Document:

merion_ex101.htm

EXHIBIT 10.1

 

SECURITIES PURCHASE AGREEMENT

 

This Securities Purchase Agreement (this “Agreement”) is dated as of February 15,2018 (the “Effective Date”) by and between Merion, Inc., a Nevada corporation (the “Company”) and CUI, LIEZHI (the “Purchaser”).

 

RECITALS

 

WHEREAS, subject to the terms and conditions set forth in this Agreement and pursuant to an exemption from the registration requirements of Section 5 of the Securities Act contained in Section 4(a)(2) thereof and/or Regulations D and S thereunder, the Company desires to issue and sell to the Purchaser, and the Purchaser desires to purchase from the Company, certain securities of the Company as more fully described in this Agreement.

 

NOW, THEREFORE, IN CONSIDERATION of the mutual covenants contained in this Agreement, and for other good and valuable consideration the receipt and adequacy of which are hereby acknowledged, the Company and the Purchaser agree as follows:

 

ARTICLE I. 

DEFINITIONS

 

1.1 Definitions. In addition to the terms defined elsewhere in this Agreement, the following terms have the meanings set forth in this Section 1.1:

 

“Affiliate” means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common control with a Person as such terms are used in, and construed, under Rule 405 under the Securities Act.

 

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

 

“Business Day” means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States or any day on which banking institutions in the State of New York are authorized or required by law or other governmental action to close.

 

“Closing” means the closing of the purchase and sale of the Shares pursuant to Section 2.1.

 

“Closing Date” means the day on which all of the Transaction Documents have been executed and delivered by the applicable parties thereto, and all conditions precedent to (i) the Purchaser’s obligations to pay the Subscription Amount and (ii) the Company’s obligations to deliver the Shares, in each case, have been satisfied or waived, but in no event later than March 31, 2018.

 

“Commission” means the United States Securities and Exchange Commission.

 

“Common Stock” means the common stock of the Company, par value $0.001 per share, and any other class of securities into which such securities may hereafter be reclassified or changed. 

 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

“Exchange Rules” shall mean the listing rules of The OTCQB Marketplace.

 

	 
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“Liens” means a lien, charge, pledge, security interest, encumbrance, right of first refusal, preemptive right or other restriction.

 

“Per Share Purchase Price” equals $0.90 per share of Common Stock, subject to adjustment for reverse and forward stock splits, stock combinations and other similar transactions of the Common Stock that may occur after the date of this Agreement.

 

“Person” means an individual, corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

 

“Required Approvals” shall have the meaning ascribed to such term in Section 3.1(c).

 

“Rule 144” means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose and effect as such Rule. 

 

“SEC Reports” shall have the meaning ascribed to such term in Section 3.1(f).

 

“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

“Securities Laws” means, collectively, the Sarbanes-Oxley Act of 2002, as amended (“Sarbanes-Oxley”), the Securities Act, the Exchange Act, the Rules and Regulations, the auditing principles, rules, standards and practices applicable to auditors of “issuers” (as defined in Sarbanes-Oxley) promulgated or approved by the Public Company Accounting Oversight Board, the Exchange Rules and applicable state securities laws and regulations. 

 

“Shares” means an aggregate of 33,334.00 shares of Common Stock to be issued to the Purchaser pursuant to this Agreement (the “Shares”).

 

“Short Sales” means all “short sales” as defined in Rule 200 of Regulation SHO under the Exchange Act (but shall not be deemed to include the location and/or reservation of borrowable shares of Common Stock).

 

“Subscription Amount” means, an aggregate amount of $30,000 to be paid for Shares purchased by the Purchaser in United States dollars and in immediately available funds.

 

“Subsidiary” means any subsidiary of the Company and shall, where applicable, also include any direct or indirect subsidiary of the Company formed or acquired after the date hereof.

 

“Trading Day” means a day on which the principal Trading Market is open for trading.

 

“Trading Market” means any of the following markets or exchanges on which the Common Stock is listed or quoted for trading on the date in question: the OTCQB or the OTC Pink Open Market (or any successors to any of the foregoing).

 

“Transaction Documents” means this Agreement, and any other documents or agreements executed between the Company and the Purchaser in connection with the transactions contemplated hereunder.

 

“Transfer Agent” means Worldwide Stock Transfer, LLC, the current transfer agent of the Company, with a mailing address of One University Plaza, Suite 505.Hackensack, NJ 07601, and any successor transfer agent of the Company.

 

	 
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ARTICLE II.

PURCHASE AND SALE

 

2.1 Closing. On the Closing Date, upon the terms and subject to the conditions set forth herein, the Company agrees to sell, and the Purchaser agrees to purchase, up to an aggregate of 33,334.00 of Shares. Upon receiving the Purchaser’s Subscription Amount on the Closing Date and the delivery by the Purchaser of the other items set forth in Section 2.2 deliverable at the Closing, the Company shall deliver the Shares to the Purchaser as determined pursuant to Section 2.2(a). 

 

2.2 Deliveries.

 

(a) On or prior to the Closing Date, the Company shall deliver or cause to be delivered to the Purchaser each of the following:

 

(i) this Agreement duly executed by the Company;

 

(ii) subject to the last sentence of Section 2.1, a copy of the irrevocable instructions to the Transfer Agent instructing the Transfer Agent to deliver the Shares equal to the Purchaser’s Subscription Amount divided by the Per Share Purchase Price, in the name of the Purchaser.

 

(b) On or prior to the Closing Date, the Purchaser shall deliver or cause to be delivered to the Company, as applicable, the following:

 

(i) this Agreement duly executed by the Purchaser; and

 

(ii) the Purchaser’s Subscription Amount by wire transfer to the bank account directed by the Company.

 

2.3 Closing Conditions.

 

(a) The obligations of the Company hereunder in connection with the Closing are subject to the following conditions being met:

 

(i) the accuracy when made and on the Closing Date of the representations and warranties of the Purchaser contained herein (unless as of a specific date therein in which case they shall be accurate as of such date); 

 

(ii) all obligations, covenants and agreements of the Purchaser required to be performed at or prior to the Closing Date shall have been performed; and

 

(iii) the delivery by the Purchaser of the items set forth in Section 2.2(b) of this Agreement on or prior to the Closing Date.

 

	 
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(b) The obligations of the Purchaser hereunder in connection with the Closing are subject to the following conditions being met:

 

(i) the accuracy when made and on the Closing Date of the representations and warranties of the Company contained herein (unless as of a specific date therein in which case they will be accurate as of such date); 

 

(ii) all obligations, covenants and agreements of the Company required to be performed at or prior to the Closing Date shall have been performed; 

 

(iii) the delivery by the Company of the items set forth in Section 2.2(a) of this Agreement on or prior to the Closing Date; and

 

(iv) there shall have been no material adverse effect with respect to the Company since the date hereof.

 

ARTICLE III.

REPRESENTATIONS AND WARRANTIES

 

3.1 Representations and Warranties of the Company. Except as indicated in the SEC Reports, the Company hereby represents and warrants to the Purchaser as of the date of this Agreement and as of the Closing Date as follows:

 

(a) Organization and Qualification. The Company and each of the Subsidiaries, if any, is an entity duly incorporated or otherwise organized and validly existing under the laws of each jurisdiction in which it owns or leases properties or conducts any business so as to require such qualification, with the requisite power and authority to own and use its properties and assets and to carry on its business as currently conducted. 

 

(b) Authorization; Enforcement. The Company has the requisite corporate power and authority to enter into and to consummate the transactions contemplated by this Agreement and each of the other Transaction Documents and otherwise to carry out its obligations hereunder and thereunder. The execution and delivery of this Agreement and each of the other Transaction Documents by the Company and the consummation by it of the transactions contemplated hereby and thereby have been duly authorized by all necessary action on the part of the Company and no further action is required by the Company, the Board of Directors or the Company’s stockholders in connection herewith or therewith other than in connection with the Required Approvals (as defined below).

 

(c) Filings, Consents and Approvals. The Company is not required to obtain any consent, waiver, authorization or order of, give any notice to, or make any filing or registration with, any governmental authority or any court or other federal, state, local or other governmental authority or other Person in connection with the execution, delivery and performance by the Company of the Transaction Documents or the offer, issue and sale of the Shares, other than: (i) the disclosure filing required for this Agreement, (ii) such filings as are required to be made under applicable state securities laws, and (iii) such consents, waivers and authorizations that shall be obtained prior to the Closing (collectively, the “Required Approvals”).

 

(d) Authorization of the Shares. The Shares to be sold by the Company and their issue and sale are duly authorized and, when issued and paid for in accordance with the applicable Transaction Documents, will be duly and validly issued, fully paid and free and clear of all Liens imposed by the Company.

 

(e) Capitalization. Except as may be described in the SEC Reports, all of the issued share capital of the Company has been duly and validly authorized and issued, is fully paid and non-assessable. 

 

	 
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(f) SEC Reports. The Company has filed all reports, schedules, forms, statements and other documents required to be filed by the Company under the Securities Act and the Exchange Act, including pursuant to Section 13(a) or 15(d) thereof, for the two years preceding the date hereof (or such shorter period as the Company was required by law or regulation to file such material) (the foregoing materials, including the exhibits thereto, documents incorporated by reference therein, being collectively referred to herein as the “SEC Reports”). 

 

(g) Investment Company. The Company is not, and is not an Affiliate of, and immediately after receipt of payment for the Shares, will not be or be an Affiliate of, an “investment company” within the meaning of the Investment Company Act of 1940, as amended. 

 

(h) No Broker. The Company has not employed any broker, finder or agent, nor become obligated in any way to pay any broker’s, finder’s or agent’s or similar fee with respect to the purchase and sale of the Shares.

 

3.2 Representations and Warranties of the Purchaser. The Purchaser hereby represents and warrants as of the date hereof and as of the Closing Date to the Company as follows (unless as made of a specific date stated therein, in which case they shall be accurate as of such date):

 

(a) Organization; Authority. The Purchaser is either an individual or an entity duly incorporated or formed, validly existing and in good standing under the laws of the jurisdiction of its incorporation or formation with full right, corporate, partnership, limited liability company or similar power and authority to enter into and to consummate the transactions contemplated by the Transaction Documents and otherwise to carry out its obligations hereunder and thereunder. The execution and delivery of the Transaction Documents and performance by the Purchaser of the transactions contemplated by the Transaction Documents have been duly authorized by all necessary corporate, partnership, limited liability company or similar action, as applicable, on the part of the Purchaser. Each Transaction Document to which it is a party has been duly executed by the Purchaser, and when delivered by the Purchaser in accordance with the terms hereof, will constitute the valid and legally binding obligation of the Purchaser, enforceable against it in accordance with its terms.

 

(b) Understandings or Arrangements. The Purchaser is acquiring the Shares for its own account and has no direct or indirect arrangement or understandings with any other persons to distribute or regarding the distribution of the Shares (this representation and warranty not limiting the Purchaser’s right to sell the Shares in compliance with applicable federal and state securities laws). The Purchaser is acquiring the Shares as principal, not as nominee or agent, and not with a view to or for distributing or reselling the Shares or any part thereof in violation of the Securities Act or any applicable state securities law.

 

(c) Foreign Investorstc. The Purchaser hereby represents that it has satisfied itself as to the full observance by the Purchaser of the laws of its jurisdiction applicable to the Purchaser in connection with the purchase of the Shares or the execution and delivery by the Purchaser of this Agreement and the Transaction Documents, including (i) the legal requirements within its jurisdiction for the purchase of the Shares, (ii) any foreign exchange restrictions applicable to the purchase, (iii) any governmental or other consents that may need to be obtained, and (iv) the income tax and other tax consequences, if any, that may be relevant to the Purchaser’s purchase, holding, redemption, sale, or transfer of the Shares. The Purchaser’s subscription and payment for, and continued beneficial ownership of, the Shares will not violate any securities or other laws of the Purchaser’s jurisdiction applicable to the Purchaser.

