Common use of RELATIONSHIP WITH DIRECTORS Clause in Contracts

RELATIONSHIP WITH DIRECTORS. There shall be no limitation on any shareholder, member, director, officer, or employee of the Advisor or its Affiliates serving as a Director or an officer of CWI 2, except that no employee of the Advisor or its Affiliates who is also a Director or officer of CWI 2 shall receive any compensation from CWI 2 for serving as a Director or officer other than for (a) reasonable reimbursement for travel and related expenses incurred in attending meetings of the Board and (b) awards made pursuant to the Incentive Plans; for the avoidance of doubt, the limitations of this Section 8 shall not apply to any compensation paid by the Advisor or any Affiliate for which CWI 2 reimbursed the Advisor or Affiliate in accordance with Section 10 hereof. However, an employee of the Advisor who is also an officer of CWI 2 is eligible to receive restricted stock units as provided under the Incentive Plans.

RELATIONSHIP WITH DIRECTORS. There shall be no limitation on any shareholder, member, director, officer, or employee of the Advisor or its Affiliates serving as a Director or an officer of CWI 2CWI, except that no employee of the Advisor or its Affiliates who is also a Director or officer of CWI 2 shall receive any compensation from CWI 2 for serving as a Director or officer other than for (a) reasonable reimbursement for travel and related expenses incurred in attending meetings of the Board and (b) awards made pursuant to the Incentive Plans; for the avoidance of doubt, the limitations of this Section 8 shall not apply to any compensation paid by the Advisor or any Affiliate for which CWI 2 reimbursed the Advisor or Affiliate in accordance with Section 10 hereof. However, an employee of the Advisor who is also an officer of CWI 2 is eligible to receive restricted stock units as provided under the Incentive Plans.

RELATIONSHIP WITH DIRECTORS. There shall be no limitation on any shareholder, member, director, officer, or employee of the Advisor or its Affiliates serving as a Director or an officer of CWI 21, except that no employee of the Advisor or its Affiliates who is also a Director or officer of CWI 2 1 shall receive any compensation from CWI 2 1 for serving as a Director or officer other than for (a) reasonable reimbursement for travel and related expenses incurred in attending meetings of the Board and (b) awards made pursuant to the Incentive Plans; for the avoidance of doubt, the limitations of this Section 8 shall not apply to any compensation paid by the Advisor or any Affiliate for which CWI 2 1 reimbursed the Advisor or Affiliate in accordance with Section 10 hereof. However, an employee of the Advisor who is also an officer of CWI 2 1 is eligible to receive restricted stock units as provided under the Incentive Plans.

RELATIONSHIP WITH DIRECTORS. There shall be no limitation on any shareholder, member, director, officer, or employee of the Advisor or its Affiliates serving as a Director or an officer of CWI 2CWI, except that no employee of the Advisor or its Affiliates who is also a Director or officer of CWI 2 shall receive any compensation from CWI 2 for serving as a Director or officer other than for (a) reasonable reimbursement for travel and related expenses incurred in attending meetings of the Board and (b) awards made pursuant to the CWI’s 2008 Equity Incentive PlansPlan; for the avoidance of doubt, the limitations of this Section 8 shall not apply to any compensation paid by the Advisor or any Affiliate for which CWI 2 reimbursed the Advisor or Affiliate in accordance with Section 10 hereof. However, an employee of the Advisor who is also an officer of CWI 2 is eligible to receive restricted stock units as provided under the CWI’s Equity Incentive PlansPlan.