Document:

Exhibit 10.2

 

NORDIC
REALTY TRUST, INC. 

2016 EQUITY INCENTIVE PLAN

 

FORM OF RESTRICTED STOCK UNIT AWARD AGREEMENT

 

THIS
AGREEMENT is made by and between Nordic Realty Trust, Inc., a Maryland corporation (the “Company”), and
         (the “Grantee”), dated as of
the        day of
                , 2016.

 

WHEREAS, the
Company maintains Nordic Realty Trust, Inc. 2016 Equity Incentive Plan (the “Plan”) (capitalized terms used
but not defined herein shall have the respective meanings ascribed thereto by the Plan); and

 

WHEREAS, in
accordance with the Plan, the Company may from time to time issue awards of Restricted Stock Units (“RSUs”) (also
generally known and referred to under the Plan as Phantom Shares) to individuals and persons who provide services to the Company;
and

 

WHEREAS, the
Grantee is an Eligible Person; and

 

WHEREAS, in
accordance with the Plan, the Committee has determined that it is in the best interests of the Company and its stockholders to
grant RSUs to the Grantee subject to the terms and conditions set forth below.

 

NOW, THEREFORE, IT IS HEREBY AGREED
AS FOLLOWS:

 

1.         Grant of RSUs.

 

The Company hereby
grants the Grantee RSUs. The RSUs are subject to the terms and conditions of this Agreement, and are further subject to the provisions
of the Plan. The Plan is hereby incorporated herein by reference as though set forth herein in its entirety. To the extent the
terms or conditions in this Agreement conflict with any provision of the Plan, the terms and conditions set forth in the Plan shall
govern.

 

2.         Restrictions
and Conditions.

 

The RSUs awarded pursuant
to this Agreement and the Plan shall be subject to the terms and conditions set forth in this Paragraph 2.

 

		(a)	Subject to clauses (b) and (c) below, the RSUs granted hereunder shall vest, solely to the extent
the Grantee has not had a Termination of Service[, in equal installments on the first business day of each of the first [three]
anniversaries of the date hereof, beginning on           , with the final vesting date to occur on           ] (the “Restriction Period”).

 

		(b)	Subject to clause (c) below, upon the Grantee’s Termination of Service by the Company and
its Subsidiaries for Cause or by the Grantee for any reason other than his or her death or Disability, during the Restriction Period,
then (A) all RSUs still subject to restriction shall thereupon, and with no further action, be forfeited by the Grantee, and (B)
the Company shall pay to the Grantee as soon as practicable (and in no event more than 30 days) after such termination an amount
equal to the lesser of (x) the amount (if any) paid by the Grantee for such forfeited RSUs as contemplated by the Plan, and (y)
the Fair Market Value on the date of termination of the forfeited RSUs.

 

		(c)	[In the event the Grantee has a Termination of Service on account of death or Disability or the
Grantee has a Termination of Service by the Company and its Subsidiaries for any reason other than for Cause, or in the event of
a Change in Control (regardless of whether a termination follows thereafter), during the Restriction Period, then the Restriction
Period will immediately lapse on all RSUs granted to the Grantee hereunder.]

 

		(d)	To the extent the terms or conditions of the Grantee’s employment agreement (if any) conflict with
clauses (b) and (c) above, the terms and conditions set forth in such employment agreement shall govern.

 

    	 

    	 

    

 3.          Voting and Other Rights.

 

The
Grantee shall have no rights of a shareholder, and will not be treated as an owner of Shares for tax purposes, except with respect
to Shares that have been issued. [Notwithstanding the foregoing, the Grantee shall be entitled to receive a Dividend Equivalent
Right with respect to each RSU which has not been forfeited. All Dividend Equivalent Rights (if any) shall be accumulated and paid
to the Grantee or his or her designee promptly after, and only after, the Restriction Period shall lapse without forfeiture in
respect of such RSUs.]

