Document:

exv4w4

EXHIBIT 4.4

ARDEA BIOSCIENCES, INC.

and

, AS WARRANT AGENT

FORM OF COMMON STOCK

WARRANT AGREEMENT

 

 

ARDEA BIOSCIENCES, INC.

COMMON STOCK WARRANT AGREEMENT

     COMMON STOCK WARRANT AGREEMENT (this “Agreement”), dated as of                 between ARDEA
BIOSCIENCES, INC., a Delaware corporation (the “Company”) and, a [corporation] [national banking
association] organized and existing under the laws of                and having a corporate trust
office in                , as warrant agent (the “Warrant Agent”).

     WHEREAS, the Company proposes to sell [if Warrants are sold with other securities—[title of
such other securities being offered] (the “Other Securities”) with] warrant certificates evidencing
one or more warrants (the “Warrants” or, individually, a “Warrant”) representing the right to
purchase Common Stock of the Company, par value $0.001 per share (the “Warrant Securities”), such
warrant certificates and other warrant certificates issued pursuant to this Agreement being herein
called the “Warrant Certificates”; and

     WHEREAS, the Company desires the Warrant Agent to act on behalf of the Company, and the
Warrant Agent is willing so to act, in connection with the issuance, registration, transfer,
exchange, exercise and replacement of the Warrant Certificates, and in this Agreement wishes to set
forth, among other things, the form and provisions of the Warrant Certificates and the terms and
conditions on which they may be issued, registered, transferred, exchanged, exercised and replaced.

     NOW THEREFORE, in consideration of the premises and of the mutual agreements herein contained,
the parties hereto agree as follows:

ARTICLE 1

ISSUANCE OF WARRANTS AND EXECUTION AND DELIVERY OF WARRANT CERTIFICATES

     1.1 Issuance Of Warrants. [If Warrants alone—Upon issuance, each Warrant Certificate shall
evidence one or more Warrants.] [If Other Securities and Warrants—Warrant Certificates shall be
[initially] issued in connection with the issuance of the Other Securities [but shall be separately
transferable on and after                (the “Detachable Date”)] [and shall not be separately
transferable] and each Warrant Certificate shall evidence one or more Warrants.] Each Warrant
evidenced thereby shall represent the right, subject to the provisions contained herein and
therein, to purchase one Warrant Security. [If Other Securities and Warrants—Warrant Certificates
shall be initially issued in units with the Other Securities and each Warrant Certificate included
in such a unit shall evidence                Warrants for each [ $                principal amount] [
               shares] of Other Securities included in such unit.]

     1.2 Execution And Delivery Of Warrant Certificates. Each Warrant Certificate, whenever issued,
shall be in registered form substantially in the form set forth in Exhibit A hereto, shall be dated
the date of its countersignature by the Warrant Agent and may have such letters, numbers, or other
marks of identification or designation and such legends or endorsements printed, lithographed or
engraved thereon as the officers of the Company executing the same may approve (execution thereof
to be conclusive evidence of such approval) and as are not inconsistent with the provisions of this
Agreement, or as may be required to comply with any law or with any rule or regulation made
pursuant thereto or with any rule or regulation of any securities exchange on which the Warrants
may be listed, or to conform to usage. The Warrant Certificates shall be signed on behalf of the
Company by any of its present or future chief executive officers, presidents, senior vice
presidents, vice presidents, chief financial officers, chief legal officers, treasurers, assistant
treasurers, controllers, assistant controllers, secretaries or assistant secretaries under its
corporate seal reproduced thereon. Such signatures may be manual or facsimile signatures of such
authorized officers and may be imprinted or otherwise reproduced on the Warrant Certificates. The
seal of the Company may be in the form of a facsimile thereof and may be impressed, affixed,
imprinted or otherwise reproduced on the Warrant Certificates.

     No Warrant Certificate shall be valid for any purpose, and no Warrant evidenced
thereby shall be exercisable, until such Warrant Certificate has been countersigned by the manual
signature of the Warrant Agent. Such signature

 

 

by the Warrant Agent upon any Warrant Certificate executed by the Company shall be conclusive evidence that the Warrant Certificate so countersigned
has been duly issued hereunder.

     In case any officer of the Company who shall have signed any of the Warrant Certificates
either manually or by facsimile signature shall cease to be such officer before the Warrant
Certificates so signed shall have been countersigned and delivered by the Warrant Agent, such
Warrant Certificates may be countersigned and delivered notwithstanding that the person who signed
Warrant Certificates ceased to be such officer of the Company; and any Warrant Certificate may be
signed on behalf of the Company by such persons as, at the actual date of the execution of such
Warrant Certificate, shall be the proper officers of the Company, although at the date of the
execution of this Agreement any such person was not such officer.

     The term “holder” or “holder of a Warrant Certificate” as used herein shall mean any person in
whose name at the time any Warrant Certificate shall be registered upon the books to be maintained
by the Warrant Agent for that purpose [If Other Securities and Warrants are not immediately
detachable—or upon the registration of the Other Securities prior to the Detachable Date. Prior to
the Detachable Date, the Company will, or will cause the registrar of the Other Securities to, make
available at all times to the Warrant Agent such information as to holders of the Other Securities
as may be necessary to keep the Warrant Agent’s records up to date].

     1.3 Issuance Of Warrant Certificates. Warrant Certificates evidencing the right to purchase
Warrant Securities may be executed by the Company and delivered to the Warrant Agent upon the
execution of this Warrant Agreement or from time to time thereafter. The Warrant Agent shall, upon
receipt of Warrant Certificates duly executed on behalf of the Company, countersign such Warrant
Certificates and shall deliver such Warrant Certificates to or upon the order of the Company.

ARTICLE 2

WARRANT PRICE, DURATION AND EXERCISE OF WARRANTS

     2.1 Warrant Price. During the period specified in Section 2.2, each Warrant shall, subject to
the terms of this Warrant Agreement and the applicable Warrant Certificate, entitle the holder
thereof to purchase the number of Warrant Securities specified in the applicable Warrant
Certificate at an exercise price of $  per Warrant Security, subject to adjustment upon the
occurrence of certain events, as hereinafter provided. Such purchase price per Warrant Security is
referred to in this Agreement as the “Warrant Price.”

     2.2 Duration Of Warrants. Each Warrant may be exercised in whole or in part at any time, as
specified herein, on or after [the date thereof] [               ] and at or before [               ]
p.m., [City] time, on                or such later date as the Company may designate by notice to
the Warrant Agent and the holders of Warrant Certificates mailed to their addresses as set forth in
the record books of the Warrant Agent (the “Expiration Date”). Each Warrant not exercised at or
before [               ] p.m., [City] time, on the Expiration Date shall become void, and all rights of
the holder of the Warrant Certificate evidencing such Warrant under this Agreement shall cease.

     2.3 Exercise Of Warrants.

          (a) During the period specified in Section 2.2, the Warrants may be exercised to purchase a
whole number of Warrant Securities in registered form by providing certain information as set forth
on the reverse side of the Warrant Certificate and by paying in full, in lawful money of the United
States of America, [in cash or by certified check or official bank check in New York Clearing House
funds] [by bank wire transfer in immediately available funds] the Warrant Price for each Warrant
Security with respect to which a Warrant is being exercised to the Warrant Agent at its corporate
trust office, provided that such exercise is subject to receipt within five business days of such
payment by the Warrant Agent of the Warrant Certificate with the form of election to purchase
Warrant Securities set forth on the reverse side of the Warrant Certificate properly completed and
duly executed. The date on which payment in full of the Warrant Price is received by the Warrant
Agent shall, subject to receipt of the Warrant Certificate as aforesaid, be deemed to be the date
on which the Warrant is exercised; provided, however, that if, at the date of receipt of such

 

 

Warrant Certificates and payment in full of the Warrant Price, the transfer books for the
Warrant Securities purchasable upon the exercise of such Warrants shall be closed, no such receipt
of such Warrant Certificates and no such payment of such Warrant Price shall be effective to
constitute the person so designated to be named as the holder of record of such Warrant Securities on such date, but shall be effective to constitute such
person as the holder of record of such Warrant Securities for all purposes at the opening of
business on the next succeeding day on which the transfer books for the Warrant Securities
purchasable upon the exercise of such Warrants shall be opened, and the certificates for the
Warrant Securities in respect of which such Warrants are then exercised shall be issuable as of the
date on such next succeeding day on which the transfer books shall next be opened, and until such
date the Company shall be under no duty to deliver any certificate for such Warrant Securities. The
Warrant Agent shall deposit all funds received by it in payment of the Warrant Price in an account
of the Company maintained with it and shall advise the Company by telephone at the end of each day
on which a payment for the exercise of Warrants is received of the amount so deposited to its
account. The Warrant Agent shall promptly confirm such telephone advice to the Company in writing.

          (b) The Warrant Agent shall, from time to time, as promptly as practicable, advise the Company
of (i) the number of Warrant Securities with respect to which Warrants were exercised, (ii) the
instructions of each holder of the Warrant Certificates evidencing such Warrants with respect to
delivery of the Warrant Securities to which such holder is entitled upon such exercise, (iii)
delivery of Warrant Certificates evidencing the balance, if any, of the Warrants for the remaining
Warrant Securities after such exercise, and (iv) such other information as the Company shall
reasonably require.

          (c) As soon as practicable after the exercise of any Warrant, the Company shall issue to or
upon the order of the holder of the Warrant Certificate evidencing such Warrant the Warrant
Securities to which such holder is entitled, in fully registered form, registered in such name or
names as may be directed by such holder. If fewer than all of the Warrants evidenced by such
Warrant Certificate are exercised, the Company shall execute, and an authorized officer of the
Warrant Agent shall manually countersign and deliver, a new Warrant Certificate evidencing Warrants
for the number of Warrant Securities remaining unexercised.

          (d) The Company shall not be required to pay any stamp or other tax or other governmental
charge required to be paid in connection with any transfer involved in the issue of the Warrant
Securities, and in the event that any such transfer is involved, the Company shall not be required
to issue or deliver any Warrant Security until such tax or other charge shall have been paid or it
has been established to the Company’s satisfaction that no such tax or other charge is due.

          (e) Prior to the issuance of any Warrants there shall have been reserved, and the Company
shall at all times through the Expiration Date keep reserved, out of its authorized but unissued
Warrant Securities, a number of shares sufficient to provide for the exercise of the Warrants.

ARTICLE 3

OTHER PROVISIONS RELATING TO RIGHTS OF HOLDERS OF WARRANT CERTIFICATES

     3.1 No Rights As Warrant Securityholder Conferred By Warrants Or Warrant Certificates. No
Warrant Certificate or Warrant evidenced thereby shall entitle the holder thereof to any of the
rights of a holder of Warrant Securities, including, without limitation, the right to receive the
payment of dividends or distributions, if any, on the Warrant Securities or to exercise any voting
rights, except to the extent expressly set forth in this Agreement or the applicable Warrant
Certificate.

     3.2 Lost, Stolen, Mutilated Or Destroyed Warrant Certificates. Upon receipt by the Warrant
Agent of evidence reasonably satisfactory to it and the Company of the ownership of and the loss,
theft, destruction or mutilation of any Warrant Certificate and/or indemnity reasonably
satisfactory to the Warrant Agent and the Company and, in the case of mutilation, upon surrender of
the mutilated Warrant Certificate to the Warrant Agent for cancellation, then, in the absence of
notice to the Company or the Warrant Agent that such Warrant Certificate has been acquired by a
bona fide purchaser, the Company shall execute, and an authorized officer of the Warrant Agent
shall manually countersign and deliver, in exchange for or in lieu of the lost, stolen, destroyed
or mutilated Warrant Certificate, a new Warrant Certificate of the same tenor and evidencing
Warrants for a like number of

 

 

Warrant Securities. Upon the issuance of any new Warrant Certificate
under this Section 3.2, the Company may require the payment of a sum sufficient to cover any tax or
other governmental charge that may be imposed in relation thereto and any other expenses (including
the fees and expenses of the Warrant Agent) in connection therewith. Every substitute Warrant Certificate executed and delivered pursuant to this Section 3.2
in lieu of any lost, stolen or destroyed Warrant Certificate shall represent an additional
contractual obligation of the Company, whether or not the lost, stolen or destroyed Warrant
Certificate shall be at any time enforceable by anyone, and shall be entitled to the benefits of
this Agreement equally and proportionately with any and all other Warrant Certificates duly
executed and delivered hereunder. The provisions of this Section 3.2 are exclusive and shall
preclude (to the extent lawful) all other rights and remedies with respect to the replacement of
mutilated, lost, stolen or destroyed Warrant Certificates.

