Document:

Exhibit 10.1

EXECUTION

 

EXECUTIVE EMPLOYMENT AGREEMENT

This EXECUTIVE
EMPLOYMENT AGREEMENT (this “Agreement”) is made as of November 3, 2014 (the “Effective Date”),
by and between Global Eagle Entertainment Inc., a Delaware corporation (the “Company”), and Michael Zemetra
(the “Executive”). The Company and the Executive are sometimes hereinafter referred to individually as a “Party”
and together as “Parties.”

 

WHEREAS, the
Executive previously entered into an Employment Offer Letter Agreement with the Company, dated May 22, 2013 (the “Original
Employment Agreement”);

 

WHEREAS, the Company
and Executive now wish to replace the Original Employment Agreement with this new Agreement as of the Effective Date;

 

WHEREAS, Executive
has substantial business knowledge and expertise and the Company desires to retain the knowledge, expertise and experience of the
Executive to assist in the operations and management of the Company;

 

WHEREAS, the
Executive acknowledges that the Company expends substantial resources establishing long term relationships with its customers,
clients and suppliers and the Executive will from time to time during the course of his employment be exposed to such customers,
clients and suppliers and prospective customers, clients and suppliers; and

 

WHEREAS, all
of the foregoing recitals are incorporated into the covenants of this Agreement as if set forth herein at length.

 

NOW THEREFORE,
in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the Parties hereto, intending to be legally bound, agree as follows:

 

1.            Employment.
The Company will employ the Executive, and the Executive hereby accepts employment with the Company, upon the terms and conditions
set forth in this Agreement, on an “at will” basis, which means that either the Company or Executive may terminate
the Executive’s employment with the Company at any time and for any or no reason. The period commencing with the Effective
Date and ending on the effective date of any termination of employment hereunder is referred to herein as the “Employment
Period.”

 

2.            Position
and Duties.

 

(a)          During
the Employment Period, the Executive will serve as the Chief Financial Officer and Treasurer of the Company and will have the normal
duties, responsibilities and authority of this office, including, FP&A, treasury management, accounting, tax, compliance and
financial systems management, all subject to the power of the Board (as defined in Section 9 below) to expand such duties,
responsibilities and authority, including without limitation appointing the Executive as an officer of one or more Subsidiaries.

 

    	 

    	 

    

 

(b)          During
the Employment Period, the Executive will report to the Chief Executive Officer of the Company and devote his best efforts and
his full business time and attention (except for permitted vacation periods and reasonable periods of illness or other incapacity)
to the business and affairs of the Company and its Subsidiaries, and to the performance of such duties as may be assigned to him
from time to time by the Company. The Executive will act in the best interest of the Company and its Subsidiaries and, except as
may be specifically permitted by the Board, will not engage in any other business activity. The Executive will perform his
duties, responsibilities and functions on behalf of the Company and its Subsidiaries hereunder to the best of his abilities in
a diligent, trustworthy, businesslike and efficient manner.

 

(c)          The
Executive acknowledges and agrees that Section 2(a) of this Agreement does not constitute a contractual restriction on the Board’s
ability to alter the duties and responsibilities of Executive so long as such altered duties are generally consistent with the
duties of a Chief Financial Officer.

 

3.            Compensation.

 

(a)          During
the Employment Period, the Executive’s base salary will be $350,000.00 per annum (as adjusted from time to time, the “Base
Salary”). The Executive’s Base Salary will be paid by the Company in regular installments in accordance with the
Company’s general payroll practices and will be reviewed in January 2016 and each calendar year thereafter and may be adjusted
upward in the sole discretion of the Board. Unless the compensation committee of the Board specifically delineates otherwise, any
increase in base salary pursuant to this section shall be retroactive to the beginning of the applicable calendar year.

 

(b)          In
addition to the Base Salary, during the Employment Period, the Executive shall be entitled, upon achieving individual and Company
performance goals to be determined by the Board in its sole discretion, to an annual bonus in an amount determined by the Board
in its sole discretion. Executive’s target bonus for each year shall be no less than 50% of Executive’s Base Salary,
but the bonus may be, in the discretion of the Board, increased to up to 100%. Beginning for calendar year 2015, the Chief Executive
Officer and Executive shall mutually determine the performance criteria for the foregoing bonus for each fiscal year within the
first 30 days of such year. Such bonus, if any, shall be paid to the Executive by March 15th of the year following the year in
which the bonus was earned. The Company reserves the right, but is not required, to adopt a bonus plan, pursuant to the terms
of which the above bonus is provided, including a bonus plan that is intended to award performance-based compensation that is exempt
from the deduction limit under Section 162(m) of the Internal Revenue Code.

 

(c)          Executive
acknowledges he was previously granted (i) 275,000 options to purchase shares of common stock of the Company and (ii) up to 4,722
restricted stock units for issuance of shares of common stock of the Company. In connection with the entry into this Agreement
and subject to the terms and conditions of equity incentive agreements included in the Plan (as defined below), between the Company
and the Executive, the Company shall grant to the Executive options, pursuant to the Company’s 2013 Equity Incentive Plan
(the “Plan”), to purchase an aggregate of 75,000 shares of common stock of the Company, par value $0.0001 per
share. Such options shall vest as follows: (i) 25% on the first anniversary of the date of grant and (ii) 75% ratably over the
subsequent three years on a monthly basis until fully vested.

 

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(d)          The
Company may withhold from all salary, bonus or other benefits payable under this Agreement all federal, state, city or other taxes
as shall be required pursuant to any law or governmental regulation or ruling.

 

4.            Benefits.
In addition to the Base Salary and other compensation provided for in Section 3 above, the Executive will be entitled to
the following benefits during the Employment Period:

 

(a)          The
Executive will be entitled to participate in the Company’s paid-time-off policy for which other executive level employees
of the Company are generally eligible, subject to any eligibility requirements of such plans and programs.

 

(b)          The
Executive will be entitled to participate in the Company’s health and welfare benefit programs for which other executive
level employees of the Company are generally eligible, subject to any eligibility requirements of such plans and programs.

 

(c)          The
Company will reimburse the Executive for all reasonable expenses incurred by him in the course of performing his duties and responsibilities
under this Agreement which are consistent with the Company’s policies in effect from time to time with respect to travel,
entertainment and other business expenses, subject to the Company’s requirements with respect to reporting and documentation
of such expenses.

 

(d)          The
Company will reimburse the Executive for all reasonable commuting and temporary residence/hotel costs for business purposes, subject
to the Company’s requirements with respect to reporting and documentation of such expenses.

 

5.            Termination.

 

(a)          The
Executive’s employment with the Company and the Employment Period will end on the earlier of (i) the Executive’s death
or mental or physical disability (considering reasonable accommodation) or incapacity (as determined by a physician selected by
the Company in its good faith judgment) for one hundred eighty (180) consecutive days or one hundred eighty (180) days out of any
three hundred sixty (360) day period, (ii) the Executive’s resignation or (ii) termination by the Company at any time
with or without Cause (as defined below). Except as otherwise provided herein, any termination of the Employment Period by the
Company or by the Executive will be effective as specified in a written notice from the terminating Party to the other Party.

 

(b)          If,
during the Employment Period, the Executive’s employment with the Company is terminated pursuant to Section 5(a)(i)
above, or is terminated by the Company with Cause, or if the Executive resigns for any reason other than Good Reason (as defined
below), then the Executive will only be entitled to receive his Base Salary through the date of termination and will not be entitled
to any other salary, bonus, severance, compensation or benefits from the Company or any of its Subsidiaries or affiliates thereafter,
other than those expressly required under applicable law or by the express terms of any company policies or applicable programs
(such as the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”)).

 

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(c)          If
(i) the Executive’s employment with the Company is terminated by the Company without Cause or by the Executive with
Good Reason, during the Employment Period, and, in either case, (ii) within twenty-one (21) days of his termination the
Executive executes a general release and non-competition agreement in
favor of the Company, its Subsidiaries and their affiliates in the form of Exhibit A hereto and such release becomes
effective and is not revoked, and (iii) the Executive complies with the terms of this Agreement, the Executive will be
entitled to receive (a) the continuation of health and welfare benefits for a period equal to one (1) year after
the date of termination plus an amount in cash equal to one hundred percent (100%) of Executive’s then-current
base salary, (b) any unpaid annual bonus pursuant to Section 3(b) to which the Executive would have become entitled for any
fiscal year of the Company that ends on or before the date of termination had the Executive remained employed through the
payment date, payable in the form and at the time bonuses are paid to the Company's senior executives generally for such
calendar year, but in no event later than March 15th of the calendar year immediately following the calendar year in which
the date of Termination occurs, with the actual date within such period determined by the Company in its sole discretion and
(c) a period of twelve (12) months following the Executive’s last day of
employment with the Company to exercise all vested equity incentive awards (unless the period provided for under the
applicable plan for the particular award would provide for a longer period of exercise following termination of employment in
similar circumstances). The severance payment payable to the
Executive pursuant to this clause (c) of this Section 5 will be paid in one lump sum and in the manner set forth in Section
3 hereof. Notwithstanding the foregoing, for so long as the Company is a “public company” within the meaning
of Internal Revenue Code Section 409A, any amounts payable to the Executive during the first six (6) months and one
(1) day following the date of termination pursuant to this Section 5(c) will be deferred until the date which is
six (6) months and one (1) day following such termination, and if such payments are required to be so deferred the first
payment will be in an amount equal to the total amount to which the Executive would otherwise have been entitled during the
period following the date of termination of employment if deferral had not been required.

 

(d)          If
(i) at any time during the term of this Agreement there is a Change of Control (as defined in the Plan) and within one (1) year
of such Change of Control, the Executive elects to terminate this Agreement for Good Reason or the Company elects to terminate
this Agreement for any reason other than Cause, (ii) within twenty-one (21) days of his termination the Executive executes
a general release and non-competition agreement in favor of the Company, its Subsidiaries and their affiliates in the form of
Exhibit A hereto and such release becomes effective and is not revoked, and (iii) the Executive complies with the terms of
this Agreement, the Executive shall be entitled to (w) receive the continuation of health and welfare benefits for a period equal
to one (1) year after the date
of termination, (x) an amount in cash equal to one hundred percent (100%) of Executive’s then-current base salary, (y) acceleration
of all of the Executive’s unvested awards pursuant to any equity incentive plan grant made prior to the Executive’s
last day of employment with the Company, and (z) a period of twelve (12) months following the Executive’s last day of employment
with the Company to exercise all vested equity incentive awards (unless the period provided for under the applicable plan for
the particular award would provide for a longer period of exercise following termination of employment in similar circumstances).
Notwithstanding Section 5(c) above, if the Executive receives the payments provided for in this Section
5(d), the Executive is not entitled to any payments pursuant to Section 5(c). The severance payment payable to the
Executive pursuant to this clause (d) of this Section 5 will be paid in one lump sum and in the manner set forth in Section
3 hereof.

