Hospitality Properties Trust Trustee Compensation Summary
This document outlines the compensation for Trustees of Hospitality Properties Trust. Independent Trustees receive an annual fee of $35,000 and $750 for each meeting attended, with a cap if multiple meetings occur on the same day. Committee chairpersons receive additional annual fees. Each Trustee is granted 2,000 common shares after the annual shareholder meeting or upon joining. The company also reimburses Trustees for travel and certain educational expenses. Compensation terms may be changed by the Board of Trustees at any time.
Exhibit 10.2
HOSPITALITY PROPERTIES TRUST
Summary of Trustee Compensation
The following is a summary of the currently effective compensation of the Trustees of Hospitality Properties Trust (the “Company”) for services as trustees, which is subject to modification at any time by the Board of Trustees.
· Each Independent Trustee receives an annual fee of $35,000, plus a fee of $750 for each meeting attended. Up to two $750 fees are payable if a board meeting and one or more board committee meetings are held on the same date.
· The chairpersons of the audit committee, the compensation committee and the nominating and governance committee, each of whom is an Independent Trustee, receive an additional annual fee of $10,000, $5,000 and $5,000, respectively.
· Each Trustee receives a grant of 2,000 of the Company’s common shares of beneficial interest on the date of the first board meeting following each annual meeting of shareholders (or, for Trustees who are first elected or appointed at other times, on the day of the first board meeting attended).
· The Company generally reimburses all Trustees for travel expenses incurred in connection with their duties as Trustees and for out of pocket costs incurred from their attending certain continuing education programs.