     3.3 Holder Of Warrant Certificate May Enforce Rights. Notwithstanding any of the provisions of
this Agreement, any holder of a Warrant Certificate, without the consent of the Warrant Agent, the
holder of any Warrant Securities or the holder of any other Warrant Certificate, may, in such
holder’s own behalf and for such holder’s own benefit, enforce, and may institute and maintain any
suit, action or proceeding against the Company suitable to enforce, or otherwise in respect of,
such holder’s right to exercise the Warrants evidenced by such holder’s Warrant Certificate in the
manner provided in such holder’s Warrant Certificate and in this Agreement.

     3.4 Adjustments.

          (a) In case the Company shall at any time subdivide its outstanding shares of Common Stock
into a greater number of shares, the Warrant Price in effect immediately prior to such subdivision
shall be proportionately reduced and the number of Warrant Securities purchasable under the
Warrants shall be proportionately increased. Conversely, in case the outstanding shares of Common
Stock of the Company shall be combined into a smaller number of shares, the Warrant Price in effect
immediately prior to such combination shall be proportionately increased and the number of Warrant
Securities purchasable under the Warrants shall be proportionately decreased.

          (b) If at any time or from time to time the holders of Common Stock (or any shares of stock or
other securities at the time receivable upon the exercise of the Warrants) shall have received or
become entitled to receive, without payment therefore,

               (i) Common Stock or any shares of stock or other securities which are at any time directly or
indirectly convertible into or exchangeable for Common Stock, or any rights or options to subscribe
for, purchase or otherwise acquire any of the foregoing by way of dividend or other distribution;

               (ii) any cash paid or payable otherwise than as a cash dividend paid or payable out of the
Company’s current or retained earnings;

               (iii) any evidence of the Company’s indebtedness or rights to subscribe for or purchase the
Company’s indebtedness; or

               (iv) Common Stock or additional stock or other securities or property (including cash) by way
of spinoff, split-up, reclassification, combination of shares or similar corporate rearrangement
(other than shares of Common Stock issued as a stock split or adjustments in respect of which shall
be covered by the terms of Section 3.4(a) above), then and in each such case, the holder of each
Warrant shall, upon the exercise of the Warrant, be entitled to receive, in addition to the number
of Warrant Securities receivable thereupon, and without payment of any additional consideration
therefore, the amount of stock and other securities and property (including cash and indebtedness
or rights to subscribe for or purchase indebtedness) which such holder would hold on the date of
such exercise had he been the holder of record of such Warrant Securities as of the date on which
holders of Common Stock received or became entitled to receive such shares or all other additional
stock and other securities and property.

          (c) In case of (i) any reclassification, capital reorganization, or change in the Common Stock
of the Company (other than as a result of a subdivision, combination, or stock dividend provided
for in Section 3.4(a) or Section 3.4(b) above), (ii) share exchange, merger or similar transaction
of the Company with or into another person or entity (other than a share exchange, merger or
similar transaction in which the Company is the acquiring or

 

 

surviving corporation and which does not result in any change in the Common Stock other than the issuance of additional shares of Common
Stock) or (iii) the sale, exchange, lease, transfer or other disposition of all or substantially
all of the properties and assets of the Company as an entirety (in any such case, a “Reorganization
Event”), then, as a condition of such Reorganization Event, lawful provisions shall be made, and
duly executed documents evidencing the same from the Company or its successor shall be delivered to
the holders of the Warrants, so that the holders of the Warrants shall have the right at any time
prior to the expiration of the Warrants to purchase, at a total price equal to that payable upon
the exercise of the Warrants, the kind and amount of shares of stock and other securities and
property receivable in connection with such Reorganization Event by a holder of the same number of
Warrant Securities as were purchasable by the holders of the Warrants immediately prior to such
Reorganization Event. In any such case appropriate provisions shall be made with respect to the
rights and interests of the holders of the Warrants so that the provisions hereof shall thereafter
be applicable with respect to any shares of stock or other securities and property deliverable upon
exercise the Warrants, and appropriate adjustments shall be made to the Warrant Price payable
hereunder provided the aggregate purchase price shall remain the same. In the case of any
transaction described in clauses (ii) and (iii) above, the Company shall thereupon be relieved of
any further obligation hereunder or under the Warrants, and the Company as the predecessor
corporation may thereupon or at any time thereafter be dissolved, wound up or liquidated. Such
successor or assuming entity thereupon may cause to be signed, and may issue either in its own name
or in the name of the Company, any or all of the Warrants issuable hereunder which heretofore shall
not have been signed by the Company, and may execute and deliver securities in its own name, in
fulfillment of its obligations to deliver Warrant Securities upon exercise of the Warrants. All the
Warrants so issued shall in all respects have the same legal rank and benefit under this Agreement
as the Warrants theretofore or thereafter issued in accordance with the terms of this Agreement as
though all of such Warrants had been issued at the date of the execution hereof. In any case of any
such Reorganization Event, such changes in phraseology and form (but not in substance) may be made
in the Warrants thereafter to be issued as may be appropriate.

     The Warrant Agent may receive a written opinion of legal counsel as conclusive evidence that
any such Reorganization Event complies with the provisions of this Section 3.4.

          (d) The Company may, at its option, at any time until the Expiration Date, reduce the then
current Warrant Price to any amount deemed appropriate by the Board of Directors of the Company for
any period not exceeding twenty consecutive days (as evidenced in a resolution adopted by such
Board of Directors), but only upon giving the notices required by Section 3.5 at least ten days
prior to taking such action.

          (e) Except as herein otherwise expressly provided, no adjustment in the Warrant Price shall be
made by reason of the issuance of shares of Common Stock, or securities convertible into or
exchangeable for shares of Common Stock, or securities carrying the right to purchase any of the
foregoing or for any other reason whatsoever.

          (f) No fractional Warrant Securities shall be issued upon the exercise of Warrants. If more
than one Warrant shall be exercised at one time by the same holder, the number of full Warrant
Securities which shall be issuable upon such exercise shall be computed on the basis of the
aggregate number of Warrant Securities purchased pursuant to the Warrants so exercised. Instead of
any fractional Warrant Security which would otherwise be issuable upon exercise of any Warrant, the
Company shall pay a cash adjustment in respect of such fraction in an amount equal to the same
fraction of the last reported sale price (or bid price if there were no sales) per Warrant
Security, in either case as reported on the principal registered national securities exchange on
which the Warrant Securities are listed or admitted to trading on the business day that next
precedes the day of exercise or, if the Warrant Securities are not then listed or admitted to
trading on any registered national securities exchange, the average of the closing high bid and low
asked prices as reported on the OTC Bulletin Board Service (the “OTC Bulletin Board”) operated by
the Financial Industry Regulatory Authority, Inc. (“FINRA”) or, if not available on the OTC
Bulletin Board, then the average of the closing high bid and low asked prices as reported on any
other U.S. quotation medium or inter-dealer quotation system on such date, or if on any such date
the Warrant Securities are not listed or admitted to trading on a registered national securities
exchange, are not included in the OTC Bulletin Board, and are not quoted on any other U.S.
quotation medium or inter-dealer quotation system, an amount equal to the same fraction of the
average of the closing bid and asked prices as furnished by any FINRA member firm selected from
time to time by the Company for that purpose at the close of business on the business day that next
precedes the day of exercise.

 

 

          (g) Whenever the Warrant Price then in effect is adjusted as herein
provided, the Company shall mail to each holder of the Warrants at such holder’s address as it
shall appear on the books of the Company a statement setting forth the adjusted Warrant Price then
and thereafter effective under the provisions hereof, together with the facts, in reasonable
detail, upon which such adjustment is based.

     3.5 Notice To Warrantholders. In case the Company shall (a) effect any dividend or
distribution described in Section 3.4(b), (b) effect any Reorganization Event, (c) make any
distribution on or in respect of the Common Stock in connection with the dissolution, liquidation
or winding up of the Company, or (d) reduce the then current Warrant Price pursuant to Section
3.4(d), then the Company shall mail to each holder of Warrants at such holder’s address as it shall
appear on the books of the Warrant Agent, at least ten days prior to the applicable date
hereinafter specified, a notice stating (x) the record date for such dividend or distribution, or,
if a record is not to be taken, the date as of which the holders of record of Common Stock that
will be entitled to such dividend or distribution are to be determined, (y) the date on which such
Reorganization Event, dissolution, liquidation or winding up is expected to become effective, and
the date as of which it is expected that holders of Common Stock of record shall be entitled to
exchange their shares of Common Stock for securities or other property deliverable upon such
Reorganization Event, dissolution, liquidation or winding up, or (z) the first date on which the
then current Warrant Price shall be reduced pursuant to Section 3.4(d). No failure to mail such
notice nor any defect therein or in the mailing thereof shall affect any such transaction or any
adjustment in the Warrant Price required by Section 3.4.

     3.6 [If The Warrants Are Subject To Acceleration By The Company, Insert—Acceleration Of
Warrants By The Company.

          (a) At any time on or after      , the Company shall have the right to
accelerate any or all Warrants at any time by causing them to expire at the close of business on
the day next preceding a specified date (the “Acceleration Date”), if the Market Price (as
hereinafter defined) of the Common Stock equals or exceeds            percent
(            %) of the then effective Warrant Price on any twenty Trading Days (as hereinafter defined)
within a period of thirty consecutive Trading Days ending no more than five Trading Days prior to
the date on which the Company gives notice to the Warrant Agent of its election to accelerate the
Warrants.

          (b) “Market Price” for each Trading Day shall be, if the Common Stock is listed or admitted to
trading on any registered national securities exchange, the last reported sale price, regular way
(or, if no such price is reported, the average of the reported closing bid and asked prices,
regular way) of Common Stock, in either case as reported on the principal registered national
securities exchange on which the Common Stock is listed or admitted to trading or, if not listed or
admitted to trading on any registered national securities exchange, the average of the closing high
bid and low asked prices as reported on the OTC Bulletin Board operated by FINRA, or if not
available on the OTC Bulletin Board, then the average of the closing high bid and low asked prices
as reported on any other U.S. quotation medium or inter-dealer quotation system, or if on any such
date the shares of Common Stock are not listed or admitted to trading on a registered national
securities exchange, are not included in the OTC Bulletin Board, and are not quoted on any other
U.S. quotation medium or inter-dealer quotation system, the average of the closing bid and asked
prices as furnished by any FINRA member firm selected from time to time by the Company for that
purpose. “Trading Day” shall be each Monday through Friday, other than any day on which securities
are not traded in the system or on the exchange that is the principal market for the Common Stock,
as determined by the Board of Directors of the Company.

          (c) In the event of an acceleration of less than all of the Warrants, the Warrant Agent shall
select the Warrants to be accelerated by lot, pro rata or in such other manner as it deems, in its
discretion, to be fair and appropriate.

          (d) Notice of an acceleration specifying the Acceleration Date shall be sent by mail first
class, postage prepaid, to each registered holder of a Warrant Certificate representing a Warrant
accelerated at such holder’s address appearing on the books of the Warrant Agent not more than
sixty days nor less than thirty days before the Acceleration Date. Such notice of an acceleration
also shall be given no more than twenty days, and no less than ten days, prior to the mailing of
notice to registered holders of Warrants pursuant to this Section 3.6, by publication at least once
in a newspaper of general circulation in the City of New York.

          (e) Any Warrant accelerated may be exercised until [             ] p.m., [City] time, on the
business day next preceding the Acceleration Date. The Warrant Price shall be payable as provided
in Section 2.]

 

 

ARTICLE 4

EXCHANGE AND TRANSFER OF WARRANT CERTIFICATES

     4.1 Exchange And Transfer Of Warrant Certificates. [If Other Securities with Warrants which
are immediately detachable—Upon] [If Other Securities with Warrants which are not immediately
detachable—Prior to the Detachable Date, a Warrant Certificate may be exchanged or transferred
only together with the Other Security to which the Warrant Certificate was initially attached, and
only for the purpose of effecting or in conjunction with an exchange or transfer of such Other
Security. Prior to any Detachable Date, each transfer of the Other Security shall operate also to
transfer the related Warrant Certificates. After the Detachable Date, upon] surrender at the
corporate trust office of the Warrant Agent, Warrant Certificates evidencing Warrants may be
exchanged for Warrant Certificates in other denominations evidencing such Warrants or the transfer
thereof may be registered in whole or in part; provided that such other Warrant Certificates
evidence Warrants for the same aggregate number of Warrant Securities as the Warrant Certificates
so surrendered. The Warrant Agent shall keep, at its corporate trust office, books in which,
subject to such reasonable regulations as it may prescribe, it shall register Warrant Certificates
and exchanges and transfers of outstanding Warrant Certificates, upon surrender of the Warrant
Certificates to the Warrant Agent at its corporate trust office for exchange or registration of
transfer, properly endorsed or accompanied by appropriate instruments of registration of transfer
and written instructions for transfer, all in form satisfactory to the Company and the Warrant
Agent. No service charge shall be made for any exchange or registration of transfer of Warrant
Certificates, but the Company may require payment of a sum sufficient to cover any stamp or other
tax or other governmental charge that may be imposed in connection with any such exchange or
registration of transfer. Whenever any Warrant Certificates are so surrendered for exchange or
registration of transfer, an authorized officer of the Warrant Agent shall manually countersign and
deliver to the person or persons entitled thereto a Warrant Certificate or Warrant Certificates
duly authorized and executed by the Company, as so requested. The Warrant Agent shall not be
required to effect any exchange or registration of transfer which will result in the issuance of a
Warrant Certificate evidencing a Warrant for a fraction of a Warrant Security or a number of
Warrants for a whole number of Warrant Securities and a fraction of a Warrant Security. All Warrant
Certificates issued upon any exchange or registration of transfer of Warrant Certificates shall be
the valid obligations of the Company, evidencing the same obligations and entitled to the same
benefits under this Agreement as the Warrant Certificate surrendered for such exchange or
registration of transfer.

