Document:

Investor Rights Agreement

 Exhibit 10.1 
 INVESTOR RIGHTS AGREEMENT 
 Dated as of October 11, 2012 

by and between 

DIAMONDBACK ENERGY, INC. 
 and 
 GULFPORT ENERGY CORPORATION 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
			
	 Section 1.
	  	Definitions	  	 	1	  
			
	 Section 2.
	  	Demand Registrations	  	 	4	  
			
	 Section 3.
	  	Piggyback Registrations	  	 	7	  
			
	 Section 4.
	  	Obligations of the Company	  	 	8	  
			
	 Section 5.
	  	Registration Expenses	  	 	12	  
			
	 Section 6.
	  	Indemnification	  	 	12	  
			
	 Section 7.
	  	Rules 144 and 144A	  	 	15	  
			
	 Section 8.
	  	Underwritten Registrations	  	 	15	  
			
	 Section 9.
	  	Covenants of Holders	  	 	16	  
			
	 Section 10.
	  	Board and Information Rights	  	 	16	  
			
	 Section 11.
	  	Miscellaneous	  	 	20	  

 INVESTOR RIGHTS AGREEMENT 

THIS INVESTOR RIGHTS AGREEMENT (the “Agreement”) is made and entered into as of October 11, 2012, by and between
Diamondback Energy, Inc., a Delaware corporation (the “Company”), and Gulfport Energy Corporation, a Delaware corporation (the “Stockholder” or “Gulfport”). 

WHEREAS, the Company was formed in December 2011 in contemplation of an initial public offering of common stock of the Company
(“Common Stock Offering”). 
 WHEREAS, the Stockholder will be issued shares (the
“Shares”) of Common Stock (as defined below), all of which were validly issued, fully paid and non-assessable, pursuant to the Contribution Agreement (as defined below). 

WHEREAS, the parties hereto desire to enter into this Agreement to govern certain of their rights, duties and obligations relating
to registration of the Registrable Securities (as defined below), the nomination of directors, board advisor rights and information rights. 
 NOW, THEREFORE, for good, valuable and binding consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, now
agree as follows: 
 STATEMENT OF AGREEMENT 
 Section 1. Definitions. As used in this Agreement, the following terms shall have the meanings set forth below: 
 “Agreement” has the meaning set forth in the introductory paragraph of this Agreement. 
 “Affiliate” means, with respect to any Person, a Person that, directly or indirectly, through one or more intermediaries, Controls, is Controlled by, or is under common Control
with the specified Person. 
 “Board” means the Board of Directors of the Company. 

“Board Advisor” has the meaning set forth in Section 10(c)(1) of this Agreement. 

“Charter” means the Amended and Restated Certificate of Incorporation of the Company, as amended from time to
time. 
 “Commission” means the United States Securities and Exchange Commission or any other United
States federal agency at the time administering the Securities Act. 
 “Common Stock” means the
Company’s common stock, par value $0.01 per share, or any other shares of capital stock or other securities of the Company into which such shares of Common Stock shall be reclassified or changed, including by reason of a merger, consolidation,
reorganization or recapitalization. If the Common Stock has been so reclassified or changed, or if the Company pays a dividend or makes a distribution on the Common Stock in shares of 

 
capital stock, or subdivides (or combines) its outstanding shares of Common Stock into a greater (or smaller) number of shares of Common Stock, a share of Common Stock shall be deemed to be such
number of shares of stock and amount of other securities to which a holder of a share of Common Stock outstanding immediately prior to such change, reclassification, exchange, dividend, distribution, subdivision or combination would be entitled.

 “Common Stock Offering” has the meaning set forth in the recitals of this Agreement. 

“Company” has the meaning set forth in the introductory paragraph of this Agreement. 

“Contribution Agreement” means that certain Contribution Agreement by and between the Company and the Stockholder
dated as of May 7, 2012. 
 “Controlling,” “Controlled by” and
“under common Control with” refer to the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of a Person, whether through the ownership of voting securities, any
equity interest, or a membership interest in a non-stock corporation; by contract; by power granted in bylaws or similar governing documents; or otherwise. Without limiting the foregoing, any ownership interest greater than fifty percent
(50%) for purposes hereof constitutes “Control.” 
 “DB Holdings Registration Rights
Agreement” means that certain Registration Rights Agreement by and between the Company and DB Energy Holdings LLC dated as of the date hereof. 
 “Delay Period” has the meaning set forth in Section 4(a) of this Agreement. 
 “Demand Notice” has the meaning set forth in Section 2(a) of this Agreement. 
 “Demand Registration” has the meaning set forth in Section 2(a) of this Agreement. 
 “Director” means a member of the Board. 

“Equity Right” means any options, warrants, exchangeable or convertible securities, subscription rights, exchange
rights, statutory pre-emptive rights, preemptive rights granted under its Charter, stock appreciation rights, phantom stock, profit participation or similar rights, or any other right or instrument pursuant to which any person may be entitled to
purchase any security interest in the Company. 
 “Exchange Act” means the United States Securities
Exchange Act of 1934, as amended, and the rules and regulations of the Commission thereunder. 

“Gulfport” has the meaning set forth in the introductory paragraph hereto. 

“Gulfport Director” has the meaning set forth in Section 10(a) of this Agreement. 

“Holder(s)” means a person who owns Registrable Securities and is either (i) a Stockholder or a Permitted
Transferee of a Stockholder that has agreed to be bound by the terms of this Agreement as if such Person were a Stockholder, (ii) upon the death of any Holder, the executor of the estate of such Holder or such Holder’s heirs, devisees,
legatees or assigns or (iii) upon the disability of any Holder, any guardian or conservator of such Holder. 

  
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 “Holder Indemnified Parties” has the meaning set forth in
Section 6(a) of this Agreement. 
 “Independent Director” means a natural person who is
“independent” under the applicable rules and regulations of the SEC and the rules and regulations of The NASDAQ Global Market or the then applicable exchange on which the Common Stock is then traded (“Marketplace
Rules”). 
 “Independent Directors” has the meaning set forth in Section 10(a)
of this Agreement. 
 “Interruption Period” has the meaning set forth in the last paragraph in
Section 4(b) of this Agreement. 
 “Large Accelerated Filer” has the meaning ascribed to it
in Rule 12b-2 promulgated under the Exchange Act. 
 “Law” means any law (statutory, common or
otherwise), constitution, ordinance, rule, regulation, executive order or other similar authority enacted, adopted, promulgated or applied by any legislature, agency, bureau, branch, department, division, commission, court, tribunal or other similar
recognized organization or body of any federal, state, county, municipal, local or foreign government or other similar recognized organization or body exercising similar powers or authority. 

“Losses” has the meaning set forth in Section 6(a) of this Agreement. 

“Misstatement/Omission” has the meaning set forth in Section 6(a) of this Agreement. 

“Permitted Transferee” means any Person to whom the rights under this Agreement have been assigned in accordance
with the provisions of Section 11(d) of this Agreement. 
 “Person” means any natural
person, corporation, partnership, firm, association, trust, government, governmental agency, limited liability company or any other entity, whether acting in an individual, fiduciary or other capacity. 

“Piggyback Registration” has the meaning set forth in Section 3(a) of this Agreement. 

“Prospectus” means the prospectus included in any Registration Statement, as amended or supplemented by any
prospectus supplement, with respect to the terms of the offering of any portion of the Registrable Securities covered by such Registration Statement, and all other amendments and supplements to the Prospectus, including post-effective amendments,
and all material incorporated by reference or deemed to be incorporated by reference in such prospectus. 

  
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 “Registrable Securities” means (i) the Shares, (ii) any
other shares of Common Stock that may be acquired by a Holder prior to or after the closing of the Common Stock Offering and (iii) any shares of Common Stock issuable pursuant to any rights to acquire Common Stock held by a Holder prior to or
after the closing of the Common Stock Offering. If as a result of any reclassification, stock dividends or stock splits or in connection with a combination of shares, recapitalization, merger, consolidation or other reorganization or other
transaction or event, any capital stock, evidence of indebtedness, warrants, options, rights or other securities (collectively “Other Securities”) are issued or transferred to a Holder in respect of Registrable Securities
held by the Holder, references herein to Registrable Securities shall be deemed to include such Other Securities. As to any particular Registrable Securities, such securities will cease to be Registrable Securities when (i) they have been
distributed to the public pursuant to an offering registered under the Securities Act, or may legally be distributed to the public in one transaction pursuant to Rule 144 under the Securities Act, (ii) they have been distributed to the public
pursuant to Rule 144 (or any successor provision) under the Securities Act, or (iii) they have been sold to any Person to whom the rights under this Agreement are not assigned in accordance with this Agreement. 

“Registration Statement” means any registration statement under the Securities Act of the Company that covers any
of the Registrable Securities, including the related Prospectus, amendments and supplements to such registration statement or Prospectus, including pre- and post-effective amendments, all exhibits, and all materials incorporated by reference or
deemed to be incorporated by reference in such registration statement or Prospectus. 
 “Securities Act”
means the United States Securities Act of 1933, as amended, and the rules and regulations of the Commission promulgated thereunder. 
 “Shares” has the meaning set forth in the recitals of this Agreement. 
 “Stockholder” has the meaning set forth in the introductory paragraph of this Agreement. 
 Section 2. Demand Registrations. 
 (a) Right to Demand. Upon the
terms and subject to the conditions of this Agreement, Holders of at least a majority of the aggregate amount of outstanding Registrable Securities shall have the right, by written notice (the “Demand Notice”) given to the
Company, to request the Company to register under and in accordance with the provisions of the Securities Act all or part of the Registrable Securities designated by such Holders (a “Demand Registration”). Upon receipt of any
such Demand Notice, the Company will promptly notify all other Holders of the receipt of such Demand Notice and allow them the opportunity to include Registrable Securities in the proposed registration by giving notice to the Company within five
days after the Holder receives such notice; provided, however, that Holders joining in a proposed registration pursuant to this sentence shall not be deemed to have exercised a Demand Registration for purposes of Section 2(b)
hereof and such Holders shall be included in such registration on the basis set forth in Section 2(h) hereof. The Company shall not be required to register any Registrable Securities under this Section 2 unless the
anticipated aggregate offering price to the public for any such offering of the Registrable Securities included in such Demand Notice is expected to be at least $1 million. 

  
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 (b) Number of Demand Registrations. Upon the terms and subject to the conditions of
this Agreement, Holders shall be entitled to have three Demand Registrations effected. A Demand Registration shall not be deemed to be effected and shall not count as a Demand Registration of any Person (i) if a Registration Statement with
respect thereto shall not have become effective under the Securities Act and remained effective (A) for at least 180 days (excluding any Interruption Period or Delay Period) in the case of a Demand Registration that is not on a Form S-3 or
other comparable form or (B) for at least two years (excluding any Interruption Period or Delay Period) in the case of a Demand Registration on Form S-3 or other comparable form, or until the completion of the distribution of the Registrable
Securities thereunder, whichever is earlier (including, without limitation, because of withdrawal of such Registration Statement by the Holders pursuant to Section 2(f) hereunder), (ii) if, after it has become effective, such
registration is interfered with for any reason by any stop order, injunction or other order or requirement of the Commission or any governmental authority, or as a result of the initiation of any proceeding for such stop order by the Commission
through no fault of the Holders and the result of such interference is to prevent the Holders from disposing of such Registrable Securities proposed to be sold in accordance with the intended methods of disposition, or (iii) if the conditions
to closing specified in the purchase agreement or underwriting agreement entered into in connection with any underwritten offering shall not be satisfied or waived with the consent of the Holders of a majority in number of the Registrable Securities
to be included in such Demand Registration, other than as a result of any breach by the Holders or any underwriter of its obligations thereunder or hereunder. 
 (c) Registration Statement. Subject to paragraph (a) above, as soon as practicable, but in any event within 45 days of the date on which the Company first receives one or more Demand Notices
pursuant to Section 2(a) hereof, the Company shall file with the Commission a Registration Statement on the appropriate form for the registration and sale of the total number of Registrable Securities specified in such Demand Notice,
together with the number of Registrable Securities requested to be included in the Demand Registration by other Holders, in accordance with the intended method or methods of distribution specified by the Holders in such Demand Notice. The Company
shall use its reasonable best efforts to cause such Registration Statement to be declared effective by the Commission as soon as reasonably practicable. 
 (d) Amendments; Supplements. Subject to Section 4(a), upon the occurrence of any event that would cause the Registration Statement (A) to contain a material misstatement or
omission or (B) to be not effective and usable for resale of Registrable Securities during the period that such Registration Statement is required to be effective and usable, the Company shall file an amendment to the Registration Statement as
soon as reasonably practicable if the Registration Statement is not on Form S-3 or another comparable form and such misstatement or omission is not corrected as soon as reasonably practicable by incorporation by reference, in the case of clause (A),
correcting any such misstatement or omission and, in the case of either clause (A) or (B), use its reasonable best efforts to cause such amendment to be declared effective and such Registration Statement to become usable as soon as reasonably
practicable thereafter. 
 (e) Effectiveness. The Company agrees to use its reasonable best efforts to keep any
Registration Statement filed pursuant to this Section 2 continuously effective and usable for the sale of Registrable Securities until the earlier of (i) (a) in the case of a Demand Registration for delayed or continuous
offerings of Registrable Securities filed on Form S-3 or another comparable form, two years after the date on which the Commission declares such 

  
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Registration Statement effective (excluding any Interruption Period or Delay Period) or (b) in the case of a Demand Registration that is not on Form S-3 or another comparable form, 180 days
from the date on which the Commission declares such Registration Statement effective (excluding any Interruption Period or Delay Period) and (ii) the date on which there are no longer any Registrable Securities. 

(f) Holders Withdrawal. Holders of a majority in number of the Registrable Securities to be included in a Demand Registration
pursuant to this Section 2 may, at any time prior to the effective date of the Registration Statement in respect thereof, revoke such request by providing a written notice to the Company to such effect. 