 

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(e)          Except
as otherwise expressly provided herein, all of the Executive’s rights to salary, bonuses, fringe benefits, severance and
other compensation hereunder or under any policy or program of the Company which accrue or become payable on or after the termination
of the Employment Period will cease upon such termination other than those expressly required under applicable law or by the express
terms of any company policies or applicable programs (such as COBRA).

 

(f)          For
purposes of this Agreement, “Cause” will mean (i) the commission of a felony or other crime involving moral
turpitude or the commission of any other act or omission involving misappropriation, dishonesty, unethical business conduct, disloyalty,
fraud or breach of fiduciary duty, (ii) reporting to work under the influence of alcohol, (iii) the use of illegal drugs (whether
or not at the workplace) or other conduct, even if not in conjunction with his duties hereunder, which could reasonably be expected
to, or which does, cause the Company or any of its Subsidiaries material public disgrace, disrepute or economic harm, (iv) repeated
failure to perform duties as reasonably directed by the Board and/or the Company’s principal executive officer after written
notice, (v) gross negligence or willful misconduct with respect to the Company or affiliates or in the performance of the Executive’s
duties hereunder, (vi) obtaining any personal profit not thoroughly disclosed to and approved by the Board in connection with any
transaction entered into by, or on behalf of, the Company, its Subsidiaries or any of their affiliates, or (vii) materially violating
any of the terms of the Company’s, its Subsidiaries’ or any of their affiliates’ rules or policies which, if
curable, is not cured to the Board’s satisfaction within thirty (30) days after written notice thereof to the Executive,
or any other breach of this Agreement or any other agreement between the Executive and the Company or any of its Subsidiaries which,
if curable, is not cured to the Board’s satisfaction within thirty (30) days after written notice thereof to the Executive.
For purposes of this Agreement, “Good Reason” shall mean (i) the Executive is assigned duties materially inconsistent
with the Executive’s position as set forth in Section 2(a) and 2(b) of this Agreement, provided that any such assignment
of duties (x) shall only constitute “Good Reason” during the ninety (90) day period following the date of such assignment
(after which it shall be deemed waived by the Executive if prior thereto the Executive has not exercised his right to resign for
“Good Reason”), (y) shall not constitute “Good Reason” when it is an isolated action not taken in bad faith
and that is remedied promptly after written notice thereof by the Executive to the Company, and (z) shall not constitute “Good
Reason” if the Executive shall have consented to the performance thereof or (ii) any breach of a material term of this Agreement
by the Company, which breach is not cured within thirty (30) days following written notice to the Company of such breach, or (iii)
the Company requiring the Executive, without the Executive’s prior consent, to be permanently based at any office located
(i) more than thirty (30) miles from the Company’s California headquarters, except the Company’s Westlake Village office,
or (ii) more than fifty (50) miles from the Executives current Woodland Hills residence, excluding travel reasonably required in
the performance of the Executive’s duties hereunder and travel consistent with the Executive’s activities prior to
the Effective Date.

 

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6.            Confidentiality,
Proprietary Information and Investment Assignment Agreement. Concurrently with or prior to the execution of this Agreement,
the Executive shall have signed a Confidentiality, Proprietary Information and Invention Assignment Agreement in the form required
to be executed by each employee of the Company.

 

7.            Return
of Corporate Property. The Executive acknowledges and agrees that all notes, records, reports, sketches, plans, unpublished
memoranda or other documents, whether in paper, electronic or other form (and all copies thereof), held by the Executive concerning
any information relating to the business of the Company or any of its Subsidiaries, whether confidential or not, are the property
of the Company. The Executive will deliver to the Company at the termination or expiration of the Employment Period, or at any
other time the Company may request, all equipment, files, property, memoranda, notes, plans, records, reports, computer tapes,
printouts and software and other documents and data (and all electronic, paper or other copies thereof) belonging to the Company
or any of its Subsidiaries which includes, but is not limited to, any materials that contain, embody or relate to the confidential
information, work product or the business of the Company or any of its Subsidiaries, which he may then possess or have under his
control. The Executive will take any and all actions reasonably deemed necessary or appropriate by the Company from time to time
in its sole discretion to ensure the continued confidentiality and protection of the confidential information.

 

8.            Executive’s
Representations. The Executive hereby represents and warrants to the Company that (i) he has entered into this Agreement of
his own free will for no consideration other than as referred to herein, (ii) the execution, delivery and performance of this Agreement
by the Executive does not and will not conflict with, breach, violate or cause a default under any contract, agreement, instrument,
order, judgment or decree to which the Executive is a party or by which the Executive is bound, (iii) the Executive is not
a party to or bound by any employment, non-competition, confidentiality or other similar agreement with any other Person and (iv) upon
the execution and delivery of this Agreement by the Company, this Agreement will be the valid and binding obligation of the Executive,
enforceable in accordance with its terms. The Executive hereby acknowledges and represents that the Executive has had the opportunity
to consult with independent legal counsel regarding the Executive’s rights and obligations under this Agreement and that
the Executive fully understands the terms and conditions contained herein.

 

9.            Definitions.

 

“Board”
means the Board of Directors of the Company.

 

“Person”
means any natural person, corporation, general partnership, limited partnership, limited liability company or partnership, proprietorship,
other business organization, trust, union, association or governmental or regulatory entities, department, agency or authority.

 

“Subsidiaries”
means any corporation, limited liability company or other entity of which the securities or other ownership interests having the
voting power to elect a majority of the board of directors or other governing
body are, at the time of determination, owned by the Company or any corporation or
other entity of which the Company or one of their Subsidiaries serves as the managing member or in a similar capacity, in each
case either directly or through one of more Subsidiaries.

 

10.         Survival.
Sections 5 through 23 will survive and continue in full force in accordance with their terms notwithstanding the
termination of the Employment Period.

 

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11.         Notices.
Any notice provided for in this Agreement will be in writing and will be either personally delivered, sent by reputable overnight
courier service, sent by facsimile (with hard copy to follow by regular mail) or mailed by first class mail, return receipt requested,
to the recipient at the address below indicated:

 

Notices to the Executive:

 

Michael Zemetra

5246 Calatrana Drive

Woodland Hills, CA 91364

 

Notices to the Company:

Global Eagle Entertainment Inc.

4553 Glencoe Avenue, Suite 300

Marina Del Rey, CA 90292

Attention: LEGAL NOTICES/General
Counsel

 

with a copy (which shall
not constitute notice) to:

 

McDermott Will & Emery LLP

340 Madison Avenue

New York, New York 10173

Attn:      Joel L. Rubinstein 

Fax: (646) 390-1209

 

or such other address or to the attention
of such other person as the recipient Party will have specified by prior written notice to the sending Party. Any notice under
this Agreement will be deemed to have been given when so delivered, sent or mailed.

 

12.         Severability.
Whenever possible, each provision of this Agreement will be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable
law or rule in any jurisdiction, such invalidity, illegality or unenforceability will not affect any other provision or any action
in any other jurisdiction, but this Agreement will be reformed, construed and enforced in such jurisdiction as if such invalid,
illegal or unenforceable provision had never been contained herein.

 

13.         Complete
Agreement. This Agreement, and any agreement entered into between the Executive, on the one hand, and the Company or any of
its Subsidiaries, on the other hand, on the date hereof embodies the complete agreement and understanding among the Parties and
supersedes and preempts any prior understandings, agreements or representations by or among the Executive, on the one hand, and
the Company or any of its Subsidiaries, on the other hand, written or oral, with respect to Executive’s employment with the
Company; provided, that, the previously executed confidentiality and invention assignment agreement, any officer and director indemnification
agreement and all equity incentive award agreements granted to Executive shall remain in effect following the date hereof. Upon
the Effective Date, the Executive hereby releases and waives any claims or rights he may have under any prior agreement or understanding,
including the Original Agreement, he may have with the Company or any of its Subsidiaries, affiliates or predecessors, including,
but not limited to, any claim for severance or other benefits.

 

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14.         Counterparts.
This Agreement may be executed in separate counterparts (including by facsimile and electronic signature pages), each of which
is deemed to be an original and all of which taken together constitute one and the same agreement.

 

15.         No
Strict Construction. The parties hereto jointly participated in the negotiation and drafting of this Agreement. The language
used in this Agreement will be deemed to be the language chosen by the parties hereto to express their collective mutual intent,
this Agreement will be construed as if drafted jointly by the parties hereto, and no rule of strict construction will be applied
against any Person.

 

16.         Successors
and Assigns. This Agreement is intended to bind and inure to the benefit of and be enforceable by the Executive, the Company
and their respective heirs, successors and assigns. The Executive may not assign his rights or delegate his duties or obligations
hereunder without the prior written consent of the Company. The Company may assign its rights and obligations hereunder, without
the consent of, or notice to, the Executive, to any of the Company’s affiliates or any Subsidiary of the Company or to any
Person that acquires the Company or any portion of its business or its assets, in which case all references to the Company will
refer to such assignee.

 

17.         Choice
of Law. THIS AGREEMENT, AND ALL ISSUES AND QUESTIONS CONCERNING THE CONSTRUCTION, VALIDITY, ENFORCEMENT AND INTERPRETATION
OF THIS AGREEMENT, WILL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF CALIFORNIA, WITHOUT
GIVING EFFECT TO ANY CHOICE OF LAW OR CONFLICT OF LAW RULES OR PROVISIONS (WHETHER OF THE STATE OF CALIFORNIA OR ANY OTHER JURISDICTION)
THAT WOULD CAUSE THE APPLICATION OF THE LAWS OF ANY JURISDICTION OTHER THAN THE STATE OF CALIFORNIA.

