Document:

EX-10.1

 Exhibit 10.1 

EXECUTION VERSION 
 THE KRAFT HEINZ
COMPANY 
 KRAFT HEINZ FOODS COMPANY 
 JPMorgan
Chase Bank, N.A. 
 JPM Loan & Agency Services 
 500
Stanton Christiana Road, NCC 5, 1st Floor 
 Newark, DE 19713-2107 

Attention of Michelle Keesee 
 Lenders under the Credit Agreement
referred to below 
 April 9, 2021 

Revolving Maturity Date Extension 

Reference is made to the Credit Agreement dated as of July 6, 2015, as amended by the First Amendment dated as of May 4, 2016 and
the Second Amendment dated as of June 15, 2018, as extended on March 23, 2020 and as amended by the Commitment Increase Amendment dated as of October 9, 2020 (as so amended and as otherwise heretofore amended, the “Credit
Agreement”), among The Kraft Heinz Company, a Delaware corporation (“Kraft Heinz”), Kraft Heinz Foods Company, a Pennsylvania limited liability company (the “Parent Borrower” and, together with Kraft Heinz,
the “Companies”), the lenders party thereto, JPMorgan Chase Bank, N.A. (“JPMorgan”), as administrative agent, and J.P. Morgan Europe Limited, as London agent. Capitalized terms used but not defined herein shall have
the meanings set forth in the Credit Agreement. 
 The Parent Borrower has requested that the Revolving Lenders agree to extend the
scheduled Revolving Maturity Date from July 6, 2024 to July 6, 2025 (the “Extension”). In connection with the Extension, each of JPMorgan, Barclays Bank PLC, Citibank, N.A., RBC Capital Markets1, BofA Securities, Inc., Morgan Stanley Senior Funding, Inc. and Wells Fargo Securities, LLC is appointed as a joint lead arranger and joint bookrunner for the Extension. 

Each of the undersigned Revolving Lenders hereby agrees (in the case of any such Revolving Lender that is also an Issuing Bank or a Swingline
Lender, both in its capacity as a Revolving Lender and as an Issuing Bank and/or a Swingline Lender, as applicable) that, from and after the Extension Effective Date (as defined below), the term “Revolving Maturity Date” set forth in the
Credit Agreement shall be amended, solely as to the Revolving Lenders (including, as applicable, in their capacities as Issuing Banks and Swingline Lenders) agreeing to the Extension and their successors and assigns, to replace the phrase “the
date that is five years after the Second Amendment Effective Date” or “July 6, 2024” with “July 6, 2025”. 
 Each
of the undersigned Revolving Lenders hereby waives, in each case solely with respect to the Extension, (a) the requirement set forth in Section 2.10(b)(i) of the Credit Agreement that the notice by the Parent Borrower requesting the
Extension be delivered at least 30 days but not more than 45 days prior to an anniversary of the Second Amendment Effective Date, it being agreed by the parties hereto that the notice heretofore delivered by the Parent Borrower to the Administrative
Agent in connection with the Extension shall be deemed to satisfy such requirement, and (b) the provisions set forth in Section 2.10(b)(iii) of the Credit Agreement that condition the effectiveness of any extension of the Revolving
Maturity Date effected under Section 2.10(b) of the Credit Agreement on the satisfaction of 
  

	1 	 RBC Capital Markets is a brand name for the capital markets business of Royal Bank of Canada and its
affiliates. 

 
the conditions in Sections 3.03(a) and 3.03(b) of the Credit Agreement as of the Extension Date (as defined in the Credit Agreement), it being agreed by the parties hereto that such
condition shall be deemed to be replaced in its entirety with the condition set forth in clause (b) in the next succeeding paragraph. Except as set forth in the immediately preceding sentence, for all purposes of the Credit Agreement the
Extension shall be deemed to be made under, and shall be subject to the provisions of, Section 2.10(b) of the Credit Agreement. 
 The
Extension shall become effective on the first date (the “Extension Effective Date”) on which each of the following conditions shall have been satisfied or waived: 

(a)    the Administrative Agent shall have executed this letter agreement and shall have received from the
Parent Borrower, Kraft Heinz and the Revolving Lenders constituting at least a Majority in Interest of the Revolving Lenders either (i) a counterpart of this letter agreement signed on behalf of such Person or (ii) evidence satisfactory to
the Administrative Agent (which may include a facsimile or electronic image scan transmission) that such party has signed a counterpart of this letter agreement; 

(b)    the Administrative Agent shall have received a certificate of a duly authorized officer of Kraft
Heinz, dated the Extension Effective Date, to the effect that, on and as of the Extension Effective Date, (i) the representations and warranties contained in Section 4.01 of the Credit Agreement (with such representations and warranties
being deemed, for purposes of this clause (b), to include a reference to this letter agreement after each reference to the Credit Agreement in the text thereof) are correct in all material respects, before and after giving effect to the amendments
set forth herein, as though made on and as of such date; provided that any representation and warranty that is qualified as to “materiality” or “Material Adverse Effect” or by similar language shall be true and correct in
all respects on such date, and (ii) no Default or Event of Default has occurred and is continuing as of such date; and 

