Document:

Exhibit 10.1

 

$500,000,000

 

COMMUNITY HEALTHCARE TRUST INCORPORATED

 

COMMON STOCK

PAR VALUE $0.01 PER SHARE

 

SECOND AMENDED AND RESTATED SALES AGENCY
AGREEMENT

 

November 2, 2022

 

Piper
Sandler & Co.

1251 Avenue of the Americas, 6th Floor

New York, New York 10020

 

Evercore Group L.L.C.

55 East 52nd Street, 36th Floor

New York, NY 10055

 

Truist Securities, Inc.

3333 Peachtree Road NE, 11th Floor

Atlanta, GA 30326

Attention: Equity Capital Markets

 

Regions Securities LLC

615 S. College Street, Suite 600

Charlotte, NC 28202

 

Fifth Third Securities, Inc.

424 Church Street

Maildrop: UTFC6B

Nashville, TN 37219

 

Janney Montgomery Scott LLC

1717 Arch Street, 22nd Floor

Philadelphia, PA 19103

 

Robert W. Baird & Co. Incorporated

777 E. Wisconsin Avenue

Milwaukee, Wisconsin 53202

 

Ladies and Gentlemen:

 

Community Healthcare Trust Incorporated, a Maryland corporation (the
 “Company”), confirms its agreement (this “Agreement”) with Piper Sandler & Co., Evercore
Group L.L.C., Truist Securities, Inc., Regions Securities LLC, Fifth Third Securities, Inc., Janney Montgomery Scott LLC
and Robert W. Baird & Co. Incorporated (collectively, the “Agents” or “you”) originally
set forth in the Amended and Restated Sales Agency Agreement, dated November 5, 2019, as amended by Amendment No. 1, dated November 3,
2020 (as amended, the “Original Agreement”), which Original Agreement is hereby amended and restated as follows:

 

1. The Company proposes, subject to the terms and
conditions stated herein, to issue and sell from time to time on or after the date of this Agreement, to or through the Agents, shares
(the “Shares”) of the common stock, par value $0.01 per share (“Common Stock”), of the Company,
having an aggregate gross sales price of up to $500,000,000 (exclusive of shares of Common Stock sold under the Original Agreement) (the
 “Maximum Amount”), on the terms set forth in this Agreement. The Company agrees that whenever it determines to sell
the Shares directly to the Agents, as principal or otherwise other than as set forth in Section 3 hereof, it will enter into a separate
agreement, which will include customary terms and conditions consistent with the representations, warranties and provisions in this Agreement
and which will be agreed upon by the parties thereto (each, a “Terms Agreement”).

 

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The Company prepared and filed, in accordance with the provisions of
the Securities Act of 1933, as amended (the “1933 Act”), and the rules and regulations thereunder (the “1933
Act Regulations”), with the Securities and Exchange Commission (the “Commission”) an “automatic shelf
registration statement” (as defined in Rule 405 under the 1933 Act) on Form S-3 (File No. 333-268115) relating
to the public offering and sale of certain securities of the Company, including the Shares, to be issued from time to time by the Company,
and which incorporates by reference documents that the Company has filed or will file in accordance with the provisions of the Securities
Exchange Act of 1934, as amended (the “1934 Act”), and the rules and regulations thereunder (the “1934
Act Regulations”). The base prospectus filed as part of the Registration Statement (as defined below), as amended in the form
in which it has been filed most recently with the Commission, including the documents incorporated or deemed incorporated by reference
therein pursuant to Item 12 of Form S-3 under the 1933 Act, is referred to herein as the “Base Prospectus.” The
Company has prepared a prospectus supplement (the “Prospectus Supplement”) to the Base Prospectus included as part
of the Registration Statement, which Prospectus Supplement specifically relates to the sale of the Shares pursuant to an “at the
market” offering as defined in Rule 415 of the 1933 Act. The Company will furnish to the Agents, for use by the Agents, copies
of the Base Prospectus included as part of the Registration Statement, as supplemented by the Prospectus Supplement. Except where the
context otherwise requires, the Registration Statement, as amended when it became effective, including all documents filed as part thereof
or incorporated by reference therein, and including any information contained in a Prospectus (as defined below) subsequently filed with
the Commission pursuant to Rule 424(b) under the 1933 Act or deemed to be a part of such registration statement pursuant to
Rule 430B of the 1933 Act, is herein referred to as the “Registration Statement.” The Base Prospectus, including
all documents incorporated therein by reference, included in the Registration Statement, as it may be supplemented by the Prospectus Supplement,
in the form in which such prospectus and/or Prospectus Supplement have most recently been filed by the Company with the Commission pursuant
to Rule 424(b) under the 1933 Act is herein referred to as the “Prospectus.” Any reference herein to the
Registration Statement, the Prospectus or any amendment or supplement thereto shall be deemed to refer to and include the documents incorporated
by reference therein, and any reference herein to the terms “amend,” “amendment” or “supplement” with
respect to the Registration Statement or the Prospectus shall be deemed to refer to and include the filing after the execution hereof
of any document with the Commission deemed to be incorporated by reference therein. For purposes of this Agreement, all references to
the Registration Statement, the Prospectus or to any amendment or supplement thereto shall be deemed to include any copy filed with the
Commission via the Commission’s Electronic Data Gathering, Analysis and Retrieval system (or any successor system) (“EDGAR”).

 

As used in this Agreement:

 

“Applicable Time” means each time of sale of Shares
pursuant to this Agreement or any relevant Terms Agreement, or such other time as agreed by the Company and the Agents.

 

“General Disclosure Package” means any Issuer General
Use Free Writing Prospectuses and the Prospectus.

 

“Issuer Free Writing Prospectus” means as such term
is defined in Rule 433 of the 1933 Act Regulations, including, without limitation, any “free writing prospectus” (as
defined in Rule 405 of the 1933 Act Regulations) relating to the Shares that is (i) required to be filed with the Commission
by the Company, (ii) a “road show that is a written communication” within the meaning of Rule 433(d)(8)(i), whether
or not required to be filed with the Commission, or (iii) exempt from filing with the Commission pursuant to Rule 433(d)(5)(i) because
it contains a description of the Shares or of the offering thereof that does not reflect the final terms, in each case in the form filed
or required to be filed with the Commission or, if not required to be filed, in the form retained in the Company’s records pursuant
to Rule 433(g).

 

“Issuer General Use Free Writing Prospectus” means
any Issuer Free Writing Prospectus approved by the Agents for general distribution to investors, as evidenced by communications between
the Company and the Agents.

 

“Issuer Limited-Use Free Writing Prospectus” means
any Issuer Free Writing Prospectus that is not an Issuer General Use Free Writing Prospectus.

 

2. The Company represents and warrants to the Agents
as of the date hereof, each Representation Date (as defined in Section 6(n) below), each Applicable Time (as defined in Section 1
above) referred to herein, and each Delivery Date (as defined in Section 3(i) below) and agrees with the Agents that:

 

(a)  Registration Statement and Prospectuses.
The Company meets all conditions and requirements for the use of Form S-3 to register the offer and sale of the Shares in accordance
with General Instruction I.B.1 of Form S-3. Each of the Registration Statement and any post-effective amendment thereto have been
prepared by the Company in conformity with the requirements of the 1933 Act and the 1933 Act Regulations. On the date the Registration
Statement was filed and as of the date hereof, the Company was and is a “well-known seasoned issuer” as defined in Rule 405
of the 1933 Act. The Registration Statement is an “automatic shelf registration statement,” as defined in Rule 405 of
the 1933 Act, and the Shares, since their registration on the Registration Statement, have been and remain eligible for registration by
the Company on a Rule 405 “automatic shelf registration statement.” The Company has not received from the Commission
any notice pursuant to Rule 401(g)(2) of the 1933 Act objecting to the use of the automatic shelf registration statement form.
The Company has paid or will pay the required Commission filing fees relating to the Shares within the time required by Rule 456(b)(1)(i) of
the 1933 Act without regard to the proviso therein and otherwise in accordance with Rules 456(b) and 457(r) of the 1933
Act (including, if applicable, by updating the “Calculation of Filing Fees Table” in accordance with Rule 456(b)(1)(ii) of
the 1933 Act either in a post-effective amendment to the Registration Statement or in the manner specified by Rule 424(g)). No stop
order suspending the effectiveness of the Registration Statement or any post-effective amendment thereto has been issued under the 1933
Act, no order preventing or suspending the use of any prospectus supplement or the Prospectus has been issued and no proceedings for any
of those purposes have been instituted or are pending or, to the actual knowledge of the Company after due inquiry, contemplated. The
Company has complied with each request, if any, from the Commission for additional information.

 

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Each
of the Registration Statement and any post-effective amendment thereto, at the time it became effective and at each deemed effective date
with respect to the Agents pursuant to Rule 430B(f)(2) under the 1933 Act Regulations, complied and will comply in all material
respects with the requirements of the 1933 Act and the 1933 Act Regulations. The Prospectus and each amendment or supplement thereto,
as of their respective issue dates, complied and will comply, in all material respects with the 1933 Act and the 1933 Act Regulations.
The Prospectus and any amendments or supplements thereto delivered to the Agents for use in connection with the offering of the Shares
were or will be substantially identical to the electronically transmitted copies thereof filed with the Commission pursuant to EDGAR,
except to the extent permitted by Regulation S-T. The documents incorporated or deemed to be incorporated by reference in the Registration
Statement and the Prospectus, when they became effective or at the time they were or hereafter are filed with the Commission, complied
and will comply in all material respects with the requirements of the 1934 Act and the 1934 Act Regulations. The Registration Statement,
the Prospectus and the documents incorporated by reference therein include and incorporate by reference all interactive data in eXtensible
Business Reporting Language (“XBRL Data”) required to be included therein; and the XBRL Data included or incorporated
by reference in the Registration Statement, the Prospectus or the documents incorporated by reference therein fairly present the information
called for in all material respects and have been prepared in accordance with the Commission’s rules and guidelines applicable
thereto.

 

(b)  Accurate Disclosure. Neither the
Registration Statement nor any post-effective amendment thereto, at the respective time it became effective, at each Applicable Time and
at each Delivery Date, contained, contains or will contain an untrue statement of a material fact or omitted, omits or will omit to state
a material fact required to be stated therein or necessary to make the statements therein not misleading. At each Applicable Time and
at each Delivery Date, neither (A) the General Disclosure Package or (B) any individual Issuer Limited-Use Free Writing Prospectus,
when considered together with the General Disclosure Package, included, includes or will include an untrue statement of a material fact
or omitted, omits or will omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances
under which they were made, not misleading. Neither the Prospectus nor any amendment or supplement thereto (including any prospectus wrapper),
as of its issue date, at the time of any filing with the Commission pursuant to Rule 424(b), at each Applicable Time and at each
Delivery Date, included, includes or will include an untrue statement of a material fact or omitted, omits or will omit to state a material
fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading.

 

The documents incorporated or deemed to be incorporated by reference
in the Registration Statement, the Prospectus and the General Disclosure Package, when they were filed with the Commission, conformed
in all material respects to the requirements of the 1934 Act and the 1934 Act Regulations, and none of such documents contained any untrue
statement of a material fact or omitted to state a material fact necessary to make the statements therein, in the light of the circumstances
under which they were made, not misleading; and any further documents so filed and incorporated by reference in the Registration Statement,
the Prospectus or the General Disclosure Package, when such documents are filed with the Commission, will conform in all material respects
to the requirements of the 1934 Act and the 1934 Act Regulations and will not contain any untrue statement of a material fact or omit
to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading.
The Company filed the Registration Statement with the Commission before using any free writing prospectus and each free writing prospectus
was preceded or accompanied by the Prospectus satisfying the requirements of Section 10 under the 1933 Act.

 

The representations and warranties in this Section 2(b) shall
not apply to statements in or omissions from the Registration Statement (or any amendment thereto), the General Disclosure Package or
the Prospectus (or any amendment or supplement thereto) made in reliance upon and in conformity with the Agent Information (as defined
in Section 9(a) below).

 

(c)  Issuer Free Writing Prospectuses.
Unless the Company has notified or notifies the Agents otherwise in accordance with Section 6(c) below, no Issuer Free Writing
Prospectus conflicts or will conflict with the information contained in the Registration Statement or the Prospectus, including any document
incorporated or deemed incorporated by reference therein, or any preliminary or other prospectus deemed to be a part thereof that has
not been superseded or modified. Each Issuer Free Writing Prospectus has conformed or will conform in all material respects to the requirements
of the 1933 Act and the 1933 Act Regulations on the date of first use, and the Company has complied with any filing requirements applicable
to an Issuer Free Writing Prospectus pursuant to the 1933 Act Regulations. The Company has not made any offer relating to the Shares that
would constitute an Issuer Free Writing Prospectus without the prior written consent of the Agents; provided, that such consent is deemed
to have been given with respect to each Permitted Free Writing Prospectus (as defined in Section 6(c) below). The Company has
retained in accordance with the 1933 Act Regulations all Issuer Free Writing Prospectuses that were not required to be filed pursuant
to the 1933 Act Regulations. The first sentence of this Section 2(c) shall not apply to statements in or omissions from any
Issuer Free Writing Prospectus in reliance upon and in conformity with the Agent Information.

 

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(d)  Company Not Ineligible Issuer. At
the time of filing the Registration Statement and any post-effective amendment thereto, and at the date hereof, the Company was not and
is not an “ineligible issuer,” as defined in Rule 405, without taking account of any determination by the Commission
pursuant to Rule 405 that it is not necessary that the Company be considered an ineligible issuer.

 

(e)  Independent Accountants. BDO USA,
LLP, who certified the financial statements and supporting schedules included or incorporated by reference in the Registration Statement,
the General Disclosure Package and the Prospectus are independent public accountants with respect to the Company as required by the 1933
Act, the 1933 Act Regulations and the Public Company Accounting Oversight Board (United States).

 

(f)  Financial Statements; Non-GAAP Financial
Measures. The historical consolidated financial statements of the Company included or incorporated by reference in the Registration
Statement, the General Disclosure Package and the Prospectus, together with the related schedules and notes, present fairly, in all material
respects, the financial condition of the Company and its consolidated subsidiaries at the dates indicated and the statement of operations,
owners’ equity and cash flows of the Company and its consolidated subsidiaries for the periods specified, and such financial statements
have been prepared in conformity with U.S. generally accepted accounting principles (“GAAP”) applied on a consistent
basis throughout the periods presented. The supporting schedules, if any, relating to the Company and its consolidated subsidiaries present
fairly in accordance with GAAP the information required to be stated therein. Except as included or incorporated by reference in the Registration
Statement, the General Disclosure Package and the Prospectus, no historical or pro forma financial statements or supporting schedules
are required to be included or incorporated by reference in the Registration Statement, the General Disclosure Package or the Prospectus
under the 1933 Act or the 1933 Act Regulations. All disclosures contained or incorporated by reference in the Registration Statement,
the General Disclosure Package or the Prospectus regarding “non-GAAP financial measures” (as such term is defined by the rules and
regulations of the Commission) comply in all material respects with Regulation G under the 1934 Act, and Item 10 of Regulation S-K under
the 1933 Act, in each case to the extent applicable.

 

(g)  No Material Adverse Change in Business.
Except as otherwise disclosed in the Registration Statement, the General Disclosure Package and the Prospectus, since the respective dates
as of which information is given in the Registration Statement, the General Disclosure Package or the Prospectus, (A) there has been
no material adverse change in or affecting any of the properties or assets described in the Registration Statement, the Disclosure Package
or the Prospectus as owned or leased by the Company and its subsidiaries (collectively, the “Properties”), considered
as a whole, or in the condition, financial or otherwise, or in the earnings or business of the Company and its subsidiaries considered
as one enterprise, whether or not arising in the ordinary course of business (a “Material Adverse Effect”), (B) there
have been no transactions entered into by the Company or any of its subsidiaries, other than those in the ordinary course of business,
which are material with respect to the Company and its subsidiaries considered as one enterprise, (C) there has been no liability
or obligation, direct or contingent (including off-balance sheet obligations), which is material to the Company and its subsidiaries considered
as one enterprise, incurred by the Company or any of its subsidiaries, except obligations incurred in the ordinary course of business,
and (D) there has been no distribution of any kind declared, paid or made by the Company on any class of its shares of Common Stock
or other form of ownership interests.