 

4.         Settlement.

 

Unless
otherwise determined by the Committee at the time of payment, each vested and outstanding RSU shall be settled in one Share
of Common Stock of the Company. Such settlement shall occur on          (either by
delivering one or more certificates for such Share or by entering such Share in book-entry form, as determined by the
Company in its discretion)]. Such issuance shall constitute payment of the RSUs. References herein to issuances to the
Grantee shall include issuances to any beneficial owner or other person to whom (or to which) the Shares are issued. The
Grantee shall have no further rights with respect to any RSUs that are paid in accordance with this Paragraph 4. For the
avoidance of doubt, to the extent the terms of this Paragraph 4 conflict with any terms of the Plan relating to the
settlement of RSU, the terms of this Paragraph 4 shall govern.

 

5.         Miscellaneous.

 

		(a)	The value of an RSU may decrease depending upon the Fair Market Value of a Share from time to time.
Neither the Company nor the Committee, nor any other party associated with the Plan, shall be held liable for any decrease in the
value of the RSUs. If the value of such RSUs decrease, there will be a decrease in the underlying value of what is distributed
to the Grantee under this Agreement and the Plan.

 

		(b)	Participation in the Plan confers no rights or interests other than as herein provided. With respect
to this Agreement, (i) the RSUs are bookkeeping entries, (ii) the obligations of the Company under the Plan are unsecured and constitute
a commitment by the Company to make benefit payments in the future, (iii) to the extent that any person acquires a right to receive
payments from the Company under the Plan, such right shall be no greater than the right of any general unsecured creditor of the
Company, (iv) all payments under the Plan (including distributions of Shares) shall be paid from the general funds of the Company
and (v) no special or separate fund shall be established or other segregation of assets made to assure such payments (except that
the Company may in its discretion establish a bookkeeping reserve to meet its obligations under the Plan). The RSUs shall be used
solely as a device for the determination of the payment to eventually be made to the Grantee. The award of RSUs is intended to
be an arrangement that is unfunded for tax purposes and for purposes of Title I of the Employee Retirement Income Security Act
of 1974, as amended.

 

		(c)	THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
MARYLAND, WITHOUT REGARD TO ANY PRINCIPLES OF CONFLICTS OF LAW WHICH COULD CAUSE THE APPLICATION OF THE LAWS OF ANY JURISDICTION
OTHER THAN THE STATE OF MARYLAND.

 

		(d)	The captions of this Agreement are not part of the provisions hereof and shall have no force or
effect. This Agreement may not be amended or modified except by a written agreement executed by the parties hereto or their respective
successors and legal representatives. The invalidity or unenforceability of any provision of this Agreement shall not affect the
validity or enforceability of any other provision of this Agreement.

 

		(e)	The Committee may make such rules and regulations and establish such procedures for the administration
of this Agreement as it deems appropriate. Without limiting the generality of the foregoing, the Committee may in good faith interpret
this Agreement and the Plan, with such interpretations to be conclusive and binding on all persons and otherwise accorded the maximum
deference permitted by law, provided that the Committee’s interpretation shall not be entitled to deference on and after a Change
in Control except to the extent that such interpretations are made exclusively by members of the Board who are individuals who
served as Board members before the Change in Control and take any other actions and make any other determinations or decisions
that it deems necessary or appropriate in connection with the Plan, this Agreement or the administration or interpretation thereof.
In the event of any dispute or disagreement as to interpretation of the Plan or this Agreement or of any rule, regulation or procedure,
or as to any question, right or obligation arising from or related to the Plan or this Agreement, the decision of the Committee
in accordance with the foregoing provisions of this Paragraph 5(e) shall be final and binding upon all persons.

 

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		(f)	All notices hereunder shall be in writing, and if to the Company or the Committee, shall be delivered
to the Board or mailed to its principal office, addressed to the attention of the Committee; and if to the Grantee, shall be delivered
personally, sent by facsimile transmission or mailed to the Grantee at the address appearing in the records of the Company. Such
addresses may be changed at any time by written notice to the other party given in accordance with this Paragraph 5(f).