 

18.         Arbitration.
Any and all claims or controversies arising out of or relating to the Executive’s employment, the termination thereof, or
otherwise arising between the Executive and the Company shall, in lieu of a jury or other civil trial, be settled by final and
binding arbitration before a single arbitrator in Los Angeles, California, in accordance with then-current rules of the American
Arbitration Association applicable to employment disputes. This agreement to arbitrate includes all claims whether arising in tort
or contract and whether arising under statute or common law including, but not limited to, any claim of breach of contract, discrimination
or harassment of any kind. The obligation to arbitrate such claims shall continue forever, and the arbitrator shall have jurisdiction
to determine the arbitrability of any claim. The arbitrator shall have the authority to award any and all damages otherwise recoverable
in a court of law. The arbitrator shall not have the authority to add to, subtract from or modify any of the terms of this Agreement.
Judgment on any award rendered by the arbitrator may be entered and enforced by any court having jurisdiction thereof. The Executive
will pay the then-current Superior Court of California filing fee towards the costs of the arbitration (i.e., filing fees, administration
fees, and arbitrator fees), and each party shall be responsible for paying its own other costs for the arbitration, including,
but not limited to, attorneys’ fees, witness fees, transcript fees, or other litigation expenses. The Executive shall not
be required to pay any type or amount of expense if such requirement would invalidate this agreement or would otherwise be contrary
to the law as it exists at the time of the arbitration. The prevailing party in any arbitration shall be entitled to recover its
reasonable attorney’s fees and costs, where authorized by contract or statute. This section does not apply or restrict either
the Company or the Executive from seeking equitable relief, including injunctive relief, from any court having competent jurisdiction
for violating this Agreement or any applicable law.

 

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19.         Business
Days. If any time period for giving notice or taking action hereunder expires on a day which is a Saturday, Sunday or legal
holiday in the state in which the Company’s chief-executive office is located, the time period shall automatically be extended
to the business day immediately following such Saturday, Sunday or legal holiday.

 

20.         Withholding;
280G. The Company and its Subsidiaries will be entitled to deduct or withhold from any amounts owing to the Executive any federal,
state, local or foreign withholding taxes, excise taxes, or employment taxes (“Taxes”) imposed with respect
to the Executive’s compensation or other payments from the Company or any of its Subsidiaries or the Executive’s ownership
interest in the Company or any of its Subsidiaries or its parent (including, without limitation, wages, bonuses, dividends, the
receipt or exercise of equity options and/or the receipt or vesting of restricted equity). In the event the Company or any of its
Subsidiaries does not make such deductions or withholdings, the Executive will indemnify and hold harmless the Company and its
Subsidiaries for any amounts paid with respect to any such Taxes (but not including any penalties or interest due thereon, all
of which shall be the responsibility of the Company). Notwithstanding any provision of this Agreement or any plan to the contrary,
if all or any portion of the payments or benefits received or realized by Executive pursuant to this Agreement either alone or
together with other payments or benefits that Executive receives or realizes or is then entitled to receive or realize from the
Company or any of its Subsidiaries or its parent would constitute an “excess parachute payment” within the meaning
of Section 280G of the Code and/or any corresponding and applicable state law provision, the payments or benefits provided to Executive
under this Agreement will be reduced by reducing the amount of payments or benefits payable to Executive to the extent necessary
so that no portion of Executive’s payments or benefits will be subject to the excise tax imposed by Section 4999 of the Code
and any corresponding and/or applicable state law provision. In the event such a reduction in payments or benefits is required,
the reduction shall be applied in a manner to minimize the total payments and benefits reduced by first reducing payments and benefits
a greater percentage of which are treated as parachute payments. Notwithstanding the foregoing, a reduction will be made under
the previous sentence only if, by reason of that reduction, Executive’s net after tax benefit exceeds the net after tax benefit
he or she would realize if the reduction were not made. For purposes of this paragraph, “net after tax benefit” means
the sum of (i) the total payments or benefits received or realized by Executive pursuant to this Agreement all or a portion of
which would constitute a “parachute payment” within the meaning of Section 280G of the Code and any corresponding and
applicable state law provision, plus (ii) all other payments or benefits that Executive receives or realizes or is then entitled
to receive or realize from the Company and any of its Subsidiaries all or a portion of which would constitute a “parachute
payment” within the meaning of Section 280G of the Code and any corresponding and applicable state law provision, less (iii)
the amount of FICA taxes and federal or state income taxes payable with respect to the payments or benefits described in (i) and
(ii) above calculated at the maximum marginal individual income tax rate (without considering deductibility of state tax for federal
tax purposes) for each year in which payments or benefits are realized by Executive (based upon the rate in effect for that year
as set forth in the Code at the time of the first receipt or realization of the foregoing), less (iv) the amount of excise taxes
imposed with respect to the payments or benefits described in (i) and (ii) above by Section 4999 of the Code and any corresponding
and applicable state law provision.

 

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21.         Corporate
Opportunities. During the Employment Period, the Executive will submit to the Board all business, commercial and investment
opportunities or offers presented to the Executive or of which the Executive becomes aware which relate to the business of the
Company or its Subsidiaries as such business of the Company or its Subsidiaries exists at any time during the Employment Period
(“Corporate Opportunities”). During the Employment Period, unless previously approved in writing by the Board,
the Executive will not accept or pursue, directly or indirectly, any Corporate Opportunities on the Executive’s own behalf.

 

22.         Assistance
in Proceedings. During the Employment Period and for one (1) year thereafter, the Executive will cooperate with the Company
and its Subsidiaries in any internal investigation or administrative, regulatory or judicial proceeding as reasonably requested
by the Company or any Subsidiary (including, without limitation, the Executive being available to the Company and its Subsidiaries
upon reasonable notice for interviews and factual investigations, appearing at the Company’s or any Subsidiary’s request
to give testimony without requiring service of a subpoena or other legal process, volunteering to the Company and its Subsidiaries
all pertinent information and turning over to the Company and its Subsidiaries all relevant documents which are or may come into
the Executive’s possession, all at times and on schedules that are reasonably consistent with the Executive’s other
permitted activities and commitments).

 

23.         Amendment
and Waiver. The provisions of this Agreement may be amended or waived only with the prior written consent of the Company and
the Executive, and no course of conduct or course of dealing or failure or delay by any Party hereto in enforcing or exercising
any of the provisions of this Agreement will affect the validity, binding effect or enforceability of this Agreement or be deemed
to be an implied waiver of any provision of this Agreement.

 

24.         Conflict.
In the event of any inconsistency between any of the provisions of this Agreement and any of the provisions of any Company equity
incentive plan or other agreement or instrument executed in furtherance hereof, this Agreement shall control.

* * * * *

 

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IN WITNESS WHEREOF,
the Parties hereto have executed this Executive Employment Agreement as of the date first written above.

 

	 	COMPANY:
	 	 
	 	GLOBAL EAGLE ENTERTAINMENT INC., a Delaware corporation
	 	 	 
	 	By:	/s/ David Davis
	 	Name:	David Davis
	 	Title:	Chief Executive Officer
	 	 	 
	 	/s/ Mike Zemetra
	 	Michael Zemetra

 

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EXECUTION

 

EXHIBIT A

 

WAIVER OF
CLAIMS, GENERAL RELEASE AND NON-COMPETITION AGREEMENT

 

This Waiver of Claims,
General Release and Non-competition agreement (the “Release”) is to confirm that the undersigned’s at-will employment
with Global Eagle Entertainment Inc. (the “Company”) is terminated effective as of_______, _____ (the “Termination
Date”). Effective as of the Termination Date, by execution of this Release, the undersigned (“you” or “Executive”)
hereby resign from all offices you hold with the Company and any of its subsidiaries.

 

Please read this Release
carefully. To help you understand the Release and your rights as a terminated employee, consult with your attorney.

 

Consistent with the
provisions of that certain Employment Agreement by and between you and the Company dated as of [________], 2014 (the “Employment
Agreement”), the Company will provide you with severance pay pursuant to the terms of the Employment Agreement. In consideration
for the severance payments and other good and valuable consideration set forth in the Employment Agreement, you hereby agree as
follows:

 

1. Release of Claims.

 

(a)          You
hereby release and forever discharge the Company and each of its past and present officers, directors, employees, agents, advisors,
consultants, successors and assigns from any and all claims and liabilities of any nature by you including, but not limited to,
all actions, causes of actions, suits, debts, sums of money, attorneys’ fees, costs, accounts, covenants, controversies,
agreements, promises, damages, claims, grievances, arbitrations, and demands whatsoever, known or unknown, at law or in equity,
by contract (express or implied), tort, pursuant to statute, or otherwise, that you now have, ever have had or will ever have based
on, by reason of, or arising out of, any event, occurrence, action, inaction, transition or thing of any kind or nature occurring
prior to or on the effective date of this Release. Without limiting the generality of the above, you specifically release and discharge
any and all claims and causes of action arising, directly or indirectly, from your employment at the Company, arising under the
Employee Retirement Income Security Act of 1974 (except as to claims pertaining to vested benefits under employee benefit plan(s)
of the Company), Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act of 1967, the Equal Pay Act,
the Rehabilitation Act, the Americans With Disabilities Act, or any other law, statute, ordinance, rule, regulation, decision or
order pertaining to employment or pertaining to discrimination on the basis of age, alienage, race, color, creed, gender, national
origin, religion, physical or mental disability, marital status, citizenship, sexual orientation or non-work activities. Payment
of any amounts and the provision of any benefits provided for in this Release do not signify any admission of wrongdoing by the
Company, its Subsidiaries or any of their affiliates.

 

(b)          You
acknowledge that you have been informed by your attorneys of the provisions of Section 1542 of the California Civil Code,
which provides as follows:

 

    	 

    	 

    

  

“A general
release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing
the release, which if known by him or her must have materially affected his settlement with the debtor.”

 

In that regard, you
hereby waive and relinquish all rights and benefits that you have or may have under Section 1542 of the California Civil Code
or any similar provision of the statutory or non-statutory law of any other jurisdiction to the full extent that you may lawfully
waive all such rights and benefits. In connection with such waiver and relinquishment, you acknowledge that you are aware that
you may, on your own behalf or by and through your attorneys, hereafter discover claims or facts in addition to or different from
those that you now know or believe to exist with respect to one or more of the parties released hereunder, but that it is your
intention to finally settle and release all matters that now exist, may exist or heretofore have existed between you and all parties
released hereunder. In furtherance of this intention, the releases herein given shall be and remain in effect as full and complete
general releases notwithstanding the discovery or existence of any such additional or different claims or facts by you, your attorneys
or any other person.