     4.2 Treatment Of Holders Of Warrant Certificates. [If Other Securities and Warrants are not
immediately detachable—Prior to the Detachable Date, the Company, the Warrant Agent and all other
persons may treat the owner of the Other Security as the owner of the Warrant Certificates
initially attached thereto for any purpose and as the person entitled to exercise the rights
represented by the Warrants evidenced by such Warrant Certificates, any notice to the contrary
notwithstanding. After the Detachable Date and prior to due presentment of a Warrant Certificate
for registration of transfer, the] [The] Company, the Warrant Agent and all other persons may treat
the registered holder of a Warrant Certificate as the absolute owner thereof for any purpose and as
the person entitled to exercise the rights represented by the Warrants evidenced thereby, any
notice to the contrary notwithstanding.

     4.3 Cancellation Of Warrant Certificates. Any Warrant Certificate surrendered for exchange,
registration of transfer or exercise of the Warrants evidenced thereby shall, if surrendered to the
Company, be delivered to the Warrant Agent and all Warrant Certificates surrendered or so delivered
to the Warrant Agent shall be promptly canceled by the Warrant Agent and shall not be reissued and,
except as expressly permitted by this Agreement, no Warrant Certificate shall be issued hereunder
in exchange therefor or in lieu thereof.

     The Warrant Agent shall deliver to the Company from time to time or otherwise dispose of
canceled Warrant Certificates in a manner satisfactory to the Company.

ARTICLE 5

CONCERNING THE WARRANT AGENT

     5.1 Warrant Agent. The Company hereby appoints                as Warrant Agent of the
Company in respect of the Warrants and the Warrant Certificates upon the terms and subject to the
conditions herein set forth, and

 

 

               hereby accepts such appointment. The Warrant Agent shall have the powers and authority granted to and conferred upon it in the Warrant
Certificates and hereby and such further powers and authority to act on behalf of the Company as
the Company may hereafter grant to or confer upon it. All of the terms and provisions with respect
to such powers and authority contained in the Warrant Certificates are subject to and governed by the
terms and provisions hereof.

     5.2 Conditions Of Warrant Agent’s Obligations. The Warrant Agent accepts its obligations
herein set forth upon the terms and conditions hereof, including the following to all of which the
Company agrees and to all of which the rights hereunder of the holders from time to time of the
Warrant Certificates shall be subject:

          (a) Compensation And Indemnification. The Company agrees promptly to pay the Warrant Agent the
compensation to be agreed upon with the Company for all services rendered by the Warrant Agent and
to reimburse the Warrant Agent for reasonable out-of-pocket expenses (including reasonable counsel
fees) incurred without negligence, bad faith or willful misconduct by the Warrant Agent in
connection with the services rendered hereunder by the Warrant Agent. The Company also agrees to
indemnify the Warrant Agent for, and to hold it harmless against, any loss, liability or expense
incurred without negligence, bad faith or willful misconduct on the part of the Warrant Agent,
arising out of or in connection with its acting as Warrant Agent hereunder, including the
reasonable costs and expenses of defending against any claim of such liability.

          (b) Agent For The Company. In acting under this Warrant Agreement and in connection with the
Warrant Certificates, the Warrant Agent is acting solely as agent of the Company and does not
assume any obligations or relationship of agency or trust for or with any of the holders of Warrant
Certificates or beneficial owners of Warrants.

          (c) Counsel. The Warrant Agent may consult with counsel satisfactory to it, which may include
counsel for the Company, and the written advice of such counsel shall be full and complete
authorization and protection in respect of any action taken, suffered or omitted by it hereunder in
good faith and in accordance with the advice of such counsel.

          (d) Documents. The Warrant Agent shall be protected and shall incur no liability for or in
respect of any action taken or omitted by it in reliance upon any Warrant Certificate, notice,
direction, consent, certificate, affidavit, statement or other paper or document reasonably
believed by it to be genuine and to have been presented or signed by the proper parties.

          (e) Certain Transactions. The Warrant Agent, and its officers, directors and employees, may
become the owner of, or acquire any interest in, Warrants, with the same rights that it or they
would have if it were not the Warrant Agent hereunder, and, to the extent permitted by applicable
law, it or they may engage or be interested in any financial or other transaction with the Company
and may act on, or as depositary, trustee or agent for, any committee or body of holders of Warrant
Securities or other obligations of the Company as freely as if it were not the Warrant Agent
hereunder. Nothing in this Warrant Agreement shall be deemed to prevent the Warrant Agent from
acting as trustee under any indenture to which the Company is a party.

          (f) No Liability For Interest. Unless otherwise agreed with the Company, the Warrant Agent
shall have no liability for interest on any monies at any time received by it pursuant to any of
the provisions of this Agreement or of the Warrant Certificates.

          (g) No Liability For Invalidity. The Warrant Agent shall have no liability with respect to any
invalidity of this Agreement or any of the Warrant Certificates (except as to the Warrant Agent’s
countersignature thereon).

          (h) No Responsibility For Representations. The Warrant Agent shall not be responsible for any
of the recitals or representations herein or in the Warrant Certificates (except as to the Warrant
Agent’s countersignature thereon), all of which are made solely by the Company.

          (i) No Implied Obligations. The Warrant Agent shall be obligated to perform only such duties
as are herein and in the Warrant Certificates specifically set forth and no implied duties or
obligations shall be read into this Agreement or the Warrant Certificates against the Warrant
Agent. The Warrant Agent shall not be under any

 

 

obligation to take any action hereunder which may tend to involve it in any expense or liability, the payment of which within a reasonable time is
not, in its reasonable opinion, assured to it. The Warrant Agent shall not be accountable or under
any duty or responsibility for the use by the Company of any of the Warrant Certificates authenticated by the Warrant Agent and delivered by it to the Company pursuant to this Agreement or
for the application by the Company of the proceeds of the Warrant Certificates. The Warrant Agent
shall have no duty or responsibility in case of any default by the Company in the performance of
its covenants or agreements contained herein or in the Warrant Certificates or in the case of the
receipt of any written demand from a holder of a Warrant Certificate with respect to such default,
including, without limiting the generality of the foregoing, any duty or responsibility to initiate
or attempt to initiate any proceedings at law or otherwise or, except as provided in Section 6.2
hereof, to make any demand upon the Company.

     5.3 Resignation, Removal And Appointment Of Successors.

          (a) The Company agrees, for the benefit of the holders from time to time of the Warrant
Certificates, that there shall at all times be a Warrant Agent hereunder until all the Warrants
have been exercised or are no longer exercisable.

          (b) The Warrant Agent may at any time resign as agent by giving written notice to the Company
of such intention on its part, specifying the date on which its desired resignation shall become
effective; provided that such date shall not be less than three months after the date on which such
notice is given unless the Company otherwise agrees. The Warrant Agent hereunder may be removed at
any time by the filing with it of an instrument in writing signed by or on behalf of the Company
and specifying such removal and the intended date when it shall become effective. Such resignation
or removal shall take effect upon the appointment by the Company, as hereinafter provided, of a
successor Warrant Agent (which shall be a bank or trust company authorized under the laws of the
jurisdiction of its organization to exercise corporate trust powers) and the acceptance of such
appointment by such successor Warrant Agent. The obligation of the Company under Section 5.2(a)
shall continue to the extent set forth therein notwithstanding the resignation or removal of the
Warrant Agent.

          (c) In case at any time the Warrant Agent shall resign, or shall be removed, or shall become
incapable of acting, or shall be adjudged a bankrupt or insolvent, or shall commence a voluntary
case under the Federal bankruptcy laws, as now or hereafter constituted, or under any other
applicable Federal or state bankruptcy, insolvency or similar law or shall consent to the
appointment of or taking possession by a receiver, custodian, liquidator, assignee, trustee,
sequestrator (or other similar official) of the Warrant Agent or its property or affairs, or shall
make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its
debts generally as they become due, or shall take corporate action in furtherance of any such
action, or a decree or order for relief by a court having jurisdiction in the premises shall have
been entered in respect of the Warrant Agent in an involuntary case under the Federal bankruptcy
laws, as now or hereafter constituted, or any other applicable Federal or state bankruptcy,
insolvency or similar law, or a decree or order by a court having jurisdiction in the premises
shall have been entered for the appointment of a receiver, custodian, liquidator, assignee,
trustee, sequestrator (or similar official) of the Warrant Agent or of its property or affairs, or
any public officer shall take charge or control of the Warrant Agent or of its property or affairs
for the purpose of rehabilitation, conservation, winding up or liquidation, a successor Warrant
Agent, qualified as aforesaid, shall be appointed by the Company by an instrument in writing, filed
with the successor Warrant Agent. Upon the appointment as aforesaid of a successor Warrant Agent
and acceptance by the successor Warrant Agent of such appointment, the Warrant Agent shall cease to
be Warrant Agent hereunder.

          (d) Any successor Warrant Agent appointed hereunder shall execute, acknowledge and deliver to
its predecessor and to the Company an instrument accepting such appointment hereunder, and
thereupon such successor Warrant Agent, without any further act, deed or conveyance, shall become
vested with all the authority, rights, powers, trusts, immunities, duties and obligations of such
predecessor with like effect as if originally named as Warrant Agent hereunder, and such
predecessor, upon payment of its charges and disbursements then unpaid, shall thereupon become
obligated to transfer, deliver and pay over, and such successor Warrant Agent shall be entitled to
receive, all monies, securities and other property on deposit with or held by such predecessor, as
Warrant Agent hereunder.

 

 

          (e) Any corporation into which the Warrant Agent hereunder may be merged or
converted or any corporation with which the Warrant Agent may be consolidated, or any corporation
resulting from any merger, conversion or consolidation to which the Warrant Agent shall be a party,
or any corporation to which the Warrant Agent shall sell or otherwise transfer all or substantially
all the assets and business of the Warrant Agent, provided that it shall be qualified as aforesaid, shall be the successor Warrant Agent under this Agreement without the
execution or filing of any paper or any further act on the part of any of the parties hereto.

ARTICLE 6

MISCELLANEOUS

     6.1 Amendment. This Agreement may be amended by the parties hereto, without the consent of the
holder of any Warrant Certificate, for the purpose of curing any ambiguity, or of curing,
correcting or supplementing any defective provision contained herein, or making any other
provisions with respect to matters or questions arising under this Agreement as the Company and the
Warrant Agent may deem necessary or desirable; provided that such action shall not materially
adversely affect the interests of the holders of the Warrant Certificates.

     6.2 Notices And Demands To The Company And Warrant Agent. If the Warrant Agent shall receive
any notice or demand addressed to the Company by the holder of a Warrant Certificate pursuant to
the provisions of the Warrant Certificates, the Warrant Agent shall promptly forward such notice or
demand to the Company.

     6.3 Addresses. Any communication from the Company to the Warrant Agent with respect to this
Agreement shall be addressed to                , Attention:                and any communication
from the Warrant Agent to the Company with respect to this Agreement shall be addressed to Ardea
Biosciences, Inc., 4939 Directors Place, San Diego, California, 92121, Attention: Corporate
Secretary (or such other address as shall be specified in writing by the Warrant Agent or by the
Company).

     6.4 Governing Law. This Agreement and each Warrant Certificate issued hereunder shall be
governed by and construed in accordance with the laws of the State of New York.

     6.5 Delivery Of Prospectus. The Company shall furnish to the Warrant Agent sufficient copies
of a prospectus meeting the requirements of the Securities Act of 1933, as amended, relating to the
Warrant Securities deliverable upon exercise of the Warrants (the “Prospectus”), and the Warrant
Agent agrees that upon the exercise of any Warrant, the Warrant Agent will deliver to the holder of
the Warrant Certificate evidencing such Warrant, prior to or concurrently with the delivery of the
Warrant Securities issued upon such exercise, a Prospectus.

