SEC Contract Filing

Filing Date: 2017-03-22

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>2
<FILENAME>ex103terminationofadvisory.htm
<DESCRIPTION>EXHIBIT 10.3
<TEXT>
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<div><a name="s5F5000CB1D463216ACB4EBCBB93187DA"></a></div><div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Exhibit&#160;10.3</font></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">EXECUTION COPY</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">TERMINATION OF ADVISORY MANAGEMENT AGREEMENT</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">This Termination of Advisory Management Agreement (this &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Termination Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;), dated as of February 10, 2017, is entered into by and between Behringer Harvard Opportunity REIT I, Inc., a Maryland corporation (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Company</font><font style="font-family:inherit;font-size:12pt;">&#8221;), and Behringer Harvard Opportunity Advisors I, LLC, a Texas limited liability company (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Advisor</font><font style="font-family:inherit;font-size:12pt;">&#8221;), and, solely with respect to </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Sections 5 and 7 through 11</font><font style="font-family:inherit;font-size:12pt;">, Stratera Holdings, LLC (f/k/a Behringer Harvard Holdings, LLC), a Delaware limited liability company (&#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Stratera</font><font style="font-family:inherit;font-size:12pt;">&#8221;). </font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">RECITALS</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, the Company and the Advisor are parties to that certain Fourth Amended and Restated Advisory Management Agreement, entered on May 31, 2016 and effective as of May 15, 2016 (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Behringer Advisory Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;), pursuant to which the Advisor provides certain advisory services to the Company.</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></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, in the fourth quarter of 2016, the Advisor informed the Special Committee of the board of directors that it was pursuing a negotiated transaction with The Lightstone Group in order to transition the advisory services it provides to the Company to The Lightstone Group or an affiliate thereof. </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 and LSG-BH I Advisor LLC, a Delaware limited liability company (&#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Lightstone</font><font style="font-family:inherit;font-size:12pt;">&#8221;), contemplate entering into an Advisory Management Agreement on the date hereof (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Lightstone</font><font style="font-family:inherit;font-size:12pt;">&#32;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Advisory Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;) that is intended to replace the Behringer Advisory Agreement, subject to the termination of the Behringer Advisory Agreement.</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, the Special Committee of the board of directors of the Company has approved the execution, delivery and performance by the Company of this Termination Agreement;</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, the manager of the Advisor and the managers of Stratera have approved the execution, delivery and performance by the Advisor and Stratera (as applicable) of this Termination Agreement; and</font></div><div style="line