Page 58 - Valor Presentation for Baxter Fain

SUGGESTED MANAGEMENT AGREEMENT TERMS

• Group Services / Marketing Fee

• All system fees currently being paid and largely non-negotiable

• Reservation Fee

• Brand driven

• Performance Clause

• Valor provide performance clauses and are generally based around market share through STR reports and GOP
%age performance

• Termination provisions in the Contract

• Valor termination noted. Brand have their own provisions

• Approval Rights (annual budgets, executive personnel)

• Valor always present General Managers to owners for approval

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• Annual budgets are presented by October 31 latest to allow for a suitable review period & discussion
• Exclusivity / Area of Protection

• Assume brand negotiated