 

		(g)	The failure of the Grantee or the Company to insist upon strict compliance with any provision of
this Agreement or the Plan, or to assert any right the Grantee or the Company, respectively, may have under this Agreement or the
Plan, shall not be deemed to be a waiver of such provision or right or any other provision or right of this Agreement or the Plan.

 

		(h)	The Company shall be entitled to withhold from any payments or deemed payments any amount of tax
withholding it determines to be required by law.

 

		(i)	Notwithstanding anything to the contrary contained in this Agreement, to the extent that the Board
determines that the RSU or the Plan is subject to Section 409A of the Code and fails to comply with the requirements of Section 409A
of the Code, the Committee reserves the right (without any obligation to do so or to indemnify the Grantee for failure to do so),
without the consent of the Grantee, to amend or terminate this Agreement and the Plan and/or amend, restructure, terminate or replace
the RSU in order to cause the RSU to either not be subject to Section 409A of the Code or to comply with the applicable provisions
of such section.

 

		(j)	The terms of this Agreement shall be binding upon the Grantee and upon the Grantee’s heirs, executors,
administrators, personal representatives, transferees, assignees and successors in interest and upon the Company and its successors
and assignees, subject to the terms of the Plan.

 

		(k)	Unless otherwise permitted in the sole discretion of the Committee, (i) neither this Agreement
nor any rights granted herein shall be assignable by the Grantee, and (ii) no purported sale, assignment, mortgage, hypothecation,
transfer, pledge, encumbrance, gift, transfer in trust (voting or other) or other disposition of, or creation of a security interest
in or lien on, any RSUs or Shares by any holder thereof in violation of the provisions of this Agreement or the Plan will be valid,
and the Company will not transfer any of said RSUs or Shares on its books nor will any Shares be entitled to vote, nor will any
distributions be paid thereon, unless and until there has been full compliance with said provisions to the satisfaction of the
Company. The foregoing restrictions are in addition to and not in lieu of any other remedies, legal or equitable, available to
enforce said provisions.

 

		(l)	Nothing in this Agreement shall confer on the Grantee any right to continue in the employ or other
service of the Company or its Subsidiaries or interfere in any way with the right of the Company or its Subsidiaries and its stockholders
to terminate the Grantee’s employment or other service at any time.

 

		(m)	This Agreement contains the entire agreement between the parties with respect to the subject matter
hereof and supersedes all prior agreements, written or oral, with respect thereto.

 

		(n)	This Agreement may be executed in any number of counterparts, including via facsimile, each of
which shall be deemed to be an original and all of which together shall be deemed to be one and the same instrument.

 

		(o)	Except as otherwise provided in the Plan or clause (i) above, no amendment or modification hereof
shall be valid unless it shall be in writing and signed by all parties hereto.

 

(the remainder of the page left intentionally
blank)

 

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IN WITNESS WHEREOF,
the Company and the Grantee have executed this Agreement as of the day and year first above written.

 

	 	NORDIC realty trust, inc.
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	 
	 	[GRANTEE]

 

    	- 4 -Exhibit 10.3

 

NORDIC
REALTY TRUST, INC.

2016 EQUITY INCENTIVE PLAN

 

Form
of rESTRICTED STOCK AWARD AGREEMENT

 

THIS
AGREEMENT is made by and between Nordic Realty Trust, Inc., a Maryland corporation (the “Company”)
and     (the “Grantee”), dated as of the     day of    , 2016.

 

WHEREAS, the
Company maintains Nordic Realty Trust, Inc. 2016 Equity Incentive Plan (the “Plan”) (capitalized terms
used but not defined herein shall have the respective meanings ascribed thereto by the Plan);

 

WHEREAS, the
Grantee is an Eligible Person; and

 

WHEREAS, in
accordance with the Plan, the Committee has determined that it is in the best interests of the Company and its stockholders to
grant Shares of Restricted Stock to the Grantee subject to the terms and conditions set forth below.

