Ashford Hospitality Trust amends advisory pact; term extended to 2055, termination fee set at 30× EBITDA discounted 2%

ASHFORD HOSPITALITY TRUST INC

Termination Fee redefined as 30 years of Foregone Adjusted EBITDA, discounted at 2%.
Minimum Tangible Net Worth reduced from $750M to $600M plus 75% of equity proceeds after June 2023.
Working Capital Reserve fixed at $20M; Advisor may escrow Termination Fee upon Change of Control.
Company's ability to terminate agreement for fraud removed; tax indemnity for Advisor added.
Incentive Fee cap for peer outperformance increased from 25% to 100%; TMC fee reduced if market cap exceeds $4B.

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