 

	 
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(d) Experience of Purchaser. The Purchaser, either alone or together with its representatives, has such knowledge, sophistication and experience in business and financial matters so as to be capable of evaluating the merits and risks of the prospective investment in the Shares, and has so evaluated the merits and risks of such investment. The Purchaser is able to bear the economic risk of an investment in the Shares and, at the present time, is able to afford a complete loss of such investment.

 

(e) Access to Information. The Purchaser acknowledges that it has had the opportunity to review the Transaction Documents and the SEC Reports and has been afforded (i) the opportunity to ask such questions as it has deemed necessary of, and to receive answers from, representatives of the Company concerning the terms and conditions of the offering of the Shares and the merits and risks of investing in the Shares; (ii) access to information about the Company and its financial condition, results of operations, business, properties, management and prospects sufficient to enable it to evaluate its investment; and (iii) the opportunity to obtain such additional information that the Company possesses or can acquire without unreasonable effort or expense that is necessary to make an informed investment decision with respect to the investment. 

 

(f) Regulation S. The Purchaser is a non-U.S. person (as such term is defined in Rule 902 of Regulation S under the Securities Act) and is not acquiring the Shares for the account or benefit of a U.S. person. The Purchaser will not, within six (6) months of the date of the transfer of the Shares to the Purchaser, (i) make any offers or sales of the Shares in the United States or to, or for the benefit of, a U.S. person (in each case, as defined in Regulation S) other than in accordance with Regulation S or another exemption from the registration requirements of the Securities Act, or (ii) engage in hedging transactions with regard to the Shares unless in compliance with the Securities Act. Neither the Purchaser nor any of the Purchaser’s Affiliates or any person acting on his/her or their behalf has engaged or will engage in directed selling efforts (within the meaning of Regulation S) with respect to the Shares, and all such persons have complied and will comply with the offering restriction requirements of Regulation S in connection with the offering of the Shares outside of the United States. 

 

(g) Certain Transactions and Confidentiality. Other than consummating the transactions contemplated hereunder, the Purchaser has not, nor has any Person acting on behalf of or pursuant to any understanding with the Purchaser, directly or indirectly executed any purchases or sales, including Short Sales, of the securities of the Company during the period commencing as of the time that the Purchaser first discussed the transaction with the Company or any other Person representing the Company setting forth the material terms of the transactions contemplated hereunder and ending on the date when this Agreement is publicly disclosed by the Company. The Purchaser has maintained the confidentiality of all disclosures made to it in connection with this transaction (including the existence and terms of this transaction).

 

(h) Purchaser Status. At the time the Purchaser was offered the Shares, it was, and as of the date hereof it is, an “accredited investor” as defined in Rule 501(a) under the Securities Act.

 

(i) No Registration. The Purchaser understands that the Shares have not been, and will not be, registered under the Securities Act or applicable securities laws of any state or country and therefore the Shares cannot be sold, pledged, assigned or otherwise disposed of unless they are subsequently registered under the Securities Act and applicable state securities laws or exemptions from such registration requirements are available. The Company shall be under no obligation to register the Shares under the Securities Act and applicable state securities laws, and any such registration shall be in the Company’s sole discretion.

 

(j) No General Solicitation. The Purchaser is not purchasing the Shares as a result of any advertisement, article, notice or other communication regarding the Shares published in any newspaper, magazine or similar media or broadcast over television or radio or presented at any seminar or any other general solicitation or general advertisement.

 

(k) Brokers or Finders. The Purchaser has not engaged any brokers, finders or agents, and the Company has not, nor will, incur, directly or indirectly, as a result of any action taken by the Purchaser, any liability for brokerage or finders’ fees or agents’ commissions or any similar charges in connection with this Agreement.

 

	 
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ARTICLE IV.

OTHER AGREEMENTS OF THE PARTIES

 

4.1 Reservation of Securities. As of the date hereof, the Company has reserved and the Company shall continue to reserve and keep available at all times, free of preemptive rights, a sufficient number of shares of Common Stock for issuance pursuant to the Transaction Documents in such amount as may then be required to fulfill its obligations in full under the Transaction Documents. 

 

4.2 Certain Transactions and Confidentiality. The Purchaser covenants that neither it nor any Affiliate acting on its behalf or pursuant to any understanding with it will execute any purchases or sales, including Short Sales of any of the Company’s securities during the period commencing with the execution of this Agreement and ending on the date when this Agreement is publicly disclosed by the Company. The Purchaser also covenants that until such time as the transactions contemplated by this Agreement are publicly disclosed by the Company, the Purchaser will maintain the confidentiality of the existence and terms of this transaction. 

 

4.3 Legends. The Shares may only be disposed of in compliance with state and federal securities laws. In connection with any transfer of Shares other than pursuant to an effective registration statement or Rule 144, to the Company or to an Affiliate of the Purchaser or in connection with a pledge as contemplated in this Section 4.3, the Company may require the transferor thereof to provide to the Company an opinion of counsel selected by the transferor and reasonably acceptable to the Company, the form and substance of which opinion shall be reasonably satisfactory to the Company, to the effect that such transfer does not require registration of such transferred Shares under the Securities Act. The Purchaser agrees to the imprinting, so long as is required by this Section 4.3, of a legend on all of the certificates evidencing the Shares in the following form:

 

THIS SECURITY HAS NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS.

 

ARTICLE V.

MISCELLANEOUS

 

5.1 Termination. This Agreement may be terminated by the Company or the Purchaser by written notice to the other party if the Closing has not been consummated on or before March 31, 2018; provided, however, that no such termination will affect the right of any party to sue for any breach by any other party (or parties).

 

	 
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5.2 Fees and Expenses. Except as expressly set forth in the Transaction Documents to the contrary, each party shall pay the fees and expenses of its advisers, counsel, accountants and other experts, if any, and all other expenses incurred by such party incident to the negotiation, preparation, execution, delivery and performance of this Agreement. 

 

5.3 Entire Agreement. The Transaction Documents contain the entire understanding of the parties with respect to the subject matter hereof and thereof and supersede all prior agreements and understandings, oral or written, with respect to such matters, which the parties acknowledge have been merged into such documents, exhibits and schedules.

 

5.4 Notices. Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and shall be deemed given and effective on the earliest of: (a) the date of transmission, if such notice or communication is delivered via facsimile at or prior to 5:30 p.m. (New York City time) on a Trading Day, (b) the next Trading Day after the date of transmission, if such notice or communication is delivered via facsimile on a day that is not a Trading Day or later than 5:30 p.m. (New York City time) on any Trading Day, (c) the second (2nd) Trading Day following the date of mailing, if sent by U.S. nationally recognized overnight courier service or (d) upon actual receipt by the party to whom such notice is required to be given. The address for such notices and communications shall be as set forth on the signature pages attached hereto.

 

5.5 Amendments; Waivers. No provision of this Agreement may be waived, modified, supplemented or amended except in a written instrument signed, in the case of an amendment, by the Company and the Purchaser, in the case of a waiver, by the party against whom enforcement of any such waived provision is sought. No waiver of any default with respect to any provision, condition or requirement of this Agreement shall be deemed to be a continuing waiver in the future or a waiver of any subsequent default or a waiver of any other provision, condition or requirement hereof, nor shall any delay or omission of any party to exercise any right hereunder in any manner impair the exercise of any such right.

 

5.6 Headings. The headings herein are for convenience only, do not constitute a part of this Agreement and shall not be deemed to limit or affect any of the provisions hereof.

 

5.7 Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors and permitted assigns. No party hereto may assign this Agreement or any rights or obligations hereunder without the prior written consent of the Company and the Purchaser. 

 

5.8 No Third-Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective successors and permitted assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other Person, except as otherwise set forth in this Section 5.8.

 

5.9 Governing Law. All questions concerning the construction, validity, enforcement and interpretation of the Transaction Documents shall be governed by and construed and enforced in accordance with the internal laws of the State of Nevada, without regard to the principles of conflicts of law thereof. Each party agrees that all legal proceedings concerning the interpretations, enforcement and defense of the transactions contemplated by this Agreement and any other Transaction Documents (whether brought against a party hereto or its respective affiliates, directors, officers, shareholders, partners, members, employees or agents) shall be commenced exclusively in the state and federal courts sitting in the Clark County, Nevada. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in Clark County, Nevada, for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein (including with respect to the enforcement of any of the Transaction Documents), and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is improper or is an inconvenient venue for such proceeding. Each party hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted by law. 

 

	 
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5.10 Survival. The representations and warranties contained herein shall survive the Closing and the delivery of the Shares. The terms of this Article V shall survive any termination of the Agreement pursuant to Section 5.1. 

 

5.11 Execution. This Agreement may be executed in two or more counterparts, all of which when taken together shall be considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to each other party, it being understood that the parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission or by e-mail delivery of a “.pdf” format data file, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile or “.pdf” signature page were an original thereof.

 

5.12 Severability. If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their commercially reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that they would have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be hereafter declared invalid, illegal, void or unenforceable.

 

5.13 Saturdays, Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right required or granted herein shall not be a Business Day, then such action may be taken or such right may be exercised on the next succeeding Business Day.

 

5.14 Construction. The parties agree that each of them and/or their respective counsel have reviewed and had an opportunity to revise the Transaction Documents and, therefore, the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of the Transaction Documents or any amendments thereto. In addition, each and every reference to share prices and shares of Common Stock in any Transaction Document shall be subject to adjustment for reverse and forward stock splits, stock combinations and other similar transactions of the Common Stock that occur after the date of this Agreement. The English version of this Agreement, regardless of whether a translation in any other language is or will be made, shall be the only authentic version.

 

5.15 WAIVER OF JURY TRIAL. IN ANY ACTION, SUIT, OR PROCEEDING IN ANY JURISDICTION BROUGHT BY ANY PARTY AGAINST ANY OTHER PARTY, THE PARTIES EACH KNOWINGLY AND INTENTIONALLY, TO THE GREATEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY ABSOLUTELY, UNCONDITIONALLY, IRREVOCABLY AND EXPRESSLY WAIVES FOREVER TRIAL BY JURY. 

 

(Signature Pages Follow)

 

	 
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IN WITNESS WHEREOF, the parties hereto have caused this Securities Purchase Agreement to be duly executed by their respective authorized signatories as of the date first indicated above.

 

 

	
COMPANY

 

MERION, INC.
	
	 	 	 
	By:		
	
Name:
	
DING HUA WANG
	 
	Title:	
CEO
	 
	 		 
	
Address for Notice:

9550 Flair Dr, Suite 302

El Monte CA 91731

Fax:: 626-448-2163

Email: info@merionus.com
	
 

	
 
	
 
	
 

	
PURCHASER
	
 

	
 
	
 
	
 

	
By:
	
 
	
 

	
Name:
	
CUI, LIEZHI
	
 

	
Address: 
	
 
	
 

	
 
	
 
	
 

	
Tel: 
	
 
	
 

	
Fax: 
	
 
	
 

	
Email: 
	
 
	
 

 

 

	
Page 10 of 10Exhibit 10.1

 

EXECUTION VERSION

 

PURCHASE AGREEMENT 

 

by and among 

 

BENEFIT STREET PARTNERS REALTY TRUST, INC.

