The document summarizes key points of discussion from a mock negotiation between a hotel owner and manager regarding the terms of a management agreement. The manager proposed a long initial term of 10-30 years depending on the property type, with renewal rights exercisable by the manager. In contrast, the owner preferred shorter duration and flexibility, seeking the shortest possible initial term of 5-10 years and limiting renewal rights. Termination rights were also a discussion point between the parties.

1. Mock Negotiation – Hotel Management Agreement Presented by Mitchell S. Berkey Jeff Holdaway Lynne Messina February 9, 2012

3. TERM

7. TERMINATION RIGHTS OF OWNER