(c)    the Administrative Agent shall have received all fees and other amounts due and payable in
connection with the Extension to JPMorgan Chase Bank, N.A. or the Revolving Lenders party hereto and, to the extent invoiced, reimbursement or payment of all reasonable
out-of-pocket expenses (including reasonable fees, charges and disbursements of counsel) required to be reimbursed or paid by Kraft Heinz and the Parent Borrower under
the Credit Agreement. 
 The Administrative Agent shall notify Kraft Heinz, the Parent Borrower and the Lenders of the Extension Effective
Date, and such notice shall be conclusive and binding. 
 Each of Kraft Heinz and the Parent Borrower hereby (a) acknowledges and
agrees that Guaranteed Obligations (as defined in the Holdco Guaranty Agreement) and Designated Subsidiary Obligations shall, following the occurrence of the Extension Effective Date, be determined after giving effect to this letter agreement and
shall include all the obligations of the Borrowers or the Designated Subsidiaries, as the case may be, under the Credit Agreement as amended hereby and (b) affirms and confirms its guarantee and other obligations under the Holdco Guaranty
Agreement or under Article VIII of the Credit Agreement, as the case may be, and agrees that its guarantee and other obligations under the Holdco Guaranty Agreement or under such Article, as the case may be, shall continue to be in full force and
effect following the effectiveness of this letter agreement. 
 THIS LETTER AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
WITH, THE SUBSTANTIVE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CHOICE OF LAW DOCTRINES. 

  
 2 

 This letter agreement constitutes the entire contract among the parties relating to the
subject matter hereof. Except as expressly set forth herein, all the terms and provisions of the Credit Agreement are and shall remain in full force and effect. The amendments contained herein shall not constitute a waiver, amendment or modification
of any provision of the Credit Agreement except as expressly set forth herein. This Agreement may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to
be an original and all of which taken together shall constitute one and the same agreement. The words “execution”, “signed”, “signature”, “delivery” and words of like import in or relating to this Fee Letter
and the transactions contemplated hereby shall be deemed to include Electronic Signatures, deliveries or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed
signature, physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be. “Electronic Signatures” means any electronic symbol or process attached to, or associated with, any contract or other record
and adopted by a person with the intent to sign, authenticate or accept such contract or record. On and after the Extension Effective Date, (a) each reference in the Credit Agreement to “this Agreement”, “hereunder”,
“hereof” or words of like import referring to the Credit Agreement shall mean and be a reference to the Credit Agreement as amended hereby and (b) each reference in the Holdco Guaranty Agreement or any Note to the Credit Agreement
shall mean and be a reference to the Credit Agreement as amended hereby. 
 The provisions of Sections 9.03, 9.04(a), 9.04(c), 9.06, 9.11
and 9.16 of the Credit Agreement are hereby incorporated by reference as if set forth in full herein, mutatis mutandis. 

  
 3 

 IN WITNESS WHEREOF, the parties hereto have caused this letter agreement to be duly executed
by their respective authorized officers as of the date first above written. 
  

			
	THE KRAFT HEINZ COMPANY,
		
	by	 	/s/ Yang Xu
		 	Name: Yang Xu
		 	Title: Treasurer
	
	KRAFT HEINZ FOODS COMPANY,
		
	by	 	/s/ Yang Xu
		 	Name: Yang Xu
		 	Title: Treasurer

  
 [Signature Page to
Extension Letter Agreement] 

 
			
	JPMORGAN CHASE BANK N.A., individually and as Administrative Agent
		
	by	 	/s/ Gregory T. Martin
		 	Name: Gregory T. Martin
		 	Title: Executive Director

  
 [Signature Page to
Extension Letter Agreement] 

 SIGNATURE PAGE TO 

REVOLVING MATURITY DATE EXTENSION 

LETTER AGREEMENT TO 
 CREDIT AGREEMENT
OF 
 THE KRAFT HEINZ COMPANY AND 

KRAFT HEINZ FOODS COMPANY 
  

			
	BARCLAYS BANK PLC
		
	 	 	/s/ Christopher M. Aitkin
	    Name:	 	Christopher M. Aitkin
	    Title:	 	Vice President

 SIGNATURE PAGE TO 

REVOLVING MATURITY DATE EXTENSION 

LETTER AGREEMENT TO 
 CREDIT AGREEMENT
OF 
 THE KRAFT HEINZ COMPANY AND 

KRAFT HEINZ FOODS COMPANY 
  

 
			
	Citibank, N.A.
		
	 	 	/s/ Carolyn A. Kee
	    Name:	 	Carolyn A. Kee
	    Title:	 	Vice President

 SIGNATURE PAGE TO 

REVOLVING MATURITY DATE EXTENSION 

LETTER AGREEMENT TO 
 CREDIT AGREEMENT
OF 
 THE KRAFT HEINZ COMPANY AND 

KRAFT HEINZ FOODS COMPANY 
  

 Royal Bank of Canada (with each Revolving Lender that is an Issuing Bank or a Swingline Lender executing both
in its capacity as a Revolving Lender and as an Issuing Bank and/or a Swingline Lender, as applicable): 
  

			
	 	 	/s/ John Flores
	    Name:	 	John Flores
	    Title:	 	Authorized Signatory

 SIGNATURE PAGE TO 

REVOLVING MATURITY DATE EXTENSION 

LETTER AGREEMENT TO 
 CREDIT AGREEMENT
OF 
 THE KRAFT HEINZ COMPANY AND 

KRAFT HEINZ FOODS COMPANY 
  

 Name of Revolving Lender (with each Revolving Lender that is an Issuing Bank or a Swingline Lender executing
both in its capacity as a Revolving Lender and as an Issuing Bank and/or a Swingline Lender, as applicable): 
  

			
	Wells Fargo Bank, National Association
		
	by	 	 /s/ Mark Holm

		 	Name: Mark Holm
		 	Title: Managing Director

 SIGNATURE PAGE TO 

REVOLVING MATURITY DATE EXTENSION 

LETTER AGREEMENT TO 
 CREDIT AGREEMENT
OF 
 THE KRAFT HEINZ COMPANY AND 

KRAFT HEINZ FOODS COMPANY 
  

 Name of Revolving Lender (with each Revolving Lender that is an Issuing Bank or a Swingline Lender executing
both in its capacity as a Revolving Lender and as an Issuing Bank and/or a Swingline Lender, as applicable): 
  

			
	BANK OF AMERICA, N.A.
		