 

and 

 

THE PURCHASERS NAMED ON SCHEDULE A
HERETO

 

     

     

    

 

TABLE OF CONTENTS

 

	 	ARTICLE I	 
	 	DEFINITIONS	 
	 	 	 
	Section 1.1	Definitions	1
	 	 	 
	 	ARTICLE II	 
	 	AGREEMENT TO SELL AND PURCHASE	 
	 	 	 
	Section 2.1	Sale and Purchase	5
	Section 2.2	Closings	5
	Section 2.3	Each Purchaser’s Conditions	5
	Section 2.4	Company’s Conditions	6
	Section 2.5	Deliverables by the Company	6
	Section 2.6	Purchaser Deliverables	6
	Section 2.7	Independent Nature of Purchasers’ Obligations and Rights	7
	 	 	 
	 	ARTICLE III	 
	 	REPRESENTATIONS AND WARRANTIES OF THE COMPANY	 
	 	 	 
	Section 3.1	Accurate Disclosure	7
	Section 3.2	Independent Accountants	7
	Section 3.3	Financial Statements; Non-GAAP Financial Measures	8
	Section 3.4	No Material Adverse Change in Business	8
	Section 3.5	Good Standing of the Company	8
	Section 3.6	Good Standing of Subsidiaries	8
	Section 3.7	Authorization of the Common Stock	8
	Section 3.8	No Preemptive or Registration Rights	8
	Section 3.9	Description of Common Stock	8
	Section 3.10	Authorization of Agreement; Enforceability	9
	Section 3.11	Authorization of Transactions	9
	Section 3.12	Absence of Violations, Defaults and Conflicts	9
	Section 3.13	Absence of Proceedings	9
	Section 3.14	Accounting Controls	10
	Section 3.15	Investment Company Act	10
	Section 3.16	No General Solicitation; No Advertising	10
	Section 3.17	No Registration Required	10
	Section 3.18	No Integration	10
	Section 3.19	No Side Agreements	 
	 	 	 
	 	ARTICLE IV	 
	 	REPRESENTATIONS AND WARRANTIES OF THE PURCHASERS	 
	 	 	 
	Section 4.1	Existence	10
	Section 4.2	Authorization, Enforceability	11
	Section 4.3	No Breach	11
	Section 4.4	Certain Fees	11
	Section 4.5	Investment	11
	Section 4.6	Nature of Purchaser	12
	Section 4.7	Restricted Securities	12
	Section 4.8	Reliance Upon such Purchaser’s Representations and Warranties	12
	Section 4.9	Legend; Restrictive Notation	12
	Section 4.10	Company Information	13
	Section 4.11	Anti-Money Laundering	13
	Section 4.12	FATCA	14
	Section 4.13	Share Repurchase Programs	15
	Section 4.14	Lock-Up	15

 

    	 	i	 

     

    

 

	 	ARTICLE V	 
	 	COVENANTS	 
	 	 	 
	Section 5.1	Taking of Necessary Action	15
	Section 5.2	Registration Rights	16
	 	 	 
	 	ARTICLE VI	 
	 	INDEMNIFICATION	 
	 	 	 
	Section 6.1	Indemnification by the Company	16
	Section 6.2	Indemnification by Purchasers	17
	Section 6.3	Indemnification Procedure	17
	 	 	 
	 	ARTICLE VII	 
	 	MISCELLANEOUS	 
	 	 	 
	Section 7.1	Interpretation and Survival of Provisions	18
	Section 7.2	Survival of Provisions	18
	Section 7.3	No Waiver; Modifications in Writing	18
	Section 7.4	Binding Effect; Assignment	19
	Section 7.5	Confidentiality	19
	Section 7.6	Communications	19
	Section 7.7	Removal of Legend	20
	Section 7.8	Entire Agreement	20
	Section 7.9	Governing Law	20
	Section 7.10	Execution in Counterparts	20
	Section 7.11	Termination	20
	Section 7.12	Recapitalization, Exchanges, Etc. Affecting the Common Stock	21
	Section 7.13	Joinder	21

 

Schedule A — List of Purchasers and Commitment Amounts

Schedule B — Notice and Contact Information

Schedule C — Operating Subsidiaries

Schedule D — Investor Information Questionnaire

Schedule E — Joinder Agreement

 

    	 	ii	 

     

    

 

PURCHASE AGREEMENT

 

This PURCHASE AGREEMENT, dated as of February
[ ], 2018 (this “Agreement”), is by and among BENEFIT STREET PARTNERS REALTY TRUST, INC., a Maryland corporation
(the “Company”), and each of the purchasers listed on Schedule A hereto (each, a “Purchaser”
and collectively, the “Purchasers”).

 

WHEREAS, the Company desires to issue and sell
to the Purchasers, and each Purchaser desires to purchase from the Company, shares of common stock of the Company, $0.01 par value
(the “Common Stock”) in accordance with the provisions of this Agreement.

 

NOW THEREFORE, in consideration of the mutual
covenants and agreements set forth herein and for good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the Company and each of the Purchasers, severally and not jointly, hereby agree as follows:

 

ARTICLE
I

 

DEFINITIONS

 

Section 1.1Definitions. As used
in this Agreement, and unless the context requires a different meaning, the following terms have the meanings indicated:

 

“1940 Act” has the meaning
specified in Section 3.15.

 

“Affiliate” has the meaning
specified in the Securities Act.

 

“Agreement” has the meaning
specified in the preamble to this Agreement.

 

“Agreements and Instruments”
has the meaning specified in Section 3.12.

 

“Business Day” means any
day other than a Saturday, Sunday, any federal holiday or any other day on which banking institutions in the State of New York
are authorized or required to be closed by law or governmental action.

 

“Charter” means the Articles
of Amendment and Restatement of Benefit Street Partners Realty Trust, Inc., effective as of August 16, 2017.

 

“Close Associate of a Senior Foreign
Political Figure” means a person who is widely and publicly known internationally to maintain an unusually close relationship
with the Senior Foreign Political Figure, and includes a person who is in a position to conduct substantial domestic and international
financial transactions on behalf of the Senior Foreign Political Figure.

 

“Closing” has the meaning
specified in Section 2.2.

 

“Committed Shares” means,
with respect to a particular Purchaser, the number of shares set forth opposite such Purchaser’s name under the column titled
“Committed Shares” set forth on Schedule A, as adjusted after each Closing for any purchases of shares from
such Purchaser at such Closing. No Purchaser will have any obligations to acquire any Committed Shares not purchased by the Company
pursuant to Section 2.2 of this Agreement after the End Date.

 

“Commitment Period” means
the twelve (12) month period commencing as of the date of this Agreement and ending on February [ ], 2019.

 

“Commission” means the United
States Securities and Exchange Commission.

 

    	 	1	 

     

    

 

“Common Stock” has the meaning
specified in the recitals to this Agreement.

 

“Common Stock Price” means
a 10% discount to the GAAP book value per share of the Common Stock (“Book Value”) as of December 31, 2017, as calculated
based on the Company’s Form 10-K for the year ended December 31, 2017 as filed with the Commission.1
In the event of a Closing prior to the filing of such Form 10-K, the parties agree that “Common Stock Price” used to
determine the funding at such Closing will be the Company’s reasonable estimate of a 10% discount to Book Value as of December
31, 2017, and that the parties will make any reconciling adjustments within five Business Days of the filing of the Company’s
Form 10-K to address differences between the estimated and the actual amount paid at such Closing based on the final Book Value
as of December 31, 2017, as calculated based on the Form 10-K. The Common Stock Price shall be adjusted appropriately to reflect
the effect of any stock split, reverse stock split, stock dividend (including any dividend or other distribution of securities
convertible into Common Stock of the Company), reorganization, recapitalization, reclassification, combination, exchange of shares
or other like change with respect to the number shares of Common Stock outstanding after the date hereof and prior to any Closing.

 

“Company” has the meaning
specified in the preamble to this Agreement.

 

“Company Entities” has the
meaning specified in Section 3.12.

 

“Company Related Parties”
has the meaning specified in Section 6.2.

 

“Company SEC Documents” has
the meaning specified in Section 3.1.

 

“End Date” means February
[ ], 2020, which is the date that is twelve (12) months after the end of the Commitment Period.

 

“Exchange Act” means the
Securities Exchange Act of 1934, as amended from time to time, and the rules and regulations of the Commission promulgated thereunder.

 

“Exchange Act Regulations”
has the meaning specified in Section 3.14.

 

“FATCA” means (a) Sections
1471 to 1474 of the Code and any associated legislation, regulations or guidance, or similar legislation, regulations or guidance
enacted in any jurisdiction which seeks to implement similar tax reporting and/or withholding tax regimes; (b) the intergovernmental
agreement entered into between the Cayman Islands Government and the Government of the United States on 29 November 2013 (“US
IGA”), to give effect to the U.S. Foreign Account Tax Compliance Act and Rules promulgated thereunder, the intergovernmental
agreement entered into between the Cayman Islands Government and the United Kingdom on 5 November 2013 (“UK IGA”) and,
together with the US IGA, the “IGAs”) and any intergovernmental agreement, treaty, regulation, guidance or other agreement
between the Cayman Islands Government (or any Cayman Islands government body) and the US, UK or any other participating jurisdiction
(including any government bodies in such jurisdiction), entered into in order to comply with, facilitate, supplement, implement
or give effect to: (i) the legislation, regulations or guidance described above; or (ii) any similar regime, including any automatic
exchange of information regime arising from or in connection with the OECD Common Reporting Standard (“CRS”); and (c)
any legislation, regulations or guidance in the Cayman Islands that gives effect to the matters outlined in the preceding paragraph
(i) including without limitation the Tax Information Authority (International Tax Compliance) (United States of America) Regulations,
2014 (“US FATCA Regulations”), the Tax Information Authority (International Tax Compliance) (United Kingdom) Regulations,
2014 (“UK FATCA Regulations”), the Tax Information Authority (International Tax Compliance) (Common Reporting Standard)
Regulations, 2015 (“CRS Regulations”) and, together with the US FATCA Regulations and UK FATCA Regulations, the “Cayman
Regulations”) and the Guidance Notes on the International Tax Compliance Requirements of the Intergovernmental Agreements
Between the Cayman Islands and the United States of America and the United Kingdom, as amended from time to time, and any further
guidance issued in relation to the CRS Regulations (“Cayman Guidance Notes”).

 

 

1 For illustrative
purposes only, a 10% discount to the GAAP book value per share of the Common Stock as of September 30, 2017 is $17.16 (i.e. 10%
discount to $19.07).

 

    	 	2	 

     

    

 

“Foreign Shell Bank” means
a Foreign Bank without a Physical Presence in any country, but does not include a Regulated Affiliate. A “Foreign Bank”
means an organization that (i) is organized under the laws of a foreign country, (ii) engages in the business of banking, (iii)
is recognized as a bank by the bank supervisory or monetary authority of the country of its organization or principal banking operations,
(iv) receives deposits to a substantial extent in the regular course of its business, and (v) has the power to accept demand deposits,
but does not include the U.S. branches or agencies of a foreign bank. “Physical Presence” means a place of business
that is maintained by a Foreign Bank and is located at a fixed address, other than solely a post office box or an electronic address,
in a country in which the Foreign Bank is authorized to conduct banking activities, at which location the Foreign Bank (i) employs
one or more individuals on a full-time basis, (ii) maintains operating records related to its banking activities, and (iii) is
subject to inspection by the banking authority that licensed the Foreign Bank to conduct banking activities. “Regulated Affiliate”
means a Foreign Shell Bank that (i) is an affiliate of a depository institution, credit union or Foreign Bank that maintains a
Physical Presence in the U.S. or a foreign country regulating such affiliated depository institution, credit union or Foreign Bank.

 

“GAAP” has the meaning specified
in Section 3.3.

 

“Governmental Entity” has
the meaning specified in Section 3.12.

 

“Indemnified Party” has the
meaning specified in Section 6.3.

 

“Indemnifying Party” has
the meaning specified in Section 6.3.

 

“Joinder Agreement” means
the form of joinder agreement to this Agreement attached as Schedule E.

 

“Law” means any federal,
state, local or foreign order, writ, injunction, judgment, settlement, award, decree, statute, law, rule or regulation.

 

“Lien” means any interest
in Property securing an obligation owed to, or a claim by, a Person other than the owner of the Property, whether such interest
is based on the common law, statute or contract, and whether such obligation or claim is fixed or contingent, and including the
lien or security interest arising from a mortgage, encumbrance, pledge, security agreement, conditional sale or trust receipt or
a lease, consignment or bailment for security purposes. For the purpose of this Agreement, a Person shall be deemed to be the owner
of any Property that it has acquired or holds subject to a conditional sale agreement, or leases under a financing lease or other
arrangement pursuant to which title to the Property has been retained by or vested in some other Person in a transaction intended
to create a financing.

