Extension Letter Agreement between Supertel Hospitality, Inc. and Kelly Walters (December 19, 2014)

Contract Categories: Human Resources › Employment Agreements
Summary

Supertel Hospitality, Inc. and Kelly Walters agree that Walters will continue as President and CEO until a new CEO is hired or January 31, 2015, whichever comes first. The company also extends a previously set date from March 31, 2015, to April 30, 2015, as referenced in an earlier letter. All other terms from the prior agreement remain unchanged. This letter serves as a formal extension of Walters' employment and related terms.

Read More Arrow
EX-10.1 2 sppr8k_dec19ltr.htm Unassociated Document

December 19, 2014
 
Kelly Walters
President and Chief Executive Officer
Supertel Hospitality, Inc.
1800 West Pasewalk Avenue, Suite 200
Norfolk, Nebraska 68701
 
Dear Kelly,
 
As discussed, we agree that you will extend your service as President and Chief Executive Officer to the earlier of the hiring of a new chief executive officer or January 31, 2015.  Additionally, the March 31, 2015 date set forth in the Company’s letter to you, dated September 10, 2014, is extended to April 30, 2015.  All other matters set forth in the Company’s letter remain unchanged.
 
If the foregoing is acceptable to you, please sign and date below and return a signed copy to me.
 
Supertel Hospitality, Inc.
 
 
/s/ James Friend
James Friend, Chairman of
the Board of Directors
 
Accepted and agreed this December 19, 2014
 
/s/ Kelly A. Walters
Kelly A. Walters