	 	 	/s/ Casey Cosgrove
	    Name:	 	Casey Cosgrove
	    Title:	 	Director

 SIGNATURE PAGE TO 

REVOLVING MATURITY DATE EXTENSION 

LETTER AGREEMENT TO 
 CREDIT AGREEMENT
OF 
 THE KRAFT HEINZ COMPANY AND 

KRAFT HEINZ FOODS COMPANY 
  

 Name of Revolving Lender (with each Revolving Lender that is an Issuing Bank or a Swingline Lender executing
both in its capacity as a Revolving Lender and as an Issuing Bank and/or a Swingline Lender, as applicable): 
  

			
	MORGAN STANLEY BANK, N.A.
		
	 	 	/s/ Michael King
	    Name:	 	Michael King
	    Title:	 	Authorized Signatory

 SIGNATURE PAGE TO 

REVOLVING MATURITY DATE EXTENSION 

LETTER AGREEMENT TO 
 CREDIT AGREEMENT
OF 
 THE KRAFT HEINZ COMPANY AND 

KRAFT HEINZ FOODS COMPANY 
  

 Name of Revolving Lender (with each Revolving Lender that is an Issuing Bank or a Swingline Lender executing
both in its capacity as a Revolving Lender and as an Issuing Bank and/or a Swingline Lender, as applicable): 
  

			
	 MUFG Bank, Ltd. (formerly known as The Bank of

Tokyo-Mitsubishi UFJ, Ltd.)

		
	 	 	/s/ Reema Sharma
	    Name:	 	Reema Sharma
	    Title:	 	Authorized Signatory

 SIGNATURE PAGE TO 

REVOLVING MATURITY DATE EXTENSION 

LETTER AGREEMENT TO 
 CREDIT AGREEMENT
OF 
 THE KRAFT HEINZ COMPANY AND 

KRAFT HEINZ FOODS COMPANY 
  

 Name of Revolving Lender: BNP Paribas 

 

			
	 	 	/s/ Michael Pearce
	    Name:	 	Michael Pearce
	    Title:	 	Managing Director
		
	By	 	 /s/ David Foster

	    Name:	 	David Foster
	    Title:	 	Director

 SIGNATURE PAGE TO 

REVOLVING MATURITY DATE EXTENSION 

LETTER AGREEMENT TO 
 CREDIT AGREEMENT
OF 
 THE KRAFT HEINZ COMPANY AND 

KRAFT HEINZ FOODS COMPANY 
  

 Name of Revolving Lender (with each Revolving Lender that is an Issuing Bank or a Swingline Lender executing
both in its capacity as a Revolving Lender and as an Issuing Bank and/or a Swingline Lender, as applicable): 
  

			
	Credit Agricole Corporate and Investment Bank
		
	by	 	 /s/ Gary Herzog

		 	Name: Gary Herzog
		 	Title: MANAGING DIRECTOR
		
	by	 	 /s/ Gordon Yip

		 	Name: Gordon Yip
		 	Title: Director

 SIGNATURE PAGE TO 

REVOLVING MATURITY DATE EXTENSION 

LETTER AGREEMENT TO 
 CREDIT AGREEMENT
OF 
 THE KRAFT HEINZ COMPANY AND 

KRAFT HEINZ FOODS COMPANY 
  

 
			
	CREDIT SUISSE AG, NEW YORK BRANCH, as Revolving Lender
		
	by	 	 /s/ Doreen Barr

		 	Name: Doreen Barr
		 	Title: Authorized Signatory
		
	by	 	 /s/ Brady Bingham

		 	Name: Brady Bingham
		 	Title: Authorized Signatory

 SIGNATURE PAGE TO 

REVOLVING MATURITY DATE EXTENSION 

LETTER AGREEMENT TO 
 CREDIT AGREEMENT
OF 
 THE KRAFT HEINZ COMPANY AND 

KRAFT HEINZ FOODS COMPANY 
  

 Name of Revolving Lender (with each Revolving Lender that is an Issuing Bank or a Swingline Lender executing
both in its capacity as a Revolving Lender and as an Issuing Bank and/or a Swingline Lender, as applicable): 
  

			
	DEUTSCHE BANK AG NEW YORK BRANCH
		
	by	 	 /s/ Ming K. Chu

		 	Name: Ming K. Chu        ming.k.chu@db.com
		 	Title:
Director                  
_+1-212-250-5451

 For any Revolving Lender requiring a second signature line: 

 

			
	by	 	 /s/ Marko Lukin

		 	Name: Marko Lukin         marko.lukin@db.com
		 	Title: Vice President          _+1-212-250-7283

 SIGNATURE PAGE TO 

REVOLVING MATURITY DATE EXTENSION 

LETTER AGREEMENT TO 
 CREDIT AGREEMENT
OF 
 THE KRAFT HEINZ COMPANY AND 

KRAFT HEINZ FOODS COMPANY 
  

 Name of Revolving Lender (with each Revolving Lender that is an Issuing Bank or a Swingline Lender executing
both in its capacity as a Revolving Lender and as an Issuing Bank and/or a Swingline Lender, as applicable): 
  