 

“Liquidity Event” is any
of the following: (i) the listing of the Common Stock on a national securities exchange or quotation on an electronic inter-dealer
quotation system (a “Listing Event”); (ii) a merger or business combination involving the Company pursuant to which
outstanding shares of the Common Stock are exchanged for securities of another company which are listed on a national securities
exchange or quoted on an electronic inter-dealer quotation system; or (iii) the approval of a plan of liquidation of the Company.

 

“Material Adverse Effect”
means a material adverse effect on the management, condition (financial or otherwise), results of operations, business or properties
of the Company and its Subsidiaries, taken as a whole; provided, however, that a Material Adverse Effect shall not include any
material and adverse effect on the foregoing to the extent such material and adverse effect results from, arises out of, or relates
to (x) a general deterioration in the economy or changes in the general state of the industries in which the Company operates,
except to the extent that the Company, taken as a whole, is adversely affected in a disproportionate manner as compared to other
industry participants, (y) the outbreak or escalation of hostilities involving the United States, the declaration by the United
States of a national emergency or war or the occurrence of any other calamity or crisis, including acts of terrorism or (z) any
change in accounting requirements or principles imposed upon the Company and its Subsidiaries or their respective businesses or
any change in applicable Law, or the interpretation thereof.

 

    	 	3	 

     

    

 

“Non-Cooperative Jurisdiction”
means any foreign country that has been designated as non-cooperative with international anti-money laundering principles or procedures
by an intergovernmental group or organization, such as the Financial Task Force on Money Laundering, of which the U.S. is a member
and with which designation the U.S. representative to the group or organization continues to concur.

 

“Operating Subsidiary” means
each of the entities listed on Schedule C hereto.

 

“Person” means an individual
or a corporation, limited liability company, partnership, joint venture, trust, unincorporated organization, association, government
agency or political subdivision thereof or other form of entity.

 

“Prohibited Purchaser” means
a person or entity whose name appears on (i) the List of Specially Designated Nationals and Blocked Persons maintained by the U.S.
Office of Foreign Assets Control; (ii) other lists of prohibited persons and entities as may be mandated by applicable law or regulation;
or (iii) such other lists of prohibited persons and entities as may be provided to the Company in connection therewith.

 

“Property” means any interest
in any kind of property or asset, whether real, personal or mixed, or tangible or intangible.

 

“Purchase Price” means, with
respect to a particular Purchaser at a particular Closing, an amount equal to the shares to be settled for the account of such
Purchaser at such Closing multiplied by the Common Stock Price.

 

“Purchased Shares” means,
with respect to a particular Purchaser, the number of shares identified by the Company in a notice of Closing provided to such
Purchaser in accordance with Section 2.2 of this Agreement; provided, however, that the Purchased Shares shall be
allocated pro rata in amounts that are proportionate to the Committed Shares of each Purchaser, as reflected on Schedule A hereto;
provided, further, that the aggregate number of Purchased Shares for a Purchaser for all Closings shall not exceed
the Committed Shares of such Purchaser.

 

“Purchaser” and “Purchasers”
means each Person identified on Schedule A and each such other Person that has executed a Joinder Agreement. During the
Commitment Period, the Company may enter into one or more Joinder Agreements to include additional Persons as Purchasers and will
update Schedule A accordingly to reflect any such additional Purchasers.

 

“Purchaser Related Parties”
has the meaning specified in Section 6.1.

 

“Representatives” of any
Person means the Affiliates, officers, directors, managers, employees, agents, counsel, accountants, investment bankers, investment
advisers and other representatives of such Person.

 

“Securities Act” means the
Securities Act of 1933, as amended from time to time, and the rules and regulations of the Commission promulgated thereunder.

 

“Senior Foreign Political Figure”
shall mean a senior official in the executive, legislative, administrative, military or judicial branches of a foreign government
(whether elected or not), a senior official of a major foreign political party, or a senior executive of a foreign government-owned
corporation. In addition, a Senior Foreign Political Figure includes any corporation, business or other entity that has been formed
by, or for the benefit of, a Senior Foreign Political Figure.

 

    	 	4	 

     

    

 

ARTICLE
II

 

AGREEMENT TO SELL AND PURCHASE

 

Section 2.1Sale and Purchase. Subject
to the terms and conditions hereof, each Purchaser hereby agrees, severally and not jointly, to purchase from the Company, at
one or more closings as set forth in Section 2.2 of this Agreement, its respective Committed Shares, and each Purchaser agrees,
severally and not jointly, to pay the Company the Common Stock Price for each Purchased Share. Subject to the terms and conditions
hereof, the Company hereby agrees to issue and sell to each Purchaser its respective Purchased Shares at the Common Stock Price
for each Purchased Share.

 

Section 2.2Closings. Pursuant to
the terms of this Agreement, the settlement of the purchase and sale of any Purchased Shares will occur at one or more closings,
the timing of which will be determined in the sole discretion of the Company (each, a “Closing”), subject to
the provisions of this Agreement. From the date of this Agreement to the End Date, a Closing with respect to the Committed Shares
of each Purchaser shall occur upon the Company providing such Purchaser written notice at least five (5) business days in advance
of the date of such Closing (the “Closing Date”), which such notice shall identify the amount of Committed
Shares to be sold by the Company to such Purchaser and settled at such Closing (the “Purchased Shares”), and
the Closing Date. The amount of Purchased Shares to be sold to each Purchaser at a Closing will be determined by the Company on
a pro rata basis, based on the remaining Committed Shares of all Purchasers, as reflected on Schedule A, as of the date
of such Closing. The parties agree that the Closings may occur via delivery of electronic mail transmissions, .pdf transmissions,
facsimiles or photocopies of this Agreement and the closing deliverables contemplated hereby. The Closings shall take place at
the offices of Hogan Lovells US LLP, 555 Thirteenth Street, NW, Washington, District of Columbia 20004 at 10:00 a.m. (Eastern
Time) on the applicable day, or at such other time as the Company and the Purchasers determine. Unless otherwise provided herein,
all proceedings to be taken and all documents to be executed and delivered by all parties at a Closing will be deemed to have
been taken and executed simultaneously, and no proceedings will be deemed to have been taken nor documents executed or delivered
until all have been taken.

 

Section 2.3Each Purchaser’s Conditions.
The obligation of each Purchaser to consummate the purchase of Purchased Shares at a Closing shall be subject to the satisfaction
on or prior to such Closing of each of the following conditions (any or all of which may be waived by a particular Purchaser on
behalf of itself in writing with respect to its Purchased Shares at such Closing, in whole or in part, to the extent permitted
by applicable Law):

 

(a)       the
Company shall have performed and complied with the covenants and agreements contained in this Agreement that are required to be
performed and complied with by the Company on or prior to the Closing;

 

(b)       (i)
the representations and warranties of the Company contained in this Agreement that are qualified by materiality or a Material Adverse
Effect shall be true and correct when made and as of the Closing and (ii) all other representations and warranties of the Company
contained in this Agreement shall be true and correct in all material respects when made and as of the Closing, in each case as
though made at and as of the Closing (except that representations and warranties made as of a specific date shall be required to
be true and correct as of such date only); and

 

    	 	5	 

     

    

 

(c)       the
Company shall have delivered, or caused to be delivered, to such Purchaser the Company’s closing deliverables described in
Section 2.5.

 

Section 2.4Company’s Conditions.
The obligation of the Company to consummate the issuance and sale of Purchased Shares to each Purchaser at a Closing shall be
subject to the satisfaction on or prior to such Closing of each of the following conditions with respect to such Purchaser (any
or all of which may be waived by the Company in writing, in whole or in part, to the extent permitted by applicable Law):

 

(a)       (i)
the representations and warranties of such Purchaser contained in this Agreement that are qualified by materiality shall be true
and correct when made and as of the Closing and (ii) all other representations and warranties of such Purchaser shall be true and
correct in all material respects as of the Closing (except that representations of such Purchaser made as of a specific date shall
be required to be true and correct as of such date only);

 

(b)       such
Purchaser shall have performed and complied with the covenants and agreements contained in this Agreement that are required to
be performed and complied with by that Purchaser on or prior to the Closing; and

 

(c)       such
Purchaser shall have delivered, or caused to be delivered, to the Company at the Closing such Purchaser’s closing deliverables
described in Section 2.6.

 

Section 2.5Deliverables by the Company.
Upon the terms and subject to the conditions of this Agreement, at a Closing the Company will deliver (or cause to be delivered)
the following:

 

(a)       
evidence of the shares settled at such Closing credited to book-entry accounts maintained by the Company’s transfer agent,
bearing the legend or restrictive notation set forth in Section 4.9, free and clear of any Liens, other than transfer restrictions
under the Company’s Charter and applicable federal and state securities laws;

 

(b)       with
respect to the first Closing, a certificate of the Maryland State Department of Assessments and Taxation, dated as of a recent
date, to the effect that the Company is in good standing;

 

(c)       a
cross receipt executed by the Company and delivered to such Purchaser certifying that it has received the Purchase Price from such
Purchaser with respect to the shares settled at such Closing; and

 

(d)       with
respect to the first Closing, a certificate of the Secretary of the Company, certifying as to (1) the Charter and bylaws of
the Company, (2) resolutions of the board of directors of the Company, authorizing the execution and delivery of this Agreement
and the consummation of the transactions contemplated hereby, including the issuance of the Purchased Shares and (3) the incumbency
of the officers authorized to execute this Agreement, setting forth the name and title and bearing the signatures of such officers.

 

Section 2.6Purchaser Deliverables.
Upon the terms and subject to the conditions of this Agreement, at a Closing, each Purchaser will deliver (or cause to be delivered)
the following:

 

    	 	6	 

     

    

 

(a)       the
Purchase Price payable by such Purchaser, by wire transfer of immediately available funds to an account designated by the Company;

 

(b)       with
respect to a Purchaser’s first Closing, a Form W-9 executed by such Purchaser, or, for any non-U.S. Purchaser, the applicable
Form W-8 for such non-U.S. Purchaser with any required attachments; and

 

(c)       a
cross-receipt executed by such Purchaser and delivered to the Company certifying that such Purchaser has received the shares settled
at such Closing from the Company.

 

Section 2.7Independent Nature of Purchasers’
Obligations and Rights. The obligations of each Purchaser under this Agreement are several and not joint with the obligations
of any other Purchaser, and no Purchaser shall be responsible in any way for the performance of the obligations of any other Purchaser
under this Agreement. Nothing contained herein, and no action taken by any Purchaser pursuant thereto, shall be deemed to constitute
the Purchasers as a partnership, an association, a joint venture or any other kind of group or entity, or create a presumption
that the Purchasers are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated
by this Agreement. Each Purchaser shall be entitled to independently protect and enforce its rights, including without limitation,
the rights arising out of this Agreement, and it shall not be necessary for any other Purchaser to be joined as an additional
party in any proceeding for such purpose. The failure or waiver of performance by any Purchaser does not excuse performance by
any other Purchaser or by the Company with respect to the other Purchasers.

 

ARTICLE
III

 

REPRESENTATIONS AND WARRANTIES OF THE COMPANY

 

The Company represents and warrants to each
Purchaser as follows:

 

Section 3.1Accurate Disclosure.
All forms, registration statements, reports, schedules and statements required to be filed by the Company under the Exchange Act
or the Securities Act (all such documents, including the exhibits thereto, prior to the date hereof, collectively, the “Company
SEC Documents”) have been filed with the Commission. The Company SEC Documents, including, without limitation, any audited
or unaudited financial statements and any notes thereto or schedules included therein, at the time filed (or, in the case of registration
statements, solely on the dates of effectiveness) (except to the extent corrected by a subsequent Company SEC Document) (a) did
not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary
in order to make the statements therein, in light of the circumstances under which they were made, not misleading, and (b) complied
as to form in all material respects with the applicable requirements of the Exchange Act and the Securities Act, as applicable.

