Exhibit 10.10


 


LOANCORE
REALTY TRUST, INC. 


2015
Equity Incentive Plan





Restricted Stock Award Agreement


 


LoanCore Realty Trust, Inc., a Maryland corporation
(the “Company”), hereby grants to [●] (the “Holder”) as of [●], 2015 (the “Grant
Date”), pursuant to the terms and conditions of the LoanCore Realty Trust, Inc. 2015 Equity Incentive Plan (the “Plan”),
a restricted stock award (the “Award”) of [●] shares of the Company’s common stock, par value $0.01
per share (“Common Stock”), upon and subject to the restrictions, terms and conditions set forth in the
Plan and this agreement (this “Agreement”).


 


1.              
Award Subject to Acceptance of Agreement. The Award shall be null and void unless the Holder accepts this Agreement
by executing it in the space provided below and returning such original execution copy to the Company.


 


2.              
Rights as a Stockholder. Except as otherwise provided in this Agreement, the Holder shall have all rights as a stockholder
of the Company, including, but not limited to, voting rights, the right to receive dividends and the right to participate in any
capital adjustment applicable to all holders of Common Stock; provided, however, that a distribution with respect to shares of
Common Stock, other than a regular cash dividend, shall be deposited with the Company and shall be subject to the same restrictions
as the shares of Common Stock with respect to which such distribution was made.


 


3.              
Restriction Period and Vesting.


 


3.1.           
Service-Based Vesting Condition. Except as otherwise provided in this Section 3, the Award shall vest in its
entirety on the one-year anniversary of the Grant Date, provided the Holder continues to serve as a director of the Company through
the applicable vesting date. The period of time prior to the vesting shall be referred to herein as the “Restriction Period.”


 


3.2.           
Change in Control. Upon a Change in Control, the Award shall be subject to Section 5.8 of the Plan.


 


3.3.           
Termination of Service as a Director. If the Holder’s service as a director of the Company terminates prior
to the end of the Restriction Period for any reason, then the portion of the Award that was not vested immediately prior to such
termination of service as a director of the Company shall be immediately forfeited by the Holder and cancelled by the Company.


 


4.              
Delivery of Certificates Representing Shares of Common Stock. Subject to Section 6, the Company shall hold
the certificate or certificates representing the shares of Common Stock subject to the Award until such Award shall have vested,
in whole or in part, pursuant to Section 3, and the Company shall as soon thereafter as practicable, subject to Section
6.1, deliver the certificate or certificates for the vested shares of Common Stock to the Holder. The Company shall pay all
original issue or transfer taxes and all fees and expenses incident to such delivery, except as otherwise provided in Section
6.


 



    	 



    	 



    




5.              
Additional Terms and Conditions of Award.


 


5.1.           
Nontransferability of Award. Prior to the date on which shares of Common Stock subject to this Award have become
vested pursuant to Section 3, such shares of Common Stock may not be offered, sold, transferred, assigned, pledged, hypothecated,
encumbered or otherwise disposed of (whether by operation of law or otherwise) by the Holder or be subject to execution, attachment
or similar process, except for transfers (i) by will, the laws of descent and distribution or pursuant to beneficiary designation
procedures approved by the Company, or (ii) to the Holder’s family members, a trust or entity established by the Holder for
estate planning purposes or a charitable organization designated by Holder or pursuant to a qualified domestic relations order,
in each case, without consideration. Any attempt to so sell, transfer, assign, pledge, hypothecate, encumber or otherwise dispose
of such shares of Common Stock other than as permitted hereunder shall be null and void.


 


5.2.           
Investment Representation. The Holder hereby represents and covenants that (a) any share of Common Stock acquired
pursuant to this Agreement will be acquired for investment and not with a view to the distribution thereof within the meaning of
the Securities Act of 1933, as amended (the “Securities Act”), unless such acquisition has been registered under
the Securities Act and any applicable state securities laws; (b) any subsequent sale of any such shares of Common Stock shall be
made either pursuant to an effective registration statement under the Securities Act and any applicable state securities laws,
or pursuant to an exemption from registration under the Securities Act and such state securities laws; and (c) if requested by
the Company, the Holder shall submit a written statement, in form satisfactory to the Company, to the effect that such representation
(x) is true and correct as of the date of vesting of any shares of Common Stock hereunder or (y) is true and correct as of the
date of any sale of any such share of Common Stock, as applicable. As a further condition precedent to the delivery to the Holder
of any shares of Common Stock subject to the Award, the Holder shall comply with all regulations and requirements of any regulatory
authority having control of or supervision over the issuance or delivery of the shares of Common Stock and, in connection therewith,
shall execute any documents which the Board shall in its sole discretion deem necessary or advisable.


