0000950123-10-101837 Sample Contracts

ADVISORY AGREEMENT
Advisory Agreement • November 5th, 2010 • Carey W P & Co LLC • Real estate • New York

THIS ADVISORY AGREEMENT, dated as of September 15, 2010, is among CAREY WATERMARK INVESTORS INCORPORATED, a Maryland corporation (“CWI”), CWI OP, LP, a Delaware limited partnership of which CWI is a general partner (the “Operating Partnership”), and CAREY LODGING ADVISORS, LLC, a Delaware limited liability company (the “Advisor”).