 

(h)  Good Standing of the Company. The
Company has been duly organized and is validly existing as a corporation in good standing with the State Department of Assessments and
Taxation of Maryland and has all the requisite corporate power and authority to own, lease and operate its Properties and to conduct its
business as described in the Registration Statement, the General Disclosure Package and the Prospectus and enter into and perform its
obligations under this Agreement, and is duly qualified as a foreign corporation to transact business and is in good standing in each
other jurisdiction in which such qualification is required, whether by reason of the ownership or leasing of property or the conduct of
business, except where the failure so to qualify or to be in good standing would not, singly or in the aggregate, result in a Material
Adverse Effect.

 

(i)  Significant Subsidiaries. The subsidiaries
listed on Schedule 2(i)(i) are the only subsidiaries of the Company that meet the definition of “significant subsidiary”
(as such term is defined in Rule 1-02 of Regulation S-X). The only subsidiaries of the Company are the subsidiaries listed on Schedule
2(i)(ii) or on Exhibit 21 to the Company’s Annual Report on Form 10-K filed with the Commission on February 15,
2022. Each of the significant subsidiaries of the Company listed on Schedule 2(i)(i) (the “Significant Subsidiaries”)
has been duly organized and is validly existing and in good standing under the laws of its respective state of organization and has all
the requisite power and authority to own, lease and operate its Properties and to conduct its business as described in the Registration
Statement, the General Disclosure Package and the Prospectus, and is duly qualified as a foreign corporation to transact business and
is in good standing in each other jurisdiction in which such qualification is required, whether by reason of the ownership or leasing
of property or the conduct of business, except where the failure so to qualify or to be in good standing would not, singly or in the aggregate,
result in a Material Adverse Effect; all of the issued equity securities of each Significant Subsidiary, in the case of a corporation,
have been duly authorized and validly issued and are fully paid and non-assessable, and, in the case of a limited liability company, are
validly issued and purchasers of such equity securities will have no obligation to make payments to the Significant Subsidiary or its
creditors (other than the purchase price for the equity securities) or contributions to the Significant Subsidiary or its creditors solely
by reason of the purchasers’ ownership of such equity securities, and, in each case, are owned, directly or through other subsidiaries
of the Company, by the Company, free and clear of any pledge, lien, encumbrance or claim.

 

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(j)  Capitalization. The authorized,
issued and outstanding shares of capital stock of the Company is as set forth under the headings “Description of Common Stock”
and “Description of Preferred Stock” in the Registration Statement, as modified by the description of the number of shares
of Common Stock outstanding set forth under the caption “The Offering” in the General Disclosure Package and the Prospectus
(except for subsequent issuances, if any, pursuant to this Agreement or pursuant to reservations, agreements or employee benefit plans
referred to in the Registration Statement, the General Disclosure Package and the Prospectus). Except as disclosed in the Registration
Statement, the General Disclosure Package and the Prospectus, (i) no shares of Common Stock are reserved for any purpose, (ii) there
are no outstanding securities convertible into or exchangeable for any shares of Common Stock of the Company and (iii) there are
no outstanding options, rights (preemptive or otherwise) or warrants to purchase or subscribe for shares of Common Stock or any other
securities of the Company. The outstanding shares of Common Stock of the Company have been duly authorized and are validly issued, fully
paid and non-assessable. None of the outstanding shares of Common Stock of the Company were issued in violation of the preemptive or other
similar rights of any security holder of the Company.

 

(k)  No Equity Awards. Except for as
disclosed in the Registration Statement, the General Disclosure Package and the Prospectus, the Company has no outstanding stock options
or other equity-based awards of or to purchase shares of Common Stock pursuant to an equity-based compensation plan or otherwise.

 

(l)  Authorization of Agreement. This
Agreement has been duly authorized, executed and delivered by all necessary corporate action on the part of the Company.

 

(m)  Authorization and Description of Shares.
The Shares have been duly authorized for issuance and sale to the Agents pursuant to this Agreement and, when the Shares have been issued
and delivered by the Company pursuant to this Agreement against payment of the consideration set forth herein, the Shares will be validly
issued and fully paid and non-assessable; and the issuance of the Shares is not subject to the preemptive, resale rights, rights of first
refusal or other similar rights of any security holder of the Company. The Common Stock conforms in all material respects to all statements
relating thereto contained in the Registration Statement, the General Disclosure Package and the Prospectus and such description conforms
in all material respects to the rights set forth in the instruments defining the same. No holder of any of the Shares will be subject
to personal liability solely by reason of being such a holder. The certificates, if any, to be used to evidence the Shares will, at each
Applicable Time, be in substantially the form filed as an exhibit to the Registration Statement and will comply in all material respects
with all applicable legal requirements, the requirements of the charter and bylaws of the Company and the requirements of the New York
Stock Exchange (the “NYSE”).

 

(n)  Registration Rights. There are no
persons with registration rights or other similar rights to have any securities registered for sale pursuant to the Registration Statement
or otherwise registered for sale by the Company under the 1933 Act.

 

(o)  Absence of Violations, Defaults and
Conflicts. Neither the Company nor any of its subsidiaries is (A) in violation of its respective charter, bylaws, certificate
of limited partnership, agreement of limited partnership or other organizational document, (B) in default in the performance or observance
of any obligation, agreement, covenant or condition contained in any contract, indenture, mortgage, deed of trust, loan or credit agreement,
note, lease, or other agreement or instrument to which the Company or any of its subsidiaries is a party or by which it or any of them
may be bound or to which any of the Properties or any other properties or assets of the Company or any of its subsidiaries is subject
(collectively, “Agreements and Instruments”), except for such defaults that would not, singly or in the aggregate,
result in a Material Adverse Effect, or (C) in violation of any law, statute, rule, regulation, judgment, order, writ or decree of
any arbitrator, court, governmental body, regulatory body, administrative agency or other authority, body or agency having jurisdiction
over the Company or any of its subsidiaries or the Properties or any of its other properties, assets or operations (each, a “Governmental
Entity”), except for such violations that would not, singly or in the aggregate, result in a Material Adverse Effect. The execution,
delivery and performance of this Agreement and the consummation of the transactions contemplated herein and therein and in the Registration
Statement, the General Disclosure Package and the Prospectus (including the issuance and sale of the Shares and the use of the net proceeds
from the sale of the Shares as described therein under the caption “Use of Proceeds” in the Prospectus Supplement) and compliance
by the Company with its obligations hereunder and (to the extent a party thereto) thereunder have been duly authorized by all necessary
corporate or limited partnership action, as applicable, and do not and will not, whether with or without the giving of notice or passage
of time or both, conflict with or constitute a breach of, or default or Repayment Event (as defined below) under, or to the actual knowledge
of the Company result in the creation or imposition of any lien, charge or encumbrance upon the Properties or any other properties or
assets of the Company or any of its subsidiaries pursuant to, the Agreements and Instruments (except for such conflicts, breaches, defaults
or Repayment Events or liens, charges or encumbrances as are described in or contemplated by the Registration Statement, the General Disclosure
Package or the Prospectus that would not, singly or in the aggregate, result in a Material Adverse Effect), nor will such action result
in any violation of (i) the provisions of the charter, bylaws, certificate of limited partnership, agreement of limited partnership
or other organizational document, as applicable, of the Company or any of its subsidiaries or (ii) to the actual knowledge of the
Company after due inquiry, any applicable law, statute, rule, regulation, judgment, order, writ or decree of any Governmental Entity,
except in the case of clause (ii) only, for any such violation that would not, singly or in the aggregate, result in a Material Adverse
Effect. As used herein, a “Repayment Event” means any event or condition which gives the holder of any note, debenture
or other evidence of indebtedness (or any person acting on such holder’s behalf) the right to require the repurchase, redemption
or repayment of all or a portion of such indebtedness by the Company or any of its subsidiaries.

 

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(p)  Absence of Labor Dispute. No labor
dispute with the employees of the Company or any of its subsidiaries exists or, to the actual knowledge of the Company after due inquiry,
is imminent, which, in any such case, would, singly or in the aggregate, reasonably be expected to result in a Material Adverse Effect.

 

(q)  Absence of Proceedings. Except as
disclosed in the Registration Statement, the General Disclosure Package and the Prospectus, there is no action, suit, proceeding, inquiry
or investigation pending, or, to the actual knowledge of the Company after due inquiry, threatened, against or affecting the Company or
any of its subsidiaries, which is required to be disclosed in the Registration Statement or the Prospectus (other than as disclosed therein),
or which would, singly or in the aggregate, reasonably be expected to result in a Material Adverse Effect, or which would materially and
adversely affect the consummation of the transactions contemplated in this Agreement, or the performance by the Company of its obligations
hereunder. The aggregate of all pending legal or governmental proceedings to which the Company or any of its subsidiaries is a party or
of which any of the Properties or their respective other properties or assets is the subject which are not described in the Registration
Statement, the General Disclosure Package and the Prospectus, including ordinary routine litigation incidental to the business, would
not reasonably be expected to result in a Material Adverse Effect.

 

(r)  Accuracy of Exhibits. There are
no contracts or documents that are required to be described in the Registration Statement or the Prospectus or to be filed as exhibits
to the Registration Statement that have not been so described or filed as required.

 

(s)  Absence of Further Requirements.
No filing with, or authorization, approval, consent, license, order, registration, qualification or decree of, any Governmental Entity
is necessary or required for the performance by the Company of its obligations hereunder or in connection with the offering, issuance
or sale of the Shares hereunder or the consummation of the transactions contemplated by this Agreement, except such as have been already
obtained or as may be required under the 1933 Act, the 1933 Act Regulations, the rules of the NYSE, the securities laws, real estate
syndication laws of any U.S. state or non-U.S. jurisdiction or the rules and bylaws of the Financial Industry Regulatory Authority, Inc.
(“FINRA”).

 

(t)  Possession of Licenses and Permits.
Except as disclosed in the Registration Statement, the General Disclosure Package and the Prospectus, to the actual knowledge of the Company
after due inquiry, the Company and its subsidiaries possess such permits, licenses, approvals, consents and other authorizations (collectively,
 “Governmental Licenses”) issued by the appropriate Governmental Entities necessary to conduct the business now operated
by them, except where the failure so to possess would not, singly or in the aggregate, result in a Material Adverse Effect. To the actual
knowledge of the Company after due inquiry, the Company and its subsidiaries are in compliance with the terms and conditions of all such
Governmental Licenses, except where the failure so to comply would not, singly or in the aggregate, result in a Material Adverse Effect.
To the actual knowledge of the Company after due inquiry, all of the Governmental Licenses are valid and in full force and effect, except
when the invalidity of such Governmental Licenses or the failure of such Governmental Licenses to be in full force and effect would not,
singly or in the aggregate, result in a Material Adverse Effect. Except as disclosed in the Registration Statement, the General Disclosure
Package and the Prospectus, neither the Company nor any of its subsidiaries has received any notice of proceedings relating to the revocation
or modification of any such Governmental Licenses which, singly or in the aggregate, if the subject of an unfavorable decision, ruling
or finding, would result in a Material Adverse Effect.

 

(u)  Title to Property. (A) Each
of the Company, any of its subsidiaries or any joint venture in which the Company or any of its subsidiaries owns an interest (each such
joint venture being referred to as a “Related Entity”), as the case may be, has good and marketable fee or leasehold
title to the Properties, in each case, free and clear of all mortgages, pledges, liens, security interests, claims, restrictions or encumbrances
of any kind (excluding taxes, assessments and fees not yet due and payable), other than those that (1) are described in the Registration
Statement, the General Disclosure Package and the Prospectus or (2) to the actual knowledge of the Company after due inquiry, would
not, singly or in the aggregate, materially affect the value of any of the Properties and do not materially interfere with the use made
and proposed to be made of any of the Properties by the Company, any of its subsidiaries or any Related Entity; (B) none of the Company,
any of its subsidiaries or any Related Entity owns any real property other than the Properties; (C) to the actual knowledge of the
Company after due inquiry, each of the ground leases, subleases and sub-subleases relating to a Property, if any, material to the business
of the Company and its subsidiaries, considered as one enterprise, are in full force and effect, with such exceptions as do not materially
interfere with the use made or proposed to be made of such Properties (taken as a whole) by the Company, any of its subsidiaries or any
Related Entity, and (1) to the actual knowledge of the Company after due inquiry, no default or event of default has occurred under
any such ground lease, sublease or sub-sublease with respect to any of the Properties and none of the Company, any of its subsidiaries
or any Related Entity has received any notice of any event which, whether with or without the passage of time or the giving of notice,
or both, would constitute a default under such ground lease, sublease or sub-sublease and (2) none of the Company, any of its subsidiaries
or any Related Entity has received any notice of any material claim of any sort that has been asserted by anyone adverse to the rights
of the Company, any of its subsidiaries or any Related Entity under any of the material ground leases, subleases or sub-subleases mentioned
above, or affecting or questioning the rights of the Company, any of its subsidiaries or any Related Entity to the continued possession
of the leased, subleased or sub-subleased premises under any such ground lease, sublease or sub-sublease; (D) all liens, charges,
encumbrances, claims or restrictions on any of the Properties and the assets of the Company, any of its subsidiaries or any Related Entity
that are required to be disclosed in the Registration Statement or the Prospectus are disclosed therein; (E) to the actual knowledge
of the Company after due inquiry, no tenant under any of the leases at the Properties or any other party has a right of first refusal,
right of first offer or an option to purchase any of the Properties, except for such rights or options that have been expressly waived
in writing by such parties, which written waivers have been provided to the Agents; (F) to the actual knowledge of the Company after
due inquiry, none of the Properties fails to comply with all applicable codes, laws and regulations (including, without limitation, building
and zoning codes, laws and regulations and laws relating to access to the Properties), except if and to the extent disclosed in the Registration
Statement, the General Disclosure Package or the Prospectus and except for such failures to comply that would not, singly or in the aggregate,
reasonably be expected to have a Material Adverse Effect; (G) the mortgages and deeds of trust, if any, that encumber any of the
Properties are not convertible into equity securities of the entity owning such Property and said mortgages and deeds of trust are not
cross-defaulted or cross-collateralized with any property other than certain other Properties; and (H) none of the Company, any of
its subsidiaries or any Related Entity or, to the actual knowledge of the Company after due inquiry, any lessee of any of the Properties
is in default under any of the leases governing the Properties and there is no event which, whether with or without the passage of time
or the giving of notice, or both, would constitute a default under any of such leases, except such defaults that would not, singly or
in the aggregate, result in a Material Adverse Effect.

 

    6 

     

    

 

(v)  Possession of Intellectual Property.
The Company and its subsidiaries own or possess, or can acquire on reasonable terms, adequate patents, patent rights, licenses, inventions,
copyrights, know-how (including trade secrets and other unpatented and/or unpatentable proprietary or confidential information, systems
or procedures), trademarks, service marks, trade names or other intellectual property (collectively, “Intellectual Property”)
reasonably necessary to conduct the business now operated by them, and neither the Company nor any of its subsidiaries has received any
notice or is otherwise aware of any infringement of or conflict with asserted rights of others with respect to any Intellectual Property
or of any facts or circumstances which would render any Intellectual Property invalid or inadequate to protect the interest of the Company
or any of its subsidiaries therein, and which infringement or conflict (if the subject of any unfavorable decision, ruling or finding)
or invalidity or inadequacy, singly or in the aggregate, would reasonably be expected to result in a Material Adverse Effect.