(g) Preemption of Demand Registration. Notwithstanding anything to the contrary contained herein, after receiving a written request
for a Demand Registration, the Company may elect to effect an underwritten primary registration in lieu of the Demand Registration if the Company’s Board of Directors believes that such primary registration would be in the best interests of the
Company. If the Company so elects to effect a primary registration, the Company shall give prompt written notice (which shall be given not later than 20 days after the date of the Demand Notice) to all Holders of its intention to effect such a
registration and shall afford the Holders the rights contained in Section 3 with respect to Piggyback Registrations. In the event that the Company so elects to effect a primary registration after receiving a request for a Demand
Registration, the Company shall use its reasonable best efforts to have the Registration Statement declared effective by the Commission as soon as reasonably practicable. In addition, the request for a Demand Registration shall be deemed to have
been withdrawn and such primary registration shall not be deemed to be a Demand Registration. 
 (h) Priority on Demand
Registrations. If a Demand Registration is an underwritten offering and includes securities for sale by the Company, and the managing underwriter (such underwriter to be chosen by Holders of a majority of the Registrable Securities included in
such registration, subject to the Company’s reasonable approval) advises the Company, in writing, that, in its good faith judgment, the number of securities requested to be included in such registration exceeds the number which can be sold in
such offering without materially and adversely affecting the marketability of the offering, then the Company will include in any such registration the maximum number of shares that the managing underwriter advises the Company can be sold in such
offering allocated as follows: (i) first, the Registrable Securities requested to be included in such registration by the initiating Holders and securities of other Holders of Registrable Securities and holders of Registrable Securities (as
defined in the DB Holdings Registration Rights Agreement), with all such securities to be included on a pro rata basis (or in such other proportion mutually agreed among such Holders) based on the amount of securities requested to be included
therein and (ii) second, to the extent that any other securities may be included without exceeding the limitations recommended by the underwriter as aforesaid, the securities that the Company proposes to sell together with such additional
securities to be included on a pro rata basis (or in such other proportion mutually agreed upon among the Company and such other holders) based on the amount of securities requested to be included therein. If the initiating Holders are not allowed
to register all of the Registrable Securities requested to be included by such Holders because of allocations required by this section, such initiating Holders shall not be deemed to have exercised a Demand Registration for purposes of
Section 2(b). 

  
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 Section 3. Piggyback Registrations. 

(a) Right to Piggyback Registrations. Whenever the Company or another party having registration rights proposes that the Company
register any of the Company’s equity securities under the Securities Act (other than a registration on Form S-4 relating solely to a transaction described in Rule 145 of the Securities Act or a registration on Form S-8 or any successor forms
thereto), whether or not for sale for the Company’s own account, the Company will give prompt written notice of such proposed filing to all Holders at least 15 days before the anticipated filing date. Such notice shall offer such Holders the
opportunity to register such amount of Registrable Securities as they shall request (a “Piggyback Registration”). Subject to Section 3(b) hereof, the Company shall include in each such Piggyback Registration all
Registrable Securities with respect to which the Company has received written requests for inclusion therein within 10 days after such notice has been given by the Company to the Holders. If the Registration Statement relating to the Piggyback
Registration is for an underwritten offering, such Registrable Securities shall be included in the underwriting on the same terms and conditions as the securities otherwise being sold through the underwriters. Each Holder shall be permitted to
withdraw all or part of the Registrable Securities from a Piggyback Registration at any time prior to the effective time of such Piggyback Registration. 
 (b) Priority on Piggyback Registrations. If a Piggyback Registration is an underwritten offering by or through one or more underwriters of recognized standing and the managing underwriters advise
the party or parties initiating such offering in writing (a copy of which writing shall be provided to the Holders) that in their good faith judgment the number of securities requested to be included in such registration exceeds the number which can
be sold in such offering without materially and adversely affecting the marketability of the offering, then any such registration shall include the maximum number of shares that such managing underwriters advise can be sold in such offering
allocated as follows: (x) if the Company has initiated such offering, (i) first, the securities the Company proposes to sell, and (ii) second, to the extent that any other securities may be included without exceeding the limitations
recommended by the underwriters as aforesaid, (A) the Registrable Securities to be included in such registration by the Holders and the holders of Registrable Securities (as defined in the DB Registration Rights Agreement), with all such
additional securities to be included on a pro rata basis (or in such other proportion mutually agreed among the Holders and such other holders), based on the amount of Registrable Securities and other securities requested to be included therein, and
then, if additional securities may be included (B) to such additional securities on a pro rata basis (or in such other proportion mutually agreed among them), (y) if a holder of Registrable Securities (as defined in the DB Holdings
Registration Rights Agreement) has initiated such offering, (i) first, the securities the holders under the DB Registration Rights Agreement propose to sell together with the securities the Holders of Registrable Securities hereunder propose to
sell on a pro rata basis (or in such other proportion mutually agreed upon among such holders and the Holders), based on the amount of securities requested to be included therein and (ii) second, to the extent that any other securities may be
included without exceeding the limitations recommended by the underwriters as aforesaid, all such other securities on a pro rata basis (or in such other proportion mutually agreed upon among such other holders) based on the amount of securities
requested to be included therein, and (z) if a party other than the Company or a holder under the DB Holdings Registration Rights Agreement initiated such offering, securities proposed to be sold by the Company, and the Registrable Securities
to be included in such registration by the Holders, with such additional securities to be included on a pro rata basis (or in such other proportion mutually agreed among the Company, the Holders and such other holders), based on the amount of
Registrable Securities and other securities requested to be included therein. 

  
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 Section 4. Obligations of the Company. 

(a) Delay Period. Notwithstanding the foregoing, the Company shall have the right to delay the filing of any Registration Statement
otherwise required to be prepared and filed by the Company pursuant to Sections 2 or 3, or to suspend the use of any Registration Statement, for a period not in excess of 60 consecutive calendar days (a “Delay Period”)
if (i) the Board of Directors of the Company by written resolution determines that filing or maintaining the effectiveness of such Registration Statement would have a material adverse effect on the Company or the holders of its capital stock in
relation to any material acquisition or disposition, financing or other corporate transaction or (ii) the Board of Directors of the Company by written resolution determines in good faith that the filing of a Registration Statement or
maintaining the effectiveness of a current Registration Statement would require disclosure of material information that the Company has a valid business purpose for retaining as confidential at such time. The Company shall not be entitled to
exercise a Delay Period more than one time in any 12-month period. 
 (b) Registration Procedures. Whenever the Company is
required to register Registrable Securities pursuant to Sections 2 or 3 hereof, the Company will use its reasonable best efforts to effect the registration to permit the sale of such Registrable Securities in accordance with the intended
method or methods of disposition thereof, and pursuant thereto the Company will as expeditiously as possible: 
 (1) prepare and
file with the Commission a Registration Statement with respect to such Registrable Securities as prescribed by Sections 2 or 3 on a form available for the sale of the Registrable Securities by the holders thereof in accordance with the
intended method or methods of distribution thereof and use its reasonable best efforts to cause each such Registration Statement to become and remain effective within the time periods and otherwise as provided herein; 

(2) prepare and file with the Commission such amendments (including post-effective amendments) to the Registration Statement and such
supplements to the Prospectus as may be necessary to keep such Registration Statement effective within the time periods and otherwise as provided herein and to comply with the provisions of the Securities Act with respect to the disposition of all
securities covered by such Registration Statement until such time as all of such securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such Registration Statement,
except as otherwise expressly provided herein; 
 (3) furnish to each selling Holder of Registrable Securities covered by a
Registration Statement and to each underwriter, if any, such number of copies of such Registration Statement, each amendment and post-effective amendment thereto, the Prospectus included in such Registration Statement (including each preliminary
prospectus and any 

  
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supplement to such Prospectus and any other prospectus filed under Rule 424 of the Securities Act), in each case including all exhibits, and such other documents as such Holder may reasonably
request in order to facilitate the disposition of the Registrable Securities owned by such Holder or to be disposed of by such underwriter (the Company hereby consenting to the use in accordance with all applicable Law of each such Registration
Statement (or amendment or post-effective amendment thereto) and each such Prospectus (or preliminary prospectus or supplement thereto) by each such Holder and the underwriters, if any, in connection with the offering and sale of the Registrable
Securities covered by such Registration Statement or Prospectus); 
 (4) use its reasonable best efforts to register or qualify
and, if applicable, to cooperate with the selling Holders, the underwriters, if any, and their respective counsel in connection with the registration or qualification (or exemption from such registration or qualification) of, the Registrable
Securities for offer and sale under the securities or blue sky laws of such jurisdictions as any selling Holder or managing underwriters (if any) shall reasonably request, to keep each such registration or qualification (or exemption therefrom)
effective during the period such Registration Statement is required to be kept effective as provided herein and to do any and all other acts or things necessary or advisable to enable the disposition in such jurisdictions of the securities covered
by the applicable Registration Statement; provided, however, that the Company will not be required to (i) qualify generally to do business in any jurisdiction where it would not otherwise be required to qualify but for this paragraph or
(ii) consent to general service of process or taxation in any such jurisdiction where it is not so subject; 
 (5) cause
all such Registrable Securities to be listed or quoted (as the case may be) on each national securities exchange or other securities market on which securities of the same class as the Registrable Securities are then listed or quoted; 

(6) provide a transfer agent and registrar for all such Registrable Securities and a CUSIP number for all such Registrable Securities not
later than the effective date of such Registration Statement; 
 (7) comply with all applicable rules and regulations of the
Commission, and make available to its security holders an earnings statement satisfying the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder (or any similar rule promulgated under the Securities Act) no later than 45
days after the end of any 12-month period (or 90 days after the end of any 12-month period if such period is a fiscal year) (or in each case within such extended period of time as may be permitted by the Commission for filing the applicable report
with the Commission) (i) commencing at the end of any fiscal quarter in which Registrable Securities are sold to underwriters in an underwritten offering or (ii) if not sold to underwriters in such an offering, commencing on the first day
of the first fiscal quarter of the Company after the effective date of a Registration Statement; 
 (8) use its reasonable best
efforts to prevent the issuance of any order suspending the effectiveness of a Registration Statement or suspending the qualification (or exemption from qualification) of any of the Registrable Securities included therein for sale in any
jurisdiction, and, in the event of the issuance of any stop order suspending the effectiveness 

  
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of a Registration Statement, or of any order suspending the qualification of any Registrable Securities included in such Registration Statement for sale in any jurisdiction, the Company will use
its reasonable best efforts promptly to obtain the withdrawal of such order at the earliest possible moment; 
 (9) obtain
“cold comfort” letters and updates thereof (which letters and updates (in form, scope and substance) shall be reasonably satisfactory to the managing underwriters, if any, and the Holders) from the independent certified public accountants
of the Company (and, if necessary, any other independent certified public accountants of any subsidiary of the Company or of any business acquired by the Company for which financial statements and financial data are, or are required to be, included
in the Registration Statement), addressed to each of the underwriters, if any, and each selling Holder of Registrable Securities, such letters to be in customary form and covering matters of the type customarily covered in “cold comfort”
letters in connection with underwritten offerings and such other matters as the underwriters, if any, or the Holders of a majority of the Registrable Securities being included in the registration may reasonably request; 

(10) obtain opinions of independent counsel to the Company and updates thereof (which counsel and opinions (in form, scope and substance)
shall be reasonably satisfactory to the managing underwriters, if any, and the Holders of a majority of the Registrable Securities being included in the registration), addressed to each selling Holder and each of the underwriters, if any, covering
the matters customarily covered in opinions of issuer’s counsel requested in underwritten offerings, such as the effectiveness of the Registration Statement and such other matters as may be requested by such counsel and underwriters, if any;

 (11) promptly notify the selling Holders and the managing underwriters, if any, and confirm such notice in writing, when a
Prospectus or any supplement or post-effective amendment to such Prospectus has been filed, and, with respect to a Registration Statement or any post-effective amendment thereto, when the same has become effective, (i) of any request by the
Commission or any other federal or state governmental authority for amendments or supplements to a Registration Statement or related Prospectus or for additional information, (ii) of the issuance by the Commission of any stop order suspending
the effectiveness of a Registration Statement or of any order preventing or suspending the use of any Prospectus or the initiation of any proceedings by any Person for that purpose, (iii) of the receipt by the Company of any notification with
respect to the suspension of the qualification or exemption from qualification of a Registration Statement or any of the Registrable Securities for offer or sale under the securities or blue sky laws of any jurisdiction, or the contemplation,
initiation or threatening, of any proceeding for such purpose, and (iv) of the happening of any event or the existence of any facts that make any statement made in such Registration Statement or Prospectus untrue in any material respect or that
require the making of any changes in such Registration Statement or Prospectus so that it will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements
therein, in light of the circumstances under which they were made (in the case of any Prospectus), not misleading (which notice shall be accompanied by an instruction to the selling Holders and the managing underwriters, if any, to suspend the use
of the Prospectus until the requisite changes have been made); 

  
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 (12) if requested by the managing underwriters, if any, or a Holder of Registrable
Securities being sold, promptly incorporate in a prospectus, supplement or post-effective amendment such information as the managing underwriters, if any, and the Holders of a majority of the Registrable Securities being sold reasonably request to
be included therein relating to the sale of the Registrable Securities, including, without limitation, information with respect to the number of shares of Registrable Securities being sold to underwriters, the purchase price being paid therefor by
such underwriters and with respect to any other terms of the underwritten offering of the Registrable Securities to be sold in such offering, and make all required filings of such prospectus, supplement or post-effective amendment promptly following
notification of the matters to be incorporated in such supplement or post-effective amendment; 
 (13) if requested, furnish to
each selling Holder of Registrable Securities and the managing underwriter, without charge, at least one signed copy of the Registration Statement; 
 (14) as promptly as practicable upon the occurrence of any event contemplated by Section 4(b)(11)(iv) above, prepare a supplement or post-effective amendment to the Registration Statement or
the Prospectus, or any document incorporated therein by reference, or file any other required document so that, as thereafter delivered to the purchasers of the Registrable Securities being sold hereunder, the Prospectus will not contain an untrue
statement of a material fact or an omission to state a material fact required to be stated in a Registration Statement or Prospectus or necessary to make the statements therein, in light of the circumstances under which they were made, not
misleading; and 
 (15) if such offering is an underwritten offering, enter into such agreements (including an underwriting
agreement in form, scope and substance as is customary in underwritten offerings) and take all such other appropriate and reasonable actions requested by the Holders owning a majority of the Registrable Securities being sold in connection therewith
or by the managing underwriters (including cooperating in reasonable marketing efforts, including in connection with any Demand Registration, participation by senior executives of the Company in any “roadshow” or similar meeting with
potential investors) in order to expedite or facilitate the disposition of such Registrable Securities, and in such connection, provide indemnification provisions and procedures substantially to the effect set forth in Section 6 hereof
with respect to all parties to be indemnified pursuant to said Section. The above shall be done at each closing under such underwriting or similar agreement, or as and to the extent required thereunder. 