 

2. Non-competition.
In order to preserve and protect the goodwill and value of the Restricted Business (as defined below), Executive hereby agree as
follows:

 

(a)          During the period
beginning on the execution of this Agreement, and ending on the first (1st) anniversary of such termination (in each case, the
“Non-Competition Period”), Executive will not, either directly or indirectly, participate in any Restricted
Business. For purposes of this Agreement, (A) the term “Participate” means to have any direct or indirect interest,
whether as an officer, director, employee, partner, sole proprietor, agent, representative, independent contractor, consultant,
franchisor, franchisee, creditor, owner or otherwise provided that the term “Participate” shall not include
ownership of less than two percent (2%) of a class of stock of a publicly-held corporation which is traded on a national securities
exchange or in the over-the-counter market, so long as the Company or such Executive does not have any active participation in
the business or management of such entity; and (B) the term “Restricted Business” means any enterprise, business
or venture anywhere within the United States of America and/or any other geographic areas in which the Company transacted business
within the twenty-four (24) month period prior to the termination of Executive’s employment, which is active in the provisioning
of inflight entertainment content and/or connectivity solutions and services.

 

(b)          During
the Non-Competition Period Executive will not, either acting jointly or individually, (A) induce or attempt to induce
any employee of the Company or any of its affiliates to leave such entity’s employ or in any way interfere with the relationship
between the Company or its affiliates or successors and any of their employees, or (B) induce or attempt to induce any supplier,
licensee, licensor, franchisee, customer or other business relation of the Business (“Customer or Business Relation”)
to cease doing business with the Company or any of its affiliates or in any way interfere with the relationship between any member
of the Company or any such Customer or Business Relation.

 

    	- 2 -

    	 

    

(c)          The
Company would suffer irreparable harm from a breach of any of the covenants or agreements contained in this Section 2(c).
In the event of an alleged or threatened breach by Executive of any of the provisions of this Section 2(c), the Company
or its successors or assigns may, in addition to all other rights and remedies existing in its favor, apply to any court
of competent jurisdiction for specific performance and/or injunctive or other relief in order to enforce or prevent any violations
of the provisions hereof, in each case without the requirement of posting a bond or proving actual damages, and the Non-Competition
Period described above will be tolled with respect to Executive until such alleged breach or violation is resolved. The Executive
agrees that the restrictions in this Section 2(c) are reasonable protections under the circumstances of the payment of the
severance amounts set forth herein. If, at the time of enforcement of any of the provisions of this Section 2(c), a court
holds that the restrictions stated herein are unreasonable under the circumstances then existing, the Executive agrees that the
maximum period, scope or geographical area reasonable under such circumstances will be substituted for the stated period, scope
or area.

 

3. Older Workers
Benefit Protection Act. Pursuant to the Older Workers Benefit Protection Act, the Company hereby advises you that you should
consult an attorney before signing this Release, that you are entitled to take up to twenty-one (21) days from the date of your
receipt of this Release to consider it and that you may have seven (7) days from the date you sign this Release to revoke it. The
revocation must be personally delivered to the Company’s Vice President – Human Resources or his/her designee, or mailed
to them via certified mail, return receipt requested and postmarked within seven (7) calendar days of your execution of this Release.
This Release shall not become effective or enforceable until the revocation period has expired. Nothing herein is intended to,
or shall, preclude you from filing a charge with any appropriate federal, state, or local government agency and/or cooperating
with said agency in any investigation. You, however, explicitly waive any right to file a personal lawsuit and/or receive monetary
damages that the agency may recover against each of the parties released in Paragraph 1 above, without regard as to who brought
any said complaint or charge.

 

4. Confidentiality
of this Release. You agree that you shall keep the terms of this Release strictly confidential and not disclose, directly or
indirectly, any information concerning them to any third party, with the exception of your spouse (if you have a spouse), financial
or legal advisors, provided that they agree to keep such information confidential as set forth herein and not disclose it to others,
and except as may be required by court order or legal process.

 

5. Breach. You
agree that all of the payments and benefits provided for in the Employment Agreement are subject to termination, reduction or cancellation
in the event of your material breach of this Release.

 

6. Enforcement.
The parties agree that any legal proceeding brought to enforce the provisions of this Release may be brought only in the courts
of the State of California or the federal courts located in California and each party hereby consents to the jurisdiction of such
courts.

 

7. Severability.
If any of the terms of this Release shall be held to be invalid and unenforceable and cannot be rewritten or interpreted by the
court to be valid, enforceable and to meet the intent of the parties expressed herein, then the remaining terms of this Release
are severable and shall not be affected thereby.

 

8. Miscellaneous.
This Release and the Employment Agreement constitutes the entire agreement between the parties about or relating to your termination
of employment with the Company, or the Company's obligations to you with respect to your termination and fully supersedes any and
all prior agreements or understandings between the parties.

 

    	- 3 -

    	 

    

 

9. Representations.
You affirm that the only consideration for signing this Release is described in the Employment Agreement as referenced herein and
that no other promises or agreements of any kind have been made to or with you by any person or entity whatsoever to cause you
to sign this Release, and that you fully understand the meaning and intent of this instrument. You agree that you will not disparage
the Company in any way, nor will you make any public comments or communications which tend to cast the Company, its owners, directors,
officers or employees in a negative light.

 

You acknowledge that
you have carefully read this Release, voluntarily agree to all of its terms and conditions, understand its contents and the final
and binding effect of this Release, and that you have signed the same as your own free act with the full intent of releasing the
Company from all claims you may have against it.

 

EMPLOYEE

 

	 	 
	 	 
	[NAME]	 
	 	 
	Dated:	 

 

	GLOBAL EAGLE ENTERTAINMENT INC.	 
	 	 	 
	By:	 	 
	 	Name:	 
	 	Title:	 

 

Dated:

 

    	- 4 -EX-10.1

 Exhibit 10.1 

STRATEGIC STORAGE OPERATING PARTNERSHIP II, L.P. 

SERIES A CUMULATIVE REDEEMABLE 

PREFERRED UNIT PURCHASE AGREEMENT 

THIS SERIES A CUMULATIVE REDEEMABLE PREFERRED UNIT PURCHASE AGREEMENT (this “Agreement”) is made and entered into this 3rd
day of November, 2014, by and among Strategic Storage Operating Partnership II, L.P., a Delaware limited partnership (the “Operating Partnership”), Strategic Storage Trust II, Inc., a Maryland corporation and the sole general
partner of the Operating Partnership (the “Company”), and SSTI Preferred Investor, LLC, a Delaware limited liability company (the “Purchaser”). 

WHEREAS, the Operating Partnership proposes to issue and sell to the Purchaser up to an aggregate of 2,600,000 Series A Cumulative Redeemable
Preferred Units of Limited Partnership Interest at a liquidation preference $25.00 per unit (the “Preferred Units”) in consideration for the Purchaser making a capital contribution to the Operating Partnership in an amount up to an
aggregate of $65,000,000 (the “Total Investment”), which Total Investment may be made in one or more tranches (each an “Investment,” and collectively, the “Investments”); 

WHEREAS, subject to the terms and conditions and representations and warranties set forth in this Agreement, the Purchaser hereby agrees to
purchase up to an aggregate of 2,600,000 Preferred Units in one or more Closings (as defined below); 
 WHEREAS, the terms and provisions of
the Preferred Units shall be set forth and established in Amendment No. 1 (the “Amendment”), dated as of the date hereof, to the Second Amended and Restated Limited Partnership Agreement of the Operating Partnership, effective
as of the date hereof (the “Partnership Agreement”), which Amendment and Partnership Agreement shall be substantially in the forms attached hereto as Exhibits A-1 and A-2, respectively; 

WHEREAS, the Preferred Units are being offered and sold by the Operating Partnership to the Purchaser without being registered with the
Securities and Exchange Commission (the “Commission”) under the Securities Act of 1933, as amended (the “1933 Act”), in reliance upon the Section 4(a)(2) private placement exemption therefrom; and 

WHEREAS, certain terms used in this Agreement are defined in Section 14 hereof. 

NOW, THEREFORE, in consideration of the promises and the mutual covenants contained herein, the parties hereby agree as follows: 

Section 1. Representations and Warranties of the Operating Partnership and the Company. Except as set forth in the
disclosure schedules hereto, the Operating Partnership and the Company, jointly and severally, represent and warrant to the Purchaser, as of the date hereof and as of each Closing Date (as defined below) and agree with the Purchaser, as follows:

 (a) As of October 15, 2014, the only subsidiaries of the Operating Partnership and the Company are the subsidiaries listed on
Schedule I hereto (the “Subsidiaries”). 
 (b) Each of the Operating Partnership and the Company has been duly
organized and is validly existing as a limited partnership or corporation, as the case may be, in good standing under the laws of the jurisdiction of its organization. Each Subsidiary has been duly organized and is validly existing as a corporation,
general or limited partnership, or limited liability 

 
company, as the case may be, in good standing under the laws of the jurisdiction of its organization, except where the failure to be in good standing would not, individually or in the aggregate,
result in a Material Adverse Effect. Each of the Operating Partnership, the Company and the Subsidiaries has full power and authority (limited partnership, corporate and other) to own or lease, as the case may be, and operate its properties and to
conduct its business as described in the Registration Statement, and in the case of each of the Operating Partnership and the Company, to enter into and perform its obligations under this Agreement and to consummate the transactions contemplated
hereby. Each of the Operating Partnership, the Company and the Subsidiaries is duly qualified or registered to do business in each jurisdiction in which it owns or leases real property or in which the conduct of its business requires such
qualification or registration, except where the failure to be so qualified or registered would not, individually or in the aggregate, result in a Material Adverse Effect; and, other than the Subsidiaries, as of the date hereof and as of each
Closing, neither the Operating Partnership nor the Company owns or will own any stock or other beneficial interest in any corporation, partnership, joint venture or other business entity. 

