Document:

Exhibit

EXHIBIT 10.1

STEADFAST APARTMENT REIT III, INC.

AMENDMENT NO. 1
TO THE
DEALER MANAGER AGREEMENT  

Steadfast Capital Markets Group, LLC 
18100 Von Karman Avenue 
Suite 500 
Irvine, California 92612

Ladies and Gentlemen: 

This Amendment No. 1 to the Dealer Manager Agreement (this “Amendment”) is made and entered into as of May 26, 2016, by and among Steadfast Apartment REIT III, Inc., a Maryland corporation (the “Company”), Steadfast Apartment REIT III Operating Partnership, L.P., a Delaware limited partnership that serves as the Company’s operating partnership subsidiary (the “Operating Partnership”), and Steadfast Capital Markets Group, LLC, a Delaware limited liability company (the “Dealer Manager”). The Company, the Operating Partnership and the Dealer Manager are collectively referred to herein as the “Parties.” Capitalized terms used but not defined herein shall have the meaning set forth in the Dealer Manager Agreement (as defined below).

W I T N E S S E T H

WHEREAS, the Parties previously entered into that certain Dealer Manager Agreement, dated as of January 28, 2016 (the “Dealer Manager Agreement”), which provides for, among other matters, the appointment of the Dealer Manager as the Company’s exclusive agent and managing dealer to solicit, and to cause Participating Dealers to solicit, purchasers of the Primary Shares at the purchase price to be paid in accordance with, and otherwise upon the other terms and conditions set forth in, the Prospectus; and

WHEREAS, pursuant to Section 13.3 (Amendment) of the Dealer Manager Agreement, the Parties desire to amend the terms of the payment of the Distribution and Shareholder Servicing Fee to the Advisor, as set forth herein.

NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants and agreements contained herein, the Parties, intending to be legally bound, hereby agree as follows:

ARTICLE I
AMENDMENT

In order to give effect to the Parties’ agreement to amend the Dealer Manager Agreement as set forth above, Section 5(c) of the Dealer Manager Agreement is hereby deleted in its entirety and replaced with the following:

(c) Distribution and Shareholder Servicing Fee. Upon the terms set forth in the Prospectus and with respect to Class T Shares purchased in the primary offering only, and for providing the services set forth on Exhibit B to this Agreement, the Dealer Manager will receive a distribution and shareholder servicing fee that accrues daily in an amount equal to 1/365th of 1.125% of the purchase price per Class T Share (or, once reported, the estimated value per Class T Share) on a continuous basis from year to year, which will be paid monthly in arrears (the “Distribution and Shareholder Servicing Fee”). The Dealer Manager will reallow 88.89% of the Distribution and Shareholder Servicing Fee (i.e., 1.0% of 1.125%) to Participating Dealers (as described more fully in the Participating Dealer Agreement entered into with such Participating Dealer).  The Distribution and Shareholder Servicing Fee shall not begin to accrue until the date upon which the Company has received and accepted subscriptions for the Minimum Offering and the Escrow Agent has released proceeds from the Escrow Account to the Company. The Distribution and Shareholder Servicing Fee will not be payable with respect to DRIP Shares.  The Company will cease paying the Distribution and Shareholder Servicing Fee (and cease deducting the Distribution and Shareholder Servicing Fee from amounts otherwise available for distribution to a holder of a Class T Share) with respect to a Class T Share sold in the primary offering at the earlier of: (i) the date at which the aggregate underwriting compensation from all sources equals 10% of the gross proceeds from the sale of Primary Shares; (ii) the sixth anniversary of the last day of the fiscal quarter in which the initial public offering (excluding the Company’s distribution reinvestment plan) terminates; (iii) the end of the month in which the Company’s transfer agent, on behalf of the Company, determines that total underwriting compensation, including selling commissions, dealer manager fees, the Distribution and Shareholder Servicing Fee and other elements of underwriting compensation with respect to such Class T Share, would be in excess of 10% of the total gross investment amount at the time of purchase of such Class T Share in the primary offering; and (iv) the sale of the Company or the sale of all or substantially all of the Company’s assets.

