0001193125-06-151183 Sample Contracts

SUNSTONE HOTEL INVESTORS, INC. (a Maryland corporation) 4,000,000 Shares of Common Stock PURCHASE AGREEMENT
Purchase Agreement • July 24th, 2006 • Sunstone Hotel Investors, Inc. • Hotels & motels • New York

Notwithstanding anything herein to the contrary, if (i) during the last 17 days of the Lock-up Period, the Company issues an earnings release or material news or a material event relating to the Company occurs or (ii) prior to the expiration of the Lock-up Period, the Company announces that it will release earnings during the 16-day period beginning on the last day of the Lock-up Period, the restrictions imposed by the preceding sentence shall continue to apply until the expiration of the 18-day period beginning on the issuance of the earnings release or the occurrence of the material news or material event unless the Representative shall consent in writing to an earlier termination of such restrictions.

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CONFIRMATION
Sunstone Hotel Investors, Inc. • July 24th, 2006 • Hotels & motels

This Confirmation evidences a complete binding agreement between you and us as to the terms of the Transaction to which this Confirmation relates. This Confirmation shall supplement, form a part of, and be subject to an agreement in the form of the 1992 ISDA Master Agreement (Multicurrency-Cross Border) (“ISDA Agreement”) as if we had executed an agreement in such form on the Trade Date of the first such Transaction between you and us, and such agreement shall be considered the “Agreement” hereunder.

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