(c) The Company is the sole general partner of the Operating Partnership and, as of the date hereof, holds all of the general partnership
interest of the Operating Partnership. As of October 15, 2014, there are 1,144,152 partnership units of the Operating Partnership (“Partnership Units”) issued and outstanding, of which 1,124,152 Partnership Units are owned by
the Company and 20,000 Partnership Units are owned by limited partners of the Operating Partnership, and no preferred units of limited partnership interest of the Operating Partnership are issued and outstanding. All of the issued and outstanding
general partnership interests in the Operating Partnership and all of the issued and outstanding capital stock or ownership interests of each Subsidiary have been duly authorized and are validly issued, fully paid and non-assessable and, except as
set forth on Schedule I hereto, are wholly-owned by the Company, directly or indirectly through Subsidiaries, free and clear of any Lien. All of the issued and outstanding Partnership Units have been duly authorized and are validly issued,
and holders of Partnership Units do not have any obligation to make payments to the Operating Partnership or its creditors (other than the purchase price for the Partnership Units) or contributions to the Operating Partnership or its creditors
solely by reason of such holders’ ownership of Partnership Units. All such issued and outstanding Partnership Units are majority-owned by the Company in the percentages indicated on Schedule I hereto, directly or indirectly through
Subsidiaries, free and clear of any Lien. None of the outstanding Partnership Units was issued in violation of preemptive or other similar rights of any security holder or partner of the Operating Partnership arising by operation of law, under the
Partnership Agreement, or any agreement to which the Operating Partnership is a party. All of the issued and outstanding Partnership Units have been offered, sold and issued in compliance with all applicable laws, including without limitation,
federal and state securities laws. 
 (d) As of October 15, 2014, the authorized capital stock of the Company consists solely of
700,000,000 shares of common stock (the “Common Stock”), and 200,000,000 shares of preferred stock (“Preferred Stock”). The aggregate par value of all authorized shares of Common Stock and Preferred Stock is
$900,000. As of October 15, 2014, there are 1,124,152 shares of Common Stock and 0 shares of Preferred Stock issued and outstanding. All of the issued and outstanding shares of capital stock of the Company have been duly authorized and are
validly issued, fully paid and non-assessable. None of the outstanding shares of capital stock of 

  
 2 

 
the Company was issued in violation of preemptive or other similar rights of any security holder of the Company arising by operation of law, under the First Articles of Amendment and Restatement
of the Company, as amended (the “Charter”), the bylaws of the Company, or any agreement to which the Company is a party. All of the issued and outstanding shares of capital stock of the Company have been offered, sold, and issued in
compliance with all applicable laws, including without limitation, federal and state securities laws, except as would not have a Material Adverse Effect. 

(e) There is no outstanding option, warrant, or other right requiring the issuance of, and no commitment, plan, or arrangement to issue (other
than the Employee and Director Long-Term Incentive Plan of the Company), any equity interests in the Operating Partnership or any shares of capital stock of the Company or any equity interests in any Subsidiary or any security convertible into or
exchangeable for such interests or shares. 
 (f) This Agreement has been duly authorized, executed, and delivered by each of the Operating
Partnership and the Company and constitutes the legal, valid, and binding obligation of each of the Operating Partnership and the Company, enforceable against each of the Operating Partnership and the Company in accordance with its terms, except as
may be limited by bankruptcy, insolvency, reorganization, moratorium, or similar laws affecting creditors’ rights generally or by general principles of equity. 

(g) The Partnership Agreement has been duly authorized by the Company, in its capacity as general partner of the Operating Partnership, and,
when executed and delivered by the Company, in its capacity as general partner of the Operating Partnership, will constitute a legal, valid, and binding obligation, enforceable in accordance with its terms, except as may be limited by bankruptcy,
insolvency, reorganization, moratorium, or similar laws affecting creditors’ rights generally or by general principles of equity. The Partnership Agreement is in full force and effect as of the date hereof and the Partnership Agreement shall be
in full force and effect as of each Closing Date. 
 (h) The Amendment has been duly authorized by the Company, in its capacity as general
partner of the Operating Partnership, and, when executed and delivered by the Company, in its capacity as general partner of the Operating Partnership, will constitute a legal, valid, and binding obligation, enforceable in accordance with its terms,
except as may be limited by bankruptcy, insolvency, reorganization, moratorium, or similar laws affecting creditors’ rights generally or by general principles of equity. 

(i) The Preferred Units have been duly and validly authorized by the Operating Partnership for issuance and sale pursuant to this Agreement
and, when issued and delivered by the Operating Partnership pursuant to the terms of this Agreement against payment of the consideration therefor specified herein, will be validly issued, and the Purchaser will not have any obligation to make
payments to the Operating Partnership or its creditors (other than the purchase price for the Preferred Units) or contributions to the Operating Partnership or its creditors solely by reason of the Purchaser’s ownership of Preferred Units. The
issuance of the Preferred Units will not be subject to the preemptive or other similar rights of any security holder or partner of the Operating Partnership arising by operation of law, under the Partnership Agreement or any agreement to which the
Operating Partnership is a party. 

  
 3 

 (j) There are no transfer taxes or other similar fees or charges under federal law or the laws of
any state, or any political subdivision thereof, or any other Governmental Authority required to be paid in connection with the execution and delivery of this Agreement or the issuance and sale by the Operating Partnership of the Preferred Units.

 (k) The execution, delivery, and performance by each of the Operating Partnership and the Company of this Agreement and consummation of
the transactions contemplated hereby: (i) have been duly authorized by all necessary limited partnership or corporate action, as applicable, and will not result in any Default (as defined below) under the certificate of limited partnership of
the Operating Partnership or the Partnership Agreement, the Charter or bylaws of the Company or any organizational document of any Subsidiary; (ii) will not conflict with or constitute a breach of, or default (or, with the giving of notice or
lapse of time, would be in default) (“Default”) or a Debt Repayment Triggering Event (as defined below) under, or result in the creation or imposition of any Lien upon any property or assets of the Operating Partnership, the
Company, or the Subsidiaries pursuant to, or require the consent of any other party to, any indenture, mortgage, loan, or credit agreement, deed of trust, note, contract, franchise, lease, or other agreement, obligation, condition, covenant, or
instrument to which the Operating Partnership, the Company or any Subsidiary is a party or by which it or any of its respective properties or assets may be bound (collectively, “Agreements or Instruments”), and provided, that
none of the Operating Partnership, the Company, or any Subsidiary shall enter into any Agreement or Instrument that would restrict or limit in any respect the rights of the Purchaser as set forth in this Agreement; and (iii) will not result in
any violation of any statute, law, rule, regulation, judgment, order, or decree applicable to the Operating Partnership, the Company, or the Subsidiaries of any court, regulatory body, administrative agency, governmental body, arbitrator, or other
authority having jurisdiction over the Operating Partnership, the Company, or the Subsidiaries or any of their respective properties or assets. No consent, approval, authorization, or other order of, or registration or filing with, any Governmental
Authority is required for the execution, delivery, and performance by each of the Operating Partnership and the Company of this Agreement or the transactions contemplated hereby, except such as have been obtained or made by the Operating Partnership
or the Company and are in full force and effect or as may be required under the 1933 Act, the 1934 Act or applicable state securities or blue sky laws. As used herein, a “Debt Repayment Triggering Event” means any event or condition
which gives, or with the giving of notice or lapse of time would give, the holder of any note, debenture, or other evidence of indebtedness (or any person acting on such holder’s behalf) the right to require the repurchase, redemption, or
repayment of all or a portion of such indebtedness. 
 (l) The Operating Partnership, the Company, and the Subsidiaries have complied in all
respects with all laws, regulations, and orders applicable to them or their respective businesses, except as would not have a Material Adverse Effect; none of the Operating Partnership, the Company, or the Subsidiaries is in default under any
indenture, mortgage, deed of trust, voting trust agreement, loan agreement, bond, debenture, note agreement, or evidence of indebtedness, lease, contract, or other agreement or instrument to which it is a party or by which it or any of its
respective properties or assets are bound, violation of which would individually or in the aggregate have a Material Adverse Effect, and no other party under any such agreement or instrument to which the Operating Partnership, the Company, or the
Subsidiaries are a party is, to the knowledge of the Operating Partnership or the Company, in default in any material respect 

  
 4 

 
thereunder; and the Operating Partnership, the Company, and the Subsidiaries are not in violation of their respective certificate of limited partnership, Partnership Agreement, Charter, bylaws,
or other organizational documents, as the case may be. 
 (m) There is not pending or, to the knowledge of the Operating Partnership or the
Company, threatened any action, suit, or proceeding to which the Operating Partnership, the Company, and the Subsidiaries or any of their respective officers or directors is a party, or of which any of their properties or other assets is the
subject, before or by any Governmental Authority, that is reasonably likely, individually or in the aggregate, to result in any Material Adverse Effect or to have a material adverse effect on the ability of the Operating Partnership or the Company
to perform its obligations under this Agreement or to consummate the transactions contemplated hereby. 
 (n) Each of the Operating
Partnership, the Company, and the Subsidiaries holds all material licenses, certificates, and permits from Governmental Authorities that are necessary to the conduct of its business and is in compliance with the terms and conditions of such
licenses, certificates and permits; and none of the Operating Partnership, the Company or the Subsidiaries has received any notice of proceedings relating to the revocation or modification of any such permits, licenses or certificates that, if
determined adversely to the Operating Partnership, the Company, or any Subsidiary, would, individually or in the aggregate, have a Material Adverse Effect. 

(o) There is no claim by any of the Operating Partnership, the Company, the Subsidiaries pending under any insurance policies which
(a) has been denied or disputed by the insurer other than denials and disputes in the ordinary course of business consistent with past practice or (b) if not paid, would have a Material Adverse Effect. With respect to each such insurance
policy, except as would not, individually or in the aggregate, have a Material Adverse Effect, (a) the Operating Partnership, the Company, and the Subsidiaries have paid, or caused to be paid, all premiums due under the policy and have not
received written notice that they are in default with respect to any obligations under the policy, and (b) to the knowledge of the Operating Partnership and the Company, as of the date hereof no insurer on the policy has been declared insolvent
or placed in receivership, conservatorship or liquidation. None of the Operating Partnership, the Company, or the Subsidiaries have received any written notice of cancellation or termination with respect to any existing insurance policy that is held
by, or for the benefit of, any of the Operating Partnership, the Company, or the Subsidiaries, other than as would not have, individually or in the aggregate, a Material Adverse Effect. 

