FIFTH AMENDED AND RESTATED ADVISORY AGREEMENT BRAEMAR HOTELS & RESORTS INC.Advisory Agreement • April 23rd, 2018 • Braemar Hotels & Resorts Inc. • Real estate investment trusts • Texas
THIS FIFTH AMENDED AND RESTATED ADVISORY AGREEMENT (this “Amended Agreement”), is dated as of April 23, 2018, by and between BRAEMAR HOTELS & RESORTS INC., a Maryland corporation (the “Company”), BRAEMAR HOSPITALITY LIMITED PARTNERSHIP, a Delaware limited partnership (the “Operating Partnership”), BRAEMAR TRS CORPORATION, a Delaware corporation, ASHFORD INC., a Maryland corporation (“Ashford Inc.”), and ASHFORD HOSPITALITY ADVISORS LLC, a Delaware limited liability company which is the operating company of Ashford Inc. (“Advisors LLC” and, together with Ashford Inc., the “Advisor”). The parties to this Amended Agreement are sometimes referred to herein individually as a “Party” or collectively as the “Parties.” Unless the context otherwise requires, the term “Company” and the term “Advisor” shall collectively include such Party and its respective Subsidiaries (including, with respect to the Company, the Operating Partnership and in the case of the Advisor, all Majority or Minority Subs
