrative Committee&quot;) except in instances where it is necessary or advisable (including to comply with applicable law or regulation)
to provide for administration by the Company's Board of Directors (the &quot;Board&quot;) itself. The Independent Administrative Committee
shall from time to time determine to whom awards shall be granted under the Plan, whether Options granted shall be incentive stock options
(&quot;ISOs&quot;) or nonqualified stock options (&quot;NSOs&quot;), the terms of the Options (including vesting provisions) and the number
of shares of Common Stock (as hereinafter defined) that may be granted under Options, and the terms and number of Restricted Stock or
Other Rights. The Independent Administrative Committee shall report to the Board the names of individuals to whom Options, shares of Restricted
Stock or Other Rights are to be granted, the number of shares of Common Stock covered and the terms and conditions of each grant. In instances
where the Board is administering the Plan, references in the Plan to the Independent Administrative Committee shall be deemed to refer
to the Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Independent Administrative Committee shall have the authority to
adopt, amend and rescind such rules&nbsp;and regulations as, in its opinion, may be advisable in the administration of the Plan, which
shall include, without limitation, the discretion to impose holding periods on shares of Common Stock acquired pursuant to awards granted
hereunder. All questions of interpretation and application of the Plan or such rules&nbsp;and regulations and of awards granted hereunder
shall be subject to the discretionary determination of the Independent Administrative Committee, which shall be final and binding. The
Plan shall be administered in such a manner as to permit those Options granted hereunder and specially designated under Section&nbsp;5
hereof as ISOs to qualify as incentive stock options for purposes of Section&nb