(p) There are no contracts, agreements or understandings between or among the Operating Partnership, the Company, or the Subsidiaries and any
person that would give rise to a valid claim against the Operating Partnership, the Company, or the Subsidiaries, or the Purchaser for a brokerage commission, finder’s fee, or other like payment in connection with the offering, issuance and
sale of the Preferred Units or as a result of any transactions contemplated by this Agreement. 
 (q) Each of the Operating Partnership, the
Company, and the Subsidiaries has filed all federal, state, local, and foreign income tax returns which have been required to be filed by it, except in any case in which the failure so to file would not have a Material Adverse Effect, and has paid
all taxes indicated by said returns and all assessments received by it to the extent that such taxes have become due, except for any such assessment that is currently being contested in 

  
 5 

 
good faith or as would not have a Material Adverse Effect. No tax deficiency has been asserted against the Operating Partnership, the Company, or any Subsidiary, nor does the Operating
Partnership or the Company know of any tax deficiency which is likely to be asserted against the Operating Partnership, the Company, or any Subsidiary, except for any such deficiency that would not have a Material Adverse Effect; all tax
liabilities, if any, are adequately provided for on the respective books of the entities in all material respects. 
 (r) The Operating
Partnership has been properly classified as a partnership for federal tax purposes throughout the period from its formation through the date hereof. 

(s) None of the Operating Partnership, the Company or, any Subsidiary is and, after giving effect to the issuance of the Preferred Units and
the application of the proceeds therefrom and the other transactions contemplated by this Agreement, none of the Operating Partnership, the Company, or any Subsidiary will be, an “investment company” or a company “controlled” by
an “investment company” within the meaning of the Investment Company Act of 1940, as amended (the “1940 Act”). 

(t) No Subsidiary of the Company is currently prohibited, directly or indirectly, from paying any dividends to the Operating Partnership or
the Company, from making any other distribution on such Subsidiary’s equity interests or capital stock, from repaying to the Operating Partnership or the Company any loans or advances to such Subsidiary from the Operating Partnership or the
Company or, except as set forth in that certain Assumption Agreement dated as of November 3, 2014 by and among U.S. BANK NATIONAL ASSOCIATION, as Trustee for the registered holders of WFRBS Commercial Mortgage Trust 2013-C16, Commercial
Mortgage Pass-Through Certificates, Series 2013-C16, FLAGSHIP PROPERTIES III, LLC, a Delaware limited liability company, SST II 5012 NEW BERN AVE, LLC, a Delaware limited liability company, SST II 150 AIRPORT BLVD, LLC, a Delaware limited liability
company, SST II 338 JESSE ST, LLC, a Delaware limited liability company, SST II 120 CENTREWEST CT, LLC, a Delaware limited liability company, and SST II 4630 DICK POND RD, LLC, a Delaware limited liability company, from transferring any of such
Subsidiary’s property or assets to the Operating Partnership, the Company or any other Subsidiary of the Operating Partnership or the Company. 

(u) Other than the Partnership Agreement and the Charter, there are no existing agreements among the Operating Partnership, the Company and
any of their respective security holders that prohibit the sale, transfer, assignment, pledge, or hypothecation of any of the Operating Partnership’s or the Company’s securities. 

Section 2. Representations and Warranties of the Purchaser. The Purchaser represents and warrants to and agrees with
the Operating Partnership and the Company as of the date hereof and as of each Closing Date as follows: 
 (a) The Purchaser has been duly
organized and is validly existing as a limited liability company in good standing under the laws of the State of Delaware. The Purchaser has full limited liability company power to execute and deliver this Agreement and to perform its obligations
hereunder and thereunder and to consummate the transactions contemplated hereby. 
 (b) This Agreement has been duly authorized, executed,
and delivered by the Purchaser, and constitutes the legal, valid, and binding obligation of the Purchaser, enforceable 

  
 6 

 
in accordance with its terms, except as may be limited by bankruptcy, insolvency, reorganization, moratorium, or similar laws affecting creditors’ rights generally or by general principles
of equity. 
 (c) The Amendment has been duly authorized by the Purchaser and, when executed and delivered by the Purchaser, will constitute
the legal, valid, and binding obligation of the Purchaser, enforceable in accordance with its terms, except as may be limited by bankruptcy, insolvency, reorganization, moratorium, or similar laws affecting creditors’ rights generally or by
general principles of equity. 
 (d) The Purchaser need not give any notice to, make any filing with, or obtain any authorization, consent,
or approval of any Governmental Authority in order to consummate the transactions contemplated by this Agreement, except for such as have been obtained and except for such as would not materially impede the transactions contemplated by this
Agreement. 
 (e) Neither the execution and delivery of this Agreement, nor the consummation of the transactions contemplated hereby, will
violate any constitution, statute, regulation, rule, injunction, judgment, order, decree, ruling, charge or other restriction of any Governmental Authority to which the Purchaser is subject or any provision of its organizational documents, except
for such violations as would not materially impede the transactions contemplated by this Agreement. 
 (f) The Purchaser and its
representatives have had an opportunity to ask questions and receive answers from the Operating Partnership and the Company regarding the terms and conditions of the sale of the Preferred Units to the Purchaser and the business, properties,
prospects and financial condition of the Operating Partnership and the Company. 
 (g) The Purchaser is acquiring the Preferred Units for
its own account for investment purposes and not with a view to the distribution thereof. 
 (h) The Purchaser has substantial experience as
a purchaser of equity securities issued by companies similar to the Operating Partnership and acknowledges that it is able to fend for itself, can bear the economic risk of its investment and could afford a complete loss of such investment, and has
such knowledge and experience in financial and business matters that it is capable of evaluating the merits and risks of an investment in the Preferred Units. The Purchaser acknowledges that in purchasing the Preferred Units it must be prepared to
continue to bear the economic risk of such investment for an indefinite period of time because the Preferred Units have not been registered under the 1933 Act and cannot be sold unless they are subsequently registered under the 1933 Act and
applicable state securities laws, or unless exemptions from such registration requirements are available, and then will be only transferable in accordance with the terms of the Partnership Agreement, as modified by the Amendment. 

(i) The Purchaser is an “accredited investor” within the meaning of Rule 501(a) under the 1933 Act. 

(j) There are no contracts, agreements, or understandings between the Purchaser and any person that would give rise to a valid claim against
the Operating Partnership or the Company for a brokerage commission, finder’s fee, or other like payment in connection with the offering, issuance and sale of the Preferred Units to the Purchaser. 

  
 7 

 (k) It is understood that any certificate(s) evidencing the Preferred Units shall initially bear
substantially the following legend (in addition to any legend otherwise required under applicable federal or state securities laws or by the Partnership Agreement): 

“THE SECURITIES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES
LAWS OF ANY STATE, AND MAY NOT BE SOLD, TRANSFERRED, ASSIGNED, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM OR NOT SUBJECT TO SUCH REGISTRATION REQUIREMENTS.” 

Section 3. Sale and Delivery to the Purchaser. 

(a) On the basis of the representations and warranties contained herein and subject to the terms and conditions herein set forth, the
Operating Partnership agrees to sell to the Purchaser, and the Purchaser agrees to purchase from the Company, up to an aggregate of 2,600,000 Preferred Units at one or more Closings, for the consideration specified in Section 3(b) below. 

(b) At the closing of each Investment (a “Closing”), the Operating Partnership will deliver to the Purchaser a certificate or
an entry on its books and records representing the number of Preferred Units equal to (i) the amount of the Investment being made at such Closing divided by (ii) $25.00, against payment of an amount equal to the Investment, in Federal
(same day) funds by wire transfer to the account of the Operating Partnership, on such business day as the Operating Partnership and the Purchaser shall agree (each such date of such payment being herein referred to as a “Closing
Date”). 
 (c) The certificate or book entry for the Preferred Units to be issued to the Purchaser shall be registered in such name
as the Purchaser may request in writing at least one full business day before the applicable Closing Date. If a certificate for the Preferred Units is issued, the certificate will be made available for examination by the Purchaser in Ladera Ranch,
California, not later than 8:00 a.m. (Pacific Time) on the business day prior to the applicable Closing Date. 

Section 4. Covenants of the Operating Partnership and the Company. Each of the Operating Partnership and the
Company, jointly and severally, covenants with the Purchaser as follows: 
 (a) Each of the Operating Partnership and the Company agrees
that the proceeds received by the Operating Partnership from the sale of the Preferred Units shall be used solely for (i) the acquisition of the twenty-six (26)-facility self-storage portfolio consisting of fourteen (14) self-storage
facilities located in California, four (4) self-storage facilities located in Michigan, three (3) self-storage facilities located in Colorado, two (2) self-storage facilities located in Illinois, and one (1) self-storage facility
located in each of New Jersey, Washington and Maryland, including reasonable out-of-pocket costs and expenses related thereto; (ii) the acquisition of the five (5)-facility self-storage portfolio consisting of three (3) self-storage
facilities located in Raleigh, North Carolina and two (2) self-storage facilities located in Myrtle Beach, South Carolina, including reasonable out-of-pocket costs and expenses related thereto; and (iii) for the payment of the costs,
expenses, and fees incurred or to be incurred in connection with its entry into this Agreement, and the transactions contemplated hereby (collectively, the “Approved Uses”). 

  
 8 

 (b) From the date of this Agreement until the final Closing Date, except as contemplated by this
Agreement, the Operating Partnership and the Company shall, and shall cause each of the Subsidiaries to, (i) conduct its operations only in the ordinary course of business consistent with past practice and (ii) use its reasonable
commercial efforts to conduct its operations in compliance with applicable laws and to maintain and preserve intact its business organization, to retain the services of its current officers and key employees, to preserve its assets and properties in
good repair and condition, and to preserve the good will of its customers, suppliers and other persons with whom it has business relationships. 

(c) Without limiting the generality of Section 4(b), and except as otherwise contemplated by this Agreement, the Operating Partnership
and the Company shall not, and shall not permit any of the Subsidiaries to, take any action that would constitute a breach of any Protective Provision (as such term is defined in the Amendment) from the date of this Agreement until the final Closing
Date, without the prior written consent of the Purchaser, such consent not to be unreasonably withheld or delayed. 
 (d) The Operating
Partnership and the Company shall do, or cause to be done with respect to themselves and the Subsidiaries, all things necessary to (i) preserve, renew, and keep in full force and effect the rights, licenses, permits and franchises necessary for
the conduct of the business of each Property and comply in all respects with all applicable Legal Requirements applicable to each Property and (ii) comply, and cause the Subsidiaries to comply, in all material respects with all of the
provisions of all of their respective organizational documents, and the laws of the state in which each such entity was formed. The Operating Partnership and the Company shall at all times, and shall cause the Subsidiaries to, maintain, preserve,
and protect all applicable franchises and trade names and preserve all the remainder of their respective property necessary for the continued conduct of their respective businesses, as applicable. 