Each Holder agrees by acquisition of such Registrable Securities that, upon receipt of written notice from the Company of the happening
of any event of the kind described in Section 4(b)(11), such Holder will forthwith discontinue disposition of such Registrable Securities covered by such Registration Statement until such Holder’s receipt of the copies of the
supplemented or amended Registration Statement contemplated by Section 4(b)(14), or until it is advised in writing by the Company that the use of the applicable Prospectus may be resumed, and has received copies of any additional or
supplemental filings that are incorporated or deemed to be incorporated by reference in such prospectus (such period during which disposition is discontinued being an “Interruption Period”), and, if so directed by the
Company, such Holder will deliver to the Company all copies of the Prospectus covering such Registrable Securities current at the time of receipt of such notice. 

  
 11 

 Section 5. Registration Expenses. 

(a) Expenses Payable by the Company. The Company shall bear all expenses incurred with respect to the registration or attempted
registration of the Registrable Securities pursuant to Sections 2 or 3 of this Agreement as provided herein. Such expenses shall include, without limitation, (i) all registration, qualification and filing fees (including, without
limitation, (A) fees with respect to compliance with the rules and regulation of the Commission, (B) fees with respect to filings required to be made with the national securities exchange or national market system on which the Common Stock
is then traded or quoted and (C) fees and expenses of compliance with state securities or blue sky laws (including, without limitation, fees and disbursements of counsel for the Company or the underwriters, or both, in connection with blue sky
qualifications of Registrable Securities)), (ii) messenger and delivery expenses, word processing, duplicating and printing expenses (including without limitation, expenses of printing certificates for Registrable Securities in a form eligible
for deposit with The Depository Trust Company, printing preliminary prospectuses, prospectuses, prospectus supplements, including those delivered to or for the account of the Holders and provided in this Agreement, and blue sky memoranda),
(iii) fees and disbursements of counsel for the Company, (iv) fees and disbursements of all independent certificated public accountants for the Company (including, without limitation, the expense of any “comfort letters” required
by or incident to such performance), (v) all out-of-pocket expenses of the Company (including without limitation, expenses incurred by the Company, its officers, directors, and employees performing legal or accounting duties or preparing or
participating in “roadshow” presentations or of any public relations, investor relations or other consultants or advisors retained by the Company in connection with any roadshow, including travel and lodging expenses of such roadshows),
(vi) fees and expenses incurred in connection with the quotation or listing of shares of Common Stock on any national securities exchange or other securities market, and (vii) reasonable fees and expenses of one firm of counsel for all
selling Holders (which shall be chosen by the Holders of a majority of Registrable Securities to be included in such offering). 

(b) Expenses Payable by the Holders. Each Holder shall pay all underwriting discounts and commissions or placement fees of
underwriters or broker’s commissions incurred in connection with the sale or other disposition of Registrable Securities for or on behalf of such Holder’s account. 
 Section 6. Indemnification. 
 (a) Indemnification by the Company. The
Company agrees to indemnify, to the fullest extent permitted by law, each Holder, each Affiliate of a Holder and each director, officer, employee, manager, stockholder, partner, member, counsel, agent or representative of such Holder and its
Affiliates and each Person who controls any such Person (within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act) (collectively, “Holder Indemnified Parties”) against, and
hold it and them harmless from, all losses, claims, damages, liabilities, actions, proceedings, costs (including, without limitation, costs of preparation and attorneys’ fees and disbursements) and expenses, including expenses of investigation
and amounts paid in settlement (collectively, “Losses”) arising out of, caused by or based upon any untrue or alleged untrue statement of material fact contained in any Registration Statement, or any omission or alleged
omission of a material fact required to be stated therein or 

  
 12 

 
necessary to make the statements therein not misleading (a “Misstatement/Omission”), or any violation or alleged violation by the Company of the Securities Act, the
Exchange Act, any state securities law, or any rule or regulation promulgated under the Securities Act, the Exchange Act or any state securities law, except that the Company shall not be liable insofar as such Misstatement/Omission or violation is
made in reliance upon and in conformity with information furnished in writing to the Company by such Holder expressly for use therein; provided, further, that the Company shall not be liable for a Holder’s failure to deliver or cause to be
delivered (to the extent such delivery is required under the Securities Act) the Prospectus contained in the Registration Statement, furnished to it by the Company on a timely basis at or prior to the time such action is required by the Securities
Act to the person claiming a Misstatement/Omission if such Misstatement/Omission was corrected in such Prospectus. In connection with an underwritten offering, the Company will indemnify such underwriters, selling brokers, dealer managers and
similar securities industry professionals participating in the distribution, their officers and directors and each Person who controls such underwriters (within the meaning of either Section 15 of the Securities Act or Section 20 of the
Exchange Act) to the same extent as provided above with respect to the indemnification of the Holders. This indemnity shall be in addition to any other indemnification arrangements to which the Company may otherwise be party. 

(b) Indemnification by the Holders. In connection with any Registration Statement in which a Holder is participating, each such
Holder agrees to indemnify, to the fullest extent permitted by law, the Company and each director and officer of the Company and each Person who controls the Company (within the meaning of either Section 15 of the Securities Act or
Section 20 of the Exchange Act) against, and hold it harmless from, any Losses arising out of or based upon (i) any Misstatement/Omission contained in the Registration Statement, if and to the extent that such Misstatement/Omission was
made in reliance upon and in conformity with information furnished in writing by such Holder for use therein, or (ii) the failure by such Holder to deliver or cause to be delivered (to the extent such delivery is required under the Securities
Act) the Prospectus contained in the Registration Statement, furnished to it by the Company on a timely basis at or prior to the time such action is required by the Securities Act to the person claiming a Misstatement/Omission if such
Misstatement/Omission was corrected in such Prospectus. Notwithstanding the foregoing, the obligation to indemnify will be individual (several and not joint) to each Holder and will be limited to the net amount of proceeds (net of payment of all
expenses) received by such Holder from the sale of Registrable Securities pursuant to such Registration Statement giving rise to such indemnification obligation. 
 (c) Conduct of Indemnification Proceedings. In case any action, claim or proceeding shall be brought against any Person entitled to indemnification hereunder, such indemnified party shall promptly
notify each indemnifying party in writing, and such indemnifying party shall assume the defense thereof, including the employment of one counsel reasonably satisfactory to such indemnified party and payment of all fees and expenses incurred in
connection with the defense thereof. The failure to so notify such indemnifying party shall relieve such indemnifying party of its indemnification obligations to such indemnified party to the extent that such failure to notify materially prejudiced
such indemnifying party but not from any liability that it or they may have to the indemnified party for contribution or otherwise. Each indemnified party shall have the right to employ separate counsel in such action, claim or proceeding and
participate in the defense thereof, but the fees and expenses of such counsel shall 

  
 13 

 
be at the expense of each indemnified party unless: (i) such indemnifying party has agreed to pay such expenses; (ii) such indemnifying party has failed promptly to assume the defense
and employ counsel reasonably satisfactory to such indemnified party; or (iii) the named parties to any such action, claim or proceeding (including any impleaded parties) include both such indemnified party and such indemnifying party or an
Affiliate or controlling person of such indemnifying party, and such indemnified party shall have been advised in writing by counsel that either (x) there may be one or more legal defenses available to it which are different from or in addition
to those available to such indemnifying party or such Affiliate or controlling person or (y) a conflict of interest may exist if such counsel represents such indemnified party and such indemnifying party or its Affiliate or controlling person;
provided, however, that such indemnifying party shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general
allegations or circumstances, be responsible hereunder for the fees and expenses of more than one separate firm of attorneys (in addition to any local counsel), which counsel shall be designated by such indemnified party or, in the event that such
indemnified party is a Holder Indemnified Party, by the Holders of a majority of the Registrable Securities included in the subject Registration Statement. 
 No indemnifying party shall be liable for any settlement effected without its written consent (which consent may not be unreasonably delayed or withheld). Each indemnifying party agrees that it will not,
without the indemnified party’s prior written consent, consent to entry of any judgment or settle or compromise any pending or threatened claim, action or proceeding in respect of which indemnification or contribution may be sought hereunder
unless the foregoing contains an unconditional release, in form and substance reasonably satisfactory to the indemnified parties, of the indemnified parties from all liability and obligation arising therefrom. The indemnifying party’s liability
to any such indemnified party hereunder shall not be extinguished solely because any other indemnified party is not entitled to indemnity hereunder. 
 (d) Survival. The indemnification provided for under this Agreement will (i) remain in full force and effect regardless of any investigation made by or on behalf of the indemnified party or
any officer, director or controlling Person of such indemnified party, (ii) survive the transfer of securities and (iii) survive the termination of this Agreement. 
 (e) Right to Contribution. If the indemnification provided for in this Section 6 is unavailable to, or insufficient to hold harmless, an indemnified party under Section 6(a)
or Section 6(b) above in respect of any Losses referred to in such Sections, then each applicable indemnifying party shall have an obligation to contribute to the amount paid or payable by such indemnified party as a result of such
Losses in such proportion as is appropriate to reflect the relative fault of the Company, on the one hand, and of the Holder, on the other, in connection with the Misstatement/Omission or violation which resulted in such Losses, taking into account
any other relevant equitable considerations. The amount paid or payable by a party as a result of the Losses referred to above shall be deemed to include, subject to the limitations set forth in Section 6(c) above, any legal or other
fees or expenses reasonably incurred by such party in connection with any investigation, lawsuit or legal or administrative action or proceeding. 
 The relative fault of the Company, on the one hand, and of the Holder, on the other, shall be determined by reference to, among other things, whether the relevant Misstatement/Omission or violation
relates to information supplied by the Company or by the Holder and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such Misstatement/Omission or violation. 

  
 14 

 The Company and each Holder agree that it would not be just and equitable if contribution
pursuant to this Section 6(e) were determined by pro rata allocation or by any other method of allocation which does not take account of the equitable considerations referred to above. Notwithstanding the provisions of this
Section 6(e), a Holder shall not be required to contribute any amount in excess of the amount by which (i) the amount (net of payment of all expenses) at which the securities that were sold by such Holder and distributed to the
public were offered to the public exceeds (ii) the amount of any damages which such Holder has otherwise been required to pay by reason of such Misstatement/Omission or violation. 

No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to
contribution from any Person who was not guilty of such fraudulent misrepresentation. 
 Section 7. Rules 144 and 144A.
The Company shall timely file the reports required to be filed by it under the Securities Act and the Exchange Act (including but not limited to the reports under Sections 13 and 15(d) of the Exchange Act referred to in subparagraph (c) of Rule
144 adopted by the Commission under the Securities Act) and the rules and regulations adopted by the Commission thereunder (or, if the Company is not required to file such reports, it will, upon the request of any Holder, make publicly available
other information) and will take such further action as any Holder may reasonably request, all to the extent required from time to time to enable such Holder to sell Registrable Securities without registration under the Securities Act within the
limitation of the exemptions provided by (a) Rule 144 and Rule 144A under the Securities Act, as such Rules may be amended from time to time, or (b) any similar rule or regulation hereafter adopted by the Commission. 

Section 8. Underwritten Registrations. 
 (a) No Person may participate in any registration hereunder which is underwritten unless such Person (i) agrees to sell such Person’s securities on the basis provided in any underwriting
arrangements approved by the Person or Persons entitled hereunder to approve such arrangements and (ii) completes and executes all questionnaires, powers of attorney, customary indemnities, underwriting agreements and other documents required
under the terms of such underwriting arrangements; provided, that, no Holder included in any underwritten registration shall be required to make any representations or warranties to the Company or the underwriters other than representations and
warranties regarding such Holder and such Holder’s intended method of distribution. 
 (b) If any of the Registrable
Securities covered by any Registration Statement are to be sold in an underwritten offering, the investment banker or investment bankers and manager or managers that will manage the offering will be selected by, and the underwriting arrangements
with respect thereto will be approved by, the Company; provided, however, that such investment bankers and managers and underwriting arrangements must be reasonably satisfactory to the Holders of the majority of Registrable Securities to be
included in such offering. 

  
 15 

 Section 9. Covenants of Holders. Each of the Holders hereby agrees (a) to
cooperate with the Company and to furnish to the Company all such information regarding such Holder, its ownership of Registrable Securities and the disposition of such securities in connection with the preparation of the Registration Statement and
any filings with any state securities commissions as the Company may reasonably request, (b) to the extent required by the Securities Act, to deliver or cause delivery of the Prospectus contained in the Registration Statement, any amendment or
supplement thereto, to any purchaser of the Registrable Securities covered by the Registration Statement from the Holder and (c) if requested by the Company, to notify the Company of any sale of Registrable Securities by such Holder.