 

(w)  Environmental Laws. Except as disclosed
in the Registration Statement, the General Disclosure Package and the Prospectus and except as would not, singly or in the aggregate,
result in a Material Adverse Effect, (A) none of the Company, any of its subsidiaries, any Related Entity nor, to the actual knowledge
of the Company after due inquiry, any of the Properties is in violation of any Environmental Laws (as defined below), (B) the Company,
its subsidiaries, the Related Entities and, to the actual knowledge of the Company after due inquiry, the Properties have all permits,
authorizations and approvals required under any applicable Environmental Laws and none of the Company, its subsidiaries or the Related
Entities have received any notice that any of them or any of the Properties is not in compliance with their requirements, (C) none
of the Company, its subsidiaries or any Related Entity have received notice of any pending or threatened administrative, regulatory or
judicial actions, suits, demands, demand letters, claims, liens, notices of noncompliance or violation, investigation or proceedings relating
to any Environmental Law or Hazardous Material (as defined below) against the Company, any of its subsidiaries or any Related Entity or,
to the actual knowledge of the Company after due inquiry, otherwise with regard to the Properties, (D) to the actual knowledge of
the Company after due inquiry, there are no events or circumstances that would reasonably be expected to form the basis of an order for
clean-up or remediation, or an action, suit or proceeding by any private party or governmental body or agency, against or affecting the
Properties, the Company, any of its subsidiaries or any Related Entity relating to Hazardous Materials or any Environmental Laws, and
(E) to the actual knowledge of the Company after due inquiry, none of the Properties is included or proposed for inclusion on the
National Priorities List issued pursuant to CERCLA (as defined below) by the United States Environmental Protection Agency or on any similar
list or inventory issued by any other federal, state or local governmental authority pursuant to Environmental Laws. As used herein, “Hazardous
Material” shall mean any flammable explosives, radioactive materials, chemicals, pollutants, contaminants, wastes, hazardous
wastes, toxic substances, mold and any hazardous material as defined by or regulated under any Environmental Law, including, without limitation,
petroleum or petroleum products, and asbestos-containing materials. As used herein, “Environmental Law” shall mean
any applicable foreign, federal, state or local law (including statute or common law), ordinance, rule, regulation or judicial or administrative
order, consent decree or judgment relating to the protection of human health, the environment (including, without limitation, ambient
air, surface water, groundwater, land surface or subsurface strata) or wildlife, including, without limitation, the Comprehensive Environmental
Response, Compensation and Liability Act of 1980, as amended, 42 U.S.C. Secs. 9601-9675 (“CERCLA”), the Hazardous Materials
Transportation Act, as amended, 49 U.S.C. Secs. 5101-5127, the Solid Waste Disposal Act, as amended, 42 U.S.C. Secs. 6901-6992k, the Emergency
Planning and Community Right-to-Know Act of 1986, 42 U.S.C. Secs. 11001-11050, the Toxic Substances Control Act, 15 U.S.C. Secs. 2601-2692,
the Federal Insecticide, Fungicide and Rodenticide Act, 7 U.S.C. Secs. 136-136y, the Clean Air Act, 42 U.S.C. Secs. 7401-7671q, the Clean
Water Act (Federal Water Pollution Control Act), 33 U.S.C. Secs. 1251-1387, and the Safe Drinking Water Act, 42 U.S.C. Secs. 300f-300j-26,
as any of the above statutes may be amended from time to time, and the regulations promulgated pursuant to any of the foregoing.

 

(x)  Utilities and Access. To the actual
knowledge of the Company after due inquiry, water, stormwater, sanitary sewer, electricity and telephone service are all available at
the property lines of each Property over duly dedicated streets or perpetual easements of record benefiting the applicable Property. To
the actual knowledge of the Company after due inquiry, each of the Properties has legal access to public roads and all other roads necessary
for the use of each of the Properties.

 

(y)  No Condemnation. The Company has
no actual knowledge after due inquiry of any pending or threatened condemnation proceedings or zoning change or other proceeding or action
that, if determined adversely, would reasonably be expected to result, singly or in the aggregate, in a Material Adverse Effect.

 

    7 

     

    

 

(z) 
Accounting Controls and Disclosure Controls. The Company maintains effective internal control over financial reporting (as defined
under Rule 13a-15 and 15d-15 of the 1934 Act Regulations) and a system of internal accounting controls sufficient to provide reasonable
assurances that (A) transactions are executed in accordance with management’s general or specific authorization; (B) transactions
are recorded as necessary to permit preparation of financial statements in conformity with GAAP and to maintain accountability for assets;
(C) access to assets is permitted only in accordance with management’s general or specific authorization; (D) the recorded
accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to
any differences and (E) XBRL Data included or incorporated by reference in the Registration Statement fairly present the information
called for in all material respects and are prepared in accordance with the Commission’s rules and guidelines applicable thereto.
Except as described in the Registration Statement, the General Disclosure Package and the Prospectus, since the Company’s inception,
there has been (1) no material weakness in the Company’s internal control over financial reporting (whether or not remediated)
and (2) no change in the Company’s internal control over financial reporting that has materially affected, or is reasonably
likely to materially affect, the Company’s internal control over financial reporting. The Company maintains effective “disclosure
controls and procedures” (as defined under Rule 13a-15(e) of the 1934 Act Regulations) to the extent required by such
rule.

 

(aa) Compliance with the Sarbanes-Oxley Act.
The Company and the Company’s officers or directors, in their capacities as such, are in material compliance with any applicable
provisions of the Sarbanes-Oxley Act of 2002 and any applicable rules and regulations promulgated thereunder or implementing the
provisions thereof (the “Sarbanes-Oxley Act”), including, without limitation, Sections 402, 302 and 906 thereof.

 

(bb) Payment of Taxes. All income and other
material tax returns of the Company and its subsidiaries required by law to be filed have been filed, and all taxes shown by such returns
or otherwise assessed, which are due and payable, have been paid, except assessments against which appeals have been or will be promptly
taken and as to which adequate reserves have been provided. The Company and its subsidiaries have filed all other tax returns that are
required to have been filed by them pursuant to applicable foreign, state, local or other law except insofar as the failure to file such
returns would not, singly or in the aggregate, result in a Material Adverse Effect, and all taxes shown by such returns or otherwise assessed,
which are due and payable, have been paid, except assessments against which appeals have been or will be promptly taken and as to which
adequate reserves have been provided. The charges, accruals and reserves on the books of the Company and its subsidiaries in respect of
any tax liability for any years not finally determined are adequate to meet any assessments or re-assessments for additional tax for any
years not finally determined, except to the extent of any inadequacy that would not, singly or in the aggregate, reasonably be expected
to result in a Material Adverse Effect.

 

(cc) ERISA. The Company is in compliance in
all material respects with all applicable provisions of the Employee Retirement Income Security Act of 1974, as amended, including the
regulations and published interpretations thereunder (“ERISA”). No “reportable event” (as defined in Section 4043
of ERISA) has occurred with respect to any “pension plan” (as defined in Section 3(2) of ERISA) for which the Company
would have any liability. The Company has not incurred nor expects to incur liability under (i) Title IV of ERISA with respect to
termination of, or withdrawal from, any “pension plan” or “multi-employer plan” (as defined in Section 3(37)
of ERISA), or (ii) Sections 412, 403, 431, 432 or 4971 of the Internal Revenue Code of 1986, as amended (the “Code”).
Each “pension plan” for which the Company would have any liability that is intended to be qualified under Section 401(a) of
the Code is so qualified in all material respects and nothing has occurred thereunder, whether by action or by failure to act, which would
cause the loss of such qualification, except where the failure to be so qualified would not, singly or in the aggregate, result in a Material
Adverse Effect.

 

(dd) Business Insurance. The Company and its
subsidiaries carry or are entitled to the benefits of insurance, by recognized and reputable insurers, in such amounts and covering such
risks as are commercially reasonable in the business in which the Company is engaged, and all such insurance is in full force and effect.
The Company has no reason to believe that it or any of its subsidiaries will not be able to (A) renew, if desired, its existing insurance
coverage as and when such policies expire or (B) obtain similar coverage from similar institutions as may be necessary or appropriate
to conduct its business as now conducted and at a cost that would not, singly or in the aggregate, reasonably be expected to result in
a Material Adverse Effect. There are no claims by the Company nor any of its subsidiaries under any insurance policy as to which any insurance
company has denied liability or insurance coverage, except where such denial would not singly or in the aggregate, result in a Material
Adverse Effect.

 

(ee) Title Insurance. The Company and each
of its subsidiaries and each Related Entity, as applicable, carries or is entitled to the benefits of title insurance on the fee interests
and/or leasehold interests (in the case of a ground lease interest) with respect to each Property with recognized and reputable insurers,
in an amount not less than such entity’s cost for the real property comprising such Property, insuring that such party is vested
with good and insurable fee or leasehold title, as the case may be, to each such Property.

 

(ff) Investment Company Act. The Company is
not required, or upon the issuance and sale of the Shares as contemplated herein and the application of the net proceeds therefrom as
described in the Registration Statement, the General Disclosure Package and the Prospectus will be required, to register as an “investment
company” under the Investment Company Act of 1940, as amended (the “1940 Act”).

 

    8 

     

    

 

(gg) Absence of Manipulation. Neither the
Company nor any of its subsidiaries or other affiliates has taken nor will take, directly or indirectly, any action which is designed,
or would reasonably be expected, to cause or result in, or which constitutes, the stabilization or manipulation of the price of any security
of the Company to facilitate the sale or resale of the Shares.

 

(hh) No Unlawful Contributions or Other Payments.
None of the Company, any of its subsidiaries or, to the knowledge of the Company after due inquiry, any director, officer, agent, employee,
affiliate or other person acting on behalf of the Company or any of its subsidiaries has (i) used any corporate funds for any unlawful
contribution, gift, entertainment or other unlawful expense relating to political activity; (ii) made or taken an act in furtherance
of an offer, promise or authorization of any direct or indirect unlawful payment or benefit to any foreign or domestic government official
or employee, including of any government-owned or controlled entity or of a public international organization, or any person acting in
an official capacity for or on behalf of any of the foregoing, or any political party or party official or candidate for political office;
(iii) violated or is in violation of any provision of the Foreign Corrupt Practices Act of 1977, as amended, or any applicable law
or regulation implementing the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions,
or committed an offence under the Bribery Act 2010 of the United Kingdom or any other applicable anti-bribery or anti-corruption law;
or (iv) made, offered, agreed, requested or taken an act in furtherance of any unlawful bribe or other unlawful benefit, including,
without limitation, any rebate, payoff, influence payment, kickback or other unlawful or improper payment or benefit, in each case in
connection with or related to the Company or any of its subsidiaries or businesses; and the Company, its subsidiaries and, to the knowledge
of the Company, its affiliates have conducted their businesses in material compliance with all applicable anti-bribery and anti-corruption
laws and have instituted and maintain policies and procedures designed to ensure, and which are reasonably expected to continue to ensure,
continued compliance therewith.

 

(ii)  Money Laundering Laws. The operations
of each of the Company and its subsidiaries are and have been conducted at all times in compliance with applicable financial recordkeeping
and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the money laundering statutes of
all jurisdictions, the rules and regulations thereunder and any related or similar rules, regulations or guidelines issued, administered
or enforced by any Governmental Entity (collectively, the “Money Laundering Laws”). No action, suit or proceeding or,
to the actual knowledge of the Company after due inquiry, inquiry or investigation by or before any Governmental Entity involving the
Company or any of its subsidiaries with respect to the Money Laundering Laws is pending and, to the actual knowledge of the Company after
due inquiry, no such action, suit, proceeding, inquiry or investigation is threatened.

 

(jj) Sanctions. None of the Company, any of
its subsidiaries nor, to the actual knowledge of the Company after due inquiry, any director, officer, agent, employee, affiliate or other
person acting on behalf of the Company or any of its subsidiaries is currently subject or the target of any sanctions administered or
enforced by the U.S. government (including, without limitation, the Office of Foreign Assets Control of the U.S. Department of the Treasury
(“OFAC”) or the U.S. Department of State and including, without limitation, the designation as a “specially designated
national” or “blocked person”), the United Nations Security Council (“UNSC”), the European Union,
Her Majesty’s Treasury (“HMT”) or other relevant sanctions authority (collectively, “Sanctions”),
nor is the Company or any of its subsidiaries located, organized or resident in a country or territory that is the subject or target of
comprehensive Sanctions, including, without limitation, the Crimea, Donetsk, and Luhansk regions of Ukraine, Cuba, Iran, North Korea
and Syria (each, a “Sanctioned Country”); and the Company will not directly or indirectly use the proceeds of the sale
of the Shares hereunder or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other
person or entity (i) to fund or facilitate any activities of or business with any person that, at the time of such funding or facilitation,
is the subject or target of Sanctions, (ii) to fund or facilitate any activities of or business in any Sanctioned Country or (iii) to
cause in any other manner a violation by any person (including any person participating in the transaction, whether as agent, underwriter,
advisor, investor or otherwise) of Sanctions. For the past five years, the Company and its subsidiaries have not knowingly engaged in
and are not now knowingly engaged in any dealings or transactions with any person that at the time of the dealing or transaction is or
was the subject or the target of Sanctions or with any Sanctioned Country in violation of any Sanctions.

 

(kk) Statistical and Market-Related Data.
Any statistical and market-related data included in the Registration Statement, the General Disclosure Package or the Prospectus are based
on or derived from sources that the Company reasonably and in good faith believes to be reliable and accurate in all material respects.

 

(ll) Real Estate Investment Trust; Operating Partnership.
Commencing with its taxable year ended December 31, 2015, the Company was organized and has operated in conformity with the requirements
for qualification and taxation as a real estate investment trust (“REIT”) under the Code, and the Company’s current
and proposed method of operation will enable the Company to meet the requirements for qualification and taxation as a REIT under the Code
for its taxable year ending December 31, 2018 and thereafter. All statements regarding the Company’s qualification and taxation
as a REIT and descriptions of the Company’s organization and proposed method of operation (inasmuch as they relate to the Company’s
qualification and taxation as a REIT) set forth in the Registration Statement, the General Disclosure Package and the Prospectus are accurate
and fair summaries of the legal or tax matters described therein in all material respects. The Operating Partnership has been and will
be treated either as a “partnership” within the meaning of Sections 7701(a)(2) and 761(a) of the Code or an entity
disregarded from the Company for federal and applicable state income tax purposes, and not as a “publicly traded partnership”
taxable as a corporation under Section 7704 of the Code.

 

    9 

     

    

 

(mm) Prior Sales of Common Stock or OP Units.
Except as disclosed in the Registration Statement, the General Disclosure Package and the Prospectus, the Company has not issued, sold
or distributed any shares of Common Stock and the Operating Partnership has not issued, sold or distributed any units of limited partnership
(“OP Units”) in Community Healthcare OP, LP, a Delaware limited partnership
(the “Operating Partnership”).

 

(nn) Approval of Listing. The Shares have
been approved for listing on the NYSE, subject to official notice of issuance.

 

(oo) Distributions. Except as disclosed in
the Registration Statement, the General Disclosure Package and the Prospectus and, for the avoidance of doubt, except in connection with
certain restrictive covenants contained in the Third Amended and Restated Credit Agreement, dated as of March 19, 2021, by and among
the Company, as borrower, the several banks and financial institutions party thereto as lenders, and Truist Bank, as administrative agent,
(A) the Company is not currently prohibited, directly or indirectly, from making any distributions to its stockholders and (B) neither
the Operating Partnership nor any subsidiary thereof is prohibited, directly or indirectly, from making any distributions to the Company
or any other subsidiary of the Operating Partnership, from making any other distribution on any of its equity interests or from repaying
any loans or advances made by the Company, the Operating Partnership or any other subsidiary of the Operating Partnership.

 

(pp) Finder’s Fees. Except as disclosed
in the Registration Statement, the General Disclosure Package and the Prospectus, the Company has not incurred any liability for any finder’s
fees or similar payments in connection with the offering and sale of the Shares contemplated in this Agreement, except as may otherwise
exist with respect to the Agents pursuant to this Agreement.

 

(qq) Certain Relationships. No relationship,
direct or indirect, exists between or among the Company, on the one hand, and the directors, officers, stockholders, partners, customers
or suppliers of the Company, on the other hand, which is required to be described in the Registration Statement, the General Disclosure
Package or the Prospectus which is not so described.

 

(rr) No Ratings. No securities issued by or
loans to the Company or any of its subsidiaries are rated by any “nationally recognized statistical rating organization” (as
defined for purposes of Rule 436(g) under the 1933 Act).

 

(ss) Forward-Looking Statements. The information
contained in the Registration Statement, the General Disclosure Package, the Prospectus and any Issuer Free Writing Prospectus that constitutes
 “forward looking” information within the meaning of Section 27A of the 1933 Act and Section 21E of the 1934 Act
were made by the Company on a reasonable basis and reflect the Company’s good faith belief or estimate of the matters described
therein.

 

(tt) Cybersecurity; Data Protection. The Company
and its subsidiaries’ information technology assets, equipment, computers, systems, networks, hardware, software, websites, applications,
and databases (collectively, “IT Systems”) are adequate for, and operate and perform in all material respects as required
in connection with, the operation of the business of the Company and its subsidiaries as currently conducted, and to the Company’s
knowledge are free and clear of all bugs, errors, defects, Trojan horses, time bombs, malware and other corruptants except those that
would not, singly or in the aggregate, result in a Material Adverse Effect. The Company and its subsidiaries have implemented and maintained
reasonable and appropriate safeguards designed to maintain and protect their material confidential information and the integrity, availability,
and security of all IT Systems and all personal, personally identifiable, or otherwise regulated personal data (“Personal Data”)
used in connection with their respective businesses reasonably consistent with industry standards and practices, or as required by applicable
regulatory standards, and, to the Company’s knowledge, there have been no breaches, violations, outages or unauthorized uses of
or access to the same, nor any incidents under internal review or investigations relating to the same, except, in each case, for those
that would not, singly or in the aggregate, result in a Material Adverse Effect. The Company and its subsidiaries are presently in compliance
with all applicable laws or statutes and all judgments, orders, rules and regulations of any court or arbitrator or governmental
or regulatory authority relating to the privacy and security of IT Systems and Personal Data and to the protection of such IT Systems
and Personal Data from unauthorized use, access, misappropriation or modification except where such non-compliance would not, would not,
singly or in the aggregate, result in a Material Adverse Effect.

