RLJ Lodging Trust Announces Amendment to Employment Agreement for Chief Operating Officer Thomas Bardenett

On December 20, 2024, RLJ Lodging Trust revealed in a recent 8-K filing with the Securities and Exchange Commission that the company, along with its operating partnership RLJ Lodging Trust, L.P., has entered into a second amended and restated employment agreement with Thomas Bardenett. In the agreement, Mr. Bardenett serves as the Executive Vice President and Chief Operating Officer of RLJ Lodging Trust.

The newly minted employment agreement, known as the “Bardenett Employment Agreement,” effectively replaces a previous iteration and remains consistent with its prior terms and conditions. Mr. Bardenett will continue his role as the Executive Vice President and Chief Operating Officer under this agreement.

Effective December 20, 2024, the Bardenett Employment Agreement spans until February 2029, including the automatic renewal clause. Mr. Bardenett’s annual base salary of $565,000 remains intact, subject to potential annual increments. Additionally, he is entitled to an annual cash bonus, with a target bonus equivalent to 100% of his current base salary, along with ongoing equity incentive grants.

Furthermore, the Bardenett Employment Agreement outlines Mr. Bardenett’s entitlement to severance pay and benefits upon the termination of his employment. It also contains standard non-compete and non-solicitation provisions applicable during his tenure and for 12 months post the conclusion or termination of his employment.

The filing includes Exhibit 10.1, which attaches a copy of the Bardenett Employment Agreement, providing deeper insights into the terms discussed above.

Regarding financial statements and exhibits, the filing notes that only one exhibit was attached:
– Exhibit 10.1: Second Amended and Restated Employment Agreement, effective December 20, 2024, involving RLJ Lodging Trust, RLJ Lodging Trust, L.P., and Thomas Bardenett

Included within the document is an Interactive Data File (Cover Page), which is integrated within the Inline XBRL compilation.

As of December 23, 2024, Leslie D. Hale, President, and Chief Executive Officer of RLJ Lodging Trust, has signed the report on behalf of the company in accordance with the Securities Exchange Act of 1934.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read RLJ Lodging Trust’s 8K filing here.

About RLJ Lodging Trust

RLJ Lodging Trust is a self-advised, publicly traded real estate investment trust that owns primarily premium-branded, high-margin, focused-service and compact full-service hotels. The Company's portfolio currently consists of 96 hotels with approximately 21,200 rooms, located in 23 states and the District of Columbia and an ownership interest in one unconsolidated hotel with 171 rooms.