     The Warrant Agent shall not, by reason of any such delivery, assume any responsibility for the
accuracy or adequacy of such Prospectus.

     6.6 Obtaining Of Governmental Approvals. The Company will from time to time take all action
which may be necessary to obtain and keep effective any and all permits, consents and approvals of
governmental agencies and authorities and securities act filings under United States Federal and
state laws (including without limitation a registration statement in respect of the Warrants and
Warrant Securities under the Securities Act of 1933, as amended), which may be or become requisite
in connection with the issuance, sale, transfer, and delivery of the Warrant Securities issued upon
exercise of the Warrants, the issuance, sale, transfer and delivery of the Warrants or upon the
expiration of the period during which the Warrants are exercisable.

     6.7 Persons Having Rights Under Warrant Agreement. Nothing in this Agreement shall give to any
person other than the Company, the Warrant Agent and the holders of the Warrant Certificates any
right, remedy or claim under or by reason of this Agreement.

     6.8 Headings. The descriptive headings of the several Articles and Sections of this Agreement
are inserted for convenience only and shall not control or affect the meaning or construction of
any of the provisions hereof.

 

 

     6.9 Counterparts. This Agreement may be executed in any number of counterparts, each
of which as so executed shall be deemed to be an original, but such counterparts shall together
constitute but one and the same instrument.

     6.10 Inspection Of Agreement. A copy of this Agreement shall be available at all reasonable
times at the principal corporate trust office of the Warrant Agent for inspection by the holder of
any Warrant Certificate. The Warrant Agent may require such holder to submit his Warrant
Certificate for inspection by it.

     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed, all as
of the day and year first above written.

	 	 	 	 	 
	 	ARDEA BIOSCIENCES, INC.

 	 
	 	By  	 	 
	 	 	Its 	 	 
	 

Attest:

	 	 	 	 	 
	 	Warrant Agent 

 	 
	 	By  	 	 
	 	 	Its 	 	 
	 

Attest:

[SIGNATURE PAGE TO COMMON STOCK WARRANT AGREEMENT]

 

 

EXHIBIT A

FORM OF WARRANT CERTIFICATE

[FACE OF WARRANT CERTIFICATE]

	 	 	 

	[[Form if Warrants are attached
to Other Securities and are not immediately detachable.]

	 	[Prior to                , this Warrant
Certificate cannot be transferred or exchanged unless attached to
a [Title of Other Securities].]
	 
	 	 
	[Form of Legend if Warrants are not immediately
exercisable.]

	 	[Prior to                , Warrant evidenced by this
Warrant Certificate cannot be exercised.]

EXERCISABLE ONLY IF COUNTERSIGNED BY THE WARRANT AGENT AS PROVIDED HEREIN

VOID AFTER [          ] P.M., [CITY] TIME, ON                ,

 

 

ARDEA BIOSCIENCES, INC.

WARRANT CERTIFICATE REPRESENTING

WARRANTS TO PURCHASE

COMMON STOCK, PAR VALUE $0.001 PER SHARE

	 	 	 

	No.

	 	Warrants

     This certifies that                or registered assigns is the registered owner of the above
indicated number of Warrants, each Warrant entitling such owner [if Warrants are attached to Other
Securities and are not immediately detachable—, subject to the registered owner qualifying as a
“Holder” of this Warrant Certificate, as hereinafter defined),] to purchase, at any time [after [          ] p.m., [City] time, on            and] on or before [          ] p.m., [City] time, on
          ,            shares of Common Stock, par value $0.001 per share (the “Warrant
Securities”), of Ardea Biosciences, Inc. (the “Company”) on the following basis: during the period
from                , through and including                , the exercise price per Warrant
Security will be $           , subject to adjustment as provided in the Warrant Agreement (as hereinafter
defined) (the “Warrant Price”). The Holder may exercise the Warrants evidenced hereby by providing
certain information set forth on the back hereof and by paying in full, in lawful money of the
United States of America, [in cash or by certified check or official bank check in New York
Clearing House funds] [by bank wire transfer in immediately available funds], the Warrant Price for
each Warrant Security with respect to which this Warrant is exercised to the Warrant Agent (as
hereinafter defined) and by surrendering this Warrant Certificate, with the purchase form on the
back hereof duly executed, at the corporate trust office of [name of Warrant Agent], or its
successor as warrant agent (the “Warrant Agent”), which is, on the date hereof, at the address
specified on the reverse hereof, and upon compliance with and subject to the conditions set forth
herein and in the Warrant Agreement (as hereinafter defined).

     The term “Holder” as used herein shall mean [if Warrants are attached to Other Securities and
are not immediately detachable—prior to                ,                (the “Detachable
Date”), the registered owner of the Company’s [title of Other Securities] to which this Warrant
Certificate was initially attached, and after such Detachable Date,] the person in whose name at
the time this Warrant Certificate shall be registered upon the books to be maintained by the
Warrant Agent for that purpose pursuant to Section 4 of the Warrant Agreement.

     The Warrants evidenced by this Warrant Certificate may be exercised to purchase a whole number
of Warrant Securities in registered form. Upon any exercise of fewer than all of the Warrants
evidenced by this Warrant Certificate, there shall be issued to the Holder hereof a new Warrant
Certificate evidencing Warrants for the number of Warrant Securities remaining unexercised.

     This Warrant Certificate is issued under and in accordance with the Warrant Agreement dated as
of                ,                (the “Warrant Agreement”), between the Company and the
Warrant Agent and is subject to the terms and provisions contained in the Warrant Agreement, to all
of which terms and provisions the Holder of this Warrant Certificate consents by acceptance hereof.
Copies of the Warrant Agreement are on file at the above-mentioned office of the Warrant Agent.

     [If Warrants are attached to Other Securities and are not immediately detachable — Prior to
the Detachable Date, this Warrant Certificate may be exchanged or transferred only together with
the [Title of Other Securities] (the “Other Securities”) to which this Warrant Certificate was
initially attached, and only for the purpose of effecting or in conjunction with, an exchange or
transfer of such Other Security. Additionally, on or prior to the Detachable Date, each transfer of
such Other Security on the register of the Other Securities shall operate also to transfer this
Warrant Certificate. After such date, transfer of this] [If Warrants are attached to Other
Securities and are immediately detachable — Transfer of this] Warrant Certificate may be
registered when this Warrant Certificate is surrendered at the corporate trust office of the
Warrant Agent by the registered owner or such owner’s assigns, in the manner and subject to the
limitations provided in the Warrant Agreement.

     [If Other Securities with Warrants which are not immediately detachable — Except as
provided in the immediately preceding paragraph, after] [If Other Securities with Warrants which
are immediately detachable or Warrants alone — After] countersignature by the Warrant Agent and
prior to the expiration of this Warrant

 

 

Certificate, this Warrant Certificate may be exchanged at the corporate trust office of the Warrant
Agent for Warrant Certificates representing Warrants for the same aggregate number of Warrant
Securities.

     This Warrant Certificate shall not entitle the Holder hereof to any of the rights of a holder
of the Warrant Securities, including, without limitation, the right to receive payments of
dividends or distributions, if any, on the Warrant Securities (except to the extent set forth in
the Warrant Agreement) or to exercise any voting rights.

     Reference is hereby made to the further provisions of this Warrant Certificate set forth on
the reverse hereof, which further provisions shall for all purposes have the same effect as if set
forth at this place.

     This Warrant Certificate shall not be valid or obligatory for any purpose until countersigned
by the Warrant Agent.

     IN WITNESS WHEREOF, the Company has caused this Warrant to be executed in its name and on its
behalf by the facsimile signatures of its duly authorized officers.

Dated:

	 	 	 	 	 
	 	ARDEA BIOSCIENCES, INC. 

 	 
	 	By  	 	 
	 	 	Its 	 	 
	 

Attest:

	 	 	 	 	 
	 	Countersigned: 

As Warrant Agent 

 	 
	 	By  	 	 
	 	 	Authorized Signature 	 
	 	 	 	 

 

 

	 	 	 	 	 

[REVERSE OF WARRANT CERTIFICATE]

(Instructions for Exercise of Warrant)

     To exercise any Warrants evidenced hereby for Warrant Securities (as hereinafter defined), the
Holder must pay, in lawful money of the United States of America, [in cash or by certified check or
official bank check in New York Clearing House funds] [by bank wire transfer in immediately
available funds], the Warrant Price in full for Warrants exercised, to [Warrant Agent] [address of
Warrant Agent], Attn:                , which payment must specify the name of the Holder and the
number of Warrants exercised by such Holder. In addition, the Holder must complete the information
required below and present this Warrant Certificate in person or by mail (certified or registered
mail is recommended) to the Warrant Agent at the appropriate address set forth above. This Warrant
Certificate, completed and duly executed, must be received by the Warrant Agent within five
business days of the payment.

(To be executed upon exercise of Warrants)

     The undersigned hereby irrevocably elects to exercise                Warrants, evidenced by
this Warrant Certificate, to purchase                shares of the Common Stock, par value $0.001
per share (the “Warrant Securities”), of Ardea Biosciences, Inc. and represents that he has
tendered payment for such Warrant Securities, in lawful money of the United States of America, [in
cash or by certified check or official bank check in New York Clearing House funds] [by bank wire
transfer in immediately available funds], to the order of Ardea Biosciences, Inc., c/o [insert name
and address of Warrant Agent], in the amount of $           in accordance with the terms hereof. The
undersigned requests that said Warrant Securities be in fully registered form in the authorized
denominations, registered in such names and delivered all as specified in accordance with the
instructions set forth below.

     If the number of Warrants exercised is less than all of the Warrants evidenced hereby, the
undersigned requests that a new Warrant Certificate evidencing the Warrants for the number of
Warrant Securities remaining unexercised be issued and delivered to the undersigned unless
otherwise specified in the instructions below.

	 	 	 	 	 	 	 

	Dated
	 	 	 	Name	 	 
	 
	 	 	 	 
	 

	 	 	 	 	 	Please Print
	 
	 	 	 	 	 	 
	Address:
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	(Insert Social Security or Other
Identifying Number of Holder)	 	 	 	 
	 
	 	 	 	 	 	 
	Signature 

Guaranteed
	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Signature	 	 	 	 

 

 

(Signature must conform in all respects to name of holder as specified on the face of this Warrant
Certificate and must bear a signature guarantee by a bank, trust company or member broker of the
New York, Midwest or Pacific Stock Exchange).

This Warrant may be exercised at the following addresses:

By hand

at

By mail

at

[Instructions as to form and delivery of Warrant Securities and, if applicable, Warrant Certificates evidencing
Warrants for the number of Warrant Securities remaining unexercised—complete as appropriate.]

 

 

ASSIGNMENT

[Form of assignment to be executed if Warrant Holder desires to transfer Warrant)

FOR VALUE RECEIVED,           hereby sells, assigns and transfers unto:

	 	 	 

	(Please print name and address including zip code)

	 	Please print Social Security or other identifying number

the right represented by the within Warrant to purchase                 shares of [Title of
Warrant Securities] of Ardea Biosciences, Inc. to which the within Warrant relates and appoints
attorney to transfer such right on the books of the Warrant Agent with full
power of substitution in the premises.

	 	 	 	 	 

	Dated

	 	 	 	 
	 

	 	 
	 	 
	 

	 	 	 	Signature

(Signature must conform in all respects to name of holder as specified on the face of the Warrant)

Signature Guaranteedexv10w1

Exhibit 10.1

FORM OF

ADVISORY AGREEMENT

     This ADVISORY AGREEMENT (this “Agreement”) is entered into on this the ___ day of _________,
2010, by and between COLE CORPORATE INCOME TRUST, INC., a Maryland corporation (the “Company”), and
COLE CORPORATE INCOME ADVISORS, LLC, a Delaware limited liability company (the “Advisor”).

W I T N E S S E T H

     WHEREAS, the Company intends to issue shares of its common stock, par value $.01, to the
public, upon registration of such shares with the Securities and Exchange Commission pursuant to
the Securities Act of 1933, as amended;

     WHEREAS, the Company intends to qualify as a real estate investment trust and to invest its
funds in investments permitted by the terms of the Company’s Articles of Amendment and Restatement
and Sections 856 through 860 of the Internal Revenue Code;

     WHEREAS, the Company desires to avail itself of the experience, sources of information,
advice, assistance and certain facilities available to the Advisor and to have the Advisor
undertake the duties and responsibilities hereinafter set forth, on behalf of, and subject to the
supervision of, the Board of Directors (the “Board”) of the Company, all as provided herein; and

     WHEREAS, the Advisor is willing to undertake to render such services, subject to the
supervision of the Board, on the terms and conditions hereinafter set forth.

     NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants and agreements
contained herein, and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereto agree as follows:

ARTICLE I

DEFINITIONS

     The following defined terms used in this Agreement shall have the meanings specified below:

Acquisition Expenses. Any and all expenses incurred by the Company, the Advisor, or any
Affiliate of either in connection with the selection, evaluation, structuring, acquisition or development of any Asset,
whether or not acquired, including, without limitation, legal fees and expenses, travel and
communications expenses, costs of appraisals, nonrefundable option payments on property not
acquired, accounting fees and expenses, and title insurance premiums.

Acquisition Fees. The fees payable to the Advisor pursuant to Section 3.01(b) of this
Agreement.

Advisor. Cole Corporate Income Advisors, LLC, a Delaware limited liability company, any
successor advisor to the Company, or any Person to which Cole Corporate Income Advisors, LLC, or
any successor advisor subcontracts all or substantially all of its functions.

Advisory Fee. The fee payable to the Advisor for day-to-day professional management
services in connection with the Company and its investments in Assets pursuant to this Agreement.

 

 

Affiliate or Affiliated. As to any Person, (i) any Person directly or indirectly
owning, controlling, or holding, with the power to vote, 10% or more of the outstanding voting
securities of such Person; (ii) any Person 10% or more of whose outstanding voting securities are
directly or indirectly owned, controlled, or held, with power to vote, by such other Person; (iii)
any Person, directly or indirectly, controlling, controlled by, or under common control with such
Person; (iv) any executive officer, director, trustee or general partner of such Person; and (v)
any legal entity for which such Person acts as an executive officer, director, trustee or general
partner.

Appraised Value. Value according to an appraisal made by an Independent Expert.

Articles of Incorporation. The Articles of Incorporation of the Company filed with the
Maryland State Department of Assessments and Taxation in accordance with the Maryland General
Corporation Law, as amended from time to time.

Assets. Properties, Mortgages and other direct or indirect investments in equity interests
in, or loans secured by, Real Property (other than investments in bank accounts, money market funds
or other current assets, whether of the proceeds from an Offering or the sale of an Asset or
otherwise) owned by the Company, directly or indirectly through one or more of its Affiliates.

Average Invested Assets. For a specified period, the average of the aggregate book value
of the Assets, before reserves for depreciation, amortization, bad debts or other similar non-cash
reserves, other than impairment charges, computed by taking the average of such values at the end
of each business day during such period; provided, however, that after the Board is determining on
a regular basis an estimated per share value of the Shares, “Average Invested Assets” will be based
upon the aggregate valuation of the Assets as reasonably determined by the Board.

Board. The Board of Directors of the Company.

Bylaws. The bylaws of the Company, as the same are in effect as amended from time to time.

Change of Control. Any event (including, without limitation, issue, transfer or other
disposition of Shares of capital stock of the Company or equity interests in the Partnership,
merger, share exchange or consolidation) after which any “person” (as that term is used in Sections
13(d) and 14(d) of the Securities Exchange Act of 1934, as amended) is or becomes the “beneficial
owner” (as defined in Rule 13d-j of the Securities Exchange Act of 1934, as amended), directly or
indirectly, of securities of the Company or the Partnership representing greater than 50% or more
of the combined voting power of the Company’s or the Partnership’s then outstanding securities,
respectively; provided, that, a Change of Control shall not be deemed to occur as a result of any
widely distributed public offering of the Shares.

Code. Internal Revenue Code of 1986, as amended from time to time, or any successor
statute thereto. Reference to any provision of the Code shall mean such provision as in effect from
time to time, as the same may be amended, and any successor provision thereto, as interpreted by
any applicable regulations as in effect from time to time.

Company. Cole Corporate Income Trust, Inc., a corporation organized under the laws of the
State of Maryland.

Competitive Real Estate Commission. A real estate or brokerage commission paid or, if no
such commission is paid, the amount that customarily would be paid, for the purchase or sale of a
Property which is reasonable, customary, and competitive in light of the size, type and location of
the Property.

-2-

 

3

Construction Fee. A fee or other remuneration for acting as general contractor and/or
construction manager to construct improvements, supervise and coordinate projects or to provide
major repairs or rehabilitations on a Property.

Contract Purchase Price. The amount actually paid or allocated in respect of the purchase,
development, construction or improvement of an Asset, or the amount of funds advanced with respect
to a Mortgage, exclusive of Acquisition Fees and Acquisition Expenses.

Contract Sales Price. The total consideration provided for in the sales contract for the
sale of a Property.

Dealer Manager. Cole Capital Corporation, an Affiliate of the Advisor, or such Person
selected by the Board to act as the dealer manager for an Offering.

Director. A member of the Board of Directors.

Distributions. Any dividends or other distributions of money or other property by the
Company to owners of Shares, including distributions that may constitute a return of capital for
federal income tax purposes.

Gross Proceeds. The aggregate purchase price of all Shares sold for the account of the
Company through an Offering, without deduction for Selling Commissions, volume discounts, dealer
manager fees, or Organization and Offering Expenses. For the purpose of computing Gross Proceeds,
the purchase price of any Share for which reduced Selling Commissions or dealer manager fees are
paid to the Dealer Manager or a Soliciting Dealer (where net proceeds to the Company are not
reduced) shall be deemed to be the full amount of the Offering price per Share pursuant to the
Prospectus for such Offering without reduction.

Independent Expert. A Person with no material current or prior business or personal
relationship with the Advisor or the Directors who is engaged to a substantial extent in the business of
rendering opinions regarding the value of Assets of the type held by the Company or of other Assets as determined by the Board. Membership in a
nationally recognized appraisal society such as the American Institute of Real Estate Appraisers or
the Society of Real Estate Appraisers shall be conclusive evidence of such qualification as to Real
Property.

Independent Director. A Director who is not, and within the last two years has not been,
directly or indirectly associated with the Sponsor, the Company or the Advisor by virtue of (i)
ownership of an interest in the Sponsor, the Advisor or any of their Affiliates, (ii) employment by
the Company, the Sponsor, the Advisor or any of their Affiliates, (iii) service as an officer or
director of the Sponsor, the Advisor or any of their Affiliates, (iv) performance of services,
other than as a Director, for the Company, (v) service as a director or trustee of more than three
real estate investment trusts organized by the Sponsor or advised by the Advisor or (vi)
maintenance of a material business or professional relationship with the Sponsor, the Advisor or
any of their Affiliates. A business or professional relationship is considered “material” per se
if the aggregate gross revenue derived by the prospective Independent Director from the Sponsor,
the Advisor and their Affiliates exceeds 5.0% of either the Director’s annual gross revenue during
either of the last two years or the Director’s net worth on a fair market value basis. An indirect
association with the Sponsor or the Advisor shall include circumstances in which a Director’s
spouse, parent, child, sibling, mother- or father-in-law, son- or daughter-in-law, or brother- or
sister-in-law is or has been associated with the Sponsor, the Advisor, any of their Affiliates or
the Company.

Invested Capital. The amount calculated by multiplying the total number of Shares
purchased by Stockholders by the issue price at the time of such purchase, reduced by the portion
of any Distribution
that is attributable to Net Sales Proceeds and by any amounts paid by the Company to repurchase
Shares pursuant to the Company’s plan for repurchase of Shares.

-3-

 

Joint Ventures. The joint venture or partnership arrangements in which the Company or the
Partnership is a co-venturer or general partner which are established to acquire or hold Assets.

Listing or Listed. The approval of the Company’s application to list the Shares by
a national securities exchange and the commencement of trading in the Shares on the respective
national securities exchange. Upon such Listing, the Shares shall be deemed Listed.

Market Value. Upon Listing, the market value of the outstanding Shares, measured by taking
the average closing price for a single Share over a period of 30 consecutive trading days, with
such period beginning 180 days after Listing, multiplying that number by the number of Shares
outstanding on the date of measurement.

Mortgages. In connection with mortgage financing provided, invested in or purchased by the
Company, all of the notes, deeds of trust, security interests or other evidences of indebtedness or
obligations, which are secured or collateralized by Real Property owned by the borrowers under such
notes, deeds of trust, security interests or other evidences of indebtedness or obligations.

NASAA Guidelines. The Statement of Policy Regarding Real Estate Investment Trusts
published by the North American Securities Administrators Association, Inc. on May 7, 2007, and in
effect on the date hereof.

Net Income. For any period, the Company’s total revenues applicable to such period, less
the total expenses applicable to such period other than additions to reserves for depreciation, bad
debts or other similar non-cash reserves and excluding any gain from the sale of the Assets. If
the Advisor is paid a Subordinated Performance Fee in connection with a Listing, “Net Income” for
purposes of calculating Total Operating Expenses, shall exclude the gain from the Sale of any
Assets.

Net Sales Proceeds. In the case of a transaction described in clause (A) of the definition
of Sale, the proceeds of any such transaction less the amount of selling expenses incurred by or on
behalf of the Company, including all real estate commissions, closing costs and legal fees and
expenses. In the case of a transaction described in clause (B) of such definition, Net Sales
Proceeds means the proceeds of any such transaction less the amount of selling expenses incurred by
or on behalf of the Company, including any legal fees and expenses and other selling expenses
incurred in connection with such transaction. In the case of a transaction described in clause (C)
of such definition, Net Sales Proceeds means the proceeds of any such transaction actually
distributed to the Company from the Joint Venture less the amount of any selling expenses,
including legal fees and expenses incurred by or on behalf of the Company (other than those paid by
the Joint Venture). In the case of a transaction or series of transactions described in clause (D)
of the definition of Sale, Net Sales Proceeds means the proceeds of any such transaction (including
the aggregate of all payments under a Mortgage or in satisfaction thereof other than regularly
scheduled interest payments) less the amount of selling expenses incurred by or on behalf of the
Company, including all commissions, closing costs and legal fees and expenses. In the case of a
transaction described in clause (E) of such definition, Net Sales Proceeds means the proceeds of
any such transaction less the amount of selling expenses incurred by or on behalf of the Company,
including any legal fees and expenses and other selling expenses incurred in connection with such
transaction. In the case of a transaction described in the last sentence of the definition of Sale,
Net Sales Proceeds means the proceeds of such transaction or series of transactions less all
amounts generated thereby which are reinvested in one or more Assets within 180 days thereafter and
less the amount of any real estate commissions, closing costs, and legal fees and expenses and
other selling expenses incurred by or

-4-

 

allocated to the Company in connection with such transaction or series of transactions. Net Sales
Proceeds shall also include any consideration (including non-cash consideration such as stock,
notes, or other property or securities) that the Company determines, in its discretion, to be
economically equivalent to proceeds of a Sale, valued in the reasonable determination of the
Company. Net Sales Proceeds shall not include any reserves established by the Company in its sole
discretion.

Offering. Any public offering and sale of Shares pursuant to an effective registration
statement filed under the Securities Act, other than a public offering of Shares under a
distribution reinvestment plan and Shares offered under any employee benefit plan.

Operating Expenses. All costs and expenses paid or incurred by the Company, as determined
under generally accepted accounting principles, which are in any way related to the operation of
the Company or to Company business, including the Advisory Fee, but excluding (i) the expenses of
raising capital such as Organization and Offering Expenses, legal, audit, accounting, underwriting,
brokerage, listing, registration, and other fees, printing and other such expenses and tax incurred
in connection with the issuance, distribution, transfer, registration and Listing of the Shares,
(ii) interest payments, (iii) taxes, (iv) non-cash expenditures such as depreciation, amortization
and bad debt reserves, (v) the Subordinated Performance Fee, (vi) Acquisition Fees and Acquisition
Expenses, (vii) real estate commissions on the Sale of Property, and (viii) other fees and expenses
connected with the acquisition, disposition, management and ownership of real estate interests,
mortgage loans or other property (including the costs of foreclosure, insurance premiums, legal
services, maintenance, repair and improvement of property).

Organization and Offering Expenses. All expenses incurred by, and to be paid from, the
assets of the Company in connection with and in preparing the Company for registration of and
subsequently offering and distributing its Shares to the public, which may include, but are not
limited to, total underwriting and brokerage discounts and commissions (including fees of the
underwriters’ attorneys); expenses for printing, engraving and mailing; salaries of employees while
engaged in sales activities; charges of transfer agents, registrars, trustees, escrow holders,
depositaries and experts; and expenses of qualification of the sale of the securities under federal
and state laws, including taxes and fees; and accountants’ and attorneys’ fees.

Partnership. Cole Corporate Income Operating Partnership, LP, a Delaware limited
partnership, through which the Company may own Assets.

Person. An individual, corporation, business trust, estate, trust, partnership, limited
liability company or other legal entity.

Property or Properties. As the context requires, any, or all, respectively, of the
Real Property acquired by the Company, either directly or indirectly (whether through joint venture
arrangements or other partnership or investment interests).