			
	HSBC BANK USA, N.A.
		
	by	 	 /s/ James Smith

		 	Name: James Smith
		 	Title: Vice President

 For any Revolving Lender requiring a second signature line: 

 

			
	by	 	  

		 	Name:
		 	Title:

  
 S-17 

 SIGNATURE PAGE TO 

REVOLVING MATURITY DATE EXTENSION 

LETTER AGREEMENT TO 
 CREDIT AGREEMENT
OF 
 THE KRAFT HEINZ COMPANY AND 

KRAFT HEINZ FOODS COMPANY 
  

 Name of Revolving Lender (with each Revolving Lender that is an Issuing Bank or a Swingline Lender executing
both in its capacity as a Revolving Lender and as an Issuing Bank and/or a Swingline Lender, as applicable): 
  

			
	MIZUHO BANK, LTD.
		
	by	 	 /s/ Tracy Ralm

		 	Name: Tracy Ralm
		 	Title: Executive Director

 SIGNATURE PAGE TO 

REVOLVING MATURITY DATE EXTENSION 

LETTER AGREEMENT TO 
 CREDIT AGREEMENT
OF 
 THE KRAFT HEINZ COMPANY AND 

KRAFT HEINZ FOODS COMPANY 
  

 
			
	GOLDMAN SACHS BANK USA,
		
	by	 	 /s/ Jacob Elder

		 	Name: Jacob Elder
		 	Title: Authorized Signatory

 SIGNATURE PAGE TO 

REVOLVING MATURITY DATE EXTENSION 

LETTER AGREEMENT TO 
 CREDIT AGREEMENT
OF 
 THE KRAFT HEINZ COMPANY AND 

KRAFT HEINZ FOODS COMPANY 
  

 Name of Revolving Lender (with each Revolving Lender that is an Issuing Bank or a Swingline Lender executing
both in its capacity as a Revolving Lender and as an Issuing Bank and/or a Swingline Lender, as applicable): 
  

			
	Banco Santander, S.A., New York Branch
		
	by	 	 /s/ Andres Barbosa

		 	Name: Andres Barbosa
		 	Title: Managing Director

 For any Revolving Lender requiring a second signature line: 

 

			
	by	 	 /s/ Rita Watz Cuccioli

		 	Name: Rita Watz Cuccioli
		 	Title: Executive Director

 SIGNATURE PAGE TO 

REVOLVING MATURITY DATE EXTENSION 

LETTER AGREEMENT TO 
 CREDIT AGREEMENT
OF 
 THE KRAFT HEINZ COMPANY AND 

KRAFT HEINZ FOODS COMPANY 
  

 Name of Revolving Lender (with each Revolving Lender that is an Issuing Bank or a Swingline Lender executing
both in its capacity as a Revolving Lender and as an Issuing Bank and/or a Swingline Lender, as applicable): 
  

			
	SUMITOMO MITSUI BANKING CORPORATION
		
	by	 	 /s/ Rosa Pritsch

		 	Name: Rosa Pritsch
		 	Title: Director

 For any Revolving Lender requiring a second signature line: 

 

			
	by	 	  

		 	Name:
		 	Title:

 SIGNATURE PAGE TO 

REVOLVING MATURITY DATE EXTENSION 

LETTER AGREEMENT TO 
 CREDIT AGREEMENT
OF 
 THE KRAFT HEINZ COMPANY AND 

KRAFT HEINZ FOODS COMPANY 
  

 Name of Revolving Lender (with each Revolving Lender that is an Issuing Bank or a Swingline Lender executing
both in its capacity as a Revolving Lender and as an Issuing Bank and/or a Swingline Lender, as applicable): 
  

			
	MORGAN STANLEY SENIOR FUNDING, INC.
		
	by	 	 /s/ Michael King

		 	Name: Michael King
		 	Title: Vice President

 SIGNATURE PAGE TO 

REVOLVING MATURITY DATE EXTENSION 

LETTER AGREEMENT TO 
 CREDIT AGREEMENT
OF 
 THE KRAFT HEINZ COMPANY AND 

KRAFT HEINZ FOODS COMPANY 
  

 Name of Revolving Lender (with each Revolving Lender that is an Issuing Bank or a Swingline Lender executing
both in its capacity as a Revolving Lender and as an Issuing Bank and/or a Swingline Lender, as applicable): 
  

			
	by	 	 /s/ Justine Dupont-Nivet

		 	Name: Justine Dupont-Nivet
		 	Title: Executive Director

  

			
	by	 	 /s/ Rachel Caspert

		 	Name: Rachel Caspert
		 	Title: Vice PresidentEX-4.4

 EXHIBIT 4.4 

FIRST AMENDMENT TO THE AMENDED AND RESTATED 

LIMITED PARTNERSHIP AGREEMENT OF 

GENERATION INCOME PROPERTIES, L.P. 

May 21, 2019 
 This First
Amendment (this “ Amendment”) to the Amended and Restated Limited Partnership Agreement of Generation Income Properties, L.P., a Delaware limited partnership (the “Partnership”) (as amended, the “Partnership
Agreement”), is entered into effective as of the 21st day of May, 2019, in accordance with Section 11.01 of the Partnership Agreement. Capitalized terms used but not defined herein are used as defined in the Partnership Agreement. 

