EXHIBIT 10.16
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SECOND AMENDMENT
TO
SERVICES AGREEMENT
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AGREEMENT is effective as of the Effective Date (as defined in the
Agreement and Plan of Merger by and between Xxxxxxxx Hospitality Trust, Inc. and
Supertel Hospitality, Inc.) by and between XXXXXXXX HOSPITALITY TRUST, INC., a
Virginia corporation (the "Company") and XXXXXXXX HOSPITALITY MANAGEMENT, INC.,
a Maryland corporation (the "Provider").
WHEREAS, the Company is a publicly traded real estate investment trust;
WHEREAS, as a publicly traded company, the Company needs certain accounting
and administrative services to be performed in order to comply with the various
federal and state regulatory requirements;
WHEREAS, the Company desires that the Provider provide certain services
with respect to the Company's accounting and administrative requirements;
WHEREAS, the Company and the Provider wish to amend the amount of the fee
set forth in Section 3 of the Services Agreement originally executed as of
January 1, 1996, and as amended (the "Services Agreement");
NOW, THEREFORE, in consideration of the mutual covenants and conditions set
forth herein and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties agree as follows:
1. Section 3 is hereby amended and replaced with the following:
For Services to be performed under this Agreement, the Company
shall pay the Provider a fee in the amount of Three Hundred
Thousand Dollars ($300,000) per year which shall be payable
monthly in installments by the tenth day following the month in
which the services are performed.
2. In all other respects, the Services Agreement remains in full force
and effect.
IN WITNESS WHEREOF, the parties have caused this Agreement to be duly
executed as of the date first written above.
WITNESS: COMPANY:
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XXXXXXXX HOSPITALITY TRUST, INC.
_____________________________ By:_________________________________________
Name:_____________________________
Title:____________________________
PROVIDER:
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XXXXXXXX HOSPITALITY MANAGEMENT,
INC.
_____________________________ By:_________________________________________
Name:________________________________
Title:_______________________________
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