 Section 10. Board and Information Rights 
 (a) Board Composition. The parties agree that so long as Gulfport beneficially owns (as defined in Rule 13d-3 promulgated under the Exchange Act (“Rule 13d-3”)) more
than 10% of the then issued and outstanding Common Stock, (i) the business and affairs of the Company shall be managed through a Board consisting of up to seven Directors, of which three Directors shall be Independent Directors and
(ii) Gulfport shall have the right to designate one Director (“Gulfport Director”). For purposes of this Agreement, in determining the percentage of shares of Common Stock beneficially owned by Gulfport, only shares of
Common Stock then issued and outstanding shall be included in the denominator and any Equity Right that has not then been exercised, converted or exchanged shall be excluded from the denominator regardless of the application of the beneficial
ownership rules of Rule 13d-3. 
 (b) Company Action to Nominate and Elect the Gulfport Director. Subject to
Section 10(g), the Company shall cause the initial Gulfport Director designated in accordance with Section 10(a) to be appointed to the Board prior to the completion of the Common Stock Offering and thereafter to use its
commercially reasonable efforts to cause the Gulfport Director to be nominated for election to the Board at each annual meeting of the Company’s stockholders at which directors are to be elected (or by stockholder consents in lieu of a meeting,
if applicable), shall solicit proxies (or stockholder consents in lieu of a meeting, if applicable) in favor thereof, and at each annual meeting of the Company’s stockholders at which Directors are to be elected, shall recommend that the
Company’s stockholders elect to the Board each such individual nominated for election at such annual meeting of the Company’s stockholders (or stockholder consents in lieu of a meeting, if applicable). So long as Gulfport has the right to
designate a Gulfport Director under this Agreement, if for any reason the Gulfport Director is not elected to the Board by the Company’s stockholders, Gulfport will be entitled to the Board Advisor rights set forth in Section 10(c).

 (c) Board Advisor Rights. 
 (1) So long as Gulfport has the right to designate a Gulfport Director under this Agreement and there is no Gulfport Director in office, Gulfport shall have the right to appoint one individual as an
advisor to the Board (a “Board Advisor”). The Board Advisor shall be entitled to attend meetings of the Board and any meetings of any committee of the Board and 

  
 16 

 
to receive all information provided to the members of the Board and any committee thereof (including minutes of previous meetings of the Board and any committee thereof). The Board Advisor shall
advise and counsel the Board on the business and operations of the Company as requested by the Board. The Board Advisor is not, and shall not have the duties and responsibilities of, a Director of the Company, and the terms “director” or
“member of the Board” as used in this Agreement shall not be deemed to mean or include the Board Advisor. Without limiting the generality of the foregoing, the Board Advisor shall not be entitled to vote on any matter presented for action
by the Board. The Board Advisor may be given such designations (including without limitation “advisory director”) as the Board may from time to time determine. For the avoidance of doubt, no Board Advisor shall have fiduciary obligations
to the Company or the Company’s stockholders, but shall be subject to all applicable securities Laws and to the confidentiality obligations applicable to Gulfport under Section 10(k)(2). 

(2) Gulfport shall have the right, in its sole discretion, to appoint the Board Advisor and to remove the Board Advisor, as well as the
right, in its sole discretion, to fill vacancies created by reason of the death, removal or resignation thereof. Gulfport shall have the right at any time to remove (with or without cause) the Board Advisor. In the event there is a vacancy in the
Board Advisor position at any time and for any reason (whether as a result of death, disability, retirement, resignation or removal of the Board Advisor), Gulfport shall have the right to designate a different individual to replace such Board
Advisor. 
 (d) Gulfport Designation, Removal and Vacancies. In the event a vacancy is created on the Board of the
Gulfport Director at any time that Gulfport has the right to designate a Gulfport Director under this Agreement (whether as a result of death, disability, retirement, resignation, removal or otherwise), Gulfport shall have the right, in its sole
discretion, to designate a different individual to replace such Gulfport Director and the Company shall nominate such Gulfport Director for election to the Board as provided in Section 10(b). 

(e) Committees. For so long as Gulfport has the right to designate a Gulfport Director, any committee composed of Directors shall
consist of at least one Gulfport Director provided that such Gulfport Director is “independent” and otherwise satisfies all requirements under the applicable rules and regulations of the SEC and the Marketplace Rules to serve on such
committee. 
 (f) Election Not to Exercise Designation Rights. Notwithstanding anything in Section 10 to the
contrary, this Section 10 confers upon Gulfport the right, but not the obligation, to designate the Gulfport Director, and Gulfport may, at its option, elect not to exercise any such right to designate the Gulfport Director. 

(g) Qualifications and Information. Notwithstanding anything to the contrary contained in this Agreement, each nominee for election
to the Board designated by Gulfport shall, in the reasonable judgment of the Board, (A) have the requisite skill and experience to serve as a director of a publicly traded company, and (B) not be prohibited or disqualified from serving as
a director of the Company pursuant to the applicable rules and regulations of the SEC and the Marketplace Rules or by applicable Law. The Board may adopt additional standards of skill and experience desired of potential candidates for nomination to
the Board of Directors, which will be reflected in a charter of a committee of the Board or other similar document. 

  
 17 

 
Gulfport shall timely provide the Company with accurate and complete information relating to its designee that may be required to be disclosed by the Company under the Exchange Act. In addition,
at the Company’s request, Gulfport shall cause its designee to complete and execute the Company’s standard Director and Officer Questionnaire prior to being admitted to the Board or any committee thereof or standing for reelection at an
annual meeting of the Company’s stockholders or at such other time as may be requested by the Company. 
 (h) Director
Insurance and Indemnification. The Company will obtain and maintain directors’ liability insurance and will at all times exercise the powers granted to it by its Organizational Documents, and by applicable Law to indemnify and hold harmless
to the fullest extent permitted by applicable Law present or former directors and officers of the Company against any threatened or actual claim, action, suit, proceeding or investigation made against them arising from their service in such
capacities (or service in such capacities for another enterprise at the request of the Company). 
 (i) Expenses of
Directors. The Company will promptly reimburse the Gulfport Director or Board Advisor, to the extent not an employee of the Company, for all of his or her reasonable out-of-pocket expenses incurred in attending each meeting of the Board or any
committee thereof consistent with the Company’s policies. 
 (j) Information Rights. In addition to, and without
limiting any rights that Gulfport may have with respect to inspection of the books and records of the Company under applicable Laws, the Company shall furnish to Gulfport, the following information, so long as Gulfport owns shares of Common Stock:

 (1) Annual Reports. As soon as available, and in any event within 50 days after the end of each Fiscal Year, the
audited balance sheet of the Company as at the end of each such Fiscal Year and the audited statements of income, cash flows and changes in stockholders’ equity for such year, accompanied by the certification of independent certified public
accountants of recognized national standing selected by the Board, to the effect that, except as set forth therein, such financial statements have been prepared in accordance with GAAP, applied on a basis consistent with prior years and fairly
present in all material respects the financial condition of the Company as of the dates thereof and the results of its operations and changes in its cash flows and stockholders’ equity for the periods covered thereby. 

(2) Quarterly Reports. As soon as available, and in any event within 30 days after the end of each fiscal quarter, the balance
sheet of the Company at the end of such quarter and the statements of income, cash flows and changes in stockholders’ equity for such quarter, all in reasonable detail and all prepared in accordance with GAAP, consistently applied, and
certified by the Chief Financial Officer of the Company. 
 (3) Information Required as a Result of Stockholder’s Filing
Status. The Company acknowledges that Stockholder is a Large Accelerated Filer and agrees to cooperate, provide sufficient access and provide all information necessary for Stockholder to satisfy its financial reporting and Exchange Act reporting
obligations as a Large Accelerated Filer. In accordance therewith, upon a request in writing by Stockholder that it requires certain financial information related to the Company in connection with Stockholder’s filing obligations

  
 18 

 
under the Exchange Act, including, but not limited a request for the information included in or described in the annual or quarterly reports set forth in Sections 10(j)(1) and
10(j)(2) as well as supporting information and schedules, the Company shall respond with such requested information in a timely manner, but in any event no less than five (5) business days from receipt of the written request with the
information requested. If for any reason the Company does not have the requested information available to it, it will respond to the Stockholder in writing within two (2) business days from receipt of the written request specifying the reasons
for unavailability of the information and a date upon which it believes the information will be available. When such requested information becomes available, the Company shall promptly send it to the Stockholder. In addition, in the event that
Stockholder’s financial reporting and Exchange Act reporting obligations require it to audit or perform other accounting or review procedures with respect to the Company’s financials or any information included therein, the Company shall,
and shall cause its officers, Directors and employees to afford Stockholder and its representatives, during normal business hours and upon reasonable notice, access at all reasonable times to its officers, employees, auditors, properties, offices,
plants and other facilities and to all books and records, necessary to perform any such audit or other accounting or review procedures. Such access and information shall be provided within the time period reasonably necessary to allow Stockholder to
conduct and complete its audit in a timely fashion and to timely include compliant financials in its Exchange Act reports and to timely file its Exchange Act reports. 
 (k) Inspection Rights. 
 (1) The Company shall, and shall cause its
officers, Directors and employees to afford Gulfport. for so long as Gulfport has the right to designate a Gulfport Director or has Board Advisor rights pursuant to Section 10(c), the opportunity to consult with its officers from time to time
regarding the Company’s affairs, finances and accounts as Gulfport may reasonably request upon reasonable notice. The right set forth in this Section 10(k) shall not, and is not intended to, limit any rights which Gulfport may have
with respect to the books and records of the Company, or to inspect its properties or discuss its affairs, finances and accounts under the laws of the jurisdiction in which the Company is incorporated. 

(2) Gulfport agrees that it will keep confidential and will not disclose, divulge or use for any purpose, other than to monitor its
investment in the Company, any confidential information obtained from the Company pursuant to the terms of this Agreement, unless such confidential information (A) is known or becomes known to the public in general (other than as a result of a
breach of this Section 10(k)(2) by Gulfport), (B) is or has been independently developed or conceived by the Gulfport without use of the Company’s confidential information or (C) is or has been made known or disclosed to
Gulfport by a third party without a breach of any obligation of confidentiality such third party may have to the Company; provided, however, that Gulfport may disclose confidential information (a) to its attorneys, accountants, consultants, and
other professionals to the extent needed for their services in connection with monitoring its investment in the Company, (b) to any officer, director or employees of Gulfport in the ordinary course of business, or (c) as may otherwise be
required by law, provided that Gulfport takes reasonable steps to minimize the extent of any such required disclosure and subject, in the case of clauses (a) and (b) to each recipient’s obligation to maintain the confidentiality of
that information as if such recipient was a party hereto. 

  
 19 

 (3) The Company acknowledges that Gulfport is in the oil and gas business and therefore is
always reviewing information of many oil and gas companies and properties which compete directly or indirectly with those of the Company. Subject to its agreement to only use confidential information to monitor its investment in the Company, nothing
in this Agreement shall preclude or in any way restrict Gulfport from investing or participating in any particular enterprise whether or not such enterprise has products or services which compete with those of the Company. 

Section 11. Miscellaneous. 
 (a) No Inconsistent Agreements. The Company will not hereafter enter into any agreement with respect to its securities that is inconsistent with, adversely effects or violates the rights granted to
the Holders in this Agreement; it being understood that the granting of additional demand or piggyback registration rights with respect to capital stock of the Company shall not be deemed adverse to the rights granted to Holders hereunder so long as
they do not (x) reduce, except as set forth in this Agreement, the amount of Registrable Securities that any Holder may include in any registration contemplated in this Agreement or (y) restrict or otherwise limit the exercise by any
Holder of its rights hereunder. 
 (b) Remedies. Any Person having rights under any provision of this Agreement will be
entitled to enforce such rights specifically to recover damages caused by reason of any breach of any provision of this Agreement and to exercise all other rights granted by law. The parties hereto agree and acknowledge that money damages may not be
an adequate remedy for any breach of the provisions of this Agreement and hereby agree to waive the defense in any action for specific performance or injunctive relief that a remedy at law would be adequate. Accordingly, any party may in its sole
discretion apply to any court of law or equity of competent jurisdiction (without posting any bond or other security) for specific performance and for other injunctive relief in order to enforce or prevent violation of the provisions of this
Agreement. 
 (c) Amendments and Waivers. This Agreement contains the entire understanding of the parties with respect to
its subject matter and supersedes any and all prior agreements, and neither it nor any part of it may in any way be altered, amended, extended, waived, discharged or terminated except by a written agreement that specifically references this
Agreement and the provisions to be so altered, amended, extended, waived, discharged or terminated is signed by each of the parties hereto and specifically states that it is intended to alter, amend, extend, waive, discharge or terminate this
agreement or a provision hereof. 
 (d) Successors and Assigns. This Agreement shall be binding upon and inure to the
benefit of the parties hereto and their respective successors and assigns. Except for the Board and information rights contained in Section 10 (which rights are non-transferable), the Holders may assign all rights under this Agreement;
provided, however, that no Holder may transfer or assign its rights hereunder unless such transferring Holder shall, prior to any such transfer, obtain from the transferee a joinder agreement in a form reasonably satisfactory to the Company and
deliver a copy of such joinder agreement to the Company and to the Holders. Only persons (other than the Stockholder hereto) that execute a joinder agreement shall be deemed to be Holders. The Company shall be given written notice by the
transferring Holder at the time of the transfer stating the name and address of the transferee and identifying the Registrable Securities transferred, provided, that, failure to give such notice shall not affect the validity of such transfer or
assignment. 

  
 20 

 (e) Severability. In the event that any one or more of the provisions contained
herein, or the application thereof in any circumstances, is held invalid, illegal or unenforceable in any respect for any reason, the validity, legality and enforceability of any such provision in every other respect and of the remaining provisions
hereof shall not be in any way impaired or affected, it being intended that the rights and privileges of the parties hereto shall be enforceable to the fullest extent permitted by law. 