R E C I T A L S 
 WHEREAS,
the General Partner is the sole general partner of the Partnership; and 
 WHEREAS, the General Partner has determined that this Amendment
is necessary and in the best interest of the Partnership. 
 NOW, THEREFORE, it is hereby agreed as follows: 

A G R E E M E N T 
 NOW,
THEREFORE, the Partnership Agreement is hereby amended as follows: 
 1. Article I. The following definitions
are added to Article I: 
 “Partnership Level Taxes” means any federal, state, or local taxes, additions to tax, penalties,
and interest payable by the Partnership as a result of a Tax Audit under the Partnership Tax Audit Rules. 
 “Covered Audit
Adjustment” means an adjustment to any partnership-related item (within the meaning of Section 6241(2)(B) of the Code) to the extent such adjustment results in an “imputed underpayment” as described in Section 6225(b) of
the Code or any analogous provision of state or local law. 
 “Election Out” means the election provided by
Section 6221(b) of the Code to have Subchapter C of Chapter 63 of Subtitle F of the Code not apply or any analogous election under state or local law. 

“Excess Tax Amount” has the meaning set forth in Section 5.02(d)(iii). 

“Imputed Underpayment Modification” means any modification under Section 6225(c) of the Code (or any analogous provision
of state or local law) to the extent that such modification is available and would reduce any Partnership Level Taxes attributable to a Covered Audit Adjustment. 

  
 1 

 “IRS” means the U.S. Internal Revenue Service. 

“Partnership Representative” has the meaning set forth in Section 10.05(b)(i). 

“Partnership Tax Audit Rules” means Sections 6221 through 6241 of the Code, as amended, together with any final or temporary
Treasury Regulations, Revenue Rulings, and case law interpreting Sections 6221 through 6241 of the Code, as amended (and any analogous provision of state or local tax law), as in effect following the enactment of the Bipartisan Budget Act of 2015.

 “Push-Out Election” means the election to apply the alternative method provided
by Section 6226 of the Code (or any analogous provision of state or local tax law). 
 “Tax Audit” or “Tax
Audits” has the meaning set forth in Section 10.05(b)(i). 
 “Tax Contribution Obligation” has the meaning
set forth in Section 5.02(d)(iii). “Tax Offset” has the meaning set forth in Section 5.02(d)(ii). 

2. Article I. The definition of “Partner” is hereby deleted in its entirety and replaced in full
as follows: 
 “ Partner ” means any General Partner or Limited Partner, and “ Partners ” means the
General Partner and the Limited Partners collectively; provided , however, that for the purposes of Sections 5.02(d) and 10.05, the term “ Partner ” means any current Partner and any former Partner, provided that a former
Partner shall be considered a Partner only as the context requires in order to effectuate the provisions of Section 10.05 such that each Partner and former Partner bears the economic burden associated with any Covered Audit Adjustment and/or
Partnership Level Taxes that relate to a taxable year (or portion thereof) in which such Partner or former Partner, as applicable, was a Partner or was treated as holding an interest in the Partnership. 

3. Section 5.01. The following subsection is added to the end of Section 5.01: 

(l) Special Tax Allocations. Items of income, gain, loss, expense or credit resulting from a Covered Audit Adjustment shall be
allocated to the Partners in accordance with the applicable provisions of the Partnership Audit Tax Rules. 
 4. Section
5.02(d). Section 5.02(d) is hereby deleted in its entirety and replaced in full as follows: 
 (d) Withholding and
Other Tax Payments by the Partnership.  
 (i) Withholding. Notwithstanding any other provision of this Agreement, each of
the General Partner, the Partnership and its Subsidiaries may withhold from distributions, allocations or portions thereof if it is required to do so by the Code or any other applicable federal, 

  
 2 

 state or local rule, regulation or law, including, without limitation, pursuant to Sections 1441, 1442, 1445
and 1446 of the Code, and each Partner hereby authorizes the General Partner, the Partnership and its Subsidiaries to withhold or pay on behalf of or with respect to such Partner any amount of federal, state, provincial, local or foreign taxes that
the General Partner determines, in good faith, that the Partnership or any of its Subsidiaries is required to withhold or pay with respect to any amount distributable or allocable to such Partner pursuant to this Agreement. To the extent that any
tax is paid by the Partnership or any of its Subsidiaries and the General Partner determines, in good faith, that such tax (including any Partnership Level Tax) relates to one or more specific Partners, such tax shall be treated as an amount of
taxes paid with respect to such Partner pursuant to this Section 10.05(d) and Section 5.02(d). Any determinations made by the General Partner pursuant to this Section 5.02(d) shall be binding upon the Partners. Notwithstanding any
provision to the contrary in this Section 5.02(d), the payment by the Partnership of Partnership Level Taxes shall, consistent with the Partnership Tax Audit Rules, be treated as the payment of a Partnership obligation and shall be treated as
paid with respect to a Partner to the extent the deduction with respect to such payment is allocated to such Partner pursuant to Section 5.01(l), and such payment shall not be treated as a withholding from distributions, allocations, or
portions thereof with respect to a Partner. 
 (ii) Tax Offset. For all purposes under this Agreement, any amounts withheld or
paid with respect to a Partner pursuant to this Section 5.02(d) (other than the payment of Partnership Level Taxes) may be offset against any distributions to which such Partner is entitled concurrently with such withholding or payment (a
“Tax Offset”); provided that the amount of any distribution subject to a Tax Offset shall be treated as having been distributed to such Partner pursuant to Section 5.02(a) or 5.02(b) at the time such Tax Offset is made.

