Amendment to Letter Agreement Between Apple Hospitality REIT, Inc. and Bryan Peery (March 30, 2020)
Apple Hospitality REIT, Inc. and Bryan Peery have amended their March 4, 2020 Letter Agreement to defer payment of an Additional Benefit due to the impact of COVID-19 on the company's operations. The payment will be postponed until a later date in 2020, to be mutually agreed upon by both parties. All other terms of the original agreement remain unchanged.
Exhibit 10.5
Amendment to Letter Agreement (“Agreement”) dated March 4, 2020 between Apple Hospitality REIT, Inc. (the “Company”) and Bryan Peery.
The purpose of this Amendment is to acknowledge that, as a result of the recent effects of COVID-19 on the operating results for the Company, each party to the Agreement has agreed that payment of the Additional Benefit will be deferred until a mutually agreed upon date later in calendar year 2020. The remaining terms of the Agreement shall remain unchanged.
Accepted and Agreed
/s/ Justin Knight
Justin Knight
Apple Hospitality REIT, Inc.
/s/ Bryan Peery
Bryan Peery
March 30, 2020
Date
