Acknowledgment of Assumption and Amendment of Employment Agreement by ESA Management, LLC and Jonathan Halkyard
ESA Management, LLC and Jonathan Halkyard agree that, following the closing of an asset purchase from HVM L.L.C., ESA will assume Jonathan Halkyard's employment agreement originally made with HVM. The agreement clarifies that all references to HVM or the Company now refer to ESA, and references to Manager Representatives now refer to the Board of Directors of Extended Stay America, Inc. This acknowledgment is effective as of the closing date of the asset purchase.
Exhibit 10.18.1
ESA Management, LLC
11525 N. Community House Road
Suite 100
Charlotte, NC 28277
October 11, 2013
ACKNOWLEDGMENT OF ASSUMPTION
ESA Management, LLC (“ESA”) hereby acknowledges and agrees that effective upon the consummation of the transactions (the “Closing”) contemplated by that certain Asset Purchase Agreement dated as of October 9, 2013 by and between ESA and HVM L.L.C. (“HVM”), ESA shall assume that certain employment agreement by and between Jonathan Halkyard and HVM entered into on September 1, 2013 (the “Employment Agreement”) in accordance with the terms of Section 2.1 of the Asset Purchase Agreement and Section 10 of the Employment Agreement.
In addition, ESA and Jonathan Halkyard hereby agree and acknowledge the following clarifications and amendments to the Employment Agreement in light of the assumption to be effective as of the Closing:
| 1. | All references to “HVM L.L.C.” or the “Company” shall be deemed references to “ESA Management, LLC”. |
| 2. | All references to the “Manager Representatives” shall be deemed references to the “Board of Directors of Extended Stay America, Inc.” |
IN WITNESS WHEREOF, the parties have executed this Acknowledgement as of the date set forth above.
| ESA MANAGEMENT, LLC | ||
| By: | /s/ Christopher Daniello | |
| Name: | Christopher Daniello | |
| Title: | Vice President and Secretary | |
| JONATHAN HALKYARD | ||
| By: | /s/ Jonathan Halkyard | |