 (iii) Tax Contribution Obligation. To the extent that (I) the amount of such Tax Offset exceeds the distributions to
which such Partner is entitled concurrently with such withholding or payment (an “Excess Tax Amount”) or (II) there is a payment of Partnership Level Taxes relating to a Partner, the amount of such (A) Excess Tax Amount or
(B) Partnership Level Taxes, as applicable, shall, in the General Partner’s sole discretion, (a) give rise to an interest-bearing obligation of such Partner to make a capital contribution to the Partnership (a “Tax
Contribution Obligation”) and/or (b) be offset against future distributions to which such Partner is entitled until such Excess Tax Amount or Partnership Level Taxes, as applicable and, in each case, with interest accrued thereon, is
reduced to zero. Any such Tax Contribution Obligation shall bear interest at the lesser of (i) 300 basis points above the base rate on corporate loans at large United States money center commercial banks, as published from time to time in The
Wall Street Journal, Eastern Addition, or (ii) the maximum lawful rate of interest on such obligation, such interest to accrue from the date such Tax Contribution Obligation arises. 

(1) If requested by the General Partner, a Partner shall promptly contribute the amount of its Tax Contribution Obligation to the
Partnership. To the extent a Partner does not contribute the amount of its Tax Contribution Obligation to the Partnership within 15 days after demand for payment thereof, the Partnership shall offset such amount (plus interest accruing at the
applicable underpayment rate for such period, as specified in Section 6621 of the Code) against distributions to which such Partner would otherwise be subsequently entitled until the Partner’s Tax Contribution Obligation (including any
interest accrued thereon) has been satisfied in full. For the avoidance of doubt, the interest on any Tax Contribution Obligation paid by a Partner to the Partnership (whether directly or by offset) under this Section 5.02(d) shall be taxable
income to the Partnership. 

  
 3 

 (2) To the extent, and at the time(s), that a Partner makes a payment to satisfy such
Partner’s Tax Contribution Obligation (including any accrued but unpaid interest thereon), such payment shall be applied first to any accrued but unpaid interest owed by such Partner, and any remaining portion shall satisfy such Partner’s
Tax Contribution Obligation and such remaining portion shall increase such Partner’s Capital Account but shall not reduce the amount that a Partner is otherwise obligated to contribute to the Partnership. Amounts recovered by the Partnership
through any offset against distributions pursuant to this Section 5.02(d) shall be applied first to any accrued but unpaid interest owed by such Partner, and thereafter offset the amount of such Partner’s Tax Contribution Obligation, and
such Partner’s Capital Account shall not be reduced to the extent such offset was against the amount of such Partner’s Tax Contribution Obligation. 

(iv) Security Interest. Each Partner hereby unconditionally and irrevocably grants to the Partnership a security interest in
such Partner’s Partnership Units to secure such Partner’s Tax Contribution Obligation. Each Partner shall take such actions as the Partnership may request in order to perfect or enforce the security interest created hereunder. 

(v) Indemnification by Partner. Each Partner hereby agrees to indemnify and hold harmless the Partnership, the other Partners,
the Partnership Representative and the General Partner from and against any liability (including any liability for Partnership Level Taxes) with respect to income attributable to or distributions or other payments to such Partner. 

(vi) Continued Obligations of Former Partners. For the avoidance of doubt, any Person who ceases to be a Partner shall be deemed
to be a Partner for purposes of this Section 5.02(d), and the obligations of a Partner pursuant to this Section 5.02(d) shall survive indefinitely with respect to any taxes withheld or paid by the Partnership that relate to the period
during which such Person was actually a Partner, regardless of whether such taxes are assessed, withheld or otherwise paid during such period. 

(vii) Discretion Regarding Recovery of Taxes. Notwithstanding the foregoing, the General Partner may choose to not recover an
amount of Partnership Level Taxes or other taxes withheld or paid with respect to a Partner under this Section 5.02(d) if the General Partner determines, in its reasonable discretion, that such an decision would be in the best interests of the
Partnership (e.g., where the cost of recovering the amount of taxes withheld or paid with respect to such Partner is not justified in light of the amount that may be recovered from such Partner). 

5. Section 10.05. Section 10.05 is hereby deleted in its entirety and
replaced in full as follows: 
 Section 10.5 Tax Classification; Partnership Representative; Tax Elections; Special Basis Adjustments. 

  
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 (a) Tax Classification. The Partnership shall be classified as a partnership for
federal income tax purposes at such time as it is deemed for such purposes to have more than one owner. Prior to such time, the Partnership shall be classified as a disregarded entity that is wholly-owned, directly and indirectly, by GIP REIT. 

(b) Designation of Partnership Representative; Scope of Duties and Authority.  

(i) The “partnership representative” (within the meaning of Section 6223(a) of the Code) (the “Partnership
Representative”) of the Partnership shall be the General Partner. The Partnership Representative shall designated from time to time a “designated individual” to act on behalf of the Partnership Representative, and such designated
individual shall be subject to replacement by the Partnership Representative in accordance with the Code and Treasury Regulations. The Partnership Representative is authorized to and shall represent the Partnership (at the Partnership’s
expense) in connection with all examinations of the Partnership ’s affairs by any federal, state, or local tax authorities, including resulting administrative and judicial proceedings (each a “Tax Audit” and collectively,
“Tax Audits”), and to expend Partnership funds for professional services and costs associated therewith. 
 (ii) In its
capacity as such, the Partnership Representative shall have the authority and discretion to exercise any and all authority of the Partnership Representative under the Code, including, without limitation, (i) binding the Partnership and its
Partners with respect to tax matters, including, but not limited to, by entering into any settlement offer, agreeing to extend statutes of limitation, and initiating litigation and, (ii) if the IRS, in connection with a Tax Audit governed by
the Partnership Tax Audit Rules, proposes a Covered Audit Adjustment, determining, in its sole discretion, whether, to the extent that such election is available under the Partnership Tax Audit Rules, to make a
Push-Out Election. 
 (iii) If the Partnership Representative changes its address, the Partnership
Representative shall promptly notify the IRS of such occurrence. If the Partnership Representative is replaced pursuant to Section 10.05(b)(i), the outgoing Partnership Representative shall take all actions required by the Partnership Tax Audit
Rules to revoke or resign its prior designation as the Partnership Representative. 
 (c) Election Out. 