(f) Counterparts. This Agreement may be executed in any number of counterparts, any one of which need not contain the signatures of
more than one party, but each of which when so executed shall be deemed to be an original and all such counterparts taken together shall constitute one and the same Agreement. 
 (g) Descriptive Headings: Interpretation. The descriptive headings of this Agreement are inserted for convenience of reference only and shall not limit or otherwise affect the meaning hereof. The
use of the word “including” in this Agreement shall be by way of example rather than by limitation. 
 (h)
Notices. All notices, requests and other communications provided for or permitted to be given under this Agreement must be in writing and shall be given by personal delivery, by certified or registered United States mail (postage prepaid,
return receipt requested), by a nationally recognized overnight delivery service for next day delivery, or by facsimile transmission, as follows (or to such other address as any party may give in a notice given in accordance with the provisions
hereof): 
 If to the Company: 
 Diamondback Energy, Inc. 
 14301 Caliber Drive, Suite 300 

Oklahoma City, OK 73134 
 Attention: General Counsel 
 Facsimile: (405) 463-6982 

If to the Stockholder: 
 Gulfport Energy Corporation 
 4313 N. May Avenue, Suite 100 

Oklahoma City, OK 73134 
 Attention: Chief Financial Officer 
 Facsimile: (405) 848-8816 

All notices, requests or other communications will be effective and deemed given only as follows: (i) if given by personal delivery, upon such
personal delivery, (ii) if sent by certified or registered mail, on the fifth business day after being deposited in the United States mail, (iii) if 

  
 21 

 
sent for next day delivery by overnight delivery service, on the date of delivery as confirmed by written confirmation of delivery, (iv) if sent by facsimile, upon the transmitter’s
confirmation of receipt of such facsimile transmission, except that if such confirmation is received after 5:00 p.m. (in the recipient’s time zone) on a business day, or is received on a day that is not a business day, then such notice, request
or communication will not be deemed effective or given until the next succeeding business day. Notices, requests and other communications sent in any other manner, including by electronic mail, will not be effective. 

(i) GOVERNING LAW; SUBMISSION TO JURISDICTION. THIS AGREEMENT SHALL BE DEEMED TO BE MADE IN AND IN ALL RESPECTS SHALL BE
INTERPRETED, CONSTRUED AND GOVERNED BY AND IN ACCORDANCE WITH THE LAW OF THE STATE OF DELAWARE WITHOUT REGARD TO THE CONFLICT OF LAW PRINCIPLES THEREOF. The parties hereby irrevocably submit to the jurisdiction of any federal court located in the
State of Delaware or any Delaware state court solely in respect of the interpretation and enforcement of the provisions of this Agreement, and in respect of the transactions contemplated hereby, and hereby waive, and agree not to assert, as a
defense in any action, suit or proceeding for the interpretation or enforcement hereof that it is not subject thereto or that such action, suit or proceeding may not be brought or is not maintainable in said courts or that the venue thereof may not
be appropriate or that this Agreement or any such document may not be enforced in or by such courts, and the parties hereto irrevocably agree that all claims with respect to such action or proceeding shall be heard and determined in such a Delaware
state or federal court. The parties hereby consent to and grant any such court jurisdiction over the person of such parties and over the subject matter of such dispute and agree that mailing of process or other papers in connection with any such
action or proceeding in the manner provided in the Section on notices above or in such other manner as may be permitted by law shall be valid and sufficient service thereof. 
 EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY IRREVOCABLY AND
UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT, OR THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT. EACH PARTY CERTIFIES AND
ACKNOWLEDGES THAT (I) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (II) EACH PARTY
UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (III) EACH PARTY MAKES THIS WAIVER VOLUNTARILY, AND (IV) EACH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS
SECTION. 

  
 22 

 (j) Entire Agreement. This Agreement is 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. This Agreement supersedes all prior agreements and understandings
between the parties with respect to such subject matter. 
 [SIGNATURE PAGE FOLLOWS] 

  
 23 

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

			
	 THE COMPANY:
  

DIAMONDBACK ENERGY, INC.

		
	By:	 	/s/ Randall J. Holder
	Name:	 	Randall J. Holder
	Title:	 	Vice President

  

			
	 THE STOCKHOLDER:
  

GULFPORT ENERGY CORPORATION

		
	By:	 	/s/ Michael G. Moore
	Name:	 	Michael G. Moore
	Title:	 	Vice President and Chief Financial Officer

 Signature Page to Investor Rights AgreementEX-10.54

 Exhibit 10.54 
 AGREEMENT FOR SALE AND PURCHASE OF PROPERTY 
 This Agreement
(“Agreement”) is entered into as of the last Date of Execution set forth on the signature page hereof (“Effective Date”) between RICHMOND PLAZA INVESTORS, L.P., a Georgia limited partnership (“Seller”), and
THE PHILLIPS EDISON GROUP LLC, an Ohio limited liability company (“Buyer”), with reference to the following: 

RECITALS 
 A. Seller owns certain real property described on attached Exhibit “A”, together with Seller’s right, title and interest in and to all appurtenant rights, privileges and
servitudes (collectively, the “Real Property”) commonly known as Richmond Plaza located at 3435 Wrightboro Road, Augusta, Georgia, together with all buildings, structures, or other improvements located thereon (but not those, if any, owned
by Tenants (as hereinafter defined)) (the “Improvements”) and all personal property (the “Personal Property”) described in the Bill of Sale attached hereto as Exhibit “G” (the Real Property, Improvements,
and Personal Property being collectively referred to as the “Property”). The Real Property consists of approximately 19.80 acres of land developed with buildings containing 178,167 sq. ft., more or less, of leasable area and related
improvements. 
 B. Seller agrees to sell and Buyer agrees to buy the Property upon the terms and conditions set forth below.

 NOW, THEREFORE, in consideration of the sum of One Dollar ($1.00), and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties agree as follows: 
 AGREEMENT. Seller agrees to sell and convey the
Property to Buyer, and Buyer agrees to purchase the Property from Seller, subject to the terms and conditions set forth in this Agreement. 

PURCHASE PRICE. The purchase price for the Property (“Purchase Price”) shall be Nineteen Million Seven Hundred Thousand Dollars
($19,700,000), payable in cash on the date of Closing (as defined in Paragraph 7.1 below) by wire transfer of immediately available funds, subject to prorations and adjustments at Closing as provided in this Agreement. 

DEPOSIT. 

1.1 Within three (3) business days after the Effective Date of this Agreement, Buyer shall deposit with Land Services USA,
Inc. (“Escrow Agent”) the sum of One Hundred Fifty Thousand Dollars ($150,000) (“Initial Deposit”) to be held as security for performance of Buyer’s obligations under this Agreement. The Initial Deposit shall be promptly
refunded to Buyer (less the Independent Consideration (as hereinafter defined)) if the Agreement terminates during the Review Period (as defined in Paragraph 3.1 below) in accordance with Paragraph 3.1 hereof. If Buyer elects to proceed, then
within one (1) business day after the expiration of the Review Period, Buyer shall deposit with Escrow Agent the sum of One Hundred Fifty Thousand Dollars ($150,000) (the “Second Deposit”) to be held as security for the performance of
Buyer’s obligations under this 

 
Agreement. The Initial Deposit and the Second Deposit, to the extent then paid, are collectively referred to herein as the “Deposit”. In the event that Buyer fails to make timely the
Second Deposit, this Agreement shall be deemed terminated, Escrow Agent shall release the Initial Deposit to Buyer and, upon Buyer’s receipt thereof, neither party shall have further liability hereunder except those obligations which expressly
survive the termination of this Agreement. From and after the expiration of the Review Period, the Deposit shall be non-refundable except in the case of Seller’s default hereunder or other conditions expressly set forth herein requiring return
of the Deposit to Buyer. In the event that Buyer defaults hereunder, the Deposit will serve as liquidated damages pursuant to Paragraph 1.2 below. Interest earned on the Deposit shall be considered part of the Deposit and shall be deemed
to have been earned by, and constitute income of, Buyer. Buyer’s FEIN is 45-3274671. 
 1.2 IN THE EVENT THE DEPOSIT IS
PAID TO SELLER AS PROVIDED HEREIN, THE DEPOSIT SHALL BE PAID TO SELLER AS LIQUIDATED DAMAGES. THE PARTIES AGREE THAT (A) PAYMENT OF THE DEPOSIT TO SELLER IS INTENDED TO COMPENSATE SELLER FOR DAMAGES IT WILL SUFFER AND NOT AS A PENALTY OR
FORFEITURE; (B) SELLER’S DAMAGES ARE EXTREMELY DIFFICULT TO ACCURATELY ASCERTAIN AND THAT PROOF OF SUCH AMOUNT WOULD BE COSTLY, TIME-CONSUMING AND INCONVENIENT; (C) THE AMOUNT OF THE DEPOSIT IS FAIR AND REASONABLE IN LIGHT OF ALL OF
THE CIRCUMSTANCES EXISTING ON THE EFFECTIVE DATE AND AT THE TIME OF PAYMENT, INCLUDING THE RELATIONSHIP OF SUCH AMOUNT TO THE RANGE OF HARM TO SELLER THAT REASONABLY COULD BE ANTICIPATED; (D) THIS CLAUSE HAS BEEN THE SUBJECT OF SPECIFIC
NEGOTIATION; (E) EACH PARTY HAS HAD THE OPPORTUNITY TO HAVE COUNSEL FULLY EXPLAIN THE CONSEQUENCES OF THIS CLAUSE; (F) EACH PARTY FULLY UNDERSTANDS THE CONSEQUENCES OF THIS CLAUSE; AND (G) SUCH LIQUIDATED DAMAGES SHALL BE
SELLER’S SOLE AND EXCLUSIVE REMEDY FOR BUYER’S DEFAULT AND SELLER SHALL NOT BE ENTITLED TO DEMAND SPECIFIC PERFORMANCE BY BUYER AND ITS AGENT, AND BUYER SHALL HAVE NO OTHER OR FURTHER OBLIGATION OR LIABILITY UNDER THIS AGREEMENT TO SELLER
ON ACCOUNT OF SUCH DEFAULT OR BREACH. 
  

					
	 	 	RFM	 	EAO
			
		 	Buyer’s Initials	 	Seller’s Initials

 1.3 The Deposit shall be applied to the Purchase Price at Closing. 

1.4 Notwithstanding anything set forth in this Agreement, pursuant to any term of this Agreement, should the Deposit be refunded to
Buyer, the amount of the Deposit to Buyer shall be less and except the sum of Fifty Dollars ($50.00) (the “Independent Consideration”), which shall be retained on behalf of Seller, which sum shall be deemed nonrefundable and fully earned
by Seller as of the execution of this Agreement by all parties hereto. 

  
 2 

 2. SELLER’S DELIVERIES. 

2.1 Within three (3) days after the Effective Date, Seller shall deliver or make available to Buyer the items listed on
attached Exhibit “C” (“Seller’s Deliveries”). 
 2.2 Notwithstanding any terms to
the contrary in this Agreement, (a) Seller shall not be obligated or otherwise required to furnish or make available to Buyer any of the following (collectively, “Excluded Property Records”): (i) any appraisals or other economic
evaluations of, or projections with respect to, all or any portion of the Property, including, without limitation, budgets, prepared by or on behalf of Seller or any affiliate of Seller; and (ii) any documents, materials or information which
are subject to attorney/client, work product or similar privilege, which constitute attorney communications with respect to the purchase of the Property by Seller, or which are subject to a confidentiality agreement, (b) Seller’s
Deliveries shall not include any Excluded Property Records; and (c) Seller shall have no obligation or liability of any kind to Buyer as a result of Seller not furnishing or making available to Buyer the Excluded Property Records. 

2.3 In the event that Buyer terminates this Agreement in accordance with Paragraph 3.1 or defaults under this Agreement,
Buyer shall, upon request, return to Seller all Seller’s Deliveries delivered to Buyer by Seller. 
 3. REVIEW PERIOD.

 3.1 Buyer shall have a period of thirty (30) days after the Effective Date (the “Review Period”) to
inspect the Property, to examine all of the financial books and other records of Seller pertaining to the Property, to review all of Seller’s Deliveries, to have the Property inspected by its engineers, to undertake environmental surveys and
assessments of the Property (including inquiries to governmental agencies), and to undertake all other inquiries, investigations, studies and surveys, as Buyer deems appropriate. Notwithstanding anything herein to the contrary, Buyer shall not
conduct or allow any physically intrusive testing of, on or under the Improvements or the Real Property without first obtaining Seller’s prior written consent as to the scope and timing of the due diligence to be performed. When seeking
Seller’s consent to any physically intrusive testing, Buyer shall specify the type of testing to be conducted, the proposed location of the testing and the contaminants or other environmental condition (such as an underground storage tank) for
which Buyer is testing. Buyer shall provide notice (which may be telephonic or via e-mail) to Seller not less than one (1) business day prior to each date Buyer or its engineers propose to enter the Real Property. Buyer agrees to repair and
restore the Improvements or the Real Property to the condition prior to such surveys and assessments and shall indemnify Seller against any injuries to persons or any physical damage to the Real Property to the extent solely caused by Buyer, its
agents and contractors, in undertaking any testing, borings, sampling or other investigations of the Real Property for purposes of this Agreement (the “Buyer Repair and Indemnity Obligations”). The Buyer Repair and Indemnity Obligations
shall survive any 