 

(uu) No Other Materials. The Company has not
distributed and, prior to the later to occur of (i) each Applicable Time and (ii) completion of the distribution of the Shares,
will not distribute any prospectus (as such term is defined in the 1933 Act and the rules and regulations promulgated by the Commission
thereunder) in connection with the offering and sale of the Shares other than the Registration Statement, the General Disclosure Package
and the Prospectus or other materials, if any, permitted by the 1933 Act or by the rules and regulations promulgated by the Commission
thereunder and approved by the Agents.

 

(vv) Certificates. Any certificate signed
by any officer of the Company delivered to the Agents or to counsel for the Agents shall be deemed a representation and warranty by the
Company to the Agents as to the matters covered thereby.

 

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3. (a) On the basis of the representations,
warranties and agreements herein contained and subject to the terms and conditions set forth herein, upon an Agent’s acceptance
of the terms of a Placement Notice (as defined in Section 3(b) below) or such other instructions provided by the Company to
such Agent pursuant to Section 3(b) or upon receipt by such Agent of an Acceptance (as defined in Section 3(c) below),
as the case may be, and unless the sale of the Placement Shares (as defined in Section 3(b) below) as described therein has
been declined, suspended or otherwise terminated in accordance with the terms of this Agreement, the Company agrees to issue and sell
through the applicable Agent, as sales agent, and such Agent agrees, subject to the limitations and provisions in this Section 3
or as may otherwise be agreed to between the parties from time to time, to use its commercially reasonable efforts consistent with its
normal trading and sales practices to sell as sales agent for the Company, the Shares. Sales of the Shares, if any, through any Agent
acting as sales agent will be made by means of ordinary brokers’ transactions or otherwise at market prices prevailing at the time
of sale, at prices related to prevailing market prices or at negotiated prices.

 

(b)  The Shares are to be sold on a daily basis
or otherwise as shall be agreed to by the Company and the applicable Agent on any day that is a trading day for the NYSE (other than a
day on which the NYSE is scheduled to close prior to its regular weekday closing time) (each, a “Trading Day”), and
on which the Company has instructed such Agent to make such sales and such Agent has agreed to make such sales, in each case in accordance
with Section 3(c) below. On any Trading Day, the Company may sell Shares through any one Agent of the Company’s choice
in its sole discretion. For the avoidance of doubt, the foregoing limitation to sell Shares through only one of the Agents of the Company’s
choice on any Trading Day shall not apply to sales solely to employees or security holders of the Company or its Subsidiaries, or to a
trustee or other person acquiring such securities for the accounts of such persons in which Piper Sandler & Co., Evercore Group
L.L.C., Truist Securities, Inc., Regions Securities LLC, Fifth Third Securities, Inc., Janney Montgomery Scott LLC or Robert
W. Baird & Co. Incorporated is acting for the Company in a capacity other than as an Agent under this Agreement.. Prior to the
commencement of the offering, when the Company wishes to issue and sell the Shares hereunder, it will notify the applicable Agent at least
one or five (as applicable) “business days,” as defined in Rule 100 of Regulation M (a “Regulation M Business
Day”), prior to the Trading Day on which sales are desired to commence by e-mail notice (or other method mutually agreed to
in writing by the parties) containing the parameters in accordance with which it desires the Shares to be sold, which shall at a minimum
include the number of Shares desired to be issued (the “Placement Shares”), a form of which containing such minimum
sales parameters necessary is attached hereto as Annex I (a “Placement Notice”). The Placement Notice shall originate
from any of the individuals from the Company set forth on Schedule I (with a copy to each of the other individuals from the Company listed
on such schedule), and shall be addressed to each of the individuals from the applicable Agent set forth on Schedule I as shall be set
forth in a written notice from such Agent to the Company from time to time. On any Trading Day that the Company wishes to issue and sell
the Shares hereunder (each, a “Placement”), the Company may, prior to 9:30 a.m. (New York City Time) on such Trading
Day, instruct the applicable Agent by telephone (confirmed promptly by email, which confirmation will be promptly acknowledged by the
Agent), or such other method mutually agreed to in writing by the parties, as to the maximum number of Shares to be sold by such Agent
on such day (in any event not in excess of the number available for sale under the Prospectus and the currently effective Registration
Statement) and the minimum price per Share at which such Shares may be sold. For purposes of this Agreement, whenever a party is required
to take action or refrain from taking action one or five Regulation M Business Days prior to a particular date, the determination as to
whether the applicable period shall be one or five Regulation M Business Days will depend on whether, at the particular time in question,
the applicable “restricted period,” as defined in Rule 100 of Regulation M, for the Shares is one or five Regulation
M Business Days.

 

(c)  If the applicable Agent agrees to accept
such proposed terms included in the Placement Notice (which it may decline to do for any reason in its sole discretion) or, following
discussion with the Company, agrees to accept amended terms, such Agent will, prior to 4:30 p.m. (New York City Time) on the business
day following the business day on which such Placement Notice is delivered to such Agent, issue to the Company a notice by e-mail (or
other method mutually agreed to in writing by the parties) addressed to all of the individuals from the Company and such Agent set forth
on Schedule I) setting forth the terms that such Agent is willing to accept. Where the terms provided in the Placement Notice are amended
as provided for in the immediately preceding sentence, such terms will not be binding on the Company or the applicable Agent until the
Company delivers to such Agent an acceptance by e-mail (or other method mutually agreed to in writing by the parties) of all of the terms
of such Placement Notice, as amended (the “Acceptance”), which e-mail shall be addressed to all of the individuals
from the Company and the applicable Agent set forth on Schedule I. The Placement Notice (as amended by the corresponding Acceptance, if
applicable) shall be effective upon receipt by the Company of such Agent’s acceptance of the terms of the Placement Notice or upon
receipt by such Agent of the Company’s Acceptance, as the case may be, unless and until (i) the entire amount of the Placement
Shares set forth in the Placement Notice has been sold, (ii) the Company issues a subsequent Placement Notice with parameters superseding
those on the earlier dated Placement Notice, (iii) this Agreement has been terminated under the provisions of Section 10 or
(iv) either party shall have suspended the sale of the Placement Shares in accordance with the terms of this Agreement. It is expressly
acknowledged and agreed that neither the Company nor the applicable Agent will have any obligation whatsoever with respect to a Placement
or any Placement Shares unless and until the Company delivers a Placement Notice to such Agent and either (x) such Agent accepts
the terms of such Placement Notice or (y) where the terms of such Placement Notice are amended, the Company accepts such amended
terms by means of an Acceptance pursuant to the terms set forth above, and then only upon the terms specified in the Placement Notice
(as amended by the corresponding Acceptance, if applicable) and herein. In the event of a conflict between the terms of this Agreement
and the terms of a Placement Notice (as amended by the corresponding Acceptance, if applicable), the terms of the Placement Notice (as
amended by the corresponding Acceptance, if applicable) will control.

 

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(d)  The Company or the applicable Agent may,
upon notice to the other party hereto by telephone (confirmed promptly by e-mail to those individuals specified on Schedule I), suspend
or terminate the offering of the Shares for any reason and at any time; provided, however, that such suspension or termination shall not
affect or impair the parties’ respective obligations with respect to the Shares sold hereunder or which an investor has agreed to
purchase but which have not been delivered by the Company and paid for by such investor as contemplated hereby, prior to the giving of
such notice.

 

(e)  Under no circumstances shall the aggregate
gross sale price or number of Shares sold pursuant to this Agreement exceed (i) the Maximum Amount, as reduced by the aggregate gross
sales price of prior sales of Shares under this Agreement, (ii) the amount available for issuance under the Prospectus and the then
currently effective Registration Statement or (iii) authorized from time to time to be issued and sold under this Agreement by the
Board or the Designated Subcommittee and notified to the applicable Agent in writing. In addition, under no circumstances shall any Shares
be sold at a price lower than the minimum price therefor authorized from time to time by the Company’s board of directors (the “Board”)
or a duly authorized committee or subcommittee thereof (the “Designated Subcommittee”) and notified to the applicable
Agent in writing. Notwithstanding anything to the contrary contained herein (other than the following sentence), the parties hereto agree
that compliance with the limitations set forth in this Section 3(e) regarding the aggregate offering price of the Shares issued
and sold under this Agreement shall be the sole responsibility of the Company, and the applicable Agent shall have no obligation in connection
with such compliance. Each Agent covenants and agrees not to make any sales of the Shares on behalf of the Company other than as permitted
by the terms of this Agreement.

 

(f)  Subject to the terms of the Placement Notice
(as amended by the corresponding Acceptance, if applicable) or such other instructions provided by the Company to the applicable Agent
pursuant to Section 3(b), such Agent may sell Placement Shares by any method permitted by law deemed to be an “at the market”
offering as defined in Rule 415 of the 1933 Act, including without limitation sales made directly on the NYSE, on any other existing
trading market for the Common Stock or to or through a market maker. Subject to the terms of the Placement Notice (as amended by the corresponding
Acceptance, if applicable) or such other instruction provided by the Company to the applicable Agent pursuant to Section 3(b), such
Agent may also sell Placement Shares by any other method permitted by law, including but not limited to privately negotiated transactions
subject to the prior written approval of the Company. Notwithstanding anything to the contrary herein and for a period of time beginning
one or five Regulation M Business Days, as applicable, prior to the time when the first sale pursuant to a Placement Notice occurs and
continuing through the time such Placement Notice is in effect, the applicable Agent agrees that in no event will it or any of its affiliates
engage in any market making, stabilization or other market or trading activity with regard to the Shares if such activity would be prohibited
under Regulation M or other anti-manipulation rules under the 1933 Act or the 1934 Act.

 

(g)  The compensation payable to the applicable
Agent for sales of Shares in no event shall exceed 2.00% of the gross sales price of the Shares. The remaining proceeds, after further
deduction for any transaction fees, transfer taxes or other similar fees, taxes or charges imposed by any federal, state, local or other
governmental, regulatory or self-regulatory organization in respect of such sales, shall constitute the net proceeds to the Company for
such Shares (the “Net Proceeds”). The applicable Agent shall notify the Company as promptly as practicable if any deduction
described in the preceding sentence will be required.

 

(h)  The applicable Agent shall provide written
confirmation (which may be by e-mail) to the Company following the close of trading on the NYSE each day on which Shares are sold under
this Agreement setting forth the number of Shares sold on such day, the gross sales prices of the Shares, the Net Proceeds to the Company
and the compensation payable by the Company to such Agent under this Agreement with respect to such sales.

 

(i)  Settlement for sales of Shares will occur
on the second business day that is also a Trading Day following the trade date on which such sales are made, unless another date shall
be agreed to by the Company and the applicable Agent (each such day, a “Delivery Date”). On each Delivery Date, the
Shares sold through the applicable Agent for settlement on such date shall be delivered by the Company to such Agent against payment of
the Net Proceeds from the sale of such Shares. Settlement for all Shares shall be effected by book-entry delivery of Shares to the applicable
Agent’s account at The Depository Trust Company against payment by such Agent of the Net Proceeds from the sale of such Shares in
same day funds delivered to an account designated by the Company. If the Company or its transfer agent (if applicable) shall default on
its obligation to deliver Shares through the applicable Agent on any Delivery Date, the Company shall (A) indemnify and hold such
Agent harmless against any loss, claim or damage arising from or as a result of such default by the Company and (B) pay such Agent
any commission to which it would otherwise be entitled absent such default. If the applicable Agent breaches this Agreement by failing
to deliver the applicable Net Proceeds on any Delivery Date for Shares delivered by the Company, such Agent will pay the Company interest
based on the effective overnight federal funds rate until such proceeds, together with such interest, have been fully paid.

 

(j)  The Company agrees that any offer to sell,
any solicitation of an offer to buy, or any sales of Shares or any other equity security of the Company shall only be effected by or through
the applicable Agent, from the period beginning one or five Regulation M Business Days, as applicable, prior to the time when the first
sale pursuant to a Placement Notice occurs and continuing through the time such Placement Notice is in effect; provided, however, that
the foregoing limitation shall not apply to (i) exercise of any option, warrant, right, unit or any conversion privilege set forth
in the instrument governing such security or any other security of the Company or the Subsidiaries or (ii) issuances and sales solely
to employees, directors or security holders of the Company or the Subsidiaries, or to a trustee or other person acquiring such securities
for the accounts of such persons.

 

    12 

     

    

 

(k)  The Company consents to the Agents trading
in the Common Stock for the Agents’ own accounts and for the accounts of their clients at the same time as sales of the Shares occur
pursuant to this Agreement or pursuant to a Terms Agreement.

 

(l)  The Company acknowledges and agrees that
(i) there can be no assurance that the Agents will be successful in selling the Shares, (ii) the Agents may not solicit any
offers to buy the Shares, (iii) the Agents will incur no liability or obligation to the Company or any other person or entity if
they do not sell the Shares for any reason other than a failure by the Agents to use their commercially reasonable efforts consistent
with their normal trading and sales practices to sell such Shares as required under this Section 3, subject to the limitations and
provisions in this Section 3 or as may otherwise be agreed to between the parties from time to time and (iv) the Agents shall
be under no obligation to purchase Shares on a principal basis pursuant to this Agreement, except as otherwise agreed by the applicable
Agent and the Company in a Terms Agreement.

 

(m)  At each Applicable Time, each Delivery
Date and each Representation Date, the Company shall be deemed to have affirmed each representation, warranty, covenant and other agreement
contained in this Agreement. Any obligation of the Agents to use their commercially reasonable efforts to sell the Shares on behalf of
the Company shall be subject to the continuing accuracy of the representations and warranties of the Company, to the performance by the
Company of its obligations hereunder and to the continuing satisfaction of the additional conditions specified in Section 8 of this
Agreement.

 

4. Alternative Arrangements.

 

(a)  If the Company wishes to issue and sell
the Shares through any Agent of the Company’s choice other than as set forth in Section 3 of this Agreement (an “Alternative
Placement”), it will notify the applicable Agent of the proposed terms of such Alternative Placement. If such Agent, acting
as principal or agent, wishes to accept such proposed terms (which it may decline to do for any reason in its sole discretion) or, following
discussions with the Company wishes to accept amended terms, such Agent and the Company will enter into a Terms Agreement, setting forth
the terms of such Alternative Placement.

 

(b)  The terms set forth in a Terms Agreement
will not be binding on the Company or any Agent unless and until the Company and such Agent have each executed such Terms Agreement accepting
all of the terms of such Terms Agreement. In the event of a conflict between the terms of this Agreement and the terms of a Terms Agreement,
the terms of such Terms Agreement will control.

 

5. (a) Notwithstanding any other provision
of this Agreement, (i) the Company shall not offer or sell, or instruct the Agents to offer or sell, any Shares, (ii) the Company,
by notice to the Agents given by telephone (confirmed promptly by e-mail), shall cancel any instructions for such offer or sale of Shares,
and (iii) the Agents shall not be obligated to offer or sell any Shares, (x) at any time or during any period that the Company
is or could be deemed to be, or the Agents reasonably believe that the Company is, in possession of material non-public information or
(y) except as provided in Section 5(b) below, at any time from and including the date (each, an “Announcement
Date”) on which the Company shall issue a press release containing, or shall otherwise publicly announce, its earnings, revenues
or other results of operations (each, an “Earnings Announcement”) through and including the time that is twenty-four
(24) hours after the time that the Company files (a “Filing Time”) a Quarterly Report on Form 10-Q or an Annual
Report on Form 10-K that includes consolidated financial statements as of and for the same period or periods, as the case may be,
covered by such Earnings Announcement. For purposes of this Section 5(a) and Section 5(b) below, references to “twenty-four
(24) hours” shall exclude any hours in a day that is not a business day.