 


6.              
Additional Terms and Conditions of Award


 


6.1.           
Withholding Taxes. To the extent applicable:


 


(a)      The Company shall have the right to require, prior
to the issuance or delivery of any shares of Common Stock upon the vesting of the Award, payment by the Holder of such Award of
any federal, state, local or other taxes which may be required to be withheld or paid in connection with such Award (the “Required
Tax Payments”).


 


(b)     The Holder may satisfy his or her obligation to advance
the Required Tax Payments by any of the following means: (1) a cash payment to the Company, (2) delivery (either actual delivery
or by attestation procedures established by the Company) to the Company of previously owned whole shares of Common Stock having
an aggregate Fair Market Value, determined as of the Tax Date, equal to the Required Tax Payments, (3) authorizing the Company
to withhold whole shares of Common Stock which would otherwise be delivered, or an amount of cash which would otherwise be payable
to the Holder, having an aggregate Fair Market Value, determined as of the Tax Date, equal to the Required Tax Payments or (4)
any combination of (1), (2) and (3). Shares of Common Stock to be delivered or withheld may not have an aggregate Fair Market Value
in excess of the amount determined by applying the minimum statutory withholding rate. Any fraction of a share of Common Stock
which would be required to satisfy such an obligation shall be disregarded and the remaining amount due shall be paid in cash by
the Holder.


 






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6.2.           
Adjustment. In the event of any equity restructuring (within the meaning of Financial Accounting Standards Board
Accounting Standards Codification Topic 718, Compensation-Stock Compensation) that causes the per share value of shares of Common
Stock to change, such as a stock dividend, stock split, spinoff, rights offering or recapitalization through an extraordinary dividend,
the terms of this Award, including the number and class of securities subject hereto, shall be appropriately adjusted by the Board.
In the event of any other change in corporate capitalization, including a merger, consolidation, reorganization, or partial or
complete liquidation of the Company, such equitable adjustments described in the foregoing sentence may be made as determined to
be appropriate and equitable by the Board (or, if the Company is not the surviving corporation in any such transaction, the board
of directors of the surviving corporation) to prevent dilution or enlargement of rights of participants. The decision of the Board
regarding any such adjustment shall be final, binding and conclusive.


 


6.3.           
Compliance with Applicable Law. The Award is subject to the condition that if the listing, registration or qualification
of the shares of Common Stock subject to the Award upon any securities exchange or under any law, or the consent or approval of
any governmental body, or the taking of any other action is necessary or desirable as a condition of, or in connection with, the
vesting or delivery of shares of Common Stock hereunder, the shares of Common Stock subject to the Award shall not vest or be delivered,
in whole or in part, unless such listing, registration, qualification, consent, approval or other action shall have been effected
or obtained, free of any conditions not acceptable to the Company. The Company agrees to use reasonable efforts to effect or obtain
any such listing, registration, qualification, consent, approval or other action.


 


6.4.           
Award Confers No Rights to Continued Service. In no event shall the granting of the Award or its acceptance by the
Holder, or any provision of the Agreement or the Plan, give or be deemed to give the Holder any right to continued service as a
director of the Company, any Subsidiary or any affiliate of the Company, including the Manager, or affect in any manner the right
of the Company, any Subsidiary or any affiliate of the Company, including the Manager, to terminate the employment or service of
any person at any time.


 


6.5.           
Interpretation. Any dispute regarding the interpretation of this Agreement shall be submitted by the Holder or by
the Company forthwith to the Committee for review. The resolution of such a dispute by the Committee shall be final and binding
on all parties.


 


6.6.           
Successors and Assigns. The Company may assign any of its rights under this Agreement to single or multiple assignees,
and this Agreement shall inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer
herein set forth, this Agreement shall be binding upon the Holder and his or her heirs, executors, administrators, successors and
assigns.


 






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6.7.           
Section 83(b) Election. By accepting this Agreement, Holder acknowledges his or her understanding that Holder may
file with the Internal Revenue Service an election pursuant to section 83(b) of the Internal Revenue Code of 1986, as amended (the
“Code”) (a “Section 83(b) Election”), no later than 30 days after the Grant Date, to include
in his or her gross income the fair market value of the unvested shares of Common Stock subject to the Award as of the Grant Date.
Before filing a Section 83(b) Election with the Internal Revenue Service, the Holder shall (i) notify the Company of such election
by delivering to the Company a copy of the fully-executed Section 83(b) Election Form attached hereto as Exhibit A, and
(ii) pay to the Company an amount sufficient to satisfy any taxes or other amounts required by any governmental authority to be
withheld or paid over to such authority with respect to such unvested shares of Common Stock, or otherwise make arrangements satisfactory
to the Company for the payment of such amounts through withholding or otherwise.