  
 3 

 
termination of this Agreement. Throughout the Review Period, Buyer shall have reasonable access to the Property and Seller’s financial records pertaining to the Property. Subject to the
provisions of the leases that encumber the Property (the “Leases”), all portions of the Property shall be available for inspection by Buyer during normal business hours during the Review Period. Such inspections by Buyer shall not
unreasonably interfere with or detract from the customary business operations of the Property or the tenants on the Property (the “Tenants”). Under no circumstances shall Buyer contact or interview any of the Tenants in connection with the
potential sale of the Property to Buyer without providing to Seller not less than two (2) business days’ notice of such interview, and Seller shall have the right to have a representative present to participate in such interview (provided,
however, that Buyer shall not be required to reschedule if Seller’s representative fails to attend the interview at the scheduled time of the interview). Buyer shall not be required to provide Seller with copies of any and all third party
reports prepared for Buyer in connection with or in any way relating to the Property unless Seller requests Buyer in writing to provide copies of the same (which copies will provided at Seller’s sole cost and expense). Except as required by law
or regulations or in connection with carrying out its obligations hereunder, Buyer shall not make any notifications or disclosures to any governmental authority or any other third party regarding any matter revealed in its inspections of the
Property without Seller’s written permission, which may be withheld in Seller’s sole discretion. To the extent Buyer makes such permitted notifications or disclosures, Buyer shall provide Seller with copies of same. Buyer shall have the
right at any time prior to the end of the Review Period to terminate this Agreement, for any reason or no reason at all, upon written notice to Seller and Escrow Agent, in which event (i) this Agreement shall terminate and be of no further
force or effect, (ii) the Deposit (less the Independent Consideration) shall be promptly returned to Buyer, and (iii) neither party shall have any further liability or obligation hereunder (except for such liabilities and obligations that
are expressly stated herein to survive termination of this Agreement). If Buyer notifies Seller and Escrow Agent in writing prior to the end of the Review Period that Buyer is satisfied with its review of the Property and Seller’s Deliveries,
the parties shall proceed to Closing, subject to satisfaction or waiver of the conditions contained herein. If such notice is not given, (i) this Agreement shall terminate and be of no further force or effect, (ii) the Deposit (less the
Independent Consideration) shall be promptly returned to Buyer, and (iii) neither party shall have any further liability or obligation hereunder (except for such liabilities and obligations that are expressly stated herein to survive
termination of this Agreement). 
 3.2 Buyer agrees that it shall for itself, and shall cause its engineers performing the
inspections to, obtain and maintain general commercial liability insurance in an amount not less than One Million Dollars ($1,000,000.00) from insurers reasonably acceptable to Seller, and such insurance policies shall name Seller as an additional
insured. Buyer shall provide Seller with certificates of insurance reflecting such coverage prior to any entry onto the Property. 
 3.3 Buyer agrees as follows: (a) the Seller’s Deliveries shall not be used or duplicated for any purpose other than the evaluation of the proposed purchase of the Property; (b) to
keep confidential and not disclose the Seller’s Deliveries and any 

  
 4 

 
information developed by Buyer (including any third-party reports prepared for Buyer) (collectively with the Seller’s Deliveries, the “Confidential Information”) to any third party
or entity other than the Buyer’s directors, officers, employees, counsel, representatives, agents, contractors, members, investors, accountants, consultants or potential lenders who need to have access to the Confidential Information in
connection with this Agreement (collectively, “Representatives”); (c) not to disclose to parties other than the Representatives the fact that discussions or negotiations are taking place concerning the possible purchase and sale of
the Property or any of the terms thereof; and (d) to direct its Representatives to comply with the terms of this Agreement prior to disclosing any of the Confidential Information to such Representatives, and to be liable for any non-compliance
by such Representatives. In the event Buyer or its Representative becomes legally compelled to disclose all or any part of the Confidential Information (whether by law, rule or regulation, including, but not limited to, regulations of the SEC (as
hereinafter defined)), Buyer will provide Seller with prompt written notice so that Seller may seek a protective order or other appropriate remedy and/or waive compliance with the provisions of this Paragraph 3.3. The obligations of Buyer
under this Paragraph 3.3 with respect to Confidential Information shall remain in effect except to the extent that Buyer can establish by written evidence that: (i) such Confidential Information is generally available to the public
(whether through public filings or otherwise) other than as a result of unauthorized disclosure by Buyer or persons to whom Buyer has made the information available; (ii) disclosure of such Confidential Information is specifically authorized in
writing by Seller; (iii) such Confidential Information was received by Buyer on a non-confidential basis (whether through public filings or otherwise) prior to receipt from Seller, form a third party lawfully possessing and lawfully entitled to
disclose such information; or (iv) such Confidential Information is required to be disclosed by Buyer as provided in the second and third sentences of this Paragraph 3.3 after compliance by Buyer with the provisions of the second
sentence of this Paragraph 3.3. The obligations contained in this Paragraph 3.3 shall not apply to disclosures made by Buyer in connection with enforcement of this Agreement. Buyer agrees to indemnity, defend and hold harmless Seller
from and against any damage, loss or expense, including reasonable attorneys’ fees, actually suffered by Seller resulting solely by reason of the unauthorized distribution or disclosure of the Confidential Information by Buyer or its
Representatives. 
 3.4 Subject to Paragraph 7.8, to the extent that Buyer intends to assume any of the Contracts
(as hereinafter defined), Buyer shall notify Seller, in writing, prior to the last day of the Review Period, which of the Contracts Buyer intends to assume at Closing. 
 4. TITLE REVIEW AND SURVEY. 
 4.1 Title to the Property (both
legal and beneficial) shall be good, marketable and indefeasible and free and clear of all liens, restrictions, easements, encumbrances and title objections, except for the Permitted Exceptions (as defined below), and shall be insurable as such at
standard rates by Land Services USA, Inc. (the “Title Company”). 
 4.2 Within five (5) days after the
Effective Date, Buyer shall order or cause to be ordered, at Buyer’s expense, a title commitment (“Title Commitment”) to issue the 

  
 5 

 
Owner’s Title Policy (as hereinafter defined) for the Property from the Title Company, together with copies of all underlying documents of record referred to therein. Within two
(2) business days after receipt of the Title Commitment, Buyer shall order an ALTA/ACSM Land Title Survey of the Property acceptable to Buyer (“Survey”). The Title Commitment and the Survey shall be referred to collectively herein as
“Title Documents”. 
 4.3 Within five (5) business days after Buyer’s receipt of the last to be
received of the Title Commitment and Survey (but in no event later than five (5) days prior to the expiration of the Review Period), Buyer shall review the Title Documents and deliver to Seller in writing its objections (“Buyer’s
Objections”) with regard to anything contained or set forth therein. The following items shall be deemed “Permitted Exceptions”: (a) those items created or assumed in writing by Buyer; (b) zoning ordinances that do not
interfere with the present use of the Property as a commercial shopping center facility; (c) real estate taxes which are a lien on the Property but which are not yet due and payable; and (d) any other item shown on the Title Documents and
not expressly and timely objected to by Buyer shall be deemed “Permitted Exceptions”. 
 4.4 Seller shall use
its good faith efforts to cure Buyer’s Objections and shall have until two (2) business days prior to the expiration of the Review Period to notify Buyer of its proposed cure for each of Buyer’s Objections (which notice may be sent to
Buyer via e-mail notwithstanding Paragraph 11.7) and to provide Buyer with revised Title Documents evidencing that such Buyer’s Objections have been remedied and/or insured over in a manner satisfactory to Buyer in its sole and absolute
discretion. If Seller is unable more than two (2) days prior to the expiration of the Review Period, to cure Buyer’s Objections, then Buyer, at its sole option, prior to the expiration of the Review Period, may (a) terminate this
Agreement upon written notice to Seller and the Deposit shall be promptly returned to Buyer and this Agreement shall terminate and become null and void and of no effect and the parties shall be released from all further obligations hereunder (except
for such liabilities and obligations that are expressly stated herein to survive termination of this Agreement); or (b) notify Seller that Buyer will close subject to such uncured Buyer’s Objections (without any adjustment in the Purchase
Price) and such uncured Buyer’s Objections shall be deemed Permitted Exceptions. Notwithstanding the foregoing, Seller shall be obligated at Closing to cause the release of (and in no event shall the following be deemed Permitted Exceptions):
all mortgages or deeds of trust executed by Seller, mechanic’s liens for work performed on behalf of Seller, tax liens (other than liens for real estate taxes for the current year not yet due and payable), all judgment liens against the Seller
and all other liens and encumbrances against the Property arising from the acts or omissions of Seller and securing liquidated amounts. 
 4.5 Buyer shall have the right to reexamine title to the Property and update the Survey at any time and from time to time prior to Closing, and with respect to any title exceptions, encroachments
over the boundaries of the Real Property, or alterations or improvements to the Real Property or to the footprint of the Improvements first occurring or arising subsequent to the effective date of the Title Commitment or the Survey obtained by Buyer
pursuant to Paragraph 4.2, Buyer shall have the same rights set forth 

  
 6 

 
in this Section 4 (provided however that if Seller is unable to cure such new items, then Buyer may terminate this Agreement and the Deposit shall be promptly returned to Buyer,
regardless of whether the Review Period has expired). 
 4.6 On or prior to the Closing, Seller shall deliver to the
Escrow Agent, all customary and reasonable documentation required by the Title Company to issue a 2006 Form ALTA Owner’s Title Policy in the amount of the Purchase Price without standard exceptions and subject only to the Permitted Exceptions
(the “Owner’s Title Policy”). 
 4.7 If title to the Property at Closing shall not be as required by this
Agreement, Buyer shall have the option of either taking such title as Seller can convey without abatement of price, or of canceling this Agreement. In the latter event, the Deposit shall promptly be returned to Buyer and this Agreement shall
terminate and become null and void and of no effect and the parties shall be released from all further obligations hereunder (except for such liabilities and obligations that are expressly stated herein to survive termination of this Agreement). The
foregoing shall not be deemed to limit Buyer’s remedies for a default of Seller under Paragraph 11.13. 
 4.8
The Property description to be included in the Deed (as defined below), to be delivered from Seller to Buyer at Closing, shall be the Exhibit “A” legal description attached to this Agreement. If the legal description of
the Property, as prepared from the Survey, is different from the Exhibit “A” legal description, Seller shall also execute and deliver at Closing a quitclaim deed containing a legal description of the Property prepared from
the Survey. 
 5. REPRESENTATIONS, WARRANTIES AND COVENANTS. 

5.1 Seller’s Representations and Warranties. Seller represents and warrants to Buyer the following as of the Effective
Date and as of the Closing as though made on and as of each such date: 
 a. Seller is a limited partnership, duly
organized and existing in good standing or full force and effect under the laws of the State of Georgia. Seller has the power to own its property and to carry on its business as now being conducted. Seller is (or will be as of Closing) duly and
legally authorized to enter into this Agreement and carry out and perform all covenants to be performed by it hereunder and its right to execute this Agreement is not limited by the existence of any other contracts or agreements whatsoever. Neither
the execution and delivery of this Agreement nor the consummation by Seller of the transaction contemplated hereby will (i) conflict with or result in a breach of or default under any of the terms, conditions or provisions of any note, bond,
mortgage, indenture, license, agreement or other instrument or obligation to which Seller is a party or by which it or the Property is bound, or (ii) violate any order, injunction, decree, statute, rule or regulation applicable to Seller or the
Property. 
 b. Seller has provided to Buyer as part of the Seller’s Deliveries true, correct and complete copies of
(i) all Leases (including all amendments thereto) of any 

  
 7 

 
portion of the Property currently in effect as set forth in the Rent Roll (as defined below), and (ii) all service contracts executed by Seller currently in effect as set forth in
Exhibit “O” (the “Contracts”). 
 c. Except as described on attached Exhibit
“D”, Seller has not received written notice of any violation of any applicable federal, state or local laws, codes, rules, ordinances or orders or of any covenant, condition, restriction, instrument or agreement affecting or
relating to the Property, including without limitation those relating to environmental, health, safety, zoning, platting, fire, seismic or other land use requirements, which has not been corrected to the satisfaction of the appropriate governmental
authority, or which would affect the use or income of the Property. 
 d. Seller has received no written notice and has no
knowledge to the effect that, there is located in, on, under or about the Property any “Hazardous Materials” in violation of any applicable federal, state or local laws. For purposes hereof, “Hazardous Materials” means any
substance, material or waste that is currently regulated by any local governmental authority, the state in which the Property is located or the United States Government, including, but not limited to, any material or substance which is
(i) petroleum; (ii) asbestos or asbestos-containing materials; (iii) polychlorinated biphenyls; (iv) urea formaldehyde foam insulation; or (v) deemed to be a pollutant, contaminant, hazardous material, hazardous substance,
hazardous chemical, hazardous waste, extremely hazardous waste, toxic substance or material or restricted hazardous waste pursuant to applicable laws. 
 e. Seller has the exclusive right of possession of the Property, subject only to easements and rights-of-way of record and the Leases. Except as set forth on Exhibit “P,”
the Leases are in full force and effect and, to Seller’s knowledge, there are no defaults thereunder. 
 f. No rents,
Leases, concession agreements or licenses are assigned or pledged by Seller to any person other than the holder of any first mortgage presently encumbering the Property. 
 g. Seller has received no written notice and has no knowledge as to any default or breach by Seller under any Leases, covenants, conditions, restrictions, rights-of-way, or easements that may
affect the Property or any portion thereof. 
 h. There are no legal or insurance proceedings or lawsuits outstanding or,
to Seller’s knowledge, threatened against or affecting the Property, except as disclosed on attached Exhibit “E”. 
 i. Except for the Leases, and except for those of the Seller’s Deliveries which by their terms shall not expire or terminate on or before Closing, Seller has not executed or otherwise entered
into any lease, occupancy agreement, or contract affecting the Property which will survive Closing. 