 

(b)  If the Company wishes to offer or sell
Shares on any date during the period from and including an Announcement Date through and including the time that is twenty-four (24) hours
after the corresponding Filing Time, the Company shall (i) prepare and deliver to the Agents (with a copy to counsel to the Agents)
a Current Report on Form 8-K which shall include substantially the same financial and related information as was set forth in the
relevant Earnings Announcement (other than any earnings projections or similar forward-looking data) (each, an “Earnings 8-K”),
in form and substance reasonably satisfactory to the Agents, and obtain the consent of the Agents to the filing thereof (such consent
not to be unreasonably withheld, conditioned or delayed), (ii) provide the Agents with the officers’ certificate and accountants’
letter called for by Sections 6(n) and (p), respectively, and (iii) file (and not furnish) such Earnings 8-K with the Commission.
If the Company fully satisfies the requirements of clauses (i) through (iii) of this Section 5(b), then the provisions
of Section 5(a), except as otherwise provided herein, shall not be applicable for the period from and after the time at which the
foregoing conditions shall have been satisfied (or, if later, the time that is twenty-four (24) hours after the time that the relevant
Earnings Announcement was first publicly released) through and including the time that is twenty-four (24) hours after the Filing Time
of the relevant Quarterly Report on Form 10-Q or Annual Report on Form 10-K, as the case may be. For purposes of clarity, the
parties hereto agree that (A) the delivery of any officers’ certificate or accountants’ letter pursuant to this Section 5(b) shall
not relieve the Company from any of its obligations under this Agreement with respect to any such Quarterly Report on Form 10-Q or
Annual Report on Form 10-K, as the case may be, including, without limitation, the obligation to deliver officers’ certificates,
accountants’ letters and legal opinions and related letters as provided in Section 8 hereof, (B) this Section 5(b) shall
in no way affect the provisions of clause (x) of Section 5(a), which shall have independent application and (C) the provisions
of this Section 5(b) shall in no way affect the Company’s ability to file, subject to compliance with other applicable
provisions of this Agreement, Current Reports on Form 8-K relating to earnings or other matters.

 

    13 

     

    

 

6. The Company agrees with the Agents as follows:

 

(a)  The Company will prepare the Prospectus
in a form approved by the Agents and file such Prospectus pursuant to Rule 424(b) under the 1933 Act on or prior to the date
that is one business day following the date hereof unless otherwise agreed to by the Agents and will make no further amendment or any
supplement to the Registration Statement or Prospectus (other than through any documents incorporated therein by reference) which shall
be reasonably disapproved by the Agents promptly after reasonable notice thereof; to advise the Agents, promptly after it receives notice
thereof, of the time when any amendment to the Registration Statement has been filed or becomes effective or any supplement to the Prospectus
or any amended Prospectus has been filed and during the Prospectus Delivery Period (defined as such period of time after the first date
of the public offering of the Shares as in the opinion of counsel for the Agents a prospectus relating to the Shares is required by law
to be delivered (or required to be delivered but for Rule 172 under the 1933 Act) in connection with sales of the Shares) to furnish
the Agents with copies thereof; to advise the Agents, promptly after it receives notice thereof, of the issuance by the Commission of
any stop order or of any order preventing or suspending the use of any Issuer Free Writing Prospectus or Prospectus, of the suspension
of the qualification of the Shares for offering or sale in any jurisdiction, of the initiation or threatening of any proceeding for any
such purpose, or of any request by the Commission for the amending or supplementing of the Registration Statement, any Issuer Free Writing
Prospectus or Prospectus or for additional information; and, in the event of the issuance of any stop order or of any order preventing
or suspending the use of any Issuer Free Writing Prospectus or Prospectus or suspending any such qualification, promptly to use its commercially
reasonable efforts to obtain the withdrawal of such order.

 

(b)  The Company will, during any period when
the delivery of a prospectus is required in connection with the offering or sale of Shares (including, without limitation, pursuant to
Rule 173(d) of the 1933 Act), if any event shall have occurred as a result of which the Prospectus as then amended or supplemented
would include an untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein,
in the light of the circumstances under which they were made, not misleading, or, if for any other reason it shall be necessary to amend
or supplement the Prospectus (including, without limitation, any document incorporated by reference therein) in order to comply with the
1933 Act or the 1934 Act, notify the Agents and, upon their request, file such document and prepare and furnish without charge to the
Agents as many copies as the Agents may from time to time reasonably request of an amended or supplemented Prospectus (or incorporated
document, as the case may be) that will correct such statement or omission or effect such compliance. Upon such notification, the Agents
will cease selling the Shares on the Company’s behalf pursuant to this Agreement and suspend the use of the Prospectus until such
amendment or supplement is filed; provided, however, that such suspension or termination shall not affect or impair the parties’
respective obligations with respect to the Shares sold hereunder or which an investor has agreed to purchase but which has not been delivered
by the Company and paid for by such investor as contemplated hereby, prior to the giving of such notice.

 

(c)  The Company represents and agrees that,
unless it obtains the prior written consent of the Agents, and the Agents represent and agree that, unless they obtain the prior written
consent of the Company, they have not made and will not make any offer relating to the Shares that would constitute an “issuer free
writing prospectus,” as defined in Rule 433 under the 1933 Act, or that would otherwise constitute a “free writing prospectus,”
as defined in Rule 405 under the 1933 Act, required to be filed with the Commission. Any such free writing prospectus consented to
by the Company and the Agents is hereinafter referred to as a “Permitted Free Writing Prospectus.” The Company represents
that it has treated or agrees that it will treat each Permitted Free Writing Prospectus as an “issuer free writing prospectus,”
as defined in Rule 433, and has complied and will comply with the requirements of Rule 433 applicable to any Permitted Free
Writing Prospectus, including timely filing with the Commission where required, legending and record keeping. The Company represents that
it has satisfied the conditions in Rule 433 to avoid a requirement to file with the Commission any electronic road show.

 

(d)  Promptly from time to time to take such
action as the Agents may reasonably request to qualify the Shares for offering and sale under the securities laws of such jurisdictions
as the Agents may request and to comply with such laws so as to permit the continuance of sales and dealings therein in such jurisdictions
for as long as may be necessary to complete the distribution of the Shares, provided that in connection therewith the Company shall not
be required to qualify as a foreign corporation or to file a general consent to service of process in any jurisdiction.

 

(e)  During the period in which a prospectus
is required to be delivered under the 1933 Act or the 1934 Act in connection with any sale of Shares (including, without limitation, pursuant
to Rule 173(d) of the 1933 Act), to furnish the Agents with copies of the Prospectus or a supplement to the Prospectus in New
York City in such quantities as the Agents may from time to time reasonably request.

 

(f)  To make generally available to its securityholders
as soon as practicable an earnings statement of the Company and its consolidated subsidiaries (which need not be audited) complying with
Section 11(a) of the 1933 Act and the rules and regulations thereunder (including, at the option of the Company, Rule 158).

 

(g)  To furnish to its stockholders, as soon
as practicable after the end of each fiscal year, an annual report (including a balance sheet and statements of income, stockholders’
equity and cash flows of the Company and its consolidated subsidiaries certified by an independent registered public accounting firm)
and, as soon as practicable after the end of each of the first three quarters of each fiscal year (beginning with the fiscal quarter ending
after the effective date of the Registration Statement), to make available to its stockholders consolidated summary financial information
of the Company and its consolidated subsidiaries for such quarter in reasonable detail.

 

    14 

     

    

 

(h)  Until the earlier of the Shares ceasing
to be outstanding or the third year anniversary of the latest effective date of the Registration Statement, to furnish to the Agents copies
of all reports or other communications (financial or other) furnished to stockholders, and to deliver to you as soon as they are available,
copies of any reports and financial statements furnished to or filed with the Commission or any national securities exchange on which
any class of securities of the Company is listed; provided the Company will be deemed to have furnished such reports and financial statements
to the Agents to the extent they are filed on the Commission’s EDGAR system.

 

(i)  To use the net proceeds received by it
from the sale of the Shares pursuant to this Agreement in the manner specified in each of the General Disclosure Package and the Prospectus
under the caption “Use of Proceeds.”

 

(j)  To use its reasonable best efforts to list
the Shares on the NYSE.

 

(k)  To file with the Commission such information
on Form 10-K or Form 10-Q as may be required by Rule 463 under the 1933 Act.

 

(l)  To comply, and to use its reasonable best
efforts to cause the Company’s directors and officers, in their capacities as such, to comply, in all material respects, with all
effective applicable provisions of the Sarbanes-Oxley Act and the rules and regulations thereunder.

 

(m)  The Company will reasonably cooperate on
a timely basis with any reasonable due diligence request from, or review conducted by, the Agents or their counsel from time to time in
connection with the transactions contemplated hereby, including, without limitation, and upon reasonable notice, providing information
and making available documents and appropriate corporate officers, during regular business hours and at the Company’s principal
offices and/or by telephone, as the Agents or their counsel may reasonably request (each such process, a “Due Diligence Process”).

 

(n)  Upon commencement of the offering of Shares
under this Agreement, promptly after each (i) date the Registration Statement or the Prospectus shall be amended or supplemented
(other than (1) by an amendment or supplement providing solely for the determination of the terms of the Shares, (2) in connection
with the filing of any report or other document under Section 13, 14 or 15(d) of the 1934 Act or (3) by a prospectus supplement
relating to the offering of other securities (including, without limitation, other shares of Common Stock)) (each such date, a “Registration
Statement Amendment Date”), (ii) date on which the Company shall file (x) an Annual Report on Form 10-K, Quarterly
Report on Form 10-Q or Earnings 8-K or (y) an amendment to any such report or document (each such date, a “Company
Periodic Report Date”) and, (iii) reasonable request by the Agents; provided, that such request follows a Due Diligence
Process (each date of any such request, a “Supplemental Request Date”) (each of the date of the commencement of the
offering of Shares under this Agreement and each Registration Statement Amendment Date, Company Periodic Report Date and Supplemental
Request Date is hereinafter referred to as a “Representation Date”), the Company will furnish or cause to be furnished
to the Agents (with a copy to counsel to the Agents), unless the Agents otherwise agree in writing, a certificate dated such Representation
Date (or, in the case of an amendment or supplement to the Registration Statement or the Prospectus (including, without limitation, by
the filing of an Annual Report on Form 10-K, Quarterly Report on Form 10-Q or Earnings 8-K or any amendment thereto), the date
of the effectiveness of such amendment to the Registration Statement or the date of filing with the Commission of such supplement or any
such Form 10-K, Form 10-Q, Earnings 8-K or amendment thereto, as the case may be), in a form reasonably satisfactory to the
Agents to the effect that the statements contained in the certificate referred to in Section 8(j) of this Agreement which was
last furnished to the Agents are true and correct as of the date of such certificate as though made at and as of the date of such certificate
(except that such statements shall be deemed to relate to the Registration Statement, the Prospectus and the General Disclosure Package
as amended and supplemented to the date of such certificate) or, in lieu of such certificate, a certificate of the same tenor as the certificate
referred to in Section 8(j), but modified as necessary to relate to the Registration Statement, the Prospectus and the General Disclosure
Package as amended and supplemented to the date of such certificate. As used in this paragraph, to the extent there shall be an Applicable
Time on or following the applicable Representation Date, “promptly” shall be deemed to be on or prior to the next succeeding
Applicable Time.

 

(o)  Upon commencement of the offering of Shares
under this Agreement, and promptly after each other Representation Date, the Company will furnish or cause to be furnished to the Agents
(with a copy to counsel to the Agents), unless the Agents otherwise agree in writing, the written opinion and letter of counsel to the
Company, dated such Representation Date (or, in the case of an amendment or supplement to the Registration Statement or the Prospectus
(including, without limitation, by the filing of an Annual Report on Form 10-K or Quarterly Report on Form 10-Q or any amendment
thereto), the date of the effectiveness of such amendment to the Registration Statement or the date of filing with the Commission of such
supplement or any such Form 10-K, Form 10-Q or amendment thereto, as the case may be), in a form and substance reasonably satisfactory
to the Agents and their counsel, of the same tenor as the opinions and letters referred to in Section 8(c) of this Agreement,
but modified as necessary to relate to the Registration Statement, the Prospectus and the General Disclosure Package as amended and supplemented
to the date of such opinion and letter or, in lieu of such opinion and letter, counsel last furnishing any such opinion and letter to
the Agents shall furnish the Agents with a letter substantially to the effect that the Agents may rely on such counsel’s last opinion
and letter to the same extent as though each were dated the date of such letter authorizing reliance (except that statements in such last
opinion and letter shall be deemed to relate to the Registration Statement, the Prospectus and the General Disclosure Package as amended
and supplemented to the date of such letter authorizing reliance). As used in this paragraph, to the extent there shall be an Applicable
Time on or following the applicable Representation Date, “promptly” shall be deemed to be on or prior to the next succeeding
Applicable Time. Solely for the purposes of this paragraph, the term “Representation Date” shall not include the date of filing
of any Earnings 8-K or any amendment thereto.

 

    15 

     

    

 

(p)  Upon commencement of the offering of Shares
under this Agreement, and promptly after each other Representation Date, the Company will cause BDO USA, LLP, or other independent accountants
reasonably satisfactory to the Agents, to furnish to the Agents (with a copy to counsel to the Agents), unless the Agents otherwise agree
in writing, a letter, dated such Representation Date (or, in the case of an amendment or supplement to the Registration Statement or the
Prospectus (including, without limitation, by the filing of an Annual Report on Form 10-K, Quarterly Report on Form 10-Q, Earnings
8-K or any amendment thereto), the date of the effectiveness of such amendment to the Registration Statement or the date of filing with
the Commission of such supplement or any such Form 10-K, Form 10-Q, Earnings 8-K or any amendment thereto, as the case may be),
in form reasonably satisfactory to the Agents and their counsel, of the same tenor as the letter referred to in Section 8(e) hereof,
but modified as necessary to relate to the Registration Statement, the Prospectus and the General Disclosure Package as amended and supplemented
to the date of such letter. As used in this paragraph, to the extent there shall be an Applicable Time on or following the applicable
Representation Date, “promptly” shall be deemed to be on or prior to the next succeeding Applicable Time.

 

(q)  The Company will not, and will cause its
subsidiaries not to, and use reasonable efforts to cause its affiliates and any person acting on their behalf not to, directly or indirectly,
(i) take any action designed to or that has constituted or that reasonably would be expected to cause or result in the stabilization
or manipulation of the price of any security of the Company or (ii) sell, bid for or purchase the Shares to be issued and sold pursuant
to this Agreement, or pay anyone any compensation for soliciting purchases of the Shares to be issued and sold pursuant to this Agreement
other than the Agents.

 

(r)  During the pendency of any Placement Notice
(as amended by the corresponding Acceptance, if applicable) given hereunder, (i) the Company shall provide the Agents notice no less
than one or five Regulation M Business Days, as applicable, before it or any of the subsidiaries or any person acting on their behalf,
directly or indirectly, offers to sell, contracts to sell, sells, grants any option to sell or otherwise disposes of any Common Stock
(other than Placement Shares offered pursuant to the provisions of this Agreement) or securities convertible into or exchangeable for
Common Stock, warrants or any rights to purchase or acquire Common Stock; provided, that no such restriction shall apply in connection
with (1) the issuance, grant or sale of Common Stock, options to purchase Common Stock or Common Stock issuable upon the exercise
of options or other equity awards pursuant to any stock option, stock bonus or other stock or compensatory plan or arrangement described
in the Prospectus (the “Equity Plans”), (2) the issuance or sale of Common Stock pursuant to any dividend reinvestment
plan that the Company may adopt from time to time, provided the implementation of such is disclosed to the Agents in advance, or (3) the
redemption of OP Units pursuant to the terms of the Agreement of Limited Partnership, dated February 12, 2015, of the Operating Partnership;
(ii) the Company shall not, and shall cause any affiliated purchasers (as defined in Rule 100 of Regulation M) of the Company
to not, bid for, purchase or induce any other persons to bid for or purchase Shares; and (iii) the Company shall provide the Agents
notice no less than one or five Regulation M Business Days, as applicable, before it or any of the subsidiaries or affiliates or any person
acting on their behalf engages in any special selling efforts or selling methods with regard to Shares, including but not limited to presenting
at any investor conference or other similar meeting where potential investors may be present.

 

(s)  The Company will use its best efforts to
meet the requirements for qualification and taxation as a REIT under the Code for its taxable year ending December 31, 2019 and for
each subsequent year thereafter, unless and until the Board determines in good faith that it is no longer in the best interests of the
Company and its stockholders to be so qualified.

