Acknowledgment of Assumption of Employment Agreement by ESA Management, LLC and Tom Buoy
ESA Management, LLC and Tom Buoy agree that, following the closing of an asset purchase between ESA and HVM L.L.C., ESA will assume Tom Buoy's employment agreement previously held with HVM. The agreement clarifies that all references to HVM or its management in the employment contract now refer to ESA and its board. This acknowledgment is effective as of the closing date of the asset purchase.
Exhibit 10.19.4
ESA Management, LLC
11525 N. Community House Road
Suite 100
Charlotte, NC 28277
October 17, 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 Tom Buoy and HVM entered into as of August 24, 2011, as amended by the First Amendment dated , 2011 and the Second Amendment dated October 17, 2013 (as so amended, 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 Tom Buoy 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 “Board of Managers” or 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 | |
| TOM BUOY | ||
| By: | /s/ Tom Buoy | |