 

NOW, THEREFORE,
IT IS HEREBY AGREED AS FOLLOWS:

 

	 	1.	Grant of Restricted Stock.

 

The Company hereby
grants the Grantee Shares of Restricted Stock of the Company, subject to the following terms and conditions and subject to the
provisions of the Plan. The Plan is hereby incorporated herein by reference as though set forth herein in its entirety. To the
extent such terms or conditions conflict with any provision of the Plan, the terms and conditions set forth herein shall govern.

 

	 	2.	Restrictions and Conditions.

 

The Restricted Stock
awarded pursuant to this Agreement and the Plan shall be subject to the following restrictions and conditions:

 

		(a)	Subject to clauses (c) and (d) below, the period of restriction with respect to the Restricted
Stock granted hereunder (the “Restriction Period”) shall begin on the date hereof and lapse, if and as
service continues, with respect to [one-third] of the Restricted Stock granted hereunder, on each of the first [three] anniversaries
of the date hereof.

 

			For purposes of the Plan and this Agreement, Shares of Restricted Stock with respect to which the
Restriction Period has lapsed shall be vested. Notwithstanding the foregoing, the Restriction Period with respect to such Shares
of Restricted Stock shall only lapse as to whole Shares (rounded down to the nearest whole Share). Subject to the provisions of
the Plan and this Agreement, during the Restriction Period, the Grantee shall not be permitted voluntarily or involuntarily to
sell, transfer, pledge, hypothecate, alienate, encumber or assign the Restricted Stock awarded under the Plan (or have such Shares
attached or garnished).

 

		(b)	Except as provided in the foregoing clause (a), below in this clause (b) or in the Plan, the Grantee
shall have, in respect of the Restricted Stock, all of the rights of a stockholder of the Company, including the right to vote
the Shares of Restricted Stock and the right to receive dividends. [Unless otherwise provided by the Committee, the Grantee shall
be entitled to receive any cash dividends on any Shares of Restricted Stock (whether or not then subject to restrictions) which
have not been forfeited. Shares (not subject to restrictions) shall be delivered to the Grantee or his or her designee promptly
after, and only after, the Restriction Period shall lapse without forfeiture in respect of such Restricted Stock.]

 

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		(c)	Subject to clause (d) below, upon the Grantee’s Termination of Service by the Company and
its Subsidiaries for Cause or by the Grantee for any reason other than his or her death or Disability, during the Restriction Period,
then (A) all Shares still subject to restriction shall thereupon, and with no further action, be forfeited by the Grantee, and
(B) the Company shall pay to the Grantee as soon as practicable (and in no event more than 30 days) after such termination an amount
equal to the lesser of (x) the amount (if any) paid by the Grantee for such forfeited Shares of Restricted Stock as contemplated
by the Plan, and (y) the Fair Market Value on the date of termination of the forfeited Shares of Restricted Stock.

 

		[(d)	In the event the Grantee has a Termination of Service on account of death or Disability or the
Grantee has a Termination of Service by the Company and its Subsidiaries for any reason other than for Cause, or in the event of
a Change in Control (regardless of whether a termination follows thereafter), during the Restriction Period, then the Restriction
Period will immediately lapse on all Shares of Restricted Stock granted to the Grantee hereunder.]

 

		(e)	To the extent the terms or conditions of the Grantee’s employment agreement (if any) conflict with
clauses (c) and (d) above, the terms and conditions set forth in such employment agreement shall govern.

 

	 	3.	Miscellaneous.

 

		(a)	THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
maryland, WITHOUT REGARD TO ANY PRINCIPLES
OF CONFLICTS OF LAW WHICH COULD CAUSE THE APPLICATION OF THE LAWS OF ANY JURISDICTION OTHER THAN THE STATE OF maryland.