 

(t)  Until completion of the distribution of
the Shares, the Company will file all documents required to be filed with the Commission pursuant to the 1934 Act within the time periods
required by the 1934 Act and the rules and regulations of the Commission thereunder.

 

7. The Company covenants and agrees with the Agents
that the Company will pay or cause to be paid the following: (i) the fees, disbursements and expenses of the Company’s counsel
and accountants in connection with the registration of the Shares under the 1933 Act and all other expenses in connection with the preparation,
printing and filing of the Registration Statement, any Permitted Free Writing Prospectus and the Prospectus and amendments and supplements
thereto and the mailing and delivering of copies thereof to the Agents; (ii) the cost of printing or producing this Agreement, any
Blue Sky memorandum, closing documents (including any compilations thereof) and any other documents in connection with the offering, purchase,
sale and delivery of the Shares; (iii) all expenses in connection with the qualification of the Shares for offering and sale under
state securities laws as provided in Section 6(d) hereof, including the fees and disbursements of counsel for the Agents in
connection with such qualification and in connection with any Blue Sky memorandum (iv) all fees and expenses in connection with listing
the Shares on the NYSE; (v) the filing fees incident to, and the fees and disbursements of counsel for the Agents in connection with,
securing any required review by FINRA of the terms of the sale of the Shares; (vi) the cost of preparing stock certificates, if applicable;
(vii) the cost and charges of any transfer agent or registrar in connection with the issuance of the Shares; and (viii) all
other costs and expenses incident to the performance of its obligations hereunder which are not otherwise specifically provided for in
this Section.

 

    16 

     

    

 

8. The obligations of the Agents hereunder shall
be subject, in their sole discretion, to the condition that all representations and warranties and other statements of the Company herein
or in certificates of any officer of the Company delivered pursuant to the provisions hereof are true and correct as of the time of the
execution of this Agreement, and as of each Representation Date, Applicable Time and Delivery Date, to the condition that the Company
shall have performed all of their obligations hereunder theretofore to be performed, and the following additional conditions:

 

(a)  The Prospectus shall have been filed with
the Commission pursuant to Rule 424(b) under the 1933 Act on or prior to the date hereof and the Company shall have complied
with all other requirements applicable to the Prospectus or any supplement thereto under Rule 424(b) (without giving effect
to Rule 424(b)(8)). The Company shall have complied with all filing requirements applicable to any Issuer Limited-Use Free Writing
Prospectus used or referred to after the date hereof. No stop order suspending the effectiveness of the Registration Statement or preventing
or suspending the use of the Prospectus or any Issuer Limited-Use Free Writing Prospectus shall have been issued and no proceeding or
examination for such purpose shall have been initiated or threatened by the Commission, any request of the Commission for inclusion of
additional information in the Registration Statement or the Prospectus (including, without limitation, in any document incorporated by
reference therein) or otherwise shall have been complied with, and the Commission shall not have notified the Company of any objection
to the use of the form of the Registration Statement or any post-effective amendment thereto.

 

(b)  The Agents shall have received a letter
from CT Corporation, or a similar firm, indicating based on available electronic databases the good standing of the Company in its jurisdiction
of organization and its good standing as a foreign entity in such other jurisdictions as the Agents may reasonably request.

 

(c)  Baker, Donelson, Bearman, Caldwell &
Berkowitz, PC, counsel for the Company (or, subject to the sole discretion of the Agents in the case of any written opinion or opinions
required to be delivered after the commencement of the offering of the Shares under this Agreement, the in house legal counsel for the
Company) shall have furnished to you such written opinion or opinions on each date specified in Section 6(o), as the case may be,
in form and substance satisfactory to counsel for the Agents, to the effect set forth in Annex II and Annex III hereto and other related
matters as you may reasonably request, and such counsel shall have received such papers and information as they may reasonably request
to enable them to pass upon such matters.

 

(d)  Morrison & Foerster LLP, counsel
for the Agents, shall have furnished to you their written opinions in such form as you may reasonably request, on each date specified
in Section 6(o).

 

(e)  On each date specified in Section 6(p),
BDO USA, LLP shall have furnished to the Agents a letter or letters, dated the respective dates of delivery thereof, in form and substance
as previously provided to counsel to the Agents.

 

(f)  (i) Neither the Company nor any of
the subsidiaries shall have sustained since the date of the latest audited financial statements included in each of the General Disclosure
Package and the Prospectus any loss or interference with its business from fire, explosion, flood or other calamity, whether or not covered
by insurance, or from any labor dispute or court or governmental action, order or decree, otherwise than as set forth or contemplated
in the General Disclosure Package or Prospectus, and (ii) since the respective dates as of which information is given in each of
the General Disclosure Package and the Prospectus there shall not have been any change in the capital stock or long-term debt of the Company
or any of the subsidiaries or any change, or any development involving a prospective change not set forth or contemplated in the General
Disclosure Package or Prospectus, in or affecting the Properties, the general affairs, management, financial position, stockholders’
equity or results of operations of the Company and the subsidiaries, otherwise than as set forth or contemplated in each of the General
Disclosure Package and the Prospectus, the effect of which, in any such case described in clause (i) or (ii), is in the reasonable
judgment of the Agents so material and adverse as to make it impracticable or inadvisable to proceed with the public offering or the delivery
of the Shares being delivered on the terms and in the manner contemplated in each of the General Disclosure Package and the Prospectus.

 

(g)  On or after the date hereof there shall
not have occurred any of the following: (i) a suspension or material limitation in trading in securities generally on the NYSE; (ii) a
suspension or material limitation in trading in the Company’s securities on the NYSE; (iii) a general moratorium on commercial
banking activities declared by either federal or state authorities; or (iv) the outbreak or escalation of hostilities involving the
United States or the declaration by the United States of a national emergency or war or a material adverse change in general economic,
political or financial conditions, including without limitation as a result of terrorist activities after the date hereof (or the effect
of international conditions on the financial markets in the United States shall be such), or any other calamity or crisis, if the effect
of any such event specified in these clauses (iii) or (iv) in the reasonable judgment of the Agents makes it impracticable or
inadvisable to proceed with the public offering or the delivery of the Shares on the terms and in the manner contemplated in the Prospectus.

 

(h)  To the extent required, the Shares to be
sold shall have been duly listed on the NYSE.

 

    17 

     

    

 

(i)  Within the Prospectus Delivery Period,
the Company shall have complied with the provisions of Section 6(a) hereof with respect to the furnishing of prospectuses on
the business day next succeeding the date of this Agreement.

 

(j)  The Company shall have furnished or caused
to be furnished to you on each Representation Date specified in Section 6(n) certificates of officers of the Company satisfactory
to the Agents as to the accuracy of the representations and warranties of the Company herein at and as of such Representation Date, as
to the performance by the Company of all of its obligations hereunder to be performed at or prior to such Representation Date, and as
to the matters set forth in subsections (a) and (f) and (m) of this Section 8.

 

(k)  Upon commencement of the offering of Shares
under this Agreement and on such other dates as reasonably requested by Agents, the Company will furnish or cause to be furnished promptly
to the Agents a Placement Notice or such other instructions provided pursuant to Section 3(b) as requested by the Agents.

 

(l)  The Company and the Agents hereby agree
that the date of commencement of sales under this Agreement shall be the date the Company and the Agents mutually agree (which may be
later than the date of this Agreement).

 

(m)  Each Subsidiary of the Company which meets
the definition of “significant subsidiary” (as such term is defined in Rule 1-02 of Regulation S-X) has been duly organized
and is validly existing in good standing under the laws of the jurisdiction of its organization, with power and authority (corporate and
other) to own, lease and operate its properties and conduct its business as described in each of the General Disclosure Package and the
Prospectus; each such Significant Subsidiary is duly qualified as a foreign corporation to transact business and is in good standing in
each other jurisdiction in which such qualification is required, whether by reason of the ownership or leasing of property or the conduct
of business, except where the failure to so qualify, or be in good standing would not, individually or in the aggregate, have a Material
Adverse Effect; all of the issued and outstanding capital stock or other equity interest of each such subsidiary has been duly authorized
and validly issued, is fully paid and nonassessable and is owned by the Company, directly or through subsidiaries free and clear of any
security interest, mortgage, pledge, lien, encumbrance or claim; none of the outstanding shares of capital stock or other equity interest
of each such subsidiary were issued in violation of the preemptive or other similar rights of any security holder of such security; and
the Company has all necessary consents and approvals under applicable federal and state laws and regulations to own its assets and carry
on its businesses as currently conducted, except for those consents and approvals that would not have a Material Adverse Effect.

 

9. (a)  The Company shall indemnify and hold
harmless the Agents, their respective affiliates, directors and officers and each person, if any, who controls the respective Agents within
the meaning of Section 15 of the 1933 Act or Section 20 of the 1934 Act against any losses, claims, damages or liabilities,
joint or several, to which they or any of them may become subject, under the 1933 Act or otherwise, insofar as such losses, claims, damages
or liabilities (or actions in respect thereof) arise out of or are based upon an untrue statement or alleged untrue statement of a material
fact contained in the Registration Statement, the General Disclosure Package, the Prospectus or any individual Issuer Limited-Use Free
Writing Prospectus, when considered together with the General Disclosure Package, or any amendment or supplement thereto, or arise out
of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make
the statements therein not misleading, and will reimburse each such indemnified party for any legal or other expenses reasonably incurred
by them in connection with investigating or defending any such action or claim as such expenses are incurred; provided, however, that
the Company shall not be liable in any such case to the extent that any such loss, claim, damage or liability arises out of or is based
upon an untrue statement or alleged untrue statement or omission or alleged omission made in the Registration Statement, the General Disclosure
Package, the Prospectus or any individual Issuer Limited-Use Free Writing Prospectus, when considered together with the General Disclosure
Package, or any such amendment or supplement, in reliance upon and in conformity with written information furnished to the Company by
the Agents expressly for use therein (provided that the Company and the Agents hereby acknowledge and agree that the only information
that the Agents have furnished to the Company specifically for inclusion in the Registration Statement, the General Disclosure Package,
the Prospectus or any individual Issuer Limited-Use Free Writing Prospectus, when considered together with the General Disclosure Package,
or any amendment or supplement thereto, are (i) the statements set forth in the last sentence of paragraph 1, the first sentence
of paragraph 3 and the second sentence of paragraph 7 under the “Plan of Distribution” in the Prospectus Supplement and (ii) such
other statements as the Agents may, by notice given to the Company in writing after the date of this Agreement, have been furnished to
the Company by the Agents specifically for inclusion in the Registration Statement, the Prospectus, the General Disclosure Package, any
Issuer Limited-Use Free Writing Prospectus or any amendment or supplement thereto (collectively, the “Agent Information”).

 

    18 

     

    

 

(b)  The Agents, severally and not jointly,
shall indemnify and hold harmless the Company, their respective affiliates, directors and officers who signed the Registration Statement
and each person, if any, who controls the Company within the meaning of Section 15 of the 1933 Act and Section 20 of the 1934
Act, against any losses, claims, damages or liabilities to which the Company may become subject, under the 1933 Act or otherwise, insofar
as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon an untrue statement or alleged
untrue statement of a material fact contained in the Registration Statement, the General Disclosure Package, the Prospectus, or any individual
Issuer Limited-Use Free Writing Prospectus, when considered together with the General Disclosure Package, or any amendment or supplement
thereto, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein
or necessary to make the statements therein not misleading, in each case to the extent, but only to the extent, that such untrue statement
or alleged untrue statement or omission or alleged omission was made in the Registration Statement, the General Disclosure Package, the
Prospectus or any individual Issuer Limited-Use Free Writing Prospectus, when considered together with the General Disclosure Package,
or any such amendment or supplement, in reliance upon and in conformity with written information furnished to the Company by the Agents
expressly for use therein, provided that the Company and the Agents hereby acknowledge and agree that the only information that the Agents
have furnished to the Company specifically for inclusion in the Registration Statement, the General Disclosure Package, the Prospectus
or any individual Issuer Limited-Use Free Writing Prospectus, when considered together with the General Disclosure Package, or any amendment
or supplement thereto, is the Agent Information; and will reimburse the Company for any legal or other expenses reasonably incurred by
the Company in connection with investigating or defending any such action or claim as such expenses are incurred.

 

(c)  Promptly after receipt by an indemnified
party under subsection (a) or (b) above of notice of the commencement of any action, such indemnified party shall, if a claim
in respect thereof is to be made against the indemnifying party under such subsection, notify the indemnifying party in writing of the
commencement thereof; but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to
any indemnified party otherwise than under such subsection. In case any such action shall be brought against any indemnified party and
it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate therein and,
to the extent that it shall wish, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with counsel
satisfactory to such indemnified party (who shall not, except with the consent of the indemnified party, be counsel to the indemnifying
party), and, after notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof, the
indemnifying party shall not be liable to such indemnified party under such subsection for any legal expenses of other counsel or any
other expenses, in each case subsequently incurred by such indemnified party, in connection with the defense thereof other than reasonable
costs of investigation. No indemnifying party shall, without the written consent of the indemnified party, effect the settlement or compromise
of, or consent to the entry of any judgment with respect to, any pending or threatened action or claim in respect of which indemnification
or contribution may be sought hereunder (whether or not the indemnified party is an actual or potential party to such action or claim)
unless such settlement, compromise or judgment (i) includes an unconditional release of the indemnified party from all liability
arising out of such action or claim and (ii) does not include a statement as to or an admission of fault, culpability or a failure
to act, by or on behalf of any indemnified party.

 

(d)  If the indemnification provided for in
this Section 9 is unavailable to or insufficient to hold harmless an indemnified party under subsection (a) or (b) above
in respect of any losses, claims, damages or liabilities (or actions in respect thereof) referred to therein, then each indemnifying party
shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (or
actions in respect thereof) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand
and the Agents on the other from the offering of the Shares. If, however, the allocation provided by the immediately preceding sentence
is not permitted by applicable law or if the indemnified party failed to give the notice required under subsection (c) above, then
each indemnifying party shall contribute to such amount paid or payable by such indemnified party in such proportion as is appropriate
to reflect not only such relative benefits but also the relative fault of the Company on the one hand and the Agents on the other in connection
with the statements or omissions which resulted in such losses, claims, damages or liabilities (or actions in respect thereof), as well
as any other relevant equitable considerations. The relative benefits received by the Company on the one hand and the Agents on the other
shall be deemed to be in the same proportion as the total net proceeds from the offering (before deducting expenses) received by the Company
bear to the total commissions received by the Agents. The relative fault shall be determined by reference to, among other things, whether
the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information
supplied by the Company on the one hand or the Agents on the other and the parties’ relative intent, knowledge, access to information
and opportunity to correct or prevent such statement or omission. The Company and the Agents agree that it would not be just and equitable
if contributions pursuant to this subsection (d) were determined by pro rata allocation or by any other method of allocation which
does not take account of the equitable considerations referred to above in this subsection (d). The amount paid or payable by an indemnified
party as a result of the losses, claims, damages or liabilities (or actions in respect thereof) referred to above in this subsection (d) shall
be deemed to include any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending
any such action or claim. Notwithstanding the provisions of this subsection (d), the Agents shall not be required to contribute any amount
in excess of the amount by which the total price at which the Shares distributed to the public were offered to the public exceeds the
amount of any damages which the Agents have otherwise been required to pay by reason of such untrue or alleged untrue statement or omission
or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the 1933 Act),
as determined by a final, non-appealable order by a court of competent jurisdiction, shall be entitled to contribution from any person
who was not guilty of such fraudulent misrepresentations, as determined by a final, non-appealable order by a court of competent jurisdiction.

 

(e)  The remedies provided in this Section 9
are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity.

 

(f)  For purposes of clarity and without limitation
to any provision of this Agreement, the obligations of the Agents under this Agreement are several and not joint.

 

    19 

     

    

 

10. Termination.

 

(a)  The Company shall have the right, by giving
written notice as hereinafter specified, to terminate either this Agreement in its entirety or any Agent from providing services hereunder
in its sole discretion at any time. Any such termination shall be without liability of any party to any other party except that (i) with
respect to any pending sale through any Agent for the Company, the obligations of the Company, including in respect of compensation of
such Agent, shall remain in full force and effect notwithstanding such termination and (ii) the representations and warranties in
Section 2 and the provisions of Sections 7, 9, 13, 14, 15, 16 and 17 of this Agreement shall remain in full force and effect notwithstanding
such termination, as applicable.