(i) To the extent that the Election Out is available to the Partnership under the Partnership Tax Audit Rules, the General Partner may make
the Election Out. 
 (ii) If the Partnership Representative makes an Election Out, the Partnership shall, within thirty (30) days of
receipt of a written request, make available to any Partner, at such Partner’s expense, any information such Partner reasonably requests in connection with any Tax Audit relating to such Partner’s interest in the Partnership. Each Partner
shall inform the Partnership of any Covered Audit Adjustments to Partnership items that result from any Tax Audit of such Partner within thirty (30) days of the close of such Tax Audit. 

  
 5 

 (d) Push-Out Election; Imputed Underpayment
Modifications. 
 (i) If the Partnership Representative makes a Push-Out Election with respect
to a Covered Audit Adjustment, each Partner (including transferees or successors of any Partner) covenants and agrees that it shall (1) pay any and all resulting taxes, additions to tax, penalties and interest in a timely fashion and
(2) cooperate with the Partnership and the Partnership Representative in good faith. Notwithstanding the foregoing, if the Partnership is required to pay any tax, addition to tax, penalty, or interest following a
Push-Out Election because any portion of the applicable Covered Audit Adjustment would otherwise be subject to withholding by the Partnership under Chapters 3 or 4 of Subtitle A of the Code, any such amounts
shall be considered Partnership Level Taxes with respect to the applicable Partners subject to the provisions of Section 5.02(d). 

(ii) To the extent that the Partnership Representative does not make a Push-Out Election with respect
to a Covered Audit Adjustment, the Partnership Representative may make Imputed Underpayment Modifications (taking into account whether the Partnership Representative has received all requisite information on a timely basis from the Partners), and
each Partner shall, as requested by the Partnership Representative, take such actions as may be necessary or prudent for the Partnership Representative to seek an Imputed Underpayment Modification (including, for the avoidance of doubt, filing an
amended federal income tax return or following an alternative procedure to filing an amended federal income tax return, as described in Section 6225(c)(2) of the Code, paying any and all resulting federal income taxes in a timely fashion,
providing all necessary information to the Partnership to support the modification of the tax rate applicable to any Imputed Underpayment Modification pursuant to Section 6225(c)(4) of the Code, and providing an affidavit to the Partnership
Representative that such actions have been taken). If not otherwise sought by the Partnership Representative and if reasonably requested by a Partner, the Partnership Representative shall use commercially reasonable efforts to provide to such
Partner information allowing such Partner to file an amended federal income tax return or to follow an alternative procedure to filing an amended federal income tax return, as described in Section 6225(c)(2) of the Code, to the extent that such
amended return or alternative procedure and payment of any related taxes, additions to tax, penalties, and interest would reduce any Partnership Level Taxes attributable to the Covered Audit Adjustment. 

(iii) To the extent that the Partnership Representative does not make a Push-Out Election with respect
to a Covered Audit Adjustment, the Partnership Representative is authorized, pursuant to Section 4.03, to obtain a loan on behalf of the Partnership to pay any Partnership Level Taxes. 

(e) Cooperation. Each Partner agrees to cooperate with the Partnership Representative and to do or refrain from doing any or all things
reasonably requested by the Partnership Representative in connection with any Tax Audit. If reasonably requested by the Partnership Representative, each Partner shall deliver to the Partnership Representative: (i) any certificates, forms,
affidavits, or instruments reasonably requested by the Partnership Representative relating to such Partner’s status under any tax laws, (including, but limited to, evidence of the filing of tax returns and/or payment of tax and an affirmative
statement that such Partner’s tax status does not make the Partnership ineligible for an Election Out), and (ii) any information reasonably requested by the Partnership Representative in connection with the Partnership Tax Audit Rules
(including, 

  
 6 

 but not limited to, upper-tier shareholder specific information if a Partner is or becomes an S corporation
for federal income tax purposes, upper-tier partner specific information if a Partner is or becomes a partnership for federal income tax purposes, tax returns, information regarding the character of income as capital gain or qualified dividend
income, and information regarding passive activity losses). 
 (f) Indemnification. To the maximum extent permitted by applicable
law, the Partnership Representative will not be liable for, and will be indemnified and held harmless by the Partnership from and against, any and all loss, liability, damage, cost or expense, including reasonable attorneys’ and
accountants’ fees, suffered or incurred in defense of any demands, claims or lawsuits against the Partnership Representative in or as a result of or relating to his or its capacity, actions or omissions as the Partnership Representative, or
concerning the Partnership or any activities undertaken on behalf of the Partnership; provided that the acts or omissions of the Partnership Representative are not found by a court of competent jurisdiction upon entry of a final judgment to
have been the result of fraud or willful misconduct or, with respect to criminal matters, that the Partnership Representative had reason to believe that his conduct was unlawful. 