 

Section 3.2Independent Accountants.
KPMG LLP and Ernst & Young LLP, accountants who have reviewed and/or certified the financial statements included in the Company
SEC Documents, are independent public accountants as required by the Securities Act, the Securities Act Regulations and the Public
Company Accounting Oversight Board.

 

    	 	7	 

     

    

 

Section 3.3Financial Statements; Non-GAAP
Financial Measures. The historical consolidated financial statements of the Company,
included in the Company SEC Documents, together with the related schedules and notes thereto, present fairly in all material respects
the financial position, results of operations and cash flows of the Company, at the dates indicated and for the periods specified;
said financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“GAAP”)
applied on a consistent basis throughout the periods involved. Except as included therein, no historical financial statements
or supporting schedules are required to be included or incorporated by reference in the Company SEC Documents under the Securities
Act, the Securities Act Regulations, the Exchange Act, or the Exchange Act Regulations. All disclosures contained in the Company
SEC Documents regarding “non-GAAP financial measures” (as such term is defined by the rules and regulations of the
Commission) comply with Regulation G of the Exchange Act and Item 10 of Regulation S-K promulgated by the Commission, to the extent
applicable.

 

Section 3.4No Material Adverse Change
in Business. Since September 30, 2017, no event or circumstance has occurred that, individually or in the aggregate, has had
or would reasonably be expected to have a Material Adverse Effect.

 

Section 3.5Good Standing of the Company.
The Company has been duly organized and is validly existing as a corporation in good standing under the laws of the State of Maryland
and has corporate power and authority to conduct its business as described in the Company SEC Documents and to enter into and
perform its obligations under this Agreement; and the Company is duly qualified as a foreign corporation to transact business
and is in good standing or equivalent status in each other jurisdiction in which such qualification is required, except where
the failure so to qualify or to be in good standing would not, individually or in the aggregate, reasonably be expected to have
a Material Adverse Effect.

 

Section 3.6Good Standing of Subsidiaries.
Each Operating Subsidiary has been duly organized and is validly existing in good standing under the laws of the jurisdiction
of its incorporation or organization, has corporate or similar power and authority to conduct its business as described in the
Company SEC Documents and is duly qualified to transact business and is in good standing in each jurisdiction in which such qualification
is required, except where the failure to so qualify or to be in good standing would not, individually or in the aggregate, reasonably
be expected to have a Material Adverse Effect. The only subsidiaries of the Company are the Operating Subsidiaries.

 

Section 3.7Authorization of the Common
Stock. The Common Stock to be purchased from the Company has been duly authorized for issuance and sale to the Purchasers
pursuant to this Agreement and, when issued and delivered by the Company pursuant to this Agreement against payment of the consideration
set forth herein, will be validly issued and fully paid and non-assessable. No holder of Common Stock will be subject to personal
liability by reason of being such a holder.

 

Section 3.8No Preemptive or Registration
Rights. Except as contained in the Charter or described in the Company SEC Documents, there are no (A) preemptive rights or
other rights to subscribe for or to purchase, nor any restriction upon the voting or transfer of, any equity securities of the
Company, or (B) outstanding options or warrants to purchase any securities of the Company. Except as provided for in this Agreement
or described in the Company SEC Documents, the issuance or sale of the Common Stock as contemplated by this Agreement does not
give rise to any rights for or relating to the registration of any Common Stock or other securities of the Company, except such
rights as have been waived or satisfied.

 

Section 3.9Description of Common Stock.
The Common Stock conforms to all statements relating thereto contained in the Company SEC Documents and such description conforms
to the rights set forth in the instruments defining the same.

 

    	 	8	 

     

    

 

Section 3.10Authorization of Agreement;
Enforceability. The Company has all requisite power and authority to execute and deliver this Agreement and perform its respective
obligations hereunder. This Agreement has been duly authorized, executed and delivered by the Company and this Agreement constitutes
the legal, valid and binding obligation of the Company, enforceable in accordance with its terms, except as such enforceability
may be limited by bankruptcy, insolvency, fraudulent transfer and similar laws affecting creditors’ rights generally or
by general principles of equity, including principles of commercial reasonableness, fair dealing and good faith.

 

Section 3.11Authorization of Transactions.
As of each Closing, all corporate action required to be taken by the Company or any of its partners for the execution and delivery
by the Company of this Agreement and the consummation of the transactions contemplated by the Agreement, shall have been validly
taken.

 

Section 3.12Absence of Violations,
Defaults and Conflicts. None of the Company and the Operating Subsidiaries (collectively, the “Company Entities”)
is (A) in violation of its organizational documents, (B) in violation or breach of or in default in the performance or observance
of any obligation, agreement, covenant or condition contained in any contract, indenture, mortgage, deed of trust, loan or credit
agreement, note, lease or other agreement or instrument to which any such Company Entity is a party or by which it may be bound
or to which any of the properties or assets of any of the Company Entities is subject (collectively, “Agreements and
Instruments”), except for such defaults that would not, individually or in the aggregate, reasonably be expected to
have a Material Adverse Effect, (C) in violation of any law, statute, rule, regulation, judgment, order, writ or decree of any
arbitrator, court, governmental body, regulatory body, administrative agency or other authority, body or agency having jurisdiction
over any of the Company Entities or any of their respective properties, assets or operations (each, a “Governmental Entity”),
except for such violations that would not, individually or in the aggregate, reasonably be expected to have a Material Adverse
Effect. The execution, delivery and performance of this Agreement and the consummation of the transactions contemplated hereby
will not, whether with or without the giving of notice or passage of time or, require consent under, or constitute a breach of,
or default or Repayment Event (as defined below) under, or result in the creation or imposition of any Lien upon any properties
or assets of the Company pursuant to, the Agreements and Instruments (except for such conflicts, breaches, defaults or Repayment
Events or Liens that would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect), nor
will such actions (i) result in any violation of the provisions of the organizational documents of any of the Company Entities,
(ii) conflict with or constitute a breach of, or a default or a Repayment Event (as defined below) under, or result in the creation
or imposition of any Lien upon any property or assets of any of the Company Entities pursuant to, or require the consent of any
other party to, any Agreements and Instruments, except for such conflicts, breaches, defaults or Liens as would not, individually
or in the aggregate, reasonably be expected to have a Material Adverse Effect or (iii) result in any violation of any law, statute,
rule, regulation, judgment, order, writ or decree of any Governmental Entity, except for such violations as would not, individually
or in the aggregate, reasonably be expected to have a Material Adverse Effect. As used herein, a “Repayment Event”
means any event or condition which gives the holder of any note, debenture or other evidence of indebtedness (or any person acting
on such holder’s behalf) the right to require the repurchase, redemption or repayment of all or a portion of such indebtedness
by any of the Company Entities.

 

Section 3.13Absence of Proceedings.
Except as disclosed in the Company SEC Documents, there is no action, suit, proceeding, inquiry or investigation before or brought
by any Governmental Entity now pending or, to the knowledge of the Company, threatened, against or affecting the Company, which
would, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, or which might materially and
adversely affect its assets or the consummation of the transactions contemplated in this Agreement or the performance by the Company
of its obligations hereunder.

 

    	 	9	 

     

    

 

Section 3.14Accounting Controls.
The Company Entities maintain internal control over financial reporting (as defined under Rule 13a-15 and 15d-15 under the rules
and regulations of the Commission under the Exchange Act (the “Exchange Act Regulations”) and a system of internal
accounting controls sufficient to provide reasonable assurances that (A) transactions are executed in accordance with management’s
general or specific authorization; (B) transactions are recorded as necessary to permit preparation of financial statements in
conformity with GAAP and to maintain accountability for assets; (C) access to assets is permitted only in accordance with management’s
general or specific authorization; and (D) the recorded accountability for assets is compared with the existing assets at reasonable
intervals and appropriate action is taken with respect to any differences. Except as described in the Company SEC Documents, since
the Company’s inception, there has been (1) no material weakness in the Company’s internal control over financial
reporting (whether or not remediated) and (2) no change in the Company’s internal control over financial reporting that
has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.
“Material Weakness” has the meaning set forth under Rule 1-02 of Regulation S-X promulgated by the Commission.

 

Section 3.15Investment Company Act.
None of the Company Entities are required, and upon the issuance and sale of the Common Stock as herein contemplated and the application
of the net proceeds therefrom as described in the confidential offering memorandum relating to the private placement of the Common
Stock in connection with this Agreement, dated as of the date hereof, under the caption “Use of Proceeds,” none of
the Company Entities will be required, to register as an “investment company” under the Investment Company Act of
1940, as amended (the “1940 Act”).

 

Section 3.16No General Solicitation;
No Advertising. The Company has not solicited offers for, or offered or sold, and will not solicit offers for, or offer or
sell, the Purchased Shares by means of any form of general solicitation or general advertising within the meaning of Rule 502(c)
of Regulation D or in any manner involving a public offering within the meaning of Section 4(a)(2) of the Securities Act.

 

Section 3.17No Registration Required.
Assuming the accuracy of the representations and warranties of each Purchaser contained in Article IV, the issuance and sale of
Purchased Shares pursuant to this Agreement is exempt from the registration requirements of the Securities Act, and neither the
Company nor, to the knowledge of the Company, any authorized Representative acting on its behalf has taken or will take any action
hereafter that would cause the loss of such exemption.

 

Section 3.18No Integration. Neither
the Company nor any of its Affiliates have, directly or indirectly through any agent, sold, offered for sale, solicited offers
to buy or otherwise negotiated in respect of, any “security” (as defined in the Securities Act) that is or will be
integrated with the sale of Purchased Shares in a manner that would require registration under the Securities Act.

 

ARTICLE
IV

 

REPRESENTATIONS AND WARRANTIES OF THE PURCHASERS

 

Each Purchaser, severally and not jointly, hereby
represents and warrants to the Company that:

 

Section 4.1Existence. Such Purchaser
is duly organized and validly existing and in good standing under the Laws of its jurisdiction of organization, with all requisite
power and authority to own its assets and to conduct its business as currently conducted, except as would not prevent the consummation
of the transactions contemplated by this Agreement.

 

    	 	10	 

     

    

 

Section 4.2Authorization, Enforceability.
Such Purchaser has all necessary corporate, limited liability company or partnership power and authority to execute, deliver and
perform its obligations under this Agreement and to consummate the transactions contemplated hereby, and the execution, delivery
and performance by such Purchaser of this Agreement has been duly authorized by all necessary action on the part of such Purchaser;
and this Agreement constitutes the legal, valid and binding obligations of such Purchaser, enforceable in accordance with its
terms, except as such enforceability may be limited by bankruptcy, insolvency, fraudulent transfer and similar laws affecting
creditors’ rights generally or by general principles of equity, including principles of commercial reasonableness, fair
dealing and good faith.

 

Section 4.3No Breach. The execution,
delivery and performance of this Agreement by such Purchaser and the consummation by such Purchaser of the transactions contemplated
hereby and thereby will not (a) conflict with or result in a breach or violation of any of the terms or provisions of, or constitute
a default under, any material agreement to which such Purchaser is a party or by which such Purchaser is bound or to which any
of the property or assets of such Purchaser is subject, (b) conflict with or result in any violation of the provisions of the
organizational documents of such Purchaser or (c) violate any statute, order, rule or regulation of any court or governmental
agency or body having jurisdiction over such Purchaser or the property or assets of such Purchaser, except in the cases of clauses
(a) and (c), for such conflicts, breaches, violations or defaults as would not prevent the consummation of the transactions contemplated
by this Agreement.