 

		(b)	The captions of this Agreement are not part of the provisions hereof and shall have no force or
effect. This Agreement may not be amended or modified except by a written agreement executed by the parties hereto or their respective
successors and legal representatives. The invalidity or unenforceability of any provision of this Agreement shall not affect the
validity or enforceability of any other provision of this Agreement.

 

		(c)	The Committee may make such rules and regulations and establish such procedures for the administration
of this Agreement as it deems appropriate. Without limiting the generality of the foregoing, the Committee may in good faith interpret
the Plan and this Agreement, with such interpretations to be conclusive and binding on all persons and otherwise accorded the maximum
deference permitted by law, provided that the Committee’s interpretation shall not be entitled to deference on and after
a Change in Control except to the extent that such interpretations are made exclusively by members of the Board who are individuals
who served as Board members before the Change in Control and take any other actions and make any other determinations or decisions
that it deems necessary or appropriate in connection with the Plan, this Agreement or the administration or interpretation thereof.
In the event of any dispute or disagreement as to interpretation of the Plan or this Agreement or of any rule, regulation or procedure,
or as to any question, right or obligation arising from or related to the Plan or this Agreement, the decision of the Committee
in accordance with the foregoing provisions of this Paragraph 3(c) shall be final and binding upon all persons.

 

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		(d)	All notices hereunder shall be in writing, and if to the Company or the Committee, shall be delivered
to the Board or mailed to its principal office, addressed to the attention of the Board; and if to the Grantee, shall be delivered
personally, sent by facsimile transmission or mailed to the Grantee at the address appearing in the records of the Company. Such
addresses may be changed at any time by written notice to the other party given in accordance with this paragraph 3(d).

 

		(e)	Without limiting the Grantee’s rights as may otherwise be applicable in the event of a Change
in Control, if the Company shall be consolidated or merged with another corporation or other entity, the Grantee may be required
to deposit with the successor corporation any certificates for the stock or securities or the other property that the Grantee is
entitled to receive by reason of ownership of Restricted Stock in a manner consistent with the Plan, and such stock, securities
or other property shall become subject to the restrictions and requirements imposed under the Plan and this Agreement, and the
certificates therefor or other evidence shall bear a legend similar in form and substance to the legend set forth in the Plan.

 

			Unless otherwise provided by the Committee, any Shares or other securities distributed to the Grantee
with respect to Restricted Stock or otherwise issued in substitution of Restricted Stock shall be subject to the restrictions and
requirements imposed by the Plan and this Agreement, including depositing the certificates therefor with the Company together with
a stock power and bearing a legend as provided in the Plan.

 

		(f)	The Company shall be entitled to withhold from any payments or deemed payments any amount of tax
withholding it determines to be required by law.

 

		(g)	The failure of the Grantee or the Company to insist upon strict compliance with any provision of
this Agreement, or to assert any right the Grantee or the Company, respectively, may have under this Agreement, shall not be deemed
to be a waiver of such provision or right or any other provision or right of this Agreement.

 

		(h)	Nothing in this Agreement shall confer on the Grantee any right to continue in the service of the
Company or its Subsidiaries or interfere in any way with the right of the Company or its Subsidiaries and its stockholders to terminate
the Grantee’s service at any time.

 

		(i)	This Agreement contains the entire agreement between the parties with respect to the subject matter
hereof and supersedes all prior agreements, written or oral, with respect thereto.

 

    	- 3 -

    	 

    

 

IN WITNESS WHEREOF,
the Company and the Grantee have executed this Agreement as of the day and year first above written.

 

	 	NORDIC realty trust, inc.
	 	 	 
	 	By: 	 
	 	Name:  	 
	 	Title: 	 
	 	 	 
	 	 	 
	 	 	 
	 	 
	 	[GRANTEE]

 

 

    	- 4 -

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