(g) Miscellaneous. 
 (i)
Notwithstanding anything herein to the contrary, nothing in this Agreement shall obligate the Partnership Representative to provide notice to the Partners regarding any Tax Audit other than as required by the Partnership Tax Audit Rules. The
Partners shall have no right to participate in any Tax Audit, unless the Partnership Representative gives its written consent otherwise. 

(ii) Each Partner agrees to promptly update and supplement its contact information as necessary to keep such information up-to-date, even if such Partner’s interest in the Partnership is transferred or terminated. 

(iii) The provisions of this Section 10.05, including the Partnership Representative’s authority under this Section 10.05,
shall survive the termination, dissolution, liquidation and winding up of the Partnership and the termination or transfer of any Partner’s interest in the Partnership and shall remain binding on each Partner for the period of time necessary to
resolve any Tax Audit involving or related to the Partnership. 
 (h) Tax Elections. All elections required or permitted to be made
by the Partnership under the Code or any applicable state or local tax law shall be made by the General Partner in its sole and absolute discretion. 

(i) Section 754 Election. In the event of a transfer of all or any part of the Partnership Interest of any Partner, the Partnership, at
the option of the General Partner, may elect pursuant to Section 754 of the Code to adjust the basis of the Properties. Notwithstanding anything contained in Article V of this Agreement, any adjustments made pursuant to Section 754 shall
affect only the successor in interest to the transferring Partner and in no event shall be taken into account in establishing, maintaining or computing Capital Accounts for the other Partners for any purpose under this Agreement. Each Partner will
furnish the Partnership with all information necessary to give effect to such election. 

  
 7 

 (k) Safe Harbor Election. The Partners, intending to be legally bound, hereby
authorize the Partnership to make an election (the “Safe Harbor Election”) to have the “liquidation value” safe harbor provided in Proposed Treasury Regulation Section 1.83-3(1)
and the Proposed Revenue Procedure set forth in Internal Revenue Service Notice 2005-43, as such safe harbor may be modified when such proposed guidance is issued in final form or as amended by subsequently
issued guidance (the “Safe Harbor”), apply to any interest in the Partnership transferred to a service provider while the Safe Harbor Election remains effective, to the extent such interest meets the Safe Harbor requirements
(collectively, such interests are referred to as “Safe Harbor Interests”). The Tax Matters Partner is authorized and directed to execute and file the Safe Harbor Election on behalf of the Partnership and the Partners. The Partnership and
the Partners (including any person to whom an interest in the Partnership is transferred in connection with the performance of services) hereby agree to comply with all requirements of the Safe Harbor (including forfeiture allocations) with respect
to all Safe Harbor Interests and to prepare and file all U.S. federal income tax returns reporting the tax consequences of the issuance and vesting of Safe Harbor Interests consistent with such final Safe Harbor guidance. The Partnership is also
authorized to take such actions as are necessary to achieve, under the Safe Harbor, the effect that the election and compliance with all requirements of the Safe Harbor referred to above would be intended to achieve under Proposed Treasury
Regulation Section 1.83-3, including amending this Agreement. 
 (l) REIT
Information. Each Limited Partner shall be required to provide such information as reasonably requested by the Partnership in order to determine whether such Limited Partner (i) owns, directly or constructively (within the meaning of
Section 318(a) of the Code, as modified by Section 856(d)(5) of the Code and Section 7704(d)(3) of the Code), 5% or more of the value of the Partnership or (ii) owns, directly or constructively (within the meaning of
Section 318(a) of the Code, as modified by Section 856(d) (5) of the Code and Section 7704(d)(3) of the Code), 10% or more of (a) the stock, by voting power or value, of a tenant (other than a “taxable REIT
subsidiary” within the meaning of Section 856(d) of the Code) of the Partnership that is a corporation or (b) the assets or net profits of a tenant of the Partnership that is a noncorporate entity. 

6. Exhibit A of Partnership Agreement. Exhibit A of the Partnership Agreement is hereby restated as set
forth in Exhibit A attached hereto. 
 7. Ratification. Except as expressly amended hereby, the
Partnership Agreement is hereby ratified and confirmed and shall continue in full force and effect. 
 8. Governing
Law. This Amendment shall be construed in accordance with and governed by the laws of the State of Delaware. 
 [Signature
page follows] 

  
 8 

 IN WITNESS WHEREOF, the General Partner has executed and delivered this Amendment in
accordance with Article XI of the Partnership Agreement, and as of the date first above written. 
  

			
	 GENERATION INCOME PROPERTIES, INC.,

as General Partner

		
	 By:
	 	 

		
	Name:	 	 David Sobelman

		
	 Title:
	 	Chief Operating Officer

  
 9 

 EXHIBIT A 

Partners; Units; Percentage Interests 

(As of May 21, 2019) 
  

									
	Partner	  	Common Units	 	  	LTIP Units	  	Percentage Interests
	 GENERAL PARTNER
	  				  		  	
	 Generation Income Properties, Inc.

401 East Jackson Street, Suite

3300 Tampa, Florida 33602
	  	 	2,039,563	 	  		  	99.99%
		  	  
	  
	 	  		  	  

	 LIMITED PARTNERS
	  				  		  	
	
	 GIP REIT OP Limited, LLC

401 East Jackson Street, Suite 3300

Tampa, Florida 33602
	  	 	204	 	  		  	0.01%
		  	  
	  
	 	  	  
	  	  

	 TOTALS
	  	 	2,039,767	 	  	0	  	100%

  
 10

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