(e) The Operating Partnership and the Company have taken and shall continue to take all steps and implement all policies which are necessary
to ensure that the Operating Partnership, the Company, and the Subsidiaries are in compliance with all material Legal Requirements applicable to each entity’s business, including, without limitation, those Legal Requirements relating to
anti-money laundering and anti-terrorism. 
 Section 5. Payment of Expenses. Each of the Operating Partnership and
the Company, jointly and severally, agrees to pay all expenses arising in connection with the preparation of this Agreement and in connection with the transactions contemplated hereby, including, without limitation, (i) all expenses incident to
the issuance and delivery of the Preferred Units; (ii) all fees and expenses of the Operating Partnership’s and the Company’s counsel and other advisors; (iii) all necessary issue, transfer, and other stamp taxes; and
(iv) all reasonable out-of-pocket fees and expenses incurred by the Purchaser, including, without limitation, the fees and expenses of the Purchaser’s outside counsel, title report fees and costs, survey costs, and costs incurred in
obtaining and/or reviewing due diligence materials, including, without limitation, appraisals, environmental and engineering reports, and travel costs of the Purchaser’s personnel or representatives, plus an amount up to 0.25% of the Total
Investment, regardless of whether the issuance and sale of the Preferred Units to the Purchaser is consummated and for as long as the Preferred Units are outstanding. 

  
 9 

 Section 6. Conditions of the Purchaser’s Obligations. The
obligations of the Purchaser hereunder are subject to the accuracy of the representations and warranties of the Operating Partnership and the Company herein included, to the performance by the Operating Partnership and the Company of their
respective obligations hereunder, and to the following further conditions: 
 (a) At each Closing Date, (i) no proceedings shall be
pending or, to the knowledge of the Operating Partnership or the Company, threatened against the Operating Partnership, the Company or any Subsidiary before or by any Federal, state, or other commission, board, or administrative agency wherein an
unfavorable decision, ruling, or finding would reasonably be expected to result in any Material Adverse Effect, (ii) the representations and warranties set forth in Section 1 hereof shall be accurate as though expressly made at and as of
such Closing Date; and (iii) each of the Operating Partnership and the Company has complied in all material respects with all agreements and satisfied all conditions on its part to be performed or satisfied at or prior to such Closing Date.

 (b) At each Closing Date, the Purchaser shall have received a certificate executed by the president or chief executive officer and the
chief financial officer of the Company, dated as of such Closing Date, on behalf of the Company and as general partner of the Operating Partnership, certifying that the representations and warranties contained in Section 1 are accurate as if
made at the applicable Closing Date and that the conditions precedent set forth in this Section 6 have been satisfied. 
 (c) At each
Closing Date, the Purchaser shall have received a certificate executed by the secretary of the Company, dated as of the date hereof, on behalf of the Company and as general partner of the Operating Partnership, certifying as to the resolutions of
the Board of Directors of the Company, on behalf of the Company and as general partner of the Operating Partnership, and other limited partnership and corporate proceedings relating to the authorization, execution, and delivery of this Agreement and
the consummation of the transactions contemplated hereby. 
 (d) At the initial Closing Date, the Purchaser shall have received (i) the
Amendment and the Partnership Agreement, substantially in the forms attached hereto as Exhibits A-1 and A-2, respectively, duly executed by the Company, in its capacity as general partner of the Operating Partnership, and on behalf of
the existing limited partners in the Operating Partnership (via power of attorney), and the Purchaser; and (ii) a certificate or book entry registered in the name of the Purchaser representing the number of Preferred Units to be purchased by
the Purchaser pursuant to Section 3 (the “Preferred Units Certificate”), duly executed by the Company, in its capacity as general partner of the Operating Partnership. 

(e) At the initial Closing Date, counsel for the Purchaser shall have been furnished with such documents as it may reasonably require in order
to evidence the accuracy of any of the representations or warranties, or the fulfillment of any of the conditions, herein included; and all proceedings taken by the Operating Partnership or the Company that are necessary in connection with the
issuance and sale of the Preferred Units shall be satisfactory in form and substance to the Purchaser and its counsel. 
 If any condition
specified in this Section 6 shall not have been fulfilled when and as required to be fulfilled, this Agreement may be terminated by the Purchaser by notice to the 

  
 10 

 
Operating Partnership and the Company at any time at or prior to the final Closing Date, and such termination shall be without liability of any party to any other party, except that the
provisions concerning payment of expenses under Section 5 hereof, the provisions concerning indemnification under Section 7 hereof, and the provisions relating to governing law shall remain in effect. 

Section 7. Indemnification. 

(a) Each of the Operating Partnership and the Company, jointly and severally, agrees to indemnify, defend, and hold harmless the Purchaser
from and against all actual third party costs and expenses (including, without limitation, reasonable attorney’s fees and expenses) and any actual losses and damages (collectively, “Losses”) suffered or incurred by the
Purchaser (whether or not due to third party claims) that arise out of or result from (i) any material inaccuracy in or any material breach of, as of the date hereof or as of any Closing Date, any representation and warranty made by the
Operating Partnership and/or the Company in this Agreement; and (ii) any material failure by the Operating Partnership or the Company to duly and timely perform or fulfill any of their covenants or agreements required to be performed by them
under this Agreement. 
 (b) The Purchaser shall indemnify and hold harmless the Operating Partnership and the Company from and against any
and all Losses suffered or incurred by any of the Operating Partnership or the Company (whether or not due to third party claims) that arise out of or result from (i) any material inaccuracy in or any material breach of, as of the date hereof
or as of any Closing Date, any representation or warranty made by the Purchaser in this Agreement, and (ii) any material failure by the Purchaser to duly and timely perform or fulfill any of its covenants or agreements required to be performed
by the Purchaser under this Agreement. 
 (c) All claims for indemnification by a party seeking indemnification under this Section 7
shall be asserted and resolved as follows. If an indemnifying party intends to seek indemnification under this Section 7, it shall promptly notify the indemnifying party in writing of such claim. The failure to provide such notice will not
affect any rights hereunder except to the extent the indemnifying party is materially prejudiced thereby. If such claim involves a claim by a third party against the indemnified party, the indemnifying party may, within ten (10) days after
receipt of such notice and upon notice to the indemnified party, assume, with counsel reasonably satisfactory to the indemnified party, at the sole cost and expense of the indemnifying party, the settlement or defense thereof (in which case any
Losses associated therewith shall be the sole responsibility of the indemnifying party), provided, that the indemnified party may participate in such settlement or defense through its own counsel and at its own cost and expense; provided,
further, that, if the indemnified party reasonably determines that representation by the indemnifying party’s counsel of both the indemnifying party and the indemnified party may present such counsel with a material conflict of interest,
then the indemnifying party shall pay the reasonable fees and expenses of the indemnified party’s counsel, which counsel will be approved in writing (including, without limitation, as to fee structure) by the indemnifying party, such approval
not to be unreasonably withheld, delayed or conditioned. Notwithstanding the foregoing, (i) the indemnifying party may, at the sole cost and expense of the indemnifying party, at any time prior to the indemnifying party’s timely delivery
of the notice referred to in the third sentence of this Section 7(c), file any motion, answer or other pleadings or take any other action that the indemnifying party reasonably believes to be 

  
 11 

 
necessary or appropriate to protect its interests, (ii) the indemnifying party may take over the control of the defense or settlement of a third-party claim at any time if it irrevocably
waives its right to indemnity under this Section 7 with respect to such claim and (iii) the indemnifying party may not, without the consent of the indemnifying party, settle or compromise any action or consent to the entry of any judgment,
such consent not to be unreasonably withheld. So long as the indemnifying party is contesting any such claim in good faith, the indemnifying party shall not pay or settle any such claim without the indemnifying party’s consent, such consent not
to be unreasonably withheld. If the indemnifying party is not entitled to assume the defense of the claim pursuant to the foregoing provisions or is entitled but does not contest such claim in good faith (including if it does not notify the
indemnifying party of its assumption of the defense of such claim within the ten (10)-day period set forth above), then the indemnifying party may conduct and control, through counsel of its own choosing and at the expense of the indemnifying party,
the settlement or defense thereof, and the indemnifying party shall cooperate with it in connection therewith. The failure of the indemnifying party to participate in, conduct or control such defense shall not relieve the indemnifying party of any
obligation it may have hereunder. Any defense costs required to be paid by the indemnifying party shall be paid as incurred, promptly against delivery of invoices therefor. 

(d) The parties hereto agree that any indemnification payments made with respect to this Agreement shall be “grossed up” such that
the indemnifying party will pay an amount to the indemnifying party that reflects the hypothetical tax consequences of the receipt or accrual of such indemnification payment, using the maximum applicable statutory rate (or, in the case of an item
that affects more than one tax, rates) of tax and reflecting, for example, the effect of deductions available for taxes such as state and local income taxes. 