 

(b)  The Agents shall have the right, in their
sole discretion, or any one of them in its sole discretion as to itself, by giving written notice as hereinafter specified, to terminate
this Agreement at any time. Any such termination shall be without liability of any party to any other party except that the representations
and warranties in Section 2 and the provisions of Sections 7, 9, 13, 14, 15, 16 and 17 of this Agreement shall remain in full force
and effect notwithstanding such termination.

 

(c)  This Agreement shall remain in full force
and effect with respect to a party unless terminated by or with respect to such party pursuant to Section 10(a) or (b) above,
as applicable, or otherwise by mutual agreement of the parties; provided, that any such termination by mutual agreement or pursuant to
this clause (c) shall in all cases be deemed to provide that the representations and warranties in Section 2 and the provisions
of Sections 7, 9, 13, 14, 15, 16 and 17 of this Agreement shall remain in full force and effect notwithstanding such termination.

 

(d)  Any termination of this Agreement shall
be effective on the date specified in such notice of termination or the date mutually agreed by the parties, as the case may be; provided,
that such termination shall not be effective until the close of business on the date of receipt of such notice by the applicable Agents
or the Company, or the date mutually agreed by the parties, as the case may be. If such termination shall occur prior to the Delivery
Date for any sale of Stock, such sale shall settle in accordance with the provisions of Section 3(i) hereof.

 

(e)  Unless terminated earlier pursuant to this
Section 10, this Agreement shall terminate automatically upon the issuance and sales of Shares through the Agents that collectively
equal the Maximum Amount.

 

11. The respective indemnities, agreements, representations,
warranties and other statements of the Company and the Agents, as set forth in this Agreement or made by or on behalf of them, respectively,
pursuant to this Agreement, shall remain in full force and effect, regardless of any investigation (or any statement as to the results
thereof) made by or on behalf of the Agents or any controlling person of the Agents, or the Company, or any officer or director or controlling
person of the Company, and shall survive delivery of and payment for the Shares.

 

12. If this Agreement is terminated with respect
to all parties, the Company shall not then be under any liability to the Agents except as provided in Section 9 hereof, which provisions
shall survive termination.

 

13. The Company acknowledges and agrees that:

 

(a)  in connection with the sale of the Shares,
the Agents have been retained solely to act as sales agents, and no fiduciary, advisory or other agency relationship between the Company
and the Agents has been created in respect of any of the transactions contemplated by this Agreement;

 

(b)  it has been advised that the Agents and
their respective affiliates are engaged in a broad range of transactions which may involve interests that differ from those of the Company
and that the Agents have no obligation to disclose such interests and transactions to the Company by virtue of any fiduciary, advisory
or agency relationship;

 

(c)  it waives, to the fullest extent permitted
by law, any claims it may have against the Agents for breach of fiduciary duty or alleged breach of fiduciary duty and agrees that the
Agents shall have no liability (whether direct or indirect) to the Company in respect of such a fiduciary duty claim or to any person
asserting a fiduciary duty claim on behalf of or in right of the Company, including stockholders, employees or creditors of the Company; 

 

(d) none of the activities of the Agents in
connection with the transactions contemplated by this Agreement constitutes a recommendation, investment advice, or solicitation of any
action by the Agents with respect to any entity or natural person; and

 

(e) the Company's engagement of each Agent in connection with the transactions contemplated by this Agreement and the process leading
up to the transactions contemplated by this Agreement is as an independent contractor and not in any other capacity.

 

    20 

     

    

 

14.Notices.

 

Except
as otherwise provided herein, all statements, requests, notices and agreements hereunder shall be in writing, and shall be deemed to have
been duly given if mailed or transmitted by any standard form of telecommunication. Notices to the Agents shall be directed as follows:
if to Piper Sandler & Co., 1251 Avenue of the Americas, 6th Floor, New York, NY 10020, Attention: General Counsel; if to Evercore
Group L.L.C., 55 East 52nd Street, 36th Floor, New York, NY 10055; if to Truist Securities, Inc., 3333 Peachtree Road NE, 11th Floor,
Atlanta, GA 30326, Attention: Equity Capital Markets; if to Regions Securities, LLC, 615 S. College Street, Suite 600, Charlotte,
NC 28202, Attention: Brit Stephens and Ed Armstrong; if to Fifth Third Securities, Inc., 424 Church Street, Maildrop: UTFC6B, Nashville,
TN 37219, Attention: Equity Capital Markets; if to Janney Montgomery Scott LLC, 1717 Arch Street, 22nd Floor, Philadelphia, PA 19103; if to Robert W. Baird & Co.
Incorporated, 777 E. Wisconsin Avenue, Milwaukee, Wisconsin 53202, Attention: Syndicate Department (facsimile: (414)-298-7474), with a
copy to the Legal Department; and with respect to each notice to any Agent a copy (for informational purposes only) to Morrison &
Foerster LLP, 2100 L Street, NW Suite 900, Washington, D.C. 20037, Attention: Justin R. Salon, Esq.; and if to the Company shall
be delivered or sent by mail to Community Healthcare Trust Incorporated, 3326 Aspen Grove Drive, Suite 150, Franklin, Tennessee 37067,
Attention: Timothy G. Wallace, with a copy (for informational purposes only) to Baker, Donelson, Bearman, Caldwell & Berkowitz,
PC, 211 Commerce Street, Suite 800, Nashville, Tennessee 37201, Attention: Tonya Mitchem Grindon. Any such statements, requests,
notices or agreements shall take effect upon receipt thereof. This Agreement shall be binding upon, and inure solely to the benefit
of, the Agents, the Company and, to the extent provided in Sections 9 and 11 hereof, the officers and directors of the Company and each
person who controls the Company or the Agents, and their respective heirs, executors, administrators, successors and assigns, and no other
person shall acquire or have any right under or by virtue of this Agreement. No purchaser of any of the Shares shall be deemed a successor
or assign by reason merely of such purchase.

 

15. Time shall be of the essence of this Agreement.
As used herein, the term “business day” shall mean any day when the Commission’s office in Washington, D.C.,
is open for business.

 

16. This Agreement shall be governed by and construed
in accordance with the laws of the State of New York.

 

17. This Agreement may be executed by any one or
more of the parties hereto in any number of counterparts, each of which shall be deemed to be an original, but all such counterparts shall
together constitute one and the same instrument, and shall become effective when counterparts have been signed by each party and delivered
to the other party; provided that a facsimile signature or signature delivered by e-mail in a “.pdf” format data
file, including any electronic signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com, www.echosign.adobe.com, etc.,
shall be considered due execution and shall be binding upon the signatory thereto with the same force and effect as if the signature were
an original signature.

 

18.
Recognition of the U.S. Special Resolution Regimes.

 

(a) In the event that any Agent that is a Covered
Entity becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer from such Agent of this Agreement, and any
interest and obligation in or under this Agreement, will be effective to the same extent as the transfer would be effective under the
U.S. Special Resolution Regime if this Agreement, and any such interest and obligation, were governed by the laws of the United States
or a state of the United States. In the event that any Agent that is a Covered Entity or a BHC Act Affiliate of such Agent becomes subject
to a proceeding under a U.S. Special Resolution Regime, Default Rights under this Agreement that may be exercised against such Agent are
permitted to be exercised to no greater extent than such Default Rights could be exercised under the U.S. Special Resolution Regime if
this Agreement were governed by the laws of the United States or a state of the United States.

 

(b) For purposes of this Section 18: (A) a
 “BHC Act Affiliate” has the meaning assigned to the term “affiliate” in, and shall be interpreted in accordance
with, 12 U.S.C. § 1841(k); (B) “Covered Entity” means any of the following: (i) a “covered entity”
as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 252.82(b); (ii) a “covered bank” as
that term is defined in, and interpreted in accordance with, 12 C.F.R. § 47.3(b); or (iii) a “covered FSI” as that
term is defined in, and interpreted in accordance with, 12 C.F.R. § 382.2(b); (C) “Default Right” has the meaning
assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable; and
(D) “U.S. Special Resolution Regime” means each of (i) the Federal Deposit Insurance Act and the regulations promulgated
thereunder and (ii) Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the regulations promulgated thereunder.

 

    21 

     

    

 

	 	Very truly yours,
	 	 
	 	COMMUNITY HEALTHCARE TRUST INCORPORATED
	 	 
	 	By:	/s/
    Timothy G. Wallace
	 	Name:	Timothy G. Wallace
	 	Title:	Chief Executive Officer and President

 

	Accepted as of the date hereof:	 
	 	 
	PIPER SANDLER & CO.	 
	 	 
	By:	/s/ Robert Kleinert              	 
	Name:	Robert Kleinert	 
	Title:	Managing Director	 

 

Signature Page to the
Sales Agency Agreement

 

    22 

     

    

 

	EVERCORE GROUP L.L.C.	 
	 	 
	By:	/s/ Jay Chandler                     	 
	Name:	Jay Chandler	 
	Title:	Senior Managing Director	 
	 	 	 
	TRUIST SECURITIES, INC.	 
	 	 
	By:	/s/ Geoffrey Fennel	 
	Name:	Geoffrey Fennel	 
	Title:	Director	 
	 	 	 
	REGIONS SECURITIES LLC	 
	 	 
	By:	/s/ Edward L. Armstrong	 
	Name:	Edward L. Armstrong	 
	Title:	Managing Director - ECM	 
	 	 	 
	FIFTH THIRD SECURITIES, INC.	 
	 	 
	By:	/s/ Susannah Doyle Lunke 	 
	Name:	Susannah Doyle Lunke	 
	Title:	Managing Director, ECM, SVP	 
	 	 	 
	JANNEY MONTGOMERY SCOTT LLC	 
	 	 
	By:	/s/ David Lau	 
	Name:	David Lau	 
	Title:	Head of Equities	 
	 	 	 
	ROBERT W. BAIRD & CO. INCORPORATED	 
	 	 	 
	By:	/s/ Christopher Walter	 
	Name:	Christopher Walter	 
	Title:	Managing Director	 

 

Signature Page to the Sales Agency Agreement

 

    23 

     

    

  

Schedule 2(i)(i)

 

Significant Subsidiaries

 

The following are the only subsidiaries of the
Company that meet the definition of “significant subsidiary” (as such term is defined in Rule 1-02 of Regulation S-X):

 

● The Operating Partnership

 

●
CHCT Illinois, LLC

 

●
CHCT Ohio, LLC

 

●
CHCT Texas, LLC

 

    24 

     

    

 

Schedule 2(i)(ii)

 

	Community Healthcare OP, LP	Delaware
	Community Healthcare Trust, LLC	Delaware
	Community Healthcare Trust Services, Inc.	Tennessee
	CHCT Holdings, Inc.	Delaware
	CHCT Alabama, LLC	Delaware
	CHCT Arizona, LLC	Delaware
	CHCT Arkansas, LLC	Delaware
	CHCT California, LLC	Delaware
	CHCT Colorado, LLC	Delaware
	CHCT Connecticut, LLC	Delaware
	CHCT Connecticut II, LLC	Delaware
	CHCT Florida, LLC	Delaware
	CHCT Georgia, LLC	Delaware
	CHCT Idaho, LLC	Delaware
	CHCT Illinois, LLC	Delaware
	CHCT Indiana, LLC	Delaware
	CHCT Iowa, LLC	Delaware
	CHCT Kansas, LLC	Delaware
	CHCT Kentucky, LLC	Delaware
	CHCT Lending, LLC	Delaware
	CHCT Louisiana, LLC	Delaware
	CHCT Maryland, LLC	Delaware
	CHCT Massachusetts, LLC	Delaware
	CHCT Michigan, LLC	Delaware
	CHCT Mississippi, LLC	Delaware
	CHCT Nebraska, LLC	Delaware
	CHCT Nevada, LLC	Delaware
	CHCT New Jersey, LLC	Delaware
	CHCT New York, LLC	Delaware
	CHCT North Carolina, LLC	Delaware
	CHCT Ohio, LLC	Delaware
	CHCT Oklahoma, LLC	Delaware
	CHCT Pennsylvania, LLC	Delaware
	CHCT Rhode Island, LLC	Delaware
	CHCT South Carolina, LLC	Delaware
	CHCT Tennessee, LLC	Delaware
	CHCT Texas, LLC	Delaware
	CHCT Virginia, LLC	Delaware
	CHCT Washington, LLC	Delaware
	CHCT West Virginia, LLC	Delaware
	CHCT Wisconsin, LLC	Delaware

 

    25formmake-wholersu

ONEOK, INC. EQUITY INCENTIVE PLAN  RESTRICTED UNIT AWARD AGREEMENT  This Restricted Unit Award Agreement (the “Agreement”) is entered into as of the ___  day of ________, ___ by and between ONEOK, Inc. (the “Company”) and     (the “Grantee”), an employee of the Company or a Subsidiary thereof, pursuant to the terms of the  ONEOK, Inc. Equity Incentive Plan (the “Plan”).  1. Restricted Unit Award.  This Agreement and the Notice of Restricted Unit Award and Agreement dated __________ (the “Grant Date”), a copy of which is  attached hereto and incorporated herein by reference, establishes the terms and  conditions for the Company’s grant of an Award of   Restricted Units (the “Award”):              __________  to the Grantee pursuant to the Plan. This Agreement, when executed by the Grantee, constitutes  an agreement between the Company and the Grantee.  Capitalized terms not defined in this  Agreement shall have the meaning ascribed to them in the Plan.    2. Restricted Period; Vesting.  The Restricted Units granted pursuant to the Award will vest in accordance with the following terms and conditions:  (a) Except as otherwise provided in this Agreement or the Plan, the Grantee shall vest in the Restricted Units granted by this Award (including any Dividend Equivalents, as described  below) with respect to each installment on the date specified as shown in the following schedule:  Installment Vesting Date  50% of the Award: ________________  Remaining 50% of the Award: ________________  Prior to the vesting date for the applicable installment, the Granee’s rights with respect to  the Restricted Units shall be restricted (the “Restricted Period”). Upon vesting, the Grantee shall  become entitled to receive _______ of the Company’s common stock (“Common Stock”) for each  such Restricted Unit vesting.  No fractional shares shall be issued, and any amount  attributable to a fractional share shall instead be withheld to satisfy any withholding tax obligation.  (b) Except as provided for in (c) below, if the Grantee’s employment with the Company terminates prior to the end of the applicable installment’s Restricted Period by reason of (i)  {00166365 - 1 }   _____________ Exhibit 10.1 

 

voluntary termination for any reason or (ii) involuntary Termination for Cause, the Grantee shall  forfeit all right, title and interest in the unvested Restricted Units and any Common Stock otherwise  payable pursuant to this Agreement.  For purposes of this Agreement, employment with any  Subsidiary of the Company shall be treated as employment with the Company.  Likewise, a  termination of employment shall not be deemed to occur by reason of a transfer of employment  between the Company and any Subsidiary.    (c) In the event of termination of the Grantee’s employment with the Company during the Restricted Period by reason of (i) involuntary termination other than a Termination for Cause,  (iii) Disability or (iv) death, then the Grantee shall be partially vested in, and the Grantee shall be entitled to receive, the percentage of the Restricted Units which is determined by dividing the number of full months which have elapsed under the Restricted Period at the time of such event by the number of full months in the Restricted Period. (d) Unless the Committee provides otherwise prior to a Change in Control, in the event of a Change in Control (as defined below), the vesting or forfeiture of the Restricted Units will be  subject to the terms and conditions of Article 11 of the Plan.    (e) For purposes of the Award and this Agreement, the term “voluntary termination” shall mean that the Grantee had an opportunity to continue employment with the Company, but  did not do so.  An “involuntary termination” shall mean that the Company has ended the Grantee’s  employment without the Grantee having an opportunity to continue employment with the  Company. A “Termination for Cause” of the Grantee’s employment shall mean that the Company  has ended such employment by reason of (i) the Grantee’s conviction in a court of law of a felony,  or any crime or offense involving misuse or misappropriation of money or property, (ii) the  Grantee’s violation of any covenant, agreement or obligation not to disclose confidential  information regarding the business of the Company, (iii) any violation by the Grantee of any  covenant not to compete with the Company, (iv) any act of dishonesty by the Grantee which  adversely effects the business of the Company, (v) any willful or intentional act of the Grantee  which adversely affects the business of, or reflects unfavorably on the reputation of the Company,  including any material breach of a Company policy (determined in the discretion of the Company)  (vi) the Grantee’s use of alcohol or drugs which interferes with the Grantee’s duties as an employee of the Company, or (vii) the Grantee’s failure or refusal to perform the specific directives of the Company’s Board of Directors or officers.  “Years of service” for this purpose excludes any service with any predecessor employer that was not considered within the controlled group (determined in accordance with Code section 414(c)) of the Company as of the date of the grant, unless explicitly required by the agreement executed in connection with such asset or stock acquisition, merger or other similar transaction  “Disability” shall have the meaning provided in the Plan.  The term “Change in Control” shall have the meaning provided in the Plan unless the Award is or becomes subject to  Code Section 409A, in which event the term “Change in Control” shall mean a Change in Control as defined in the Plan that also qualifies as a “change in control event” as defined in Treasury Regulations Section 1.409A-3(i)(5). 3. Dividend Equivalents.  During the Restricted Period, before payment or forfeiture of the Award, the Award will be increased by a number of additional Restricted Units (“Dividend  Equivalents”) representing all cash dividends that would have been paid to the Grantee if one share  of Common Stock had been issued to the Grantee on the Grant Date for each Restricted Unit  2 