Prospectus. Prospectus has the meaning set forth in Section 2(10) of the Securities Act,
including a preliminary prospectus, an offering circular as described in Rule 253 of the General
Rules and Regulations under the Securities Act or, in the case of an intrastate offering, any
document by whatever name known, utilized for the purpose of offering and selling securities of the
Company to the public.

Real Property. Land, rights in land (including leasehold interests), and any buildings,
structures, improvements, furnishings, fixtures and equipment located on or used in connection with
land and rights or interests in land.

-5-

 

REIT. A corporation, trust, association or other legal entity (other than a real estate
syndication) that is engaged primarily in investing in equity interests in real estate (including
fee ownership and leasehold interests) or in loans secured by real estate or both in accordance
with Sections 856 through 860 of the Code.

Sale or Sales. Any transaction or series of transactions whereby: (A) the Company
or the Partnership directly or indirectly (except as described in other subsections of this
definition) sells, grants, transfers, conveys, or relinquishes its ownership of any Property or
portion thereof, including the lease of any Property consisting of a building only, and including
any event with respect to any Property which gives rise to a significant amount of insurance
proceeds or condemnation awards; (B) the Company or the Partnership directly or indirectly (except
as described in other subsections of this definition) sells, grants, transfers, conveys, or
relinquishes its ownership of all or substantially all of the interest of the Company or the
Partnership in any Joint Venture in which it is a co-venturer or partner; (C) any Joint Venture
directly or indirectly (except as described in other subsections of this definition) in which the
Company or the Partnership as a co-venturer or partner sells, grants, transfers, conveys, or
relinquishes its ownership of any Property or portion thereof, including any event with respect to
any Property which gives rise to insurance claims or condemnation awards; (D) the Company or the
Partnership directly or indirectly (except as described in other subsections of this definition)
sells, grants, conveys or relinquishes its interest in any Mortgage or portion thereof (including
with respect to any Mortgage, all repayments thereunder or in satisfaction thereof other than
regularly scheduled interest payments) and any event with respect to a Mortgage which gives rise to
a significant amount of insurance proceeds or similar awards; or (E) the Company or the Partnership
directly or indirectly (except as described in other subsections of this definition) sells, grants,
transfers, conveys, or relinquishes its ownership of any other Asset not previously described in
this definition or any portion thereof. Notwithstanding the foregoing, “Sale” or “Sales” shall not
include any transaction or series of transactions specified in clause (A) through (E) above in
which the proceeds of such transaction or series of transactions are reinvested in one or more
Assets within 180 days thereafter.

Securities Act. The Securities Act of 1933, as amended from time to time, or any successor
statute thereto. Reference to any provision of the Securities Act shall mean such provision as in
effect from time to time, as the same may be amended, and any successor provision thereto, as
interpreted by any applicable regulations as in effect from time to time.

Selling Commissions. Any and all commissions payable to underwriters, dealer managers or
other broker-dealers in connection with the sale of the Shares, including, without limitation,
commissions payable to Cole Capital Corporation.

Shares. Any Shares of the Company’s common stock, par value $.01 per share.

Soliciting Dealers. Broker-dealers who are members of the Financial Industry Regulatory
Authority, Inc., or that are exempt from broker-dealer registration, and who, in either case, have
executed participating broker or other agreements with the Dealer Manager to sell Shares.

Sponsor. Cole Holdings Corporation.

Stockholders. The record holders of the Shares as maintained in the books and records of
the Company or its transfer agent.

Stockholders’ 8.0% Return. As of any date, an aggregate amount equal to an 8.0%
cumulative, noncompounded, annual return on Invested Capital.

-6-

 

Subordinated Performance Fee. The fee payable to the Advisor under certain circumstances
as described in Section 3.01(c).

Termination Date. The date of termination of this Agreement.

2%/25% Guidelines. The requirement pursuant to the NASAA Guidelines that, in any four
consecutive fiscal quarters, total Operating Expenses not exceed the greater of 2% of Average
Invested Assets during such period or 25% of Net Income over the same period.

ARTICLE II

THE ADVISOR

2.01     Appointment. The Company hereby appoints the Advisor to serve as its advisor on the
terms and conditions set forth in this Agreement, and the Advisor hereby accepts such appointment.
By accepting such appointment, the Advisor acknowledges that it has contractual and fiduciary
responsibility to the Company and the Stockholders.

2.02     Duties of the Advisor. Subject to Section 2.07, the Advisor undertakes to use its
commercially reasonable best efforts to present to the Company potential investment opportunities
consistent with the investment objectives and policies of the Company as determined and adopted
from time to time by the Board. In performance of this undertaking, subject to the supervision of
the Board and consistent with the provisions of the Company’s most recent Prospectus for Shares,
Articles of Incorporation and Bylaws, the Advisor shall, either directly or by engaging a duly
qualified and licensed Affiliate of the Advisor or other duly qualified and licensed Person:

     (a) serve as the Company’s investment and financial advisor and provide research and economic
and statistical data in connection with the Assets and the Company’s investment policies;

     (b) provide the daily management of the Company and perform and supervise the various
administrative functions reasonably necessary for the management and operations of the Company;

     (c) provide oversight and management of all third party and affiliated property management and
leasing functions;

     (d) maintain and preserve the books and records of the Company, including stock books and
records reflecting a record of the Stockholders and their ownership of the Company’s Shares;

     (e) investigate, select, and, on behalf of the Company, engage and conduct business with such
Persons as the Advisor deems necessary to the proper performance of its obligations hereunder,
including but not limited to consultants, accountants, correspondents, lenders, technical advisors,
attorneys, brokers, underwriters, corporate fiduciaries, escrow agents, depositaries, custodians,
agents for collection, insurers, insurance agents, banks, builders, developers, property owners,
mortgagors, property management companies, transfer agents and any and all agents for any of the
foregoing, including Affiliates of the Advisor, and Persons acting in any other capacity deemed by
the Advisor necessary or desirable for the performance of any of the foregoing services, including
but not limited to entering into contracts in the name of the Company with any of the foregoing;

     (f) consult with, and provide information to, the officers and the Board and assist the Board
in the formulation and implementation of the Company’s financial policies, and, as necessary,
furnish the Board with advice and recommendations with respect to the making of investments
consistent with the
investment objectives and policies of the Company and in connection with any borrowings
proposed to be undertaken by the Company;

-7-

 

     (g) subject to the provisions of Sections 2.02(j) and 2.03 hereof, (i) locate, analyze and
select potential investments in Assets, (ii) structure and negotiate the terms and conditions of
transactions pursuant to which investment in Assets will be made; (iii) make investments in Assets
on behalf of the Company or the Partnership in compliance with the investment objectives and
policies of the Company; (iv) arrange, structure and negotiate financing and refinancing and make
other changes in the asset or capital structure of, and dispose of, reinvest the proceeds from the
sale of, or otherwise deal with the investments in, Assets; (v) enter into leases of Property and
service contracts for Assets; and (vi) review and analyze each Property’s operating and capital
budget; and, to the extent necessary, perform all other operational functions for the maintenance
and administration of such Assets, including the servicing of Mortgages;

     (h) provide the Board with periodic reports regarding prospective investments in Assets;

     (i) if a transaction requires approval by the Board, deliver to the Board all documents
required by them to properly evaluate the proposed transaction;

     (j) obtain the prior approval of a majority of the Independent Directors and a majority of the
Board not otherwise interested in any transaction with the Advisor or its Affiliates;

     (k) negotiate on behalf of the Company with banks or lenders for loans to be made to the
Company, negotiate on behalf of the Company with investment banking firms and broker-dealers, and
negotiate private sales of Shares and other securities of the Company or obtain loans for the
Company, as and when appropriate, but in no event in such a way so that the Advisor shall be acting
as broker-dealer or underwriter; and provided, further, that any fees and costs payable to third
parties incurred by the Advisor in connection with the foregoing shall be the responsibility of the
Company;

     (l) obtain reports (which may be prepared by or for the Advisor or its Affiliates), where
appropriate, concerning the value of investments or contemplated investments of the Company in
Assets;

     (m) from time to time, or at any time reasonably requested by the Board, make reports to the
Board of its performance of services to the Company under this Agreement;

     (n) provide the Company with, or assist the Company in arranging for, all necessary cash
management services;

     (o) deliver to or maintain on behalf of the Company copies of all appraisals obtained in
connection with the investments in Assets;

     (p) upon request of the Company, act, or obtain the services of others to act, as
attorney-in-fact or agent of the Company in making, requiring and disposing of Assets, disbursing,
and collecting the funds, paying the debts and fulfilling the obligations of the Company and
handling, prosecuting and settling any claims of the Company, including foreclosing and otherwise
enforcing mortgage and other liens and security interests comprising any of the Assets;

     (q) arrange for the disposal of Properties on the Company’s behalf in compliance with the
Company’s investment objectives and policies as stated in the Company’s most recent Prospectus for
Shares and advise the Board in connection with liquidity opportunities;

-8-

 

     (r) supervise the preparation and filing and distribution of returns and reports to
governmental agencies and to Stockholders and other investors and act on behalf of the Company in
connection with investor relations;

     (s) oversee recruitment and hiring of personnel who will have direct responsibility for
the operations of each property we acquire, which may include, but is not limited to, on-site
managers and building and maintenance personnel, and direct and establish policies for such personnel;

     (t) provide office space, equipment and supplies as required for the performance of the
foregoing services as Advisor;

     (u) assist the Company in preparing all reports and returns required by the Securities and
Exchange Commission, Internal Revenue Service and other state or federal governmental agencies;

     (v) advise the Board on the timing and method of providing liquidity opportunities to
Stockholders; and

     (w) do all things necessary to assure its ability to render the services described in this
Agreement.

2.03     Authority of Advisor. Pursuant to the terms of this Agreement Including the duties
set forth in Section 2.02 and the restrictions included in this Section 2.03 and in Section 2.06,
and subject to the continuing and exclusive authority of the Board over the management of the
Company, the Board hereby delegates to the Advisor the authority to (i) find and evaluate
investment opportunities for the Company and the Partnership consistent with the Company’s
investment objectives, (ii) structure the terms and conditions of transactions pursuant to which
investments will be made or acquired for the Company or the Partnership, (iii) acquire Properties,
make and acquire Mortgages and other loans and invest in other Assets in compliance with the
investment objectives and policies of the Company, (iv) arrange for financing and refinancing of
Assets, (v) enter into leases for the Properties and service contracts for the Assets with duly
qualified and licensed non-affiliated and Affiliated Persons, including oversight of non-affiliated
and Affiliated Persons that perform property management, acquisition, advisory, disposition or
other services for the Company, and (vi) arrange for, or provide, accounting and other
record-keeping functions at the Asset level.

     The Board may, at any time upon the giving of notice to the Advisor, modify or revoke the
authority set forth in this Section 2.03, provided however, that such modification or revocation
shall be effective upon receipt by the Advisor or such later date as is specified by the Board and
included in the notice provided to the Company and such modification or revocation shall not be
applicable to investment transactions to which the Advisor has committed the Company prior to the
date of receipt by the Advisor of such notification, or, if later, the effective date of such
modification or revocation specified by the Board.

2.04     Bank Accounts. The Advisor may establish and maintain one or more bank accounts in
the name of the Company and may collect and deposit into any such account or accounts, and disburse
from any such account or accounts, any money on behalf of the Company, under such terms and
conditions as the Board may approve, provided that no funds of the Company or the Partnership shall
be commingled with the funds of the Advisor; and the Advisor shall from time to time, upon request
by the Board, its Audit Committee or the auditors of the Company, render appropriate accountings of
such collections and payments to the Board, its Audit Committee and the auditors of the Company.

-9-

 

2.05     Records; Access. The Advisor shall maintain appropriate records of all its activities
hereunder and make such records available for inspection by the Board and by counsel, auditors and
authorized agents of the Company, at any time or from time to time, upon reasonable request, during
normal business hours. The Advisor shall at all reasonable times have access to the books and
records of the Company.

2.06     Limitations on Activities. Anything else in this Agreement to the contrary
notwithstanding, the Advisor shall refrain from taking any action which, in its sole judgment made
in good faith, would (a) adversely affect the status of the Company as a REIT, (b) subject the
Company to regulation under the Investment Company Act of 1940, as amended, (c) violate any law,
rule, regulation or statement of policy of any governmental body or agency having jurisdiction over
the Company, the Shares or its other securities, or (d) not be permitted by the Articles of
Incorporation or Bylaws, except if such action shall be ordered by the Board, in which case the
Advisor shall notify promptly the Board of the Advisor’s judgment of the potential impact of such
action and shall refrain from taking such action until it receives further clarification or
instructions from the Board. In such event the Advisor shall have no liability for acting in
accordance with the specific instructions of the Board so given. Notwithstanding the foregoing,
the Advisor, its directors, officers, employees and stockholders, and the directors, officers,
employees and stockholders of the Advisor’s Affiliates shall not be liable to the Company or to the
Board or Stockholders for any act or omission by the Advisor, its directors, officers, employees or
stockholders, or for any act or omission of any Affiliate of the Advisor, its directors, officers,
employees or stockholders, except as provided in Section 5.02 of this Agreement.