 


6.8.           
Notices. All notices, requests or other communications provided for in this Agreement shall be made, if to the Company,
to LoanCore Realty Trust, Inc., Attn: Chief Financial Officer, 55 Railroad Avenue, Suite 100, Greenwich, Connecticut 06830, and
if to the Holder, to the last known mailing address of the Holder contained in the records of the Company. All notices, requests
or other communications provided for in this Agreement shall be made in writing either (a) by personal delivery, (b) by facsimile
or electronic mail with confirmation of receipt, (c) by mailing in the United States mail or (d) by express courier
service. The notice, request or other communication shall be deemed to be received upon personal delivery, upon confirmation of
receipt of facsimile or electronic mail transmission or upon receipt by the party entitled thereto if by United States mail or
express courier service; provided, however, that if a notice, request or other communication sent to the Company
is not received during regular business hours, it shall be deemed to be received on the next succeeding business day of the Company.


 


6.9.           
Governing Law. This Agreement, the Award and all determinations made and actions taken pursuant hereto and thereto,
to the extent not governed by the laws of the United States, shall be governed by the laws of the State of Maryland and construed
in accordance therewith without giving effect to principles of conflicts of laws.


 


6.10.       
Agreement Subject to the Plan. This Agreement is subject to the provisions of the Plan, and shall be interpreted
in accordance therewith. The Holder hereby acknowledges receipt of a copy of the Plan, and by signing and returning this Agreement
to the Company, at the address stated herein, it agrees to be bound by the terms and conditions of this Agreement and the Plan.


 


6.11.       
Entire Agreement. The Plan is incorporated herein by reference. Capitalized terms not defined herein shall have the
meanings specified in the Plan. This Agreement and the Plan constitute the entire agreement of the parties with respect to the
subject matter hereof and supersede in their entirety all prior undertakings and agreements of the Company and Holder with respect
to the subject matter hereof, and may not be modified adversely to the Holder’s interest except by means of a writing signed
by the Company and the Holder.


 






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6.12.       
Partial Invalidity. The invalidity or unenforceability of any particular provision of this Agreement shall not affect
the other provisions hereof and this Agreement shall be construed in all respects as if such invalid or unenforceable provision
was omitted.


 


6.13.       
Amendment and Waiver. The provisions of this Agreement may be amended or waived only by the written agreement of
the Company and the Holder, and no course of conduct or failure or delay in enforcing the provisions of this Agreement shall affect
the validity, binding effect or enforceability of this Agreement.


 


6.14.       
Counterparts. This Agreement may be executed in two counterparts each of which shall be deemed an original and both
of which together shall constitute one and the same instrument.


 





	 	LOANCORE REALTY TRUST, INC.
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:



 


Accepted this [●]th day of [●], 2015


 


______________________________

[●]


 






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Exhibit A - Sample 83(b) Election


 


Election
to Include Value of Restricted Property 

in Gross Income 


in
Year of Transfer Under Code Section 83(b)


 


The undersigned hereby elects pursuant to
Section 83(b) of the Internal Revenue Code of 1986, as amended (the “Code”), to include the value of the property
described below in gross income in the year of transfer and supplies the following information in accordance with the regulations
promulgated thereunder:


 


1. The name, address and taxpayer identification number of
the undersigned are:


 


[Name] 


[Address] 


[Social Security Number]


 


2. Description of the property with respect to which the
election is being made:


 


__________ shares of Common Stock of LoanCore Realty
Trust, Inc., a Maryland corporation, granted to the undersigned as restricted stock.


 


3. The date on which the property was transferred is [insert
grant date] (the “Grant Date”).


 


The taxable year to which this election relates is
calendar year [___]


 


4. The nature of the restrictions to which the property is
subject is:


 


The property shall vest shall vest in its entirety
on the one-year anniversary of the Grant Date, provided the taxpayer continues to serve as a director of LoanCore Realty Trust,
Inc. through the applicable vesting date.


 


5. Fair market value:


 


The fair market value (determined without regard to
any restrictions) of the property with respect to which this election is being made was $[_____] per share at the time of transfer.


 


6. Amount paid for property:


 


The taxpayer has paid $0 for the property.


 


7. Furnishing statement to employer:


 


A copy of this statement has been furnished
to LoanCore Realty Trust, Inc.


 





	Dated:	 	 	 



 


 






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