Section 8. Confidential Information. The Purchaser or the Operating Partnership, the Company or their respective
affiliates, as the case may be, will maintain the confidentiality of Confidential Information in accordance with procedures adopted by such party in good faith to protect confidential information of third parties delivered to such party;
provided, that the Purchaser or the Operating Partnership, the Company or their respective affiliates, as the case may be, may deliver or disclose Confidential Information to (i) its directors, officers, employees, agents, attorneys and
affiliates (to the extent such disclosure reasonably relates to the administration of the investment represented by the Preferred Units); (ii) its financial advisors and other professional advisors who agree to hold confidential the
Confidential Information substantially in accordance with the terms of this Section 8; (iii) any other holder of Preferred Units; (iv) any accredited investor to which the Purchaser or the Operating Partnership, the Company or their
respective affiliates, as the case may be, sells or offers to sell Preferred Units or any part thereof or any participation therein (if such person has agreed in writing prior to its receipt of such Confidential Information to be bound by the
provisions of this Section 8); (v) any person from which the Purchaser or the Operating Partnership, the Company or their respective affiliates, as the case may be, offers to purchase any security of the Operating Partnership, the Company,
or any of their respective Subsidiaries (if such person has agreed in writing prior to its receipt of such Confidential Information to be bound by the provisions of this Section 8); (vi) any federal or state regulatory authority having
jurisdiction over the Purchaser or the Operating Partnership, the Company or their respective affiliates, as the case may be; and (vii) any other person to which such delivery or disclosure may be necessary or appropriate (v) to effect
compliance with any law, rule, regulation or order applicable to the Purchaser or the Operating 

  
 12 

 
Partnership, the Company or their respective affiliates, as the case may be; (w) in response to any subpoena or other legal process; (x) in connection with any litigation to which the
Purchaser or the Operating Partnership, the Company or their respective affiliates, as the case may be, is a party; (y) in connection with the assumption by the Company of any debt; or (z) if an Event of Default (as such term is defined in
the Amendment) or other Optional Repurchase Event (as such term is defined in the Amendment) has occurred and is continuing, to the extent the Purchaser or the Operating Partnership, the Company or their respective affiliates, as the case may be,
may reasonably determine such delivery and disclosure to be necessary or appropriate in the enforcement or for the protection of the rights and remedies under this Agreement. Without the prior written consent of the Operating Partnership and the
Company, on the one hand, and the Purchaser, on the other hand, no party hereto may make an announcement, issue an advertisement or a press release, or otherwise make any publicly available statement concerning this Agreement or the transactions
contemplated hereby, other than as required by or pursuant to U.S. federal or state securities laws. Each holder of Preferred Units, by its acceptance of such Preferred Units, will be deemed to have agreed to be bound by and to be entitled to the
benefits of this Section 8. 
 Section 9. Survival. Subject to the limitations and other provisions of this
Agreement, the representations and warranties included in this Agreement, or included in certificates of officers of the Operating Partnership and the Company submitted pursuant hereto, shall remain operative and in full force and effect, regardless
of any investigation made by or on behalf of the Purchaser or any person controlling the Purchaser, or by or on behalf of the Operating Partnership and the Company, and shall survive delivery of and payment for the Preferred Units until the date
that is two (2) years after the final Closing Date; provided, that: (a) the representations and warranties in Section 1(b), Sections 1(f) through 1(i), Section 1(k), Sections 2(a) through 2(c) and Section 2(e) shall survive
indefinitely; and (b) the representations and warranties in Section 1(c), Section 1(d), Section 1(p), and Section 1(q) shall survive for the full period of all applicable statutes of limitations (giving effect to any waiver,
mitigation or extension thereof) plus sixty (60) days. All covenants, agreements (including as to confidentiality) and indemnities of the parties contained herein shall survive the final Closing Date indefinitely or for the period explicitly
specified therein; provided, that, with respect to indemnities for inaccuracies in or breaches of representations, such indemnities shall survive for the period specified for the applicable representations. 

Section 10. Notices. All notices and other communications hereunder shall be in writing and shall be deemed to have
been duly given if mailed or transmitted by any standard form of telecommunication. Notices to the Purchaser shall be directed to SSTI Preferred Investor, LLC, c/o SmartStop Self Storage, Inc., 111 Corporate Drive, Suite 120 Ladera Ranch, California
92694, Attention: H. Michael Schwartz; and notices to the Operating Partnership and the Company shall be directed to them at 111 Corporate Drive, Suite 120 Ladera Ranch, California 92694, Attention: H. Michael Schwartz. 

Section 11. Parties. This Agreement shall inure to the benefit of and be binding upon the Purchaser, the Operating
Partnership and the Company and their respective successors. Nothing expressed or mentioned in this Agreement is intended or shall be construed to give any person, firm or corporation any legal or equitable right, remedy or claim under or in respect
of this Agreement or any provision herein contained. This Agreement and all conditions and provisions hereof are intended to be for the sole and exclusive benefit of the parties hereto and their respective successors, and for the benefit of no other
person, firm or corporation. 

  
 13 

 Section 12. Governing Law. This Agreement shall be governed by and
construed in accordance with the laws of the State of Delaware applicable to agreements made and to be performed in said State. 

Section 13. Counterparts. This Agreement may be signed in two or more counterparts, each of which shall be an
original, with the same effect as if the signatures thereto and hereto were upon the same instrument. 
 Section 14.
Certain Defined Terms. The terms that follow, when used in this Agreement, shall have the meanings indicated. 

“Confidential Information” means information delivered either (i) to the Purchaser by or on behalf of the Operating
Partnership, the Company or their respective affiliates or (ii) to the Operating Partnership, the Company or their respective affiliates by or on behalf of the Purchaser, as the context may require, in each case in connection with the
transactions contemplated by or otherwise pursuant to this Agreement that is proprietary in nature; provided, that such term does not include information that (a) was publicly known prior to the time of such disclosure,
(b) subsequently becomes publicly known through no act or omission by the Purchaser or the Operating Partnership, the Company or their respective affiliates, as the case may be, or any person acting on such party’s behalf or
(c) otherwise becomes known to the Purchaser or the Operating Partnership, the Company or their respective affiliates, as the case may be, other than through the disclosure to such party by the Purchaser or the Operating Partnership, the
Company or their respective affiliates, as the case may be. 
 “Governmental Authority” shall mean any court, board,
agency, commission, office or other authority of any nature whatsoever for any governmental unit (federal, state, county, district, municipal, city or otherwise) whether now or hereafter in existence, including foreign Governmental Authorities. 

“Improvements” shall mean the buildings, structures, fixtures, building equipment, additions, enlargements, extensions,
modifications, repairs, replacements and improvements now or hereafter erected or located at any Property. 

“Indebtedness” shall mean, without duplication, the sum of the (i) indebtedness for borrowed money (excluding any
interest thereon), secured or unsecured (including but not limited to all senior financing facilities, senior mortgages and/or fixed-rate long term debt) (the “Senior Debt”), (ii) reimbursement obligations under any letters of
credit or similar instruments with regard to the Senior Debt, (iii) capitalized lease obligations, (iv) obligations under interest rate cap, swap, collar or similar transactions or currency hedging transactions (valued at the termination
value thereof) and (v) guarantees of any Indebtedness of the foregoing of any other person; provided, that Indebtedness shall not include “trade payables” incurred in the ordinary course of business and shall not include the
Investments. 
 “Initial Closing Date” shall mean November 3, 2014. 

“Legal Requirements” shall mean, collectively, all present and future laws, statutes, codes, ordinances, consents, approvals,
certifications, orders, judgments, decrees, injunctions, 

  
 14 

 
rules, regulations and requirements, and irrespective of the nature of the work to be done, of every Governmental Authority (including, without limitation, applicable environmental laws and all
covenants, restrictions and binding conditions now or hereafter of record) which may be applicable to (i) the Operating Partnership or the Company, (ii) all or any portion of any Property, including the Improvements thereon, and
(iii) the use, manner of use, occupancy, possession, operation, maintenance, alteration, repair or reconstruction of all or any portion of any Property thereon including, without limitation, building and zoning codes and any required variances,
and ordinances and laws relating to handicapped accessibility. 
 “Lien” shall mean any liens, mortgages, pledges, security
interests, claims, options, rights of first offer or refusal, charges, conditional or installment sale contracts, claims of third parties of any kind or other encumbrances. 

“Material Adverse Effect” with respect to any person shall mean any event, occurrence, development, change or effect that is,
or is reasonably likely to be, individually or in the aggregate, materially adverse to the business, prospects, properties, operating assets, financial condition or results of operations of such person and its Subsidiaries, taken as a whole;
provided, that, in no event shall the following, either individually or in the aggregate, in and of itself be deemed to constitute a “Material Adverse Effect”: (i) the failure by the Company to meet independent, third party
projections of earnings, revenue or other financial performance measures (provided, that the underlying facts, circumstances, operating results or prospects which cause the Company to fail to meet such projections may be considered in
determining whether a “Material Adverse Effect” has occurred or is reasonably likely to occur); (ii) fluctuations in the price or net asset value of the Common Stock; and (iii) the failure to obtain any tenant estoppel. 

“Partnership Agreement” shall have the meaning set forth in the recitals hereto. 

“Permitted Lien” shall mean, collectively (a) any Lien, encumbrances or other matters disclosed in a Title Insurance
Policy, (b) any Lien, if any, for Taxes imposed by any Governmental Authority not yet due or delinquent and (c) such other title and survey exceptions as the Purchaser has approved or may approve in writing in the Purchaser’s sole
discretion. 
 “Portfolio” shall mean the portfolio of self-storage properties described in Section 4(a) of this
Agreement, as well as any and all subsequent property acquisitions made by the Operating Partnership or the Company. 

“Property” shall mean each individual property listed in the Portfolio, including the Improvements thereon, and such
additional properties that may be acquired as part of the Portfolio. 
 “Registration Statement” shall mean the
Company’s registration statement on Form S-11, as amended (SEC File No. 333-190983). 
 “Taxes” shall mean all
real estate and personal property Taxes, assessments, water rates or sewer rents (excluding income Taxes), now or hereafter levied or assessed or imposed against the Portfolio or part thereof, together with all interest and penalties thereon. 

“Title Insurance Policy” means a policy of title insurance or title commitments. 

  
 15 

 Section 15. Headings. The headings of the sections of this Agreement
have been inserted for convenience of reference only and shall not be deemed a part of this Agreement. 
 [Signature Page Follows.]

  
 16 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the
date first above written. 
  

					
	 OPERATING PARTNERSHIP:

	 STRATEGIC STORAGE OPERATING

PARTNERSHIP II, L.P.

		
	By:	 	 Strategic Storage Trust II, Inc., its sole

general partner

		
	By:	 	  /s/ H. Michael Schwartz

		 	Name: H. Michael Schwartz
		 	Title:   Chief Executive Officer and President
	
	COMPANY:
	STRATEGIC STORAGE TRUST II, INC.
		
	By:	 	  /s/ H. Michael Schwartz

		 	Name: H. Michael Schwartz
		 	Title:   Chief Executive Officer and President
	
	PURCHASER:
	SSTI PREFERRED INVESTOR, LLC
		
	By:	 	SmartStop Self Storage, Inc.
		 	(Its Manager)
			
		 	By:	 	     /s/ H. Michael Schwartz

		 		 	    H. Michael Schwartz
		 		 	    Chief Executive Officer

 Signature Page to Series A Cumulative Redeemable Preferred Unit Purchase Agreement

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