2.07     Other Activities of the Advisor. Nothing herein contained shall prevent the Advisor
or its Affiliates from engaging in other activities, including, without limitation, the rendering
of advice to other Persons (including other REITs) and the management of other programs advised,
sponsored or organized by the Advisor or its Affiliates; nor shall this Agreement limit or restrict
the right of any director, officer, employee, or stockholder of the Advisor or its Affiliates to
engage in any other business or to render services of any kind to any other Person. The Advisor
may, with respect to any investment in which the Company is a participant, also render advice and
service to each and every other participant therein. The Advisor shall report to the Board the
existence of any condition or circumstance, existing or anticipated, of which it has knowledge,
which creates or could create a conflict of interest between the Advisor’s obligations to the
Company and its obligations to or its interest in any other Person. The Advisor or its Affiliates
shall promptly disclose to the Board knowledge of such condition or circumstance. If the Sponsor, Advisor, any Director or Affiliates
thereof have sponsored other investment programs with similar investment objectives which have
investment funds available at the same time as the Company, it shall be the duty of the Board
(including the Independent Directors) to adopt the method set forth in the Company’s most recent
Prospectus for its Shares or another reasonable method by which investments are to be allocated to
the competing investment entities and to use their best efforts to apply such method fairly to the
Company.

-10-

 

ARTICLE III

COMPENSATION

3.01     Fees.

     (a) Advisory Fee. On the last day of each month, the Company shall pay to the Advisor
a monthly Advisory Fee based upon the monthly Average Invested Assets. The Advisory Fee shall be
calculated according to the following schedule:

	 	 	 	 	 
	Average Invested Assets	 	Annualized Fee Rate
	$0 — $2 billion

	 	 	0.80	%
	Over $2 billion — $4 billion

	 	 	0.775	%
	Over $4 billion

	 	 	0.75	%

The Advisory Fee shall be applied according to the above schedule for each level of monthly Average
Invested Assets, resulting in a blended annualized rate for fees paid in respect of Average
Invested Assets in excess of $2 billion. For example, the annualized rate for fees paid in respect
of Average Invested Assets of $5 billion is 0.78%.

     (b) Acquisition Fees. The Company shall pay the Advisor, or an Affiliate of the
Advisor, a fee in the amount of 2.0% of the Contract Purchase Price of each Asset as Acquisition
Fees. The total of all Acquisition Fees and any Acquisition Expenses shall be limited in
accordance with the Articles of Incorporation. Acquisition Fees shall be paid as follows: (1) for
real property (including properties where development/redevelopment is expected), at the time of
acquisition, (2) for development/redevelopment projects (other than the initial acquisition of the
real property), at the time a final budget is approved, and (3) for loans and similar assets
(including without limitation mezzanine loans), quarterly based on the value of loans made or
acquired. In the case of a development/redevelopment project subject to clause (2) above, upon
completion of the development/redevelopment project, the Advisor shall determine the actual amounts
paid. To the extent the amounts actually paid vary from the budgeted amounts on which the
Acquisition Fee was initially based, the Advisor will pay or invoice the Company for 2.0% of the
budget variance such that the Acquisition Fee is ultimately 2.0% of amounts expended on such
development/redevelopment project. Any portion of the Acquisition Fee may be deferred and paid in
a subsequent year upon the mutual agreement of the parties hereto.

     (c) Subordinated Performance Fee. The Company shall pay the Advisor a Subordinated
Performance Fee in connection with any one of the following events:

     Upon Listing, the Advisor shall be entitled to the Subordinated Performance Fee in an
amount equal to 15.0% of the amount by which (i) the Market Value of the Company’s
outstanding Shares plus distributions paid by the Company prior to Listing, exceeds (ii) the
sum of (A) 100% of Invested Capital and (B) the total Distributions required to be paid to
the Stockholders in order to pay the Stockholders’ 8.0% Return from inception through the
date that Market Value is determined. The Company shall have the option to pay such fee in
the form of cash, Shares, a non-interest bearing promissory note, or any combination of the
foregoing. If the Company pays such fee with a non-interest bearing promissory note,
payment in full shall be made from the Net Sales Proceeds of the first Sale completed by the
Company after Listing. If the Net Sales Proceeds from the first Sale after Listing are
insufficient to pay the promissory note

-11-

 

in full, then the promissory note shall be paid in part with such Net Sales Proceeds,
and in part from the Net Sales Proceeds from the next successive Sales until the amount
owing pursuant to such promissory note is paid in full. If the promissory note has not been
paid in full within five years from the date of Listing, then the Advisor, or its successors
or assigns, may elect to convert the unpaid balance into Shares at a price per Share equal
to the average closing price of the Shares over the ten trading days immediately preceding
the date of such election. If the Shares are no longer Listed at such time as the
promissory note becomes convertible into Shares as provided by this paragraph, then the
price per Share, for purposes of conversion, shall equal the fair market value for the
Shares as determined by the Board based upon the Appraised Value of the Assets as of the
date of election.

     Upon a Sale, the Advisor shall be entitled to the Subordinated Performance Fee in an
amount equal to 15.0% of Net Sale Proceeds remaining after the Stockholders have received
Distributions equal to the sum of the Stockholders’ 8.0% Return and 100% of Invested
Capital. The Company shall have the option to pay such fee in the form of cash, Shares, a
non-interest bearing promissory note, or any combination of the foregoing.

     Upon termination, unless such termination is by the Company because of a material
breach of this Agreement by the Advisor or occurs upon a Change of Control, the Advisor
shall be entitled to receive a payment of the Subordinated Performance Fee equal to 15.0% of
the amount, if any, by which (i) the Appraised Value of the Assets, valued on a portfolio
basis, on the Termination Date, less the amount of all indebtedness secured by the Assets,
plus the total Distributions paid to Stockholders from the Company’s inception through the
Termination Date, exceeds (ii) Invested Capital plus an amount equal to the Stockholders’
8.0% Return from inception through the Termination Date. The Company shall pay such
Subordinated Performance Fee at such time as the Company completes the first Sale after the
Termination Date. Payment shall be made from the Net Sales Proceeds of such Sale. The
Company shall have the option to pay such fee in the form of cash, Shares, a non-interest
bearing promissory note, or any combination of the foregoing. If the Net Sales Proceeds
from the first Sale after the Termination Date are insufficient to pay the Subordinated
Performance Fee in full, then the Subordinated Performance Fee shall be paid in part with
such Net Sales Proceeds, and in part from the Net Sales Proceeds from the next successive
Sales until the Subordinated Performance Fee is paid in full. If the Subordinated
Performance Fee has not been paid in full within five years from the Termination Date, then
the Advisor, its successors or assigns, may elect to convert the balance of the fee into
Shares at a price per Share equal to the average closing price of the Shares over the ten
trading days immediately preceding the date of such election if the Shares are Listed at
such time. If the Shares are not Listed at such time, the Advisor, its successors or
assigns, may elect to convert the balance of the fee into Shares at a price per Share equal
to the fair market value for the Shares as reasonably determined by the Board.

     Notwithstanding the foregoing, if termination occurs upon a Change of Control, the
Advisor shall be entitled to payment of the Subordinated Performance Fee equal to 15.0% of
the amount, if any, by which (i) the value of the Assets on the Termination Date as
determined in good faith by the Board, including a majority of the Independent Directors,
based upon such factors as the consideration paid in connection with the Change of Control
and the most recent Appraised Value of the Assets, valued on a portfolio basis, less the
amount of all indebtedness secured by the Assets, plus the total Distributions paid to
Stockholders from the Company’s inception through the Termination Date, exceeds (ii)
Invested Capital plus an amount equal to the Stockholders’ 8.0% Return from inception
through the Termination Date. No deferral of payment of the Subordinated Performance Fee
may be made under this paragraph of this Section 3.01(c). In the event that the Advisor
disagrees with the valuation of Shares pursuant to the

-12-

 

immediately preceding paragraph of this Section 3.01(c) where the Shares are not Listed
for purposes of determining the number of Shares to be issued to the Advisor following the
Advisor’s election to convert the balance of the Subordinated Performance Fee owed to the
Advisor, then the fair market value of such Shares shall be determined by an Independent
Expert of equity value selected by the Advisor.

3.02     Expenses.

          (a) In addition to the compensation paid to the Advisor pursuant to Section 3.01 hereof, the
Company shall pay directly or reimburse the Advisor, as applicable, for all of the expenses paid or
incurred by the Advisor in connection with the services it provides to the Company pursuant to this
Agreement, including, but not limited to:

(i) Organization and Offering Expenses; provided, however, that within 60 days after
the end of the month in which an Offering terminates, the Advisor shall reimburse
the Company for any Organization and Offering Expenses reimbursed by the Company to
the Advisor to the extent that such reimbursements exceed 1.5% of the Gross Proceeds
raised in the completed Offering. The Advisor shall be responsible for the payment
of Organization and Offering Expenses in excess of 1.5% of the Gross Proceeds;

(ii) Acquisition Expenses incurred in connection with the selection and acquisition
of Assets in an amount estimated to be up to 0.5% of the Contract Purchase Price;

(iii) the actual cost of goods, services and materials used by the Company and
obtained from Persons not affiliated with the Advisor, other than Acquisition
Expenses, including property management and leasing services;

(iv) interest and other costs for borrowed money, including discounts, points and
other similar fees;

(v) taxes and assessments on income or property and taxes as an expense of doing
business;

(vi) costs associated with insurance required in connection with the business of the
Company or by the Board;

(vii) expenses of managing and operating Assets owned by the Company, whether
payable to an Affiliate of the Company, including wages and salaries and other personnel-related expenses, unless otherwise waived, in
whole or in part, by the Affiliate in its sole discretion, of all on-site and off-site employees of the Affiliate who are engaged in the operation, management, maintenance and leasing or access control of the Asset, or to a non-affiliated Person;

(viii) all expenses in connection with payments to the Board for attendance at
meetings of the Board and Stockholders;

(ix) expenses associated with Listing or with the issuance and distribution of
Shares and other securities of the Company, such as Selling Commissions and fees,
advertising expenses, taxes, legal and accounting fees, and Listing and registration
fees;

(x) expenses connected with payments of Distributions in cash or otherwise made or
caused to be made by the Company to the Stockholders;

(xi) expenses of organizing, reorganizing, liquidating or dissolving the Company or
amending the Articles of Incorporation or the Bylaws;

-13-

 

(xii) expenses of any third party transfer agent for the Shares and of maintaining
communications with Stockholders, including the cost of preparation, printing, and
mailing annual reports and other Stockholder reports, proxy statements and other
reports required by governmental entities;

(xiii) administrative service expenses, including all costs and expenses incurred by
Advisor in fulfilling its duties hereunder. Such costs and expenses may include
reasonable wages and salaries and other personnel-related expenses of all employees
of Advisor or its Affiliates who are engage in the management, administration,
operations, and marketing of the Company and its Assets, including taxes, insurance and benefits
relating to such employees, and legal, travel and other out-of-pocket expenses which
are directly related to their services provided hereunder, provided, however
that the Company shall not reimburse the Advisor for salaries and benefits paid to
persons who are executive officers of the Company, nor shall the Company pay
personnel costs in connection with services for which the Advisor receives an
Acquisition Fee; and

(xiv) audit, accounting and legal fees and other fees and expenses associated with regulatory compliance.

     (b) Expenses incurred by the Advisor on behalf of the Company and payable pursuant to this
Section 3.02 shall be reimbursed no less than quarterly to the Advisor within 60 days after the end
of each quarter. The Advisor shall prepare a statement documenting the expenses of the Company
during each quarter, and shall deliver such statement to the Company within 45 days after the end
of each quarter.

3.03     Other Services. Should the Board request that the Advisor or any director, officer or
employee thereof render services for the Company other than set forth in Section 2.02, such
services shall be separately compensated at such rates and in such amounts as are agreed by the
Advisor and the Board, subject to the limitations contained in the Articles of Incorporation, and
shall not be deemed to be services pursuant to the terms of this Agreement.