  
 8 

 j. Seller has no employees assigned to the Property and is not a party to any
collective bargaining agreement, and neither Seller nor any of its affiliates (as described in Section 414(b), (c) and (m) of the Internal Revenue Code) has incurred any liability which could subject Buyer or any asset to be acquired
by Buyer pursuant to this Agreement to any lien or material liability under Sections 302(f), 4062, 4063, 4064, 4201 or 4301(b) of the Employee Retirement Income Security Act of 1974, as amended, or Section 401(a) (29) or 412 of the
Internal Revenue Code. 
 k. Except as set forth on Exhibit “H,” (i) no tenants of the
Property are entitled to any concessions, rebates, allowances, or free rent for any period after the Closing and, (ii) there are no real estate brokerage or leasing commissions due under any Leases or other occupancy agreements pertaining to
the Property, including such commissions due for lease renewals or expansions. 
 l. The Contracts are the only
agreements, contracts, and/or understandings relating to the operation and maintenance of the Property and Seller has not contracted for any services or employment and has made no commitments or obligations therefor which will bind Buyer as a
successor in interest with respect to the Property and all of the Contracts are terminable by Seller prior to Closing. 
 m.
The rent roll attached hereto as Exhibit “N” (“Rent Roll”) is a true and correct list of all of the Leases presently in force and affecting the Property and truly and correctly sets forth the lease term, base
rental, and tenant name. 
 n. Neither Seller nor any of its affiliates, is a person or entity whom U.S. persons or
entities are restricted from doing business under regulations of the OFAC of the Department of the Treasury (including those named on OFAC’s Specially Designated and Blocked Persons List) or under any statute, executive order (including the
September 24, 2001, Executive Order Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit, or Support Terrorism), or other governmental action. 
 Representations and warranties above that are expressly limited to Seller’s knowledge shall be based solely on the knowledge of Elizabeth Owens and John Braithwaite (the “Designated
Representatives”), respectively, a senior vice president and a vice president of the general partner of Seller. Buyer acknowledges that the Designated Representatives are named solely for the purpose of defining the scope of Seller’s
knowledge and not for the purpose of imposing any liability on or creating any duties running from the Designated Representatives to Buyer. Buyer covenants that it will bring no action of any kind against the Designated Representatives related to or
arising out of these representations and warranties. 
 5.2 Seller’s Covenants. In addition to all other
covenants of Seller contained in this Agreement, 
 Seller covenants and agrees that from the Effective Date through the Closing:

 a. Seller will operate the Property in substantially the same manner as conducted prior to the Effective Date.

  
 9 

 b. If, during the Review Period, Seller (i) enters into any new leases or
contracts affecting the operation of the Property; (ii) renews or amends any existing contracts for terms exceeding six (6) months (unless such contracts are terminable on thirty (30) days’ notice), or involving a monthly
expenditure in excess of that currently being paid under such existing contract; (iii) commences collection or eviction proceedings against defaulting Tenants; (iv) accepts surrender or permits termination of any of the Leases;
(v) enters into modifications, extensions or renewals of existing Leases or contracts; or (vi) terminates any tax appeals, condemnation award proceedings, insurance settlement negotiations or proceedings, zoning changes, public roadway
and/or traffic realignment negotiations with public authorities or the like, and/or storm water management agreements and the like benefiting the Property (collectively, “New Agreements”), Seller shall promptly give written notice thereof
to Buyer prior to the conclusion of the Review Period and in sufficient time for Buyer to review and exercise its right to terminate this Agreement during the Review Period. Following the expiration of the Review Period (provided this Agreement has
not been terminated) through the Closing, Seller will not enter into any New Agreements without Buyer’s prior written consent, which may be granted or denied in Buyer’s sole and absolute discretion. Buyer’s failure to consent or
withhold consent within seven (7) business days after written request from Seller shall be deemed that Buyer has consented to the New Agreement described in the applicable request. 

c. Seller shall notify Buyer of any written notices Seller receives regarding pending litigation affecting the Property and will
provide Buyer with copies of any written default notices sent by Seller to, or received by Seller from, any Tenants or any service or materials providers to the Property sent or received from and after the Effective Date up through the Closing.

 d. Seller will not take any affirmative action the effect of which would be to cause any of the representations or
warranties of Seller in this Agreement to be untrue as of Closing. 
 e. Seller will hire no employees for the Property
after the Effective Date whose employment will last past the Closing Date. 
 f. Seller shall advise Buyer if Seller
receives any written notice from Kroger, Inc. (“Kroger”) or knowledge directly from corporate management of Kroger concerning Kroger’s ceasing operations from the Property and/or terminating its Lease. 

  
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 5.3 Buyer’s Representations. Buyer represents and warrants to Seller the
following as of the Effective Date and as of the Closing as though made on and as of each date: 
 a. Buyer is a limited
liability company, duly organized and existing in good standing or full force and effect under the laws of the State of Ohio. Buyer has the power to own its property and to carry on its business as now being conducted. Buyer is (or will be as of
Closing) duly and legally authorized to enter into this Agreement and carry out and perform all covenants to be performed by it hereunder and its right to execute this Agreement is not limited by the existence of any other contracts or agreements
whatsoever. Neither the execution and delivery of this Agreement nor the consummation by Buyer of the transaction contemplated hereby will (i) conflict with or result in a breach of or default under any of the terms, conditions or provisions of
any note, bond, mortgage, indenture, license, agreement or other instrument or obligation to which Buyer is a party or by which it is bound, or (ii) violate any order, injunction, decree, statute, rule or regulation applicable to Buyer.

 b. Buyer has not (i) commenced a voluntary case, or had entered against it a petition, for relief under any
federal bankruptcy act or any similar petition, order or decree under any federal or state law or statute relative to bankruptcy, insolvency or other relief for debtors, (ii) caused, suffered or consented to the appointment of a receiver,
trustee, administrator, conservator, liquidator or similar official in any federal, state or foreign judicial or non-judicial proceeding, to hold, administer and/or liquidate all or substantially all of its property, or (iii) made an assignment
for the benefit of creditors. 
 c. Buyer does not hold “plan assets” as such term is defined under the
Department of Labor regulation found at 29 C.F.R. Section 2510.3-101. 
 d. Neither Buyer nor any of its affiliates,
is a person or entity whom U.S. persons or entities are restricted from doing business under regulations of the OFAC of the Department of the Treasury (including those named on OFAC’s Specially Designated and Blocked Persons List) or under any
statute, executive order (including the September 24, 2001, Executive Order Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit, or Support Terrorism), or other governmental action. 

5.4 Survival. The representations, warranties and covenants made by Seller in Paragraph 5.1 above and the
representations made by Buyer in Paragraph 5.3 above are true and correct in all material respects as of the Effective Date, shall be true and correct in all material respects and deemed repeated as of the Closing Date (as defined
below), and shall survive Closing for a period of twelve (12) months. 
 5.5 Limited Liability. Buyer will not have
any right to bring any action against Seller as a result of any untruth or inaccuracy of any representations and warranties of Seller set forth in this Agreement or any Seller Estoppel (as defined below) or breach of covenant, unless and until the
aggregate amount of all liability and losses arising out of any such untruth(s) or inaccuracy(ies), or any such breaches, exceeds $25,000. In addition, in no event will Seller’s liability for all such breaches exceed, in the aggregate,
$600,000. Seller shall have no liability with respect to any of Seller’s representations, warranties and covenants herein if, prior to the Closing, Buyer has actual knowledge of 

  
 11 

 
any breach of a representation, warranty or covenant of Seller herein, or Buyer obtains knowledge (from whatever source, including, without limitation, estoppel certificates from the Tenants or
any of the Seller’s Deliveries, as a result of Buyer’s inspections, the inclusion of any information in or written disclosure by Seller or Seller’s agents and employees) that contradicts any of Seller’s representations and
warranties herein, and Buyer nevertheless consummates the transaction contemplated by this Agreement. The provisions of this Paragraph 5.5 shall survive Closing. 
 5.6 Post-Closing Audit. To the extent that Seller does not provide to Buyer at Closing an audited financial statement for each year (and unaudited financial statement for any interim period)
that Buyer would be required to include in its post-Closing filing with the Securities and Exchange Commission (the “SEC”) in order for Buyer to comply with Rule 3.05 or Rule 3-14 as applicable of Regulation S-X with regard to Buyer’s
acquisition of the Property, then upon written request of Buyer (such request to be made no later than three (3) years after the Closing Date), Seller, at no cost to Seller, shall provide to Buyer, during regular business hours, access to such
income and expense records for the Property for each applicable year (and interim period) that is reasonably required in order for Buyer, at Buyers’ expense, to prepare audited and unaudited financial statements as are necessary for Buyer to
comply with either Rule 3.05 or Rule 3-14 as applicable of Regulation S-X. Seller shall reasonably cooperate with Buyer in connection with Buyer’s preparation of the audited and unaudited financial statements, all at Buyer’s expense.

 6. CONDITIONS. 
 6.1 Buyer’s obligations to close the transaction contemplated by this Agreement are subject to satisfaction or waiver by Buyer of the following conditions: 

a. The timely and complete performance by Seller of its material covenants and material obligations under this Agreement.

 b. The truth and accuracy in every material respect, as of the Effective Date and the date of Closing, of each and
every representation and warranty of Seller. 
 c. Seller having marketable, indefeasible fee simple title to the
Property, subject only to the Permitted Exceptions. 
 d. There shall be no effective injunction or restraining order of
any nature issued by a court of competent jurisdiction directing that this transaction not be consummated. 
 e. All
contracts pertaining to the Property that Buyer determines to assume during the Review Period shall be in full force and effect in accordance with their respective terms, and there shall be no material default thereunder. 

f. No written notice from any governmental authority of any modification or violation of any zoning law applicable to the Property
shall have been delivered to Seller, which modification or violation will have a material adverse effect on the current use of the Property. 

  
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 g. On or before the Closing Date, Seller shall have delivered to Buyer estoppel
certificates (acceptable to Buyer in its reasonable discretion) from each of the Major Tenants (as hereinafter defined) and from seventy-five percent (75%) of the remaining leased square foot area of the Property (excluding the Governmental
Tenants (as hereinafter defined)), in generally the same to be on the form attached hereto as Exhibit “K” and shall not be dated more than thirty (30) days prior to the Closing. In the event that any Lease provides for
the form or content of an estoppel certificate that such Tenant shall be required to deliver, then such Tenant’s estoppel certificate may be in such form or contain only those matters as an estoppel certificate is required to address pursuant
to the related Lease. The term “Major Tenants” shall mean Kroger, Chuck E Cheese’s, Jo Ann’s Fabrics, Harbor Freight Tools USA, Inc., Burger King Corporation and Mattress Firm. The term “Governmental Tenants” shall mean
Army/Air Force and Navy/Marines (or the General Services Administration acting on their behalf). If the estoppel certificates required under this Paragraph 6.1(g) cannot be timely delivered, Seller may, but shall not be obligated to,
(A) provided that Seller gives notice to Buyer at least five (5) days before Closing, adjourn the Closing for a period not to exceed fifteen (15) days, to obtain the same or (B) elect to deliver a seller estoppel certificate
executed by Seller in substantially the same form as the estoppel letter form to be delivered by tenants of the Property hereunder with the applicable lease information completed therein and with appropriate knowledge qualifiers for Seller (the
“Seller Estoppel”) for no more than fifteen percent (15%) of the rentable area of the Property; provided however, Seller may not deliver a Seller Estoppel for any of the Major Tenants. Seller shall be entirely released from liability
under a Seller Estoppel upon delivery to Buyer of an estoppel certificate from the corresponding Tenant to the extent such estoppel certificate is in a form which complies with this Paragraph 6.1(g). 

h. Within two (2) business days after receipt from Buyer or Buyer’s lender, Seller shall deliver to such Tenants as Buyer
or Buyer’s lender may require subordination, non-disturbance and attornment agreements (“SNDAs”) in the form provided to Seller by Buyer or Buyer’s lender. This Agreement shall not be conditioned upon any one or more of the
Tenants executing and delivering to Buyer SNDAs. 
 i. During the period of time from the expiration of the Review Period
until the date of Closing, Kroger shall not have (A) ceased operating from the Property, (B) terminated its Lease, (C) announced in writing that it shall be closing its store from the Property or (D) filed, or announced in
writing that it intends to file, for bankruptcy protection from its creditors. 
 6.2 Seller’s obligations to close
the transaction contemplated by this Agreement are subject to satisfaction or waiver by Seller of the following conditions: 

a. The timely and complete performance by Buyer of its material covenants and material obligations under this Agreement.

  
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 b. The truth and accuracy in every material respect, as of the Effective Date and the
date of Closing, of each and every representation and warranty of Buyer. 
 6.3 So long as a party is not in default
hereunder, if any condition to such party’s obligation to proceed with the Closing hereunder has not been satisfied as of the Closing Date, such party may, in its sole discretion, terminate this Agreement by delivering written notice to the
other party on or before the Closing Date, or elect to close notwithstanding the non-satisfaction of such condition, in which event such party shall be deemed to have waived any such condition. In the event such party elects to close,
notwithstanding the non-satisfaction of such condition, there shall be no liability on the part of any other party hereto for breaches of representations and warranties of which the party electing to close had actual knowledge at the Closing. In the
event of termination, the failure of a condition due to the breach of a party shall not relieve such breaching party from any liability it would otherwise have hereunder. 
 7. CLOSING. 
 7.1 The closing of the purchase and sale
contemplated hereby (“Closing”) shall be held at the offices of the Escrow Agent no later than fifteen (15) days after the expiration of the Review Period (“Closing Date”), on such date that is selected by Buyer upon three
(3) business days’ written notice to Seller, Escrow Agent, and Title Company but subject to extension as provided in Paragraphs 6.1(g), 10.2 and 10.4. 

7.2 At Closing (except as otherwise expressly required below), Seller shall execute and/or deliver (or cause to be executed and
delivered as appropriate) to Escrow Agent: 
 a. The limited warranty deed as attached as Exhibit
“F” (“Deed”), conveying title to the Property. 
 b. The Bill of Sale attached as
Exhibit “G”. 
 c. Intentionally Omitted. 

d. The Assignment and Assumption of Leases, Intangible Rights and Obligations attached as Exhibit “I”.

 e. A Tax Certification in the form attached as Exhibit “J”, pursuant to Internal Revenue Code
Section 1445. In addition, required affidavit under forms promulgated pursuant to Official Code of Georgia Annotated (“O.C.G.A.”) Section 48-7-128, confirming that Seller is a resident or “deemed resident” for purposes
of withholding 3% of the gain of the sale from Seller’s proceeds for payment to the Georgia Department of Revenue. 
 f.
Copies of notices terminating and canceling any and all service contracts, maintenance agreements or other agreements to which Seller is a party, if any, that Buyer has elected not to assume in writing given to Buyer prior to the expiration of
the Review Period. 

