Braemar Hotels & Resorts enters waiver to award cash incentive compensation to Advisor employees in Q1-Q2 2023

Braemar Hotels & Resorts Inc.

Waiver allows cash incentive compensation to employees/representatives of Advisor during first two fiscal quarters of 2023.
Waiver is limited to this instance and does not affect other provisions of the Advisory Agreement.
Company bears all costs of the cash incentive awards.
Parties include Braemar Hotels & Resorts, its operating partnership, TRS, Ashford Inc., and Ashford Hospitality Advisors.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Braemar Hotels & Resorts Inc. amended Limited Waiver Under Advisory Agreement with Braemar Hospitality Limited Partnership (the “Operating Partnership”), Braemar TRS Corporation (“TRS”), Ashford Inc. (“AINC”) and Ashford Hospitality Advisors LLC (together with AINC, the “Advisor”) valued at Waiver of limitations on cash incentive compensation awards for Q1 and Q2 2023 (effective 2023-03-02).

Action: amendment
Counterparty: Braemar Hospitality Limited Partnership (the “Operating Partnership”), Braemar TRS Corporation (“TRS”), Ashford Inc. (“AINC”) and Ashford Hospitality Advisors LLC (together with AINC, the “Advisor”)
Value: Waiver of limitations on cash incentive compensation awards for Q1 and Q2 2023
Effective: 2023-03-02

Exact text from the filing

On March 2, 2023, Braemar Hotels & Resorts Inc. (the “Company”) entered into a Limited Waiver Under Advisory Agreement (the “Limited Waiver”) with Braemar Hospitality Limited Partnership (the “Operating Partnership”), Braemar TRS Corporation (“TRS”), Ashford Inc. (“AINC”) and Ashford Hospitality Advisors LLC (together with AINC, the “Advisor”).

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Source: SEC EDGAR

accession 0001574085-23-000029

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