3.04     Reimbursement to the Advisor. The Company shall not reimburse the Advisor, at the end
of any fiscal quarter, for any Operating Expenses to the extent that, in the four consecutive
fiscal quarters then ended (the “Expense Year”) the Operating Expenses exceed (the “Excess Amount”)
the greater of (i) 2% of Average Invested Assets or (ii) 25% of Net Income (the “2%/25%
Guidelines”) for that period of four consecutive quarters unless the Independent Directors
determine that such excess was justified, based on unusual and nonrecurring factors which the
Independent Directors deem sufficient. If the Independent Directors do not approve such excess as
being so justified, any Excess Amount paid to the Advisor during a fiscal quarter shall be repaid
to the Company. If the Independent Directors determine such excess was justified, then within 60
days after the end of any fiscal quarter of the Company for which total reimbursed Operating
Expenses for the Expense Year exceed the 2%/25% Guidelines, the Advisor, at the direction of the
Independent Directors, shall cause such fact to be disclosed in the next quarterly report of the
Company or in a separate writing and sent to the stockholders, together with an explanation of the
factors the Independent Directors considered in determining that such excess expenses were
justified. The Company will ensure that such determination will be reflected in the minutes of the
meetings of the Board. All figures used in the foregoing computation shall be determined in
accordance with generally accepted accounting principles applied on a consistent basis.

-14-

 

ARTICLE IV

TERM AND TERMINATION

4.01     Term; Renewal. Subject to Section 4.02 hereof, this Agreement has a one-year term and
shall continue in force until the first anniversary of the date hereof. Thereafter, this Agreement
may be renewed for an unlimited number of successive one-year terms upon mutual consent of the
parties. It is the Board’s Duty to evaluate the performance of the Advisor annually before
renewing the Agreement, and each such renewal shall be for a term of no more than one year.

4.02     Termination. This Agreement will automatically terminate upon Listing. This
Agreement also may be terminated at the option of either party (i) immediately upon a Change of
Control or (ii) upon 60 days written notice without cause or penalty (in either case, if
termination is by the Company, then such termination shall be upon the approval of a majority of
the Independent Directors). Notwithstanding the foregoing, the provisions of this Agreement which
provide for payment to the Advisor of expenses, fees or other compensation following the date of
termination (i.e., Sections 3.01(c) and 4.03) shall continue in full force and effect until all
amounts payable thereunder to the Advisor are paid in full. The provisions of Sections 2.05, 2.06
and 4.03 through 6.11 shall survive the termination of this Agreement.

4.03     Payments to and Duties of Advisor upon Termination.

     (a) After the Termination Date, the Advisor shall not be entitled to compensation for further
services hereunder except it shall be entitled to and receive from the Company within 30 days after
the effective date of such termination all unpaid reimbursements of expenses, subject to the
provisions of Section 3.04 hereof, and all contingent liabilities related to fees payable to the
Advisor prior to termination of this Agreement, provided that the Subordinated Performance Fee, if
any, shall be paid in accordance with the provisions of Section 3.01(c).

     (b) The Advisor shall promptly upon termination:

(i) pay over to the Company all money collected and held for the account of the
Company pursuant to this Agreement, after deducting any accrued compensation and
reimbursement for its expenses to which it is then entitled;

(ii) deliver to the Board a full accounting, including a statement showing all
payments collected by it and a statement of all money held by it, covering the
period following the date of the last accounting furnished to the Board;

(iii) deliver to the Board all assets, including the Assets, and documents of the
Company then in the custody of the Advisor; and

(iv) cooperate with, and take all reasonable actions requested by, the Company to
provide an orderly management transition.

ARTICLE V

INDEMNIFICATION

5.01     (a) The Company shall indemnify and hold harmless the Advisor and its Affiliates, including
their respective officers, directors, partners and employees, from all liability, claims, damages
or losses arising in the performance of their duties hereunder, and related expenses, including
reasonable attorneys’

-15-

 

fees, to the extent such liability, claims, damages or losses and related expenses are not fully
reimbursed by insurance, subject to any limitations imposed by the laws of the State of Maryland,
the Articles of Incorporation and the NASAA Guidelines under the Articles of Incorporation. The
Company shall not indemnify or hold harmless the Advisor or its Affiliates, including their
respective officers, directors, partners and employees, for any liability or loss suffered by the
Advisor or its Affiliates, including their respective officers, directors, partners and employees,
nor shall it provide that the Advisor or its Affiliates, including their respective officers,
directors, partners and employees, be held harmless for any loss or liability suffered by the
Company, unless all of the following conditions are met: (i) the Advisor or its Affiliates,
including their respective officers, directors, partners and employees, have determined, in good
faith, that the course of conduct which caused the loss or liability was in the best interests of
the Company; (ii) the Advisor or its Affiliates, including their respective officers, directors,
partners and employees, were acting on behalf of or performing services of the Company; (iii) such
liability or loss was not the result of negligence or misconduct by the Advisor or its Affiliates,
including their respective officers, directors, partners and employees; and (iv) such
indemnification or agreement to hold harmless is recoverable only out of the Company’s net assets
and not from Stockholders. Notwithstanding the foregoing, the Advisor and its Affiliates,
including their respective officers, directors, partners and employees, shall not be indemnified by
the Company for any losses, liability or expenses arising from or out of an alleged violation of
federal or state securities laws by such party unless one or more of the following conditions are
met: (i) there has been a successful adjudication on the merits of each count involving alleged
securities law violations as to the particular indemnitee; (ii) such claims have been dismissed
with prejudice on the merits by a court of competent jurisdiction as to the particular indemnitee;
and (iii) a court of competent jurisdiction approves a settlement of the claims against a
particular indemnitee and finds that indemnification of the settlement and the related costs should
be made, and the court considering the request for indemnification has been advised of the position
of the Securities and Exchange Commission and of the published position of any state securities
regulatory authority in which securities of the Company were offered or sold as to indemnification
for violations of securities laws.

     (b) The Articles of Incorporation provide that the advancement of Company funds to the Advisor
or its Affiliates, including their respective officers, directors, partners and employees, for
legal expenses and other costs incurred as a result of any legal action for which indemnification
is being sought is permissible only if all of the following conditions are satisfied: (i) the legal
action relates to acts or omissions with respect to the performance of duties or services on behalf
of the Company; (ii) the legal action is initiated by a third-party who is not a Stockholder or the
legal action is initiated by a Stockholder acting in his or her capacity as such and a court of
competent jurisdiction specifically approves such advancement; (iii) the Advisor or its Affiliates,
including their respective officers, directors, partners and employees, undertake to repay the
advanced funds to the Company together with the applicable legal rate of interest thereon, in cases
in which such Advisor or its Affiliates, including their respective officers, directors, partners
and employees, are found not to be entitled to indemnification.

     (c) Notwithstanding the provisions of this Section 5.01, the Advisor shall not be entitled to
indemnification or be held harmless pursuant to this Section 5.01 for any activity which the
Advisor shall be required to indemnify or hold harmless the Company pursuant to Section 5.02.

5.02     Indemnification by Advisor. The Advisor shall indemnify and hold harmless the Company
from contract or other liability, claims, damages, taxes or losses and related expenses including
attorneys’ fees, to the extent that (i) such liability, claims, damages, taxes or losses and
related expenses are not fully reimbursed by insurance and (ii) are incurred by reason of the
Advisor’s bad faith, fraud, misfeasance, misconduct, negligence or reckless disregard of its
duties. The Advisor shall not be held responsible for any action of the Board in following or
declining to follow any advice or recommendation given by the Advisor.

-16-

 

ARTICLE VI

MISCELLANEOUS

6.01     Assignment to an Affiliate. This Agreement may be assigned by the Advisor to an
Affiliate of the Advisor with the approval of a majority of the Board (including a majority of the
Independent Directors). The Advisor may assign any rights to receive fees or other payments under
this Agreement without obtaining the approval of the Board. This Agreement shall not be assigned
by the Company without the consent of the Advisor, except in the case of an assignment by the
Company to a corporation or other organization which is a successor to all of the assets, rights
and obligations of the Company, in which case such successor organization shall be bound hereunder
and by the terms of said assignment in the same manner as the Company is bound by this Agreement.
This Agreement shall be binding on successors to the Company resulting from a Change of Control or
sale of all or substantially all the assets of the Company or the Partnership, and shall likewise
be binding upon any successor to the Advisor.

6.02     Relationship of Advisor and Company. The Company and the Advisor are not partners or
joint venturers with each other, and nothing in this Agreement shall be construed to make them such
partners or joint venturers or impose any liability as such on either of them.

6.03     Notices. Any notice, report or other communication required or permitted to be given
hereunder shall be in writing unless some other method of giving such notice, report or other
communication is required by the Articles of Incorporation, the Bylaws, or accepted by the party to
whom it is given, and shall be given by being delivered by hand or by overnight mail or other
overnight delivery service to the addresses set forth herein:

	 	 	 
	To the Directors and to the Company:

	 	Cole Corporate Income Trust, Inc.
	 

	 	2555 E. Camelback Road, Suite 400
	 

	 	Phoenix, Arizona 85016
	 

	 	Attention: Chief Executive Officer and President
	 
	 	 
	To the Advisor:

	 	Cole Corporate Income Advisors, LLC
	 

	 	2555 E. Camelback Road, Suite 400
	 

	 	Phoenix, Arizona 85016
	 

	 	Attention: President

Either party shall, as soon as reasonably practicable, give notice in writing to the other party of
a change in its address for the purposes of this Section 6.03.

6.04     Modification. This Agreement shall not be changed, modified, or amended, in whole or
in part, except by an instrument in writing signed by both parties hereto, or their respective
successors or assignees.

6.05     Severability. The provisions of this Agreement are independent of and severable from
each other, and no provision shall be affected or rendered invalid or unenforceable by virtue of
the fact that for any reason any other or others of them may be invalid or unenforceable in whole
or in part.

6.06     Choice of Law; Venue. The provisions of this Agreement shall be construed and
interpreted in accordance with the laws of the State of Arizona, and venue for any action brought
with respect to any claims arising out of this Agreement shall be brought exclusively in Maricopa
County, Arizona.

-17-

 

6.07     Entire Agreement. This Agreement contains the entire agreement and understanding
among the parties hereto with respect to the subject matter hereof, and supersedes all prior and
contemporaneous agreements, understandings, inducements and conditions, express or implied, oral or
written, of any nature whatsoever with respect to the subject matter hereof. The express terms
hereof control and supersede any course of performance and/or usage of the trade inconsistent with
any of the terms hereof. This Agreement may not be modified or amended other than by an agreement
in writing signed by each of the parties hereto.

6.08     Waiver. Neither the failure nor any delay on the part of a party to exercise any
right, remedy, power or privilege under this Agreement shall operate as a waiver thereof, nor shall
any single or partial exercise of any right, remedy, power or privilege preclude any other or
further exercise of the same or of any other right, remedy, power or privilege, nor shall any
waiver of any right, remedy, power or privilege with respect to any occurrence be construed as a
waiver of such right, remedy, power or privilege with respect to any other occurrence. No waiver
shall be effective unless it is in writing and is signed by the party asserted to have granted such
waiver.

6.09     Gender; Number. Words used herein regardless of the number and gender specifically
used, shall be deemed and construed to include any other number, singular or plural, and any other
gender, masculine, feminine or neuter, as the context requires.

6.10     Headings. The titles and headings of sections and subsections contained in this
Agreement are for convenience only, and they neither form a part of this Agreement nor are they to
be used in the construction or interpretation hereof.

6.11     Execution in Counterparts. This Agreement may be executed in any number of
counterparts, each of which shall be deemed to be an original as against any party whose signature
appears thereon, and all of which shall together constitute one and the same instrument. This
Agreement shall become binding when the counterparts hereof, individually or taken together, shall
bear the signatures of all of the parties reflected hereon as the signatories.

6.12     Initial Investment. The Advisor or one of its Affiliates has contributed $200,000 (the
“Initial Investment”) in exchange for the initial issuance of Shares of the Company. The Advisor
or its Affiliates may not sell any of the Shares purchased with the Initial Investment while the
Advisor acts in an advisory capacity to the Company. The restrictions included above shall not
apply to any Shares acquired by the Advisor or its Affiliates other than the Shares acquired
through the Initial Investment. Neither the Advisor nor its Affiliates shall vote any Shares they
now own, or hereafter acquires, in any vote for the election of Directors or any vote regarding the
approval or termination of any contract with the Advisor or any of its Affiliates.

[THE REMAINDER OF THIS PAGE HAS BEEN INTENTIONALLY LEFT BLANK]

-18-

 

     IN WITNESS WHEREOF, the parties hereto have executed this Amended and Restated Advisory
Agreement as of the date and year first above written.

	 	 	 	 	 
	 	COLE CORPORATE INCOME TRUST, INC. 

 	 
	 	By:  	 	 
	 	 	Christopher H. Cole                                                              	 
	 	 	Chief Executive Officer and President 	 
	 

	 	 	 	 	 
	 	COLE CORPORATE INCOME ADVISORS, LLC 

 	 
	 	By:  	 	 
	 	 	Marc T. Nemer                                                                    	 
	 	 	President 	 
	 

-19-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00179-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00179-of-00352.parquet"}]]