ARTICLE II
MISCELLANEOUS 

Section 2.1 Continued Effect. Except as specifically set forth herein, all other terms and conditions of the Dealer Manager Agreement shall remain unmodified and in full force and effect, the same being confirmed and republished hereby. In the event of any conflict between the terms of the Dealer Manager Agreement and the terms of this Amendment, the terms of this Amendment shall control.

Section 2.2 Applicable Law; Venue. This Amendment was executed and delivered in, and its validity, interpretation and construction shall be governed by the laws of, the State of New York; provided, however, that causes of action for violations of federal or state securities laws shall not be governed by this Section 2.2. Venue for any action brought hereunder shall lie exclusively in Irvine, California.

Section 2.2 Counterparts. This Amendment may be executed in any number of counterparts, including by telecopy or other electronic methods. Each counterpart, when executed and delivered, shall be an original contract, but all counterparts, when taken together, shall constitute one and the same Amendment. 

[Signatures on following page.] 

2

IN WITNESS WHEREOF, the Parties hereto have caused this Amendment to be duly executed as of the date first written above. 
	
					
	STEADFAST APARTMENT REIT III, INC. 
 

	 

	By:
	/s/ Ella S. Neyland
	 

	 
	Name:
	Ella S. Neyland
	 

	 
	Title:
	President
	 

	 
	 
	 
	 
	 

	STEADFAST APARTMENT REIT III OPERATING PARTNERSHIP, L.P.
	 

	 
	 
	 

	By:
	Steadfast Apartment REIT III, Inc.
	 

	 
	its general partner
	 

	 
	 
	 
	 
	 

	 
	By:
	/s/ Ella S. Neyland
	 

	 
	 
	Name:
	Ella S. Neyland
	 

	 
	 
	Title
	President
	 

	 
	 
	 
	 
	 

	STEADFAST CAPITAL MARKETS GROUP, LLC 

	 

	 
	 
	 
	 
	 

	By:
	/s/ Phillip D. Meserve
	 

	 
	Name:
	Phillip D. Meserve
	 

	 
	Title:
	President and Chief Executive Officer
	 

Signature Page to Amendment No. 1 to the Dealer Manager AgreementExhibit 10.8

 

MUTUAL COMPENSATION SCHEDULE

 

This
Compensation Schedule (this “Schedule”) is made and effective as of March 21 , 2016
 (the “Effective Date”), by and between AmericaTowne, Inc., a Delaware corporation
and reporting company under the rules promulgated by the United States Securities and Exchange Commission, with a mailing address
for notice purposes of 4700 Homewood Court, Suite 100 in Raleigh, North Carolina 27609 (“AmericaTowne”) Patrick
Mabonga on behalf of Yilaime Nairobi Limited, a Corporation with an address for notice purposes of Suite 4, Machera
Court, Komo Lane, Wood Avenue, Kilimani, P.O Box 1348-00502, Nairobi Kenya (the “Service Provider”),
and is incorporated into and merged with the United States Trade Center Service Provider Agreement between the Service Provider
and AmericaTowne (the “Agreement”.) AmericaTowne and the Service Provider may be defined singularly as a “Party”
or collectively as the “Parties.”

 

WHEREAS, until further
written amendment hereto signed by the Parties, the Parties agree that this Schedule shall govern compensation from AmericaTowne
to the Service Provider for providing those services set forth in the Agreement.