 

granted pursuant to this Agreement.  The Dividend Equivalents credited during the Restricted  Period will include fractional shares; provided, however, the shares of Common Stock actually  issued upon vesting of the Dividend Equivalents shall be paid only in whole shares of Common  Stock, and any fractional shares of Common Stock in an amount of cash equal to the Fair Market  Value of such fractional shares of Common Stock shall be withheld to satisfy any withholding tax  obligation.  Dividend Equivalents shall be subject to the same vesting provisions and other terms  and conditions of this Agreement, and shall be paid on the same date, as the Restricted Units to  which they are attributable. Moreover, references in this Agreement to Restricted Units shall be  deemed to include any Restricted Units attributable to Dividend Equivalents.   4. Non-Transferability of Restricted Units. (a) The Restricted Units may not be sold, assigned, transferred, pledged, encumbered or otherwise disposed of by Grantee or any other person until the expiration of the Restricted Period.   Any such attempt shall be wholly ineffective and will result in immediate forfeiture of all such  amounts.  (b) Notwithstanding the foregoing, the Grantee may transfer any part or all rights in the Restricted Units to members of the Grantee’s immediate family, to one or more trusts for the  benefit of such immediate family members or to partnerships in which such immediate family  members are the only partners, in each case only if the Grantee does not receive any consideration  for the transfer.  In the event of any such transfer, the Restricted Units shall remain subject to the  terms and conditions of this Agreement.  For any such transfer to be effective, the Grantee must  provide prior written notice thereof to the Committee, unless otherwise authorized and approved  by the Committee, in its sole discretion; and the Grantee shall furnish to the Committee such  information as it may request with respect to the transferee and the terms and conditions of any  such transfer.  For purposes of this Agreement, “immediate family” shall mean the Grantee’s  spouse, children and grandchildren.  (c) The Grantee also may designate a Beneficiary, using the form attached hereto as Exhibit A or such other form as may be approved by the Committee, to receive any rights of the  Grantee which may become vested in the event of the death of the Grantee under procedures and  in the form established by the Committee.  In the absence of such designation of a Beneficiary,  any such rights shall be deemed to be transferred to the estate of the Grantee.  5. Distribution of Common Stock.  Subject to Section 13 of this Agreement, the Common Stock or cash the Grantee becomes entitled to receive upon vesting of any Restricted  Units shall be distributed to the Grantee as soon as practicable after the vesting date for such  Restricted Units, as determined by the Committee in its discretion, but in no event later than 75  days after the vesting date.  The Grantee shall not be permitted, directly or indirectly, to designate  the form of payment or the taxable year in which any payment is to be made.  6. Administration of Award; Ratification of Actions.  The Award shall be subject to such other rules as the Committee, in its sole discretion, may determine to be appropriate with  respect to administration thereof.  This Agreement shall be subject to discretionary interpretation  and construction by the Committee.  Day-to-day authority and responsibility for administration of  the Plan, the Award and this Agreement have been delegated to the Company’s Benefit Plan  3 

 

Administration Committee and its authorized representatives, and all actions taken thereby shall  be entitled to the same deference as if taken by the Committee itself.  The Grantee shall take all  actions and execute and deliver all documents as may from time to time be requested by the  Committee.  By receiving this Award or other benefit under the Plan, Grantee and each person  claiming under or through Grantee shall conclusively be deemed to have indicated acceptance and  ratification of, and consent to, any action taken under the Plan or the Award by the Company, the  Board, the Committee or the Benefit Plan Administration Committee.    7. Tax Liability and Withholding.  The Grantee agrees to pay to the Company any applicable federal, state or local income, employment, social security, Medicare or other  withholding tax obligation arising in connection with the Award to the Grantee, which the  Company shall determine; and the Company shall have the right, without the Grantee’s prior  approval or direction, to satisfy such withholding tax by withholding all or any part of the Common  Stock or cash that would otherwise be distributed or paid to the Grantee, with any shares of  Common Stock so withheld to be valued at the Fair Market Value on the date of such withholding.   The Grantee, with the consent of the Company, may satisfy such withholding tax by transferring  cash or Common Stock to the Company, with any shares of Common Stock so transferred to be  valued at the Fair Market Value on the date of such transfer.  Any payment of required withholding  taxes in the form of Common Stock shall not exceed the maximum amount of tax that may be  required to be withheld by law (or such other amount that would result in an accounting charge  with respect to such shares used to pay such taxes).  Income tax withholding shall occur on the  date of actual distribution.  Notwithstanding the foregoing, the ultimate liability for Grantee’s share  of all tax withholding is the Grantee’s responsibility, and the Company makes no tax-related  representations in connection with the grant or vesting of Restricted Units or the distribution of  Common Stock or cash to Grantee.  8. Adjustment Provisions.  If, prior to the expiration of the Restricted Period, any change is made to the outstanding Common Stock or in the capitalization of the Company, the  Restricted Units granted pursuant to this Award shall be equitably adjusted or terminated to the  extent and in the manner provided under the terms of the Plan.    9. Clawbacks, Insider Trading and Other Company Policies.  The Grantee acknowledges and agrees that this Award is subject to all applicable clawback or recoupment,  insider trading, share ownership and retention and other policies that the Company’s Board of  Directors may adopt from time to time.  Notwithstanding anything in the Plan or this Agreement  to the contrary, all or a portion of the Award made to the Grantee under this Agreement is subject  to being called for repayment to the Company or reduced in any situation where the Board of  Directors or a Committee thereof determines that fraud, negligence, or intentional misconduct by  the Grantee was a contributing factor to the Company having to restate all or a portion of its  financial statement(s). The Committee may determine whether the Company shall effect any such  repayment or reduction: (i) by seeking repayment from the Grantee, (ii) by reducing (subject to  applicable law and the terms and conditions of the Plan or any other applicable plan, program,  policy or arrangement) the amount that would otherwise be awarded or payable to the Grantee  under the Award, the Plan or any other compensatory plan, program, or arrangement maintained  by the Company, (iii) by withholding payment of future increases in compensation (including the  payment of any discretionary bonus amount) or grants of compensatory awards that would  otherwise have been made in accordance with the Company's otherwise applicable compensation  4 

 

practices, or (iv) by any combination of the foregoing. The determination regarding the Grantee’s  conduct, and repayment or reduction under this provision shall be within the sole discretion of the  Committee and shall be final and binding on the Grantee and the Company. The Grantee, in  consideration of the grant of the Award, and by the Grantee's execution of this Agreement,  acknowledges the Grantee's understanding of this provision and hereby agrees to make and allow  an immediate and complete repayment or reduction in accordance with this provision in the event  of a call for repayment or other action by the Company or Committee to effect its terms with  respect to the Grantee, the Award and/or any other compensation described in this Agreement.  10. Stock Reserved.  The Company shall at all times during the term of the Award reserve and keep available such number of shares of its Common Stock as will be sufficient to  satisfy the Award issued and granted to Grantee and the terms stated in this Agreement.  It is  intended by the Company that the Plan and shares of Common Stock covered by the Award are to  be registered under the Securities Act of 1933, as amended, prior to the grant date; provided, that  in the event such registration is for any reason not effective for such shares, the Grantee agrees  that all shares acquired pursuant to the grant will be acquired for investment and will not be  available for sale or tender to any third party.  11. No Rights as Shareholder.  The issuance and transfer of Common Stock shall be subject to compliance by the Company and the Grantee with all applicable laws, rules, regulations  and approvals.  No shares of Common Stock shall be issued or transferred unless and until any  then-applicable legal requirements have been fully met or obtained to the satisfaction of the  Company and its counsel.  Except as otherwise provided in this Agreement, the Grantee shall have  no rights as a shareholder of the Company in respect of the Restricted Units or Common Stock for  which the Award is granted.  The Grantee shall not be considered a record owner of shares of  Common Stock with respect to the Restricted Units until the Common Stock is actually distributed  to Grantee.  12. Continued Employment; Employment at Will.  In consideration of the Company’s granting the Award as incentive compensation to Grantee pursuant to this Agreement, the Grantee  agrees to all of the terms of this Agreement and to continue to perform services for the Company  in a satisfactory manner as directed by the Company.  Provided, however, no provision in this  Agreement shall confer any right to the Grantee’s continued employment, limit the right of the  Company to terminate the Grantee’s employment at any time or create any contractual right to  receive any future awards under the Plan.  Moreover, unless specifically provided under the terms  thereof, the value of the Award will not be included as compensation or earnings when calculating  the Grantee’s benefits under any employee benefit plan sponsored by the Company.  13. Code Section 409A.  This Award and Agreement are intended to comply with Code Section 409A or an exemption therefrom and shall be construed and interpreted in a manner that  is consistent with the requirements for avoiding additional taxes or penalties under Code Section  409A.  Notwithstanding any other provision of the Agreement, any distributions or payments due  hereunder that are subject to Code Section 409A may only be made upon an event and in a manner  permitted by Code Section 409A. “Termination of employment” or words of similar import used  in this Agreement shall mean, with respect to any payments of deferred compensation subject to  Code Section 409A, a “separation from service” as defined in Code Section 409A.  Each payment  of compensation under this Agreement, including installment payments, shall be treated as a  5 

 

separate payment of compensation for purposes of applying Code Section 409A.  Except as  permitted under Code Section 409A, Grantee may not, directly or indirectly, designate the calendar  year of settlement, distribution or payment.  To the extent that an Award is or becomes subject to  Code Section 409A and Grantee is a Specified Employee (within the meaning of Code Section  409A) who becomes entitled to a distribution on account of a separation from service, no payment  shall be made before the date which is six (6) months after the date of the Grantee's separation  from service or, if earlier, the date of Grantee’s death (the “Delayed Payment Date”), if required  by Code Section 409A.  The accumulated amounts shall be distributed or paid in a lump sum  payment on the Delayed Payment Date unless the Delayed Payment Date is the date of the  Grantee’s death, in which event the accumulated amounts shall be paid in a lump sum payment by  December 31 following the year of Grantee’s death.  Notwithstanding the foregoing, the Company  makes no representations that the payments and benefits provided under this Agreement comply  with Code Section 409A and shall not be liable for all or any taxes, penalties, interest or other  expenses that may be incurred by the Grantee on account of non-compliance with Code Section  409A.  14. Entire Agreement; Severability; Conflicts.  This Agreement contains the entire terms of the Award, and may not be changed other than by a written instrument executed by both  parties or an amendment of the Plan, except where such change or modification does not adversely  affect in a material way the terms of this Agreement, as provided in Section 15.4 of the Plan.  This  Agreement supersedes any prior agreements or understandings, and there are no other agreements  or understandings relating to its subject matter.  The invalidity or unenforceability of any provision  of the Plan or this Agreement shall not affect any other provision of the Plan or this Agreement,  and each provision of the Plan and this Agreement shall be severable and enforceable to the extent  permitted by law.  Should there be any inconsistency between the provisions of this Agreement  and the terms of the Award as stated in the resolutions and records of the Board of Directors or the  Plan, the provisions of such resolutions and records of the Board of Directors and the Plan shall  control.  15. Successors and Assigns.  The Award evidenced by this Agreement shall inure to the benefit of and be binding upon the heirs, legatees, legal representatives, successors, and assigns  of the parties hereto.  16. Governing Law; Mandatory Claims Procedures.  This Agreement shall be construed in accordance with, and subject to, the laws of the State of Oklahoma applicable to  contracts made and to be entirely performed in Oklahoma and wholly disregarding any choice of  law provisions or conflict of law principles that might otherwise be contrary to this express intent.  If Grantee or any person acting on Grantee’s behalf (the “Claimant”) has any claim or dispute  related in any way to the Award or to the Plan, the Claimant must follow the claims and arbitration  procedures set forth in Article 13 of the Plan.  All claims must be brought no later than one year  following the date on which the facts forming the basis of the claim are known or should have  been known by the claimant, whichever is earlier.  Any claim that is not submitted within the  applicable time limit shall be waived.    The Grantee hereby acknowledges receipt of this Agreement, the Notice of Restricted Unit  Award and Agreement and a copy of the Plan, and accepts the Award under the terms and  conditions stated in this Agreement, subject to all terms and provisions of the Plan, by signing this  6 

 

Agreement as of the date indicated.  In the absences of a signed acceptance, the Grantee will be  deemed to have accepted this Award on the Grant Date, and all its associated terms and conditions,  including the mandatory claims and arbitration procedures, unless the Grantee notifies the  Company of the Grantee’s non-acceptance of the Award by contacting the stock plan  administrator, in writing within sixty (60) days of the Grant Date.  Date      Janet Hogan        Grantee  7 

 

Exhibit A  Beneficiary Designation Form  I, _________________________________ (“Plan Participant”), state that I am a participant in the ONEOK,  Inc. Equity Incentive Plan,the ONEOK, Inc. Equity Compensation Plan, or any other stock compensation plan  sponsored by ONEOK, Inc. (individually and collectively, the “Plan”), and the holder of one or more Awards granted  to me under the Plan.  With the understanding that I may change the following beneficiary designations at any time  by furnishing written notice thereof to the Committee (provided that such change does not affect the time and form of  payment of any amounts subject to an existing deferral election), I hereby designate the following individuals (or  entities) as my beneficiaries to receive any and all benefits payable to me under the Plan and to exercise all rights,  benefits and features of the Awards described below, in accordance with the terms of the Plan and any associated  award agreement, in the event of my death as follows:  1. Primary Beneficiary (Beneficiaries) The Primary Beneficiaries named below shall have first priority to any and all Awards described below and to exercise all rights, benefits and features of the Awards described below, in accordance with the terms of the Plan  and any associated award agreement, in the event of my death.  Name Relationship SSN     Percentage of Total  If a designated Primary Beneficiary named dies or ceases to exist prior to receiving the share designated for  such Primary Beneficiary, such share shall be transferred proportionately to other surviving and existing designated  Primary Beneficiaries.  2. Contingent Beneficiary (or Beneficiaries) The Contingent Beneficiaries named below, if any, shall receive all Awards described below and  to exercise, enjoy and receive all rights, benefits and features of the Awards described below (including Awards that I have elected  to defer under the Plan or the ONEOK, Inc. 2005 Nonqualified Deferred Compensation Plan, if applicable) in  accordance with the Plan and the terms and provisions of such Awards in the event of my death if no Primary  Beneficiary named above survives me or exists.  Name Relationship SSN     Percentage of Total  8 

 

3. Awards Covered By Beneficiary Designation This Beneficiary Designation is applicable to and covers the following Awards: (Check one) _______ All Awards previously granted to me under the Plan and all Awards to be granted to me  under the Plan in the future; or  _______ The following Awards that have been granted to me under the Plan:  (List Awards Covered)  Award Grant Date     Number of Shares of Stock  4. General Terms This instrument does not modify, extend or increase any rights or benefits otherwise provided for by any Award under the Plan.  All terms used in this instrument shall have the meaning provided for under the Plan, unless  otherwise indicated herein.  This instrument is not applicable to Common Stock of ONEOK, Inc. that I have acquired  outright and without any restrictions or limitations under the Plan prior to my death.  This instrument revokes and  supersedes any prior designation of a Beneficiary (or Beneficiaries) made by me with respect to the Awards covered  by this Beneficiary Designation as set forth in Paragraph 3.    IN WITNESS WHEREOF, I have signed this instrument this     day of ____________, __________.  Plan Participant  __________________________________  Witness  __________________________________  Witness  RECEIVED AND ACKNOWLEDGED this ____ day of ________, 20__,  ______________________________________  For the Committee  9

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