 

Section 4.4Certain Fees. No fees
or commissions are or will be payable by such Purchaser to brokers, finders or investment bankers with respect to the purchase
of Purchased Shares or the consummation of the transaction contemplated by this Agreement. Such Purchaser agrees that it will
indemnify and hold harmless the Company from and against any and all claims, demands or liabilities for broker’s, finder’s,
placement or similar fees or commissions incurred by such Purchaser in connection with the purchase of Purchased Shares or the
consummation of the transactions contemplated by this Agreement.

 

Section 4.5Investment. The Purchased
Shares are being acquired for such Purchaser’s own account, the account of its Affiliates, or the accounts of clients for
whom such Purchaser exercises discretionary investment authority (all of whom such Purchaser hereby represents and warrants are
institutional “accredited investors” within the meaning of Rule 501(a) of Regulation D promulgated by the Commission
pursuant to the Securities Act), not as a nominee or agent, and with no present intention of distributing the Purchased Shares
or any part thereof, and such Purchaser has no present intention of selling or granting any participation in or otherwise distributing
the same in any transaction in violation of the securities laws of the United States or any state, without prejudice, however,
to such Purchaser’s right at all times to sell or otherwise dispose of all or any part of the Purchased Shares under an
exemption from applicable federal or state registration requirements (including, without limitation, if available, Rule 144 promulgated
thereunder). If such Purchaser should in the future decide to dispose of any of the Purchased Shares, the Purchaser understands
and agrees (a) that it may do so only in compliance with the Securities Act and applicable state securities law, as then in effect,
including a sale contemplated by any registration statement pursuant to which such securities are being offered, or pursuant to
an exemption from the Securities Act, and (b) that stop-transfer instructions to that effect will be in effect with respect to
such securities.

 

    	 	11	 

     

    

 

Section 4.6Nature of Purchaser.

 

(a)       Such
Purchaser represents and warrants to the Company that, (a) it is (1) a “qualified institutional buyer” (as defined
in Rule 144A under the Securities Act) or (2) an “accredited investor” within the meaning of Rule 501 of Regulation
D promulgated by the Commission pursuant to the Securities Act purchasing Common Stock for its own account (or accounts managed
by it) and (b) by reason of its business and financial experience it has such knowledge, sophistication and experience in making
similar investments and in business and financial matters generally so as to be capable of evaluating the merits and risks of the
prospective investment in the Purchased Shares, is able to bear the economic risk of such investment and, at the present time,
would be able to afford a complete loss of such investment.

 

(b)       Such
Purchaser or its Representatives have been furnished with materials relating to the business, finances and operations of the Company
and relating to the offer and sale of the Purchased Shares that have been requested by such Purchaser. Such Purchaser or its Representatives
has or have been afforded the full opportunity to ask questions of and receive answers from the Company or its Representatives
and no statement or printed material which is contrary to the Company SEC Documents has been made or given to the purchaser by
or on behalf of the Company. Neither such inquiries nor any other due diligence investigations conducted at any time by such Purchaser
or its Representatives shall modify, amend or affect such Purchaser’s right (i) to rely on the Company’s representations
and warranties contained in Article III above or (ii) to indemnification or any other remedy based on, or with respect to
the accuracy or inaccuracy of, or compliance with, the representations, warranties, covenants and agreements in this Agreement.
Such Purchaser understands and acknowledges that its purchase of the Purchased Shares involves a high degree of risk and uncertainty.
Such Purchaser has sought such accounting, legal and tax advice as it has considered necessary to make an informed investment decision
with respect to its investment in the Purchased Shares.

 

Section 4.7Restricted Securities.
Such Purchaser understands that the Purchased Shares are characterized as “restricted securities” under the federal
securities Laws inasmuch as they are being acquired from the Company in a transaction not involving a public offering and that
under such Laws and applicable regulations such securities may be resold without registration under the Securities Act only in
certain limited circumstances. Such Purchaser represents that it is knowledgeable with respect to Rule 144 of the Commission promulgated
under the Securities Act.

 

Section 4.8Reliance Upon such Purchaser’s
Representations and Warranties. Such Purchaser understands and acknowledges that the Purchased Shares are being offered and
sold in reliance on a transactional exemption from the registration requirements of federal and state securities laws, and that
the Company is relying in part upon the truth and accuracy of the representations, warranties, agreements, acknowledgments and
understandings of such Purchaser set forth in this Agreement in (i) concluding that the issuance and sale of the Purchased Shares
is a “private offering” and, as such, is exempt from the registration requirements of the Securities Act and (ii) determining
the applicability of such exemptions and the suitability of such Purchaser to purchase the Purchased Shares.

 

Section 4.9Legend; Restrictive Notation.
Such Purchaser understands that any certificates evidencing the Purchased Shares and the book-entry account maintained by the
transfer agent evidencing ownership of the Purchased Shares will bear the legend or restrictive notation required by the Charter
of the Company as well as the following legend or restrictive notation: “These securities have not been registered under
the Securities Act. These securities may not be sold, offered for sale, pledged or hypothecated in the absence of a registration
statement in effect with respect to the securities under the Securities Act or pursuant to an exemption from registration thereunder,
in each case in accordance with all applicable securities laws of the states or other jurisdictions, and, in the case of a transaction
exempt from registration, such securities may only be transferred if the transfer agent for such securities has received documentation
satisfactory to it that such transaction does not require registration under the Securities Act.”

 

    	 	12	 

     

    

 

Section 4.10Company Information.
Such Purchaser acknowledges and agrees that the Company has provided or made available to such Purchaser (through EDGAR, the Company’s
website or otherwise) all forms, registration statements, reports, schedules and statements required to be filed by the Company
under the Exchange Act or the Securities Act, as well as all press releases or investor presentations issued by the Company through
the date of this Agreement that are included in a filing by the Company on Form 8-K or clearly posted on the Company’s website.

 

Section 4.11Anti-Money
Laundering. Such Purchaser hereby acknowledges the Company’s, intention to comply with all applicable laws
concerning money laundering, terrorism and related activities, including, without limitation, the provisions of the Uniting
and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, as amended
(“PATRIOT Act”). In furtherance of such efforts, such Purchaser hereby represents, warrants, and agrees
that, to the best of such Purchaser’s knowledge based on reasonable diligence and investigation:

 

(a)       none
of the Purchaser’s past or future capital contributions to the Company (whether payable in cash or otherwise) have been or
shall be derived from money laundering or similar activities deemed illegal under federal laws and regulations;

 

(b)       none
of the Purchaser’s past or future capital contributions to the Company will cause the Company or any of their personnel to
be in violation of United States federal or other anti-money laundering laws, including without limitation the United States Bank
Secrecy Act (31 U.S.C. § 5311, et seq.), the United States Money Laundering Control Act of 1986 or the International
Money Laundering Abatement and Anti-Terrorist Financing Act of 2001, and any regulations promulgated thereunder;

 

(c)       to
the best of its knowledge, none of (A) the Purchaser, (B) any person controlling or controlled by the Purchaser, (C) if the Purchaser
is a privately held entity, any person having a beneficial interest in the Purchaser, or (D) any person for whom the Purchaser
is acting as agent or nominee in connection with this investment, is, in the case of each of the foregoing, an individual, entity,
country or territory named on an U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) list, is
located in a country or territory named on an OFAC list or is a person or entity prohibited under the OFAC programs;

 

(d)       when
requested by the Company the Purchaser will provide any and all additional information that the Company deems necessary to ensure
compliance with all applicable laws and regulations concerning money laundering and similar activities. The Company may request
additional documentation and information to verify the identity of the Purchaser. The Purchaser acknowledges and agrees that the
Purchaser will not be in compliance with this Agreement until such time as the Company has received and is satisfied with all the
information and documentation requested to verify the Purchaser’s identity;

 

(e)       the
Purchaser shall promptly notify the Company in the event that any of the foregoing representations cease to be true and accurate
regarding the Purchaser; and

 

(f)       the
Purchaser will immediately notify the Company if Purchaser is or Purchaser knows, or has reason to suspect, that one of the Purchaser’s
underlying beneficial owners is:

 

    	 	13	 

     

    

 

(i)       a
Prohibited Purchaser;

 

(ii)       a
Senior Foreign Political Figure, any member of a Senior Foreign Political Figure’s “immediate family,”
which includes the figure’s parents, siblings, spouse, children and in-laws, or any Close Associate of a Senior Foreign Political
Figure, or a person or entity resident in, or organized or chartered under, the laws of a Non-Cooperative Jurisdiction;

 

(iii)       a
person or entity resident in, or organized or chartered under, the laws of a jurisdiction that has been designated by the U.S.
Secretary of the Treasury under Section 311 or 312 of the PATRIOT Act as warranting special measures due to money laundering concerns;
or

 

(iv)       a
person or entity who gives a Purchaser a reason to believe that its funds originate from, or will be or have been routed through,
an account maintained at a Foreign Shell Bank, an “offshore bank,” or a bank organized or chartered under the laws
of a Non-Cooperative Jurisdiction.

 

Such Purchaser understands
and agrees that if at any time it is discovered that any of the foregoing representations are incorrect, or if otherwise required
by applicable laws or regulations, the Company may, to the fullest extent permitted by law, undertake appropriate actions, and
such Purchaser agrees to cooperate with such actions, to ensure continued compliance with applicable laws or regulations. The Purchaser
further understands and agrees that the Company may release confidential information about such Purchaser (and, if applicable,
any underlying beneficial owners of such Purchaser) to appropriate authorities if the Company determines that it is in the Company’s
best interests to do so in light of applicable laws and regulations.

 

Section 4.12FATCA.
Such Purchaser acknowledges and agrees that:

 

(a)       the
Company may take such actions as it determines necessary or appropriate to comply with FATCA;

 

(b)       it
will furnish the Company with such information, documentation and certifications as the Company may request to comply with the
regulations governing FATCA and the obligations of withholding tax agents; any such forms or documentation requested by the Company
pursuant to this paragraph (b), or any financial or account information with respect to the Purchaser’s investment in the
Company, may be disclosed to the Cayman Islands Tax Information Authority (or any other Cayman Islands governmental body which
collects information in accordance with FATCA) and to any withholding agent where the provision of that information is required
by such agent to avoid the application of any withholding tax on any payments to the Company;

 

(c)       it
waives, and/or shall cooperate with the Company to obtain a waiver of, the provisions of any law which:

 

(i)       prohibit
the disclosure by the Company, or by any of its agents, of the information or documentation requested from the Purchaser pursuant
to paragraph (b) above;

 

(ii)       prohibit
the reporting of financial or account information by the Company or its agents required pursuant to FATCA; or

 

    	 	14	 

     

    

 

(iii)       otherwise
prevent compliance by the Company with its obligations under FATCA.

 

Such Purchaser hereby indemnifies the Company
for any loss or liability arising in whole or in part from the Purchaser’s failure to establish that payments and allocations
to it are exempt from withholding under FATCA. This indemnification shall survive indefinitely. Notwithstanding any provision to
the contrary contained in this Agreement, each of the Affiliates of the Company may enforce directly its rights pursuant to this
Section 4.12 of this Agreement subject to and in accordance with the provisions of the Contracts (Rights of Third Parties) Law,
2014, as amended, modified, re-enacted or replaced, or any law having similar effect. Notwithstanding any other term of this Agreement,
the consent of any person who is not a party to this Agreement (including any Affiliate of the Company) is not required for any
variation of, amendment to, or release, rescission, or termination of, this Agreement.

 

Section 4.13Share Repurchase Programs.
Such Purchaser acknowledges and agrees that until three years from the date of this Agreement (or for a Purchaser executing the
Joinder Agreement, the date of the Joinder Agreement) it shall not participate in the Company’s amended and restated share
repurchase program, which became effective on February 28, 2016, or any subsequent program pursuant to which the Company repurchases
Common Stock from Company stockholders.

