Maryland
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1-14045
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36-4219376
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(State or other jurisdiction
of incorporation)
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(Commission
File Number)
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(IRS Employer
Identification No.)
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¨
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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¨
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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¨
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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¨
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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•
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a base salary for 2016 at an annual rate of $400,000;
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•
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an annual cash incentive target bonus for 2016 of $250,000; and
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a one-time signing bonus of $200,000.
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Exhibit No.
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Description
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10.1
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Offer letter to Kenneth G. Fuller
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99.1
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Press release dated April 1, 2016
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LASALLE HOTEL PROPERTIES
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Dated: April 1, 2016
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BY:
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/s/ Michael D. Barnello
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Michael D. Barnello
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President and Chief Executive Officer
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Exhibit No.
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Description
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10.1
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Offer letter to Kenneth G. Fuller
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99.1
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Press release dated April 1, 2016
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1.
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Time-Based Restricted Share Grant - A grant of restricted stock valued at $250,000, which will vest one-third on 1/1/17, one-third on 1/1/18 and the remaining 1/3 on 1/1/19. You will receive dividends on said shares as dividends are paid on the Company’s common shares.
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2.
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Performance-Based Restricted Share Grant - A performance-based restricted share grant valued at the target amount of $300,000. For one-half of such performance-based restricted shares, the measurement period would be from 1/1/16 to 12/31/18, and for the remaining one-half of such performance-based restricted shares, the measurement period would be from 7/1/16 to 6/31/19. The earned performance-based shares will be issued and fully vested at the end of the respective measurement periods, 1/1/19 and 7/1/19, respectively. Dividends will be paid for shares earned during the performance period.
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3.
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One-time Signing Bonus - A one-time signing bonus in the amount of $200,000 to be paid during the second quarter of 2016.
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1.
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Change in Control Severance Agreement, a form of which agreement is attached.
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2.
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Indemnification Agreement, a form of which agreement is attached.
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1.
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Coverage under the Company's health and life insurance program, which is currently placed with CareFirst
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This will take place the day you start your employment with the Company. The health, dental and life insurance package premiums are paid by the Company. Detailed information on the insurance program will be provided to you when you fill out the necessary applications.
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2.
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Participation in the Company’s Savings and Retirement Plan, which begins after you meet certain eligibility requirements. Under this 401(k) Plan, an employee may elect to contribute both pretax and after-tax earnings through payroll deduction each year. The Company provides a matching contribution of 100% on the first 4% of pretax funds saved by the employee after the employee meets additional eligibility requirements. All employee and Company contributions are 100% vested immediately. Additional details will be provided upon acceptance of this offer.
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3.
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Eligibility in LaSalle Hotel Properties’ Employee Rate Program.
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7550 Wisconsin Avenue, 10
th
Floor, Bethesda, MD 20814
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PH 301.941.1500, FX 301.941.1553
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www.lasallehotels.com
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News Release
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