ASHFORD SECURITIES LLC FORM OF DEALER MANAGER AGREEMENTDealer Manager Agreement • January 24th, 2020 • Braemar Hotels & Resorts Inc. • Real estate investment trusts • Texas
FORM OF PARTICIPATING BROKER-DEALER AGREEMENT WITH ASHFORD SECURITIES LLCParticipating Broker-Dealer Agreement • January 24th, 2020 • Braemar Hotels & Resorts Inc. • Real estate investment trusts
Ashford Securities LLC (the “Dealer Manager”) entered into a dealer manager agreement, dated as of , 2020 (the “Dealer Manager Agreement”), with Braemar Hotels & Resorts, Inc , a Maryland corporation (the “Company”), under which the Dealer Manager agreed to use its best efforts to solicit subscriptions in connection with the public offering (the “Primary Offering”) for up to 20,000,000 shares (the “Offering”) of the Company’s Series E Redeemable Preferred Stock, par value $0.01 per share (“Series E Preferred Stock”) or Series M Redeemable Preferred Stock, par value $0.01 per share (“Series M Preferred Stock” and together with the Series E Preferred Stock, the “Shares”) in the primary offering. The offering also covers the shares of common stock that may be issuable upon redemption of the Series E or Series M Preferred Stock. Each Share will be sold at a public offering price of $25.00 per Share. The offering also covers up to 8,000,000 shares of Series E Preferred Stock or Series M Pre
Subscription AgreementSubscription Agreement • January 24th, 2020 • Braemar Hotels & Resorts Inc. • Real estate investment trusts • Maryland