 

Section 4.14Lock-Up.
Any Purchaser owning more than 5% of the Common Stock outstanding as of the date of any underwritten public offering of securities
of the Company agrees to execute a customary lock-up agreement for the benefit of the underwriters upon the request of the Company
and a managing underwriter, which will provide that the Purchaser will not effect any sale or distribution, including any sale
pursuant to Rule 144 under the Securities Act, of any securities of the same class as those to be distributed by the underwriters
in such public offering that are owned by the Purchaser, and will not effect any sale or distribution of other securities convertible
into or exchangeable or exercisable for securities of such class (in each case, other than as part of such underwritten public
offering) during such period as the managing underwriter may require, not to exceed one hundred eighty (180) calendar days after
the sale of such underwritten securities with respect to a public offering occurring within sixty (60) calendar days of the Listing
Event, or ninety (90) calendar days for underwritten public offerings thereafter (or such other period as may be requested by
the Company or the managing underwriter to comply with regulatory restrictions on (i) the publication or other distribution of
research reports and (ii) analyst recommendations and opinions, including, but not limited to, the restrictions contained in Rule
2711(f)(4) of the Financial Industry Regulatory Authority, or any successor provisions or amendments thereto).

 

ARTICLE
V

 

COVENANTS

 

Section 5.1Taking of Necessary Action.
Each of the parties hereto shall use its commercially reasonable efforts to take or cause to be taken all action and to do or
cause to be done all things necessary, proper or advisable under applicable Law and regulations to consummate and make effective
the transactions between the Company and the Purchasers contemplated by this Agreement related specifically to the acquisition
of the Purchased Shares. Without limiting the foregoing, each of the Company and each Purchaser shall use its commercially reasonable
efforts to make all filings and obtain all consents of Governmental Authorities that may be necessary or, in the reasonable opinion
of the other parties, as the case may be, advisable for the consummation of the transactions contemplated by this Agreement. Each
Purchaser agrees that its trading activities, if any, with respect to Company’s securities will be in compliance with all
applicable state and federal securities laws, rules. The Company shall promptly and accurately respond, and shall use its commercially
reasonable efforts to cause its transfer agent to respond, to reasonable requests for information (which is otherwise not publicly
available) made by a Purchaser or its auditors relating to the actual holdings of such Purchaser or its accounts; provided that,
the Company shall not be obligated to provide any such information that could reasonably result in a violation of applicable law
or conflict with the Company’s insider trading policy or a confidentiality obligation of the Company. The Company shall
use its commercially reasonable efforts to cause its transfer agent to reasonably cooperate with each Purchaser to ensure that
the Purchased Shares are validly and effectively issued to such Purchaser and that such Purchaser’s ownership of the Purchased
Shares following each Closing is accurately reflected on the appropriate books and records of the Company’s transfer agent.

 

    	 	15	 

     

    

 

Section 5.2Registration Rights.
The Company agrees that to the extent that a Purchaser is not able to resell Purchased Shares pursuant to an exemption from registration
under the Securities Act, then the Company will use its reasonable best efforts to file a registration statement under the Securities
Act that registers the resale of the Purchased Shares held by such Purchaser within 180 days following a Listing Event and to
cause such registration statement to be declared effective under the Securities Act as soon as practicable.

 

Section 5.3 Liquidity Event.
The Company agrees to consummate a Liquidity Event of 100% of the shares of Common Stock within three years of the date of this
Agreement,  unless a majority of the independent directors of the Company’s board of
directors determine that at that time a Liquidity Event would be detrimental to the Company’s shareholders, in which case
the Company will consummate a Liquidity Event as soon as the board of directors determines a Liquidity Event would not be detrimental. 
The board of directors will provide Purchasers an explanation of the reasons for any determination that a Liquidity Event would
be detrimental. 

 

ARTICLE
VI

 

INDEMNIFICATION

 

Section 6.1Indemnification by the Company.
The Company agrees to indemnify each Purchaser and its Representatives (collectively, “Purchaser Related Parties”)
from costs, losses, liabilities, damages or expenses of any kind or nature whatsoever, and hold each of them harmless against,
any and all actions, suits, proceedings (including any investigations, litigation or inquiries), demands and causes of action,
and, in connection therewith, and promptly upon demand, pay or reimburse each of them for all reasonable costs, losses, liabilities,
damages or expenses of any kind or nature whatsoever, including, without limitation, the reasonable fees and disbursements of
counsel and all other reasonable expenses incurred in connection with investigating, defending or preparing to defend any such
matter that may be incurred by them or asserted against or involve any of them as a result of, arising out of, or in any way related
to the breach of any of the representations, warranties or covenants of the Company contained herein, provided that such claim
for indemnification relating to a breach of a representation or warranty is made prior to the expiration of such representation
or warranty; and provided further, that no Purchaser Related Party shall be entitled to recover special, consequential (including
lost profits) or punitive damages under this Section 6.1. The maximum liability of the Company for any indemnification of any
Purchaser and its respective Purchaser Related Parties pursuant to this Section 6.1 shall not exceed the aggregate Purchase Price
paid by such Purchaser at all Closings.

 

    	 	16	 

     

    

 

Section 6.2Indemnification by Purchasers.
Each Purchaser agrees, severally and not jointly, to indemnify the Company and its respective Representatives (collectively, “Company
Related Parties”) from, and hold each of them harmless against, any and all actions, suits, proceedings (including any
investigations, litigation or inquiries), demands and causes of action, and, in connection therewith, and promptly upon demand,
pay or reimburse each of them for all reasonable costs, losses, liabilities, damages or expenses of any kind or nature whatsoever,
including, without limitation, the reasonable fees and disbursements of counsel and all other reasonable expenses incurred in
connection with investigating, defending or preparing to defend any such matter that may be incurred by them or asserted against
or involve any of them as a result of, arising out of, or in any way related to the breach of any of the representations, warranties
or covenants of such Purchaser contained herein, provided that such claim for indemnification relating to a breach of any representation
or warranty is made prior to the expiration of such representation or warranty; and provided further, that no Company Related
Party shall be entitled to recover special, consequential (including lost profits) or punitive damages. The maximum liability
of any Purchaser for any indemnification of the Company and the Company Related Parties pursuant to this Section 6.2 shall not
exceed the aggregate Purchase Price paid by such Purchaser at all Closings.

 

Section 6.3Indemnification Procedure.
Promptly after any Company Related Party or Purchaser Related Party (hereinafter, the “Indemnified Party”)
has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third person,
which the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified Party shall
give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of
such action, suit or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from
any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced
by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party
shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the
Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying
Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified
Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof
and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with
any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession
or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party
has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long
as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal
expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided,
however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability
and the negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ
counsel reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified
Party and the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses
available to the Indemnified Party that are different from or in addition to those available to the Indemnifying Party or if the
interests of the Indemnified Party reasonably may be deemed to conflict with the interests of the Indemnifying Party, then the
Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate
in the defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation
to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying
Party shall not settle any indemnified claim without the consent of the Indemnified Party (which consent shall not be unreasonably
withheld, delayed or conditioned), unless the settlement thereof imposes no liability or obligation on, and includes a complete
release from liability of, and does not include any admission of wrongdoing or malfeasance by, the Indemnified Party. The remedies
provided for in this Article VI are cumulative and are not exclusive of any remedies that may be available to a party at law or
in equity or otherwise.

 

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ARTICLE
VII

 

MISCELLANEOUS

 

Section 7.1Interpretation and Severability.
Article, Section, Schedule, and Exhibit references are to this Agreement, unless otherwise specified. All references to instruments,
documents, contracts and agreements are references to such instruments, documents, contracts and agreements as the same may be
amended, supplemented, and otherwise modified from time to time, unless otherwise specified. The word “including”
shall mean “including but not limited to.” Whenever any party has an obligation under this Agreement, the expense
of complying with that obligation shall be an expense of such party unless otherwise specified. Whenever any determination, consent
or approval is to be made or given by any Purchaser, such action shall be in such Purchaser’s sole discretion unless otherwise
specified in this Agreement. If any provision in this Agreement is held to be illegal, invalid, not binding or unenforceable,
such provision shall be fully severable and this Agreement shall be construed and enforced as if such illegal, invalid, not binding
or unenforceable provision had never comprised a part of this Agreement, and the remaining provisions shall remain in full force
and effect. This Agreement has been reviewed and negotiated by sophisticated parties with access to legal counsel and shall not
be construed against the drafter.

 

Section 7.2Survival of Provisions.
Subject to Section 7.1, and except as otherwise provided herein, the representations, warranties, covenants and agreements contained
in this Agreement shall survive the execution and delivery of this Agreement and the Closing for a period of twelve (12) months
following the End Date. All indemnification obligations of the Company and the Purchasers pursuant to this Agreement and the provisions
of Article VI, Section 4.13 and Section 4.14 shall remain operative and in full force and effect unless such obligations are expressly
terminated in writing by the parties referencing the particular Article or Section, regardless of any purported general termination
of this Agreement.

 

Section 7.3No Waiver; Modifications
in Writing.

 

(a)       Delay.
No failure or delay on the part of any party in exercising any right, power or remedy hereunder shall operate as a waiver thereof,
nor shall any single or partial exercise of any such right, power or remedy preclude any other or further exercise thereof or the
exercise of any other right, power or remedy. The remedies provided for herein are cumulative and are not exclusive of any remedies
that may be available to a party at law or in equity or otherwise.

 

(b)       Amendments
and Waivers. Except as otherwise provided herein, including Section 7.13, no amendment, waiver, consent, modification or termination
of any provision of this Agreement shall be effective unless signed by each of the parties hereto or thereto affected by such amendment,
waiver, consent, modification or termination. Any amendment, supplement or modification of or to any provision of this Agreement,
any waiver of any provision of this Agreement, and any consent to any departure by the Company from the terms of any provision
of this Agreement shall be effective only in the specific instance and for the specific purpose for which made or given. Except
where notice is specifically required by this Agreement, no notice to or demand on the Company in any case shall entitle the Company
to any other or further notice or demand in similar or other circumstances.

 

    	 	18	 

     

    

 

Section 7.4Binding Effect; Assignment.

 

(a)       Binding
Effect. This Agreement shall be binding upon the Company, the Purchasers, and their respective successors and permitted assigns.
Except as expressly provided in this Agreement, this Agreement shall not be construed so as to confer any right or benefit upon
any Person other than the parties to this Agreement and their respective successors and permitted assigns.

 

(b)       Assignment
of Rights. No portion of the rights and obligations of any Purchaser under this Agreement may be transferred by such Purchaser
without the written consent of the Company.

 

Section 7.5Confidentiality. Notwithstanding
anything herein to the contrary, to the extent that any Purchaser has executed or is otherwise bound by a confidentiality agreement
in favor of the Company, such Purchaser shall continue to be bound by such confidentiality agreement.

 

Section 7.6Communications. All notices
and demands provided for hereunder shall be in writing and shall be given by registered or certified mail, return receipt requested,
telecopy, air courier guaranteeing overnight delivery or personal delivery to the following addresses:

 

		(a)	If to any Purchaser:

 

To the respective address listed on Schedule B
hereof

 

		(b)	If to Benefit Street Partners Realty Trust, Inc.:

 

9 West 57th Street, Suite 4920

New York, New York 10019

Attention: Secretary

Phone: (212) 588-6770

 

With a copy to:

 

Hogan Lovells US LLP

555 Thirteenth Street, NW

Washington, DC 20004

Attention: Michael E. McTiernan

Facsimile: (202) 637-5684

Email: Michael.McTiernan@hoganlovells.com

 

or to such other address as the Company or such Purchaser may designate
in writing. All notices and communications shall be deemed to have been duly given: at the time delivered by hand, if personally
delivered; when notice is sent to the sender that the recipient has read the message, if sent by electronic mail; upon actual receipt
if sent by certified mail, return receipt requested, or regular mail, if mailed; when receipt acknowledged, if sent via facsimile;
and upon actual receipt when delivered to an air courier guaranteeing overnight delivery.