 

NOW, THEREFORE, in consideration
the representations, warranties and agreements herein contained, the Parties agree as follows:

 

1.Support Services. Subject
to the disclosures set forth in Section 3 and Section 4 of this Schedule, during the Term and, if applicable, the Option Term,
as these terms are defined in the Agreement, AmericaTowne shall pay the Service Provider:

 

a) Solely at AmericaTowne’s
discretion a fee equal to 1.0% to 13% of the gross

value of all funds, insurance, loans and or guarantees charged and collected from those businesses and individuals participating
or contracting with AmericaTowne export program;

 

b) A stock award of 25,000 shares
of AmericaTowne’s commons stock one year after this agreement is signed and it is still in force and affect;

 

c) Starting at the end of the third
month, provided that the Service provider has met the production schedule, a monthly stipend to cover rent and or lease of facilities
paid solely at the discretion of AmericaTowne; and

 

d) A stock option of 25,000 shares
of commons stock of AmericaTowne for each year the

agreement is in force for up to five years. Starting in the year 2016 and each year thereafter, the option can be exercised annually
in the month of December on or before the 31st of December at the option price of $1.50 per common share.

 

    	-1- 

    	 

    

 

2.In addition, the Service Provider
agrees to pay AmericaTowne a nonrefundable service fee of $35,000.00 USD on the Effective Date (the "Service Fee"). The
Service Fee is recognized when deliverables are provided. The Service Fee is paid for deliverables including the formation and
registration of the LLC, recording the Service Provider’s ownership interest in the newly formed entity, and the delivery
of marketing materials to be used by the Service Provider. The Service Fee is to be paid as follows: $5,000 upon signing this agreement;
and monthly payments of $1,000 a month for thirty months. The first monthly payment will start on 30 May 2016, and run for 30 consecutive
months. At the discretion of AmericaTowne Inc. the Service Provider may be required to sign a note for outstanding service fees.
In addition AmericaTowne Inc. at its sole discretion may exchange other assets or items of value for payments due.

 

3.The Service Provider Is Not A
Real Estate Broker. AmericaTowne agrees that the Service Provider is not being compensated as a real estate broker or salesperson
as the Service Provider is not licensed as such a broker or salesperson, and the Service Provider shall not sell or offer for sale,
buy or offer to buy, provide or offer to provide market analyses, list or offer or attempt to list, or negotiate the purchase or
sale or exchange or mortgage of real estate, and AmericaTowne acknowledges and agrees that it will retain its own attorneys, accountants
and real estate brokers and/or salespeople, as needed, for any transactions contemplated under the Agreement and this Schedule.

 

4.The Service Provider Is Not A
Securities Broker or Dealer. AmericaTowne agrees that the Service Provider is not being compensated as a broker/dealer or registered
FINRA representative in the business of selling securities. AmericaTowne acknowledges that the Agreement and this Schedule is limited
solely to consulting and advisory services, and AmericaTowne agrees that the compensation set forth herein shall be categorized
as valuable consideration in the context of facilitating the services under the Agreement, and payment of any consideration under
this Schedule constitutes a waiver and release of any claims by AmericaTowne that the payment is related in any manner to the sale
of securities.

 

    	-2- 

    	 

    

 

 

5.Merger and Integration. This
Schedule, along with the Agreement, contain the entire agreements of the Parties, and any and all prior schedules, agreements,
representations, promises or, to the extent recognized by a court of competent jurisdiction to constitute binding duties and obligations
under North Carolina law, are superseded by and/or merged into the aforementioned agreements.

 

6.Miscellaneous. The
Parties agree that all other remaining provisions set forth in the Agreement are incorporated by reference as if fully stated
herein.

 

IN WITNESS WHEREOF, the
parties hereto have caused this Schedule to be executed and delivered as of the date set forth above.

 

AMERICATOWNE, INC.

 

 

By:/s/ Alton Perkins                                         Date
3/22/2016

Alton Perkins

Chairman of the Board

Authorized by Board of
Directors

 

THE SERVICE PROVIDER

 

 

By:/s/ Patrick Mabonga                                    Date
3/22/2016

Patrick Mabonga,

General Manager

 

    -3-

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