Common use of Issuance and Transferability Clause in Contracts

Issuance and Transferability. Certificates representing the shares granted hereunder shall be issued to Participant pursuant to the terms of the Plan as of the Grant Date and shall be marked with the following legend: “The shares represented by this certificate have been issued pursuant to the terms of the Remington Oil and Gas Corporation 2004 Stock Incentive Plan and may not be sold, pledged, transferred, assigned or otherwise encumbered in any manner except as is set forth in the terms of such Plan or Award dated _______.” Until all restrictions lapse, the Restricted Stock shall not be transferable except by will or the laws of descent and distribution or pursuant to a domestic relations order of the court in a divorce proceeding. No right or benefit hereunder shall in any manner be liable for or subject to any debts, contracts, liabilities, or torts of Participant. Notwithstanding the foregoing, in the case of Participant’s death or Disability, Participant’s rights under this Agreement may be exercised by Participant’s guardian or legal representative. Any purported assignment, alienation, pledge, attachment, sale, transfer or other encumbrance of the Restricted Stock, prior to the lapse of restrictions, that does not satisfy the requirements hereunder shall be void and unenforceable against the Company.

Issuance and Transferability. Certificates representing the shares granted hereunder shall be issued to Participant pursuant to the terms of the Plan as of the Grant Date and shall be marked with the following legend: “The shares represented by this certificate have been issued pursuant to the terms of the Remington Oil and Gas Corporation 2004 Stock Incentive Plan and may not be sold, pledged, transferred, assigned or otherwise encumbered in any manner except as is set forth in the terms of such Plan or Award dated _______.” Until all restrictions lapse, the Restricted Stock shall not be transferable except by will or the laws of descent and distribution or pursuant to a domestic relations order of the court in a divorce proceeding. No right or benefit hereunder shall in any manner be liable for or subject to any debts, contracts, liabilities, or torts of Participant. Notwithstanding the foregoing, in the case of Participant’s death or Disability, Participant’s rights under this Agreement may be exercised by Participant’s guardian or legal representative. Any purported assignment, alienation, pledge, attachment, sale, transfer or other encumbrance of the Restricted Stock, prior to the lapse of restrictions, that does not satisfy the requirements hereunder shall be void and unenforceable against the Company.

Issuance and Transferability. Certificates In the event certificates representing the shares granted hereunder are issued to the Participant such certificates shall be issued to Participant pursuant to the terms of the Plan as of the Grant Date even date herewith and shall be marked with the following legend: “The shares represented by this certificate have been issued pursuant to the terms of the Remington Oil and Gas Corporation 2004 Ashford Hospitality Trust, Inc. 2011 Stock Incentive Plan and the Restricted Stock Award Agreement dated February 20, 2017, and may not be sold, pledged, transferred, assigned or otherwise encumbered in any manner except as is set forth in the terms of such Plan plan or Award dated _______grant.” Until all restrictions lapse, the Restricted Stock shall Such shares are not be transferable except by will or the laws of descent and distribution or pursuant to a domestic relations order of the court in a divorce proceeding. No right or benefit hereunder shall in any manner be liable for or subject to any debts, contracts, liabilities, or torts of the Participant. Notwithstanding Any attempt to assign, alienate, pledge, attach, sell or otherwise transfer or encumber the foregoingRestricted Stock or any rights relating to any of the foregoing shall be wholly ineffective and, in if any such attempt is made, the case Restricted Stock will be automatically forfeited by the Participant and all of Participant’s death or Disability, the Participant’s rights under this Agreement may be exercised to such shares shall immediately terminate without any payment or consideration by Participant’s guardian or legal representative. Any purported assignment, alienation, pledge, attachment, sale, transfer or other encumbrance of the Restricted Stock, prior to the lapse of restrictions, that does not satisfy the requirements hereunder shall be void and unenforceable against the Company, Advisor and/or their respective Affiliates.