 

    	 	19	 

     

    

 

Section 7.7Removal of Legend. In
connection with a sale of the Purchased Shares by a Purchaser in reliance on Rule 144, the applicable Purchaser or its broker
shall deliver to the transfer agent and the Company a customary broker representation letter providing to the transfer agent and
the Company any information the Company deems necessary to determine that the sale of the Purchased Shares is made in compliance
with Rule 144, including, as may be appropriate, a certification that the Purchaser is not an Affiliate of the Company and regarding
the length of time the Purchased Shares have been held. Upon receipt of such representation letter, the Company shall promptly
direct its transfer agent to remove the notation of a restrictive legend in such Purchaser’s book-entry account maintained
by the transfer agent, including the legend referred to in Section 4.9, and the Company shall bear all costs associated therewith.
After any Purchaser or its permitted assigns have held the Purchased Shares for six months, if the book-entry account of such
Purchased Shares still bears the notation of the restrictive legend referred to in Section 4.9, the Company agrees, upon request
of the Purchaser or permitted assignee, to take all steps necessary to promptly effect the removal of the legend described in
Section 4.9 from the Purchased Shares, and the Company shall bear all costs associated therewith, regardless of whether the request
is made in connection with a sale or otherwise, so long as such Purchaser or its permitted assigns provide to the Company any
information the Company deems reasonably necessary to determine that the legend is no longer required under the Securities Act
or applicable state laws, including (if there is no such registration statement) a certification that the holder is not an Affiliate
of the Company (and a covenant to inform the Company if it should thereafter become an Affiliate and to consent to the notation
of an appropriate restriction) and regarding the length of time the Purchased Shares have been held.

 

Section 7.8Entire Agreement. This
Agreement and the other agreements and documents referred to herein are intended by the parties as a final expression of their
agreement and intended to be a complete and exclusive statement of the agreement and understanding of the parties hereto in respect
of the subject matter contained herein and therein. There are no restrictions, promises, warranties or undertakings, other than
those set forth or referred to herein with respect to the rights granted by the Company or any of its Affiliates or any Purchaser
or any of its Affiliates set forth herein or therein. This Agreement and the other agreements and documents referred to herein
supersede all prior agreements and understandings between the parties with respect to such subject matter.

 

Section 7.9Governing Law. This Agreement,
and all claims or causes of action (whether in contract or tort) that may be based upon, arise out of or relate to this Agreement
or the negotiation, execution or performance of this Agreement (including any claim or cause of action based upon, arising out
of or related to any representation or warranty made in or in connection with this Agreement), will be construed in accordance
with and governed by the laws of the State of New York without regard to principles of conflicts of laws. Any action against any
party relating to the foregoing shall be brought in any federal or state court of competent jurisdiction located within the State
of New York, and the parties hereto hereby irrevocably submit to the non-exclusive jurisdiction of any federal or state court
located within the State of New York over any such action. The parties hereby irrevocably waive, to the fullest extent permitted
by applicable Law, any objection that they may now or hereafter have to the laying of venue of any such dispute brought in such
court or any defense of inconvenient forum for the maintenance of such dispute.

 

Section 7.10Execution in Counterparts.
This Agreement may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of
which counterparts, when so executed and delivered, shall be deemed to be an original and all of which counterparts, taken together,
shall constitute but one and the same Agreement.

 

Section 7.11Termination.

 

(a)       Notwithstanding
anything herein to the contrary, this Agreement shall automatically terminate at any time at or prior to any Closing if a statute,
rule, order, decree or regulation shall have been enacted or promulgated, or if any action shall have been taken by any Governmental
Entity of competent jurisdiction that permanently restrains, permanently precludes, permanently enjoins or otherwise permanently
prohibits the consummation of the transactions contemplated by this Agreement or makes the transactions contemplated by this Agreement
illegal.

 

    	 	20	 

     

    

 

(b)       In
the event of the termination of this Agreement as provided in this Section 7.11, (1) this Agreement shall forthwith become null
and void and (2) there shall be no liability on the part of any party hereto, except as set forth in Article VI of this Agreement
and except with respect to the requirement to comply with any confidentiality agreement in favor of the Company and the covenants
in Section 4.13 and Section 4.14; provided that nothing herein shall relieve any party from any liability or obligation with respect
to any willful breach of this Agreement.

 

Section 7.12Recapitalization, Exchanges,
Etc. Affecting the Common Stock. The provisions of this Agreement shall apply to the full extent set forth herein with respect
to any and all equity interests of the Company or any successor or assign of the Company (whether by merger, consolidation, sale
of assets or otherwise) which may be issued in respect of, in exchange for or in substitution of, the Common Stock, and shall
be appropriately adjusted for combinations, recapitalizations and the like occurring after the date of this Agreement and prior
to a Closing.

 

Section 7.13Joinder. The representations,
warranties, covenants and commitments made by the Company for the benefit of a Purchaser in this Agreement shall apply equally
to any Purchaser that executes a Joinder Agreement subsequent to the date of this Agreement.

 

[Signature pages follow]

 

    	 	21	 

     

    

 

IN WITNESS WHEREOF, the parties hereto execute
this Agreement, effective as of the date first above written.

 

	 	BENEFIT STREET PARTNERS REALTY TRUST, INC.
	 	 	 
	 	By:	 	 
	 	 	 	 
	 	Name:	 	Jerome S. Baglien
	 	 	 	 
	 	Title:	 	Chief Financial Officer and Treasurer

 

[Signature Page to Purchase Agreement]

 

     

     

    

 

	 	[Name of Purchaser:]
	 	 
	 	
        By: [Name of General Partner or Manager (if

        applicable)]

	 	 
	 	By: (Signature of Authorized Person)
	 	 
	 	 	 	 
	 	 	Name:	 
	 	 	 	 
	 	 	Title	 

 

[Signature Page to Purchase Agreement]

 

     

     

    

 

Schedule A – List of Purchasers and
Commitment Amounts

 

(As updated from time to time to reflect
persons executing a Joinder Agreement)

 

	Purchaser	 	Committed Shares
	[ ]	 	[ ]
	 	 	 
	[ ]	 	[ ]
	 	 	 
	[ ]	 	[ ]
	 	 	 
	Total	 	[ ]

 

     

     

    

 

Schedule B – Notice and Contact Information
of Purchasers

 

(As updated from time to time to reflect
persons executing a Joinder Agreement)

 

	Purchaser	 	Contact Information
	[ ]	 	[ ]
	 	 	 
	[ ]	 	[ ]
	 	 	 
	[ ]	 	[ ]

 

 

     

     

    

 

Schedule C – Operating Subsidiaries

 

Benefit Street Partners Realty Trust, Inc.

 

Benefit Street Partners Realty Operating Partnership, L.P.

 

Benefit Street Partners Realty Trust TRS, LLC

 

BSPRT Finance, LLC

 

BSPRT Counterparty, LLC

 

BSPRT Finance Sub-Lender I, LLC

 

BSPRT Finance Sub-Lender II, LLC

 

Benefit Street Partners Realty Trust LP, LLC

 

BSPRT GS Loan, LLC

 

BSPRT High Yield Securities, LLC

 

BSPRT JPM Loan, LLC

 

BSPRT USB Loan, LLC

 

BSPRT BB Loan, LLC

 

BSPRT PWB Loan, LLC

 

BSPRT CS Loan, LLC

 

RFT 2015-FL1 Seller, LLC

 

RFT 2015-FL1 Holder, LLC

 

RFT 2015-FL1 Issuer, Ltd.

 

RFT 2015-FL1 Co-Issuer, LLC

 

BSPRT 2017-FL1 Seller, LLC

 

BSPRT 2017-FL1 Holder, LLC

 

BSPRT 2017-FL1 Issuer, Ltd.

 

BSPRT 2017-FL1 Co-Issuer, LLC

 

BSPRT 2017-FL2 Seller, LLC

 

BSPRT 2017-FL2 Holder, LLC

 

BSPRT 2017-FL2 Issuer, Ltd.

 

BSPRT 2017-FL2 Co-Issuer, LLC

 

     

     

    

 

Schedule D – Investor Information Questionnaire

 

Benefit
Street Partners Realty Trust, Inc.

 

INVESTOR INFORMATION

 

Please provide each of the following items
of information:

 

	1.	 	Exact Account Registration Name	 	 
	2.	 	Account Address (full company name, street address, city)	 	 
	3.	 	State	 	 
	4.	 	Country	 	 
	5.	 	Postal Code	 	 
	6.	 	Employee ID (optional)	 	 
	7.	 	Taxpayer ID (optional)	 	 
	8.	 	Covered Security (for purposes of IRS cost basis reporting)? C=Covered, N= Non-covered 	 	 
	9.	 	Contact person	 	 
	10.	 	E-mail Address for contact person	 	 
	11.	 	Phone Number for contact person	 	 
	12.	 	Notice Address (company, street, city state, postal code)	 	 
	13.	 	Fax Number for Notices	 	 

 

     

     

    

 

Schedule E – Form of Joinder Agreement

 

JOINDER AGREEMENT

 

[_______], 2018

 

The undersigned (the “Joining Party”)
hereby acknowledges and agrees to become party to and to succeed to all of the rights and obligations of (to the extent such Joining
Party is not already) a “Purchaser” under that certain Purchase Agreement, dated as of [ ], 2018, by and among Benefit
Street Partners Realty Trust, Inc. (the “Company”) and the Purchasers named on Schedule A thereto, as may be
amended from time to time in accordance with its terms (the “Purchase Agreement”). Capitalized terms used but
not defined herein shall have the meanings given to such terms in the Purchase Agreement.

 

Accordingly, the Joining Party, by its execution
of this Joinder Agreement, hereby:

 

		(a)	acknowledges, agrees and confirms that the Joining Party will be, to the extent such Joining Party is not already, deemed to
be a party to the Purchase Agreement and shall have all of the obligations of a “Purchaser” thereunder as if it had
executed the Purchase Agreement, effective as of the date this Joinder Agreement is accepted by the Company;

 

		(b)	ratifies and agrees to be bound by and subject to all of the terms, provisions and conditions contained in the Purchase Agreement;

 

		(c)	makes the representations and warranties set forth in Article 4 of the Purchase Agreement including, without limitation, the
representation that the Joining Party is a “qualified institutional buyer” within the meaning of Rule 144A of the Securities
Act or an “accredited investor” within the meaning of Rule 501(a) of the Securities Act;

 

		(d)	acknowledges, agrees and confirms that the Joining Party resides in or, if the Joining Party is an entity, has its principal
place of business located in, the state referenced in the address set forth on the signature page hereto;

 

		(e)	authorizes the Company to append this Joinder Agreement as a counterpart signature page to the Purchase Agreement, to the extent
necessary;

 

		(f)	ratifies and agrees to the Joining Party’s Commitment Shares set forth on the Joining Party’s signature page hereto;

 

		(g)	agrees and acknowledges that Schedule A to the Purchase Agreement will be amended solely by the Company to include the Committed
Shares of the Joining Party, and a copy of such Schedule A as amended will be provided to the Joining Party upon request; and

 

		(h)	agrees and acknowledges that Schedule B to the Purchase Agreement will be amended solely by the Company to include the notice
and contact information of the Joining Party, and a copy of such Schedule B as amended will be provided to the Joining Party upon
request.

 

[signature page follows]

 

     

     

    

 

IN WITNESS WHEREOF, the undersigned Joining
Party has duly executed this Joinder Agreement as of the date first written above.

 

	 	JOINING PARTY:
	 	 
	 	 
	 	[_______]
	 	 
	 	Address:
	 	 
	 	[______]
	 	 
	 	[______]
	 	[______]
	 	 
	 	[______]
	 	 
	 	Email: [______]

 

	Committed Shares:	 

 

     

     

    

 

Agreed and acknowledged:

 

BENEFIT STREET PARTNERS REALTY TRUST, INC.

 

	By:	 	 
	 	 	 
	Name:	 	 
	 	 	 
	Title:

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