  
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 g. The Notice to Tenants in the form attached as Exhibit “L”.

 h. True, correct and complete copies of any plans and specifications and development plans in Seller’s or its
property or asset manager’s possession, Leases and service contracts, including all modifications or amendments thereof that exist (and have not been terminated pursuant to Paragraph 7.2(f)), all keys, security and pass codes for the Property,
all codes and access for any website pertaining to the Property and copies of all default notices sent by Seller to any of the Tenants. 
 i. Authorizing resolutions to evidence the authorization of the sale of the Property by Seller and the delivery by Seller of all of the closing documents required by this Agreement. 

j. Such standard form affidavits as the Title Company may reasonably require in order to issue the Owner’s Title Policy as
required herein and to insure title to the Property after the Closing. 
 k. Pursuant to the provisions of Paragraph
4.8 hereof, if necessary or required, a quitclaim deed shall be executed by Seller to Buyer conveying any and all interest it may have in and to the Property set forth on the Survey. 

l. A transfer tax declaration form. 
 m. An affidavit stating that the Rent Roll attached to this Agreement as an exhibit is, as of Closing, true, accurate and complete and noting any differences between such Rent Roll and the then
current state of facts with respect to the matters set forth on the Rent Roll. 
 n. A so-called “bring down”
certificate advancing the effective date of Seller’s Representations to be as of the Closing Date, same to be in the form of Exhibit “M” attached hereto. 

o. An escrow agreement in the form of Exhibit “Q” attached hereto (the “Jo-Ann’s Escrow
Agreement”). 
 7.3 At Closing, Buyer shall execute and/or deliver to the Escrow Agent: 

a. The balance of the Purchase Price, by wire transfer of immediately available U.S. Federal Funds, to be received at or before
2:00 p.m., Eastern Time, on the Closing Date in the Escrow Agent’s escrow account. 
 b. Intentionally
Omitted. 
 c. The Assignment and Assumption of Intangible Rights and Obligations in the form attached as
Exhibit “I”. 

  
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 d. Authorizing resolutions evidencing that Buyer has the requisite power and
authority to enter into and perform this Agreement and the documents to be signed by it in connection therewith. 
 e. The
Jo-Ann’s Escrow Agreement. 
 7.4 At Closing, Seller shall pay the following costs and expenses: 

a. Any transfer taxes and/or conveyance fees and stamps on the Deed and Georgia Withholding Tax pursuant to O.C.G.A.
Section 48-7-128, if applicable. 
 b. To Buyer, all tenant security and other deposits pursuant to the Leases.

 c. To Buyer, all prepaid rents. 
 d. All fees and costs to release liens (including, but not limited to any existing financing) and to correct title matters (to the extent Seller agreed to cure such matters pursuant to Paragraph
4.4 of this Agreement) against the Property. 
 e. Any recording fees relating to its obligations to correct title
matters (to the extent Seller agreed to cure such matters pursuant to Paragraph 4.4 of this Agreement) against the Property. 
 f. With regard to any existing financing, all prepayment penalties and termination or filing fees for any UCC financing statements. 

g. One-half (1/2) of escrow and/or closing fees. 
 h. Seller’s attorneys’ fees and expenses. 
 7.5 At Closing,
Buyer shall pay the following costs and expenses: 
 a. The cash portion of the Purchase Price. 

b. All expenses relating to its due diligence and investigation of the Property. 

c. Except as expressly provided in Paragraph 7.4, any recording fees for documentation to be recorded in connection with the
transactions contemplated by this Agreement. 
 d. One-half (1/2) of escrow and/or closing fees 

e. All UCC searches. 
 f. All premiums and fees for any Loan Title Policy and all endorsements thereto. 
 g. All fees and costs for the Survey. 

  
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 h. All costs of any financing obtained by Buyer. 

i. Buyer’s attorneys’ fees and expenses. 
 j. All premiums and fees for the Owner’s Title Policy. 
 k. All
premiums and fees for title examination and all related charges. 
 l. All premiums for extended coverage and any and all
endorsements to the Owner’s Title Policy. 
 m. Any prorated amounts for costs and expenses paid in advance by Seller
as provided in Section 8. 
 7.6 Except for electrical, gas and water utility services that are supplied to
and directly paid for by any of the Tenants, Seller shall cause all utility suppliers furnishing electrical, gas and water utility services to the Property to read all utility meters on the date of Closing and to bill Seller separately for all such
charges. Buyer shall make its own arrangements regarding future utility billings and deposits. If any supplier refuses to read and bill any such utilities, such charges shall be prorated at Closing based upon the bill for the next most similar
billing period. 
 7.7 Escrow Agent shall credit the Deposit, together with all interest earnings thereon, to Buyer at
Closing. 
 7.8 At Closing, Seller shall provide Buyer with a credit against the Purchase Price for those unpaid
commissions set forth on Exhibit “H” and Buyer shall assume the obligations of Seller under the Contracts giving rise to such commissions. 
 7.9 At Closing, Seller shall deliver full possession of the Property free and clear of all occupants other than the Tenants in possession under the Leases (including any New Agreements entered in
accordance with this Agreement) and subject to the Permitted Exceptions, such Property to be in substantially the same condition as on the Effective Date with the following exceptions: (a) ordinary wear and tear, (b) any damages caused by
the acts or omissions of Buyer, its agents or contractors, and (c) subject to the provisions of Section 10, damages by casualty or affected by any taking. 
 7.10 Not less than one (1) business day prior to Closing, Buyer and Seller shall agree on a Settlement Statement prepared by the Escrow Agent for the transactions contemplated by this
Agreement in anticipation of Closing. 
 8. PRORATIONS. The following adjustments shall be made with respect to the Property, and
the following procedures shall be followed: 
 8.1 At least five (5) days before the Closing Date, Seller shall
prepare and deliver, or cause Escrow Agent to prepare and deliver, to Buyer a statement for the Property (the “Preliminary Proration Statement”) showing prorations for the items set forth below, calculated as of 11:59 p.m. on the day
preceding the Closing Date, on the basis of a 365-day 

  
 17 

 year. Buyer and Seller shall agree upon any adjustments to be made to the Preliminary
Proration Statement before the Closing, and at the Closing, Buyer or Seller, as applicable, shall receive a credit equal to the net amount due Buyer or Seller, as applicable, pursuant to the Preliminary Proration Statement as finally agreed upon by
Buyer and Seller. The items to be covered by the Preliminary Proration Statement are as follows: 
 a. rents, including
percentage rents (if any), payable under the Leases (but only to the extent collected before the Closing Date); 
 b.
escalation charges for real estate taxes, parking charges, marketing fund charges, operating expense prepayments and reimbursements from Tenants, maintenance escalation rents or charges, costs-of-living increases or other charges of a similar
nature, if any, and any additional charges, and expenses (collectively, “Additional Rents”) payable under the Leases (but only to the extent collected before the Closing Date); provided that if any of the foregoing are not finally adjusted
between Seller and a Tenant, as applicable until after the preparation of the Preliminary Proration Statement then proration of such items shall be subject to adjustment pursuant to Paragraph 8.4; 

c. non-delinquent real property taxes and assessments (other than with respect to those Tenants which reimburse for real property
taxes on an annual basis which shall be adjusted pursuant to Paragraph 8.4); provided that if the real property tax assessment for the fiscal year in which the Closing occurs has not been issued as of the Closing Date, real property taxes
shall be prorated based on the most recent assessed value of the Property, multiplied by the current tax rate, and such tax proration shall be subject to adjustment pursuant to Paragraph 8.3; 

d. water, sewer and utility charges not payable by a Tenant; 

e. amounts payable under any Contracts, but only to the extent Buyer has elected to assume in accordance with Paragraph 3.4;

 f. permits, licenses and/or inspection fees (calculated on the basis of the period covered), but only to the extent
transferred to Buyer; 
 g. leasing commissions, landlord’s work and tenant improvement allowances incurred in
connection with New Agreements made in accordance with Paragraph 5.2(b) (which shall be apportioned on a straight line basis over the portion of the initial lease term occurring during each party’s respective period of ownership); and

 h. any other expenses normal to the operation and maintenance of the Property. 

8.2 Seller shall receive no credit for rental income delinquent at Closing and Buyer shall not be entitled to a credit against the
Purchase Price for any rent for the month of Closing that has not been received by Seller or its agent. Except as provided in 

  
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Paragraphs 8.7 and 8.8, all rental income received after the Closing shall be credited first to any rental income due to Buyer, second to rent due for the month of Closing, and
third to any delinquencies remaining owing to Seller. Except as provided in Paragraph 8.7, Buyer will forward to Seller any delinquent rentals as received, including Seller’s apportionment of rental income delinquent at Closing for the
month of Closing. Notwithstanding anything to the contrary herein or in the Assignment of Intangible Rights to be executed by the parties at Closing, Seller shall have all rights and remedies available to it to collect any such delinquent amounts
before or after Closing; provided that, following the Closing, Seller shall not initiate any proceeding seeking to terminate the applicable Lease nor shall Seller be entitled to terminate the applicable Lease or otherwise evict or disturb the
occupancy of any of the Tenants. Except as provided in Paragraph 8.7, any payments received by Seller after the Closing shall be forwarded directly to Buyer for application in accordance with this Agreement. Upon request, Buyer shall provide
Seller with a written accounting of the application of rental payments in accordance with this Paragraph 8.2. 
 8.3
Notwithstanding anything to the contrary contained in Paragraph 8.1, (a) if the amount of the real property taxes and assessments payable with respect to the Property for any period before Closing is determined to be more than the
amount of such real property taxes and assessments that is prorated herein (in the case of the current year) or that was paid by Seller (in the case of any prior year), due to a reassessment of the value of the Property or otherwise, Seller and
Buyer shall promptly adjust the proration of such real property taxes and assessments after the determination of such amounts, and Seller shall pay to Buyer any increase in the amount of such real property taxes and assessments applicable to any
period before Closing; provided, however, that Seller shall not be required to pay to Buyer any portion of such increase that is payable by Tenants, except to the extent paid by such Tenants to Seller; and (b) if the amount of the real property
taxes and assessments payable with respect to the Property for any period before Closing is determined to be less than the amount of such real property taxes and assessments that is prorated herein (in the case of the current year) or that was paid
by Seller (in the case of any prior year), due to an appeal of the taxes by Seller, a reassessment of the value of the Property or otherwise, Seller and Buyer shall promptly adjust the proration of such real property taxes and assessments after the
determination of such amounts, and (i) Buyer shall pay to Seller any refund received by Buyer representing such a decrease in the amount of such real property taxes and assessments applicable to any period before Closing; provided, however, the
Buyer shall not be required to pay to Seller any portion of such refund which is payable to the Tenants; and (ii) Seller shall be entitled to retain any refund received by Seller representing such a decrease in the amount of such real property
taxes and assessments applicable to any period before Closing; provided, however, that Seller shall pay to Buyer that portion of any such refund that is payable to the Tenants. Each party shall give notice to the other party of any adjustment of the
amount of the real property taxes and assessments payable with respect to the Property for any period before Closing within thirty (30) days after receiving notice of any such adjustment. 

8.4 Except as provided in Paragraph 8.8, if any Tenants are required to pay Additional Rents, then, with respect to those
Additional Rents which are not finally 

  
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adjusted until after the preparation of the Preliminary Proration Statement pursuant to Paragraph 8.1, Buyer shall submit to Seller, no later than March 31, 2013, an unaudited
statement for the Property (a “Supplemental Proration Statement”) covering any such Additional Rents or any other items which have been finally adjusted between Buyer and the applicable party for the 2012 calendar year (or if the
applicable fiscal year is other than a calendar year, within ninety (90) days after the end of the applicable fiscal year), containing a calculation of the prorations of such Additional Rents and such other items, prepared based on the
principles set forth in Paragraph 8.1. In order to enable Buyer to make any year-end reconciliations of Additional Rents, within ninety (90) days after the Closing, Seller shall deliver to Buyer a final statement of (a) all
operating expenses for the Property which are actually paid by Seller and permitted to be passed through to the Tenants, as applicable, with respect to the portion of the 2012 calendar year occurring prior to the Closing (“Seller’s 2012
Actual Operating Expenses”), together with copies of all documentation evidencing Seller’s 2012 Actual Operating Expenses, and (b) all estimated payments of Additional Rents received by Seller with respect to the portion of the 2012
calendar year occurring prior to the Closing. If Additional Rents for the 2011 calendar year have not been finally adjusted between Seller and any of the Tenants, as applicable, as of the Closing, Seller shall retain all rights and obligations with
respect to the adjustment thereof directly with the applicable party following the Closing, subject to the provisions of Paragraph 8.2. 
 8.5 Upon reasonable notice and during normal business hours, Seller and its representatives shall be afforded the opportunity to review all underlying financial records and work papers pertaining
to the preparation of all Supplemental Proration Statements, and Buyer, at no cost to Buyer, shall permit Seller and its representatives to have full access to the books and records in the possession of Buyer or any party to whom Buyer has given
custody of the same relating to the Property to permit Seller to review the Supplemental Proration Statements. Any Supplemental Proration Statement prepared by Buyer shall be final and binding for purposes of this Agreement unless Seller shall give
written notice to Buyer of disagreement with the prorations contained therein within thirty (30) days following Seller’s receipt of such Supplemental Proration Statement, specifying in reasonable detail the nature and extent of such
disagreement. If Buyer and Seller are unable to resolve any disagreement with respect to any Supplemental Proration Statement within ten (10) days following receipt by Buyer of the notice referred to above, either party may pursue any remedy
available for the resolution of such dispute. 
 8.6 Any net credit due Seller or Buyer, as the case may be, shall be paid
to Seller or Buyer, as the case may be, within thirty (30) days after the delivery of a Supplemental Proration Statement to Seller, or unless Seller notifies Buyer of a disagreement with respect to any such statement as provided in Paragraph
8.5, in which case such payment (less a hold back sufficient to cover the amount of the disagreement) shall be made within fifteen (15) days after Seller notifies Buyer of such disagreement, and any further payment due after such
disagreement is resolved shall be paid within fifteen (15) days after the resolution of such disagreement, but in no event later than sixty (60) days after the delivery of a Supplemental Proration Statement to Seller. 

  
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 8.7 The parties acknowledge that the Governmental Tenants typically make their rental
payments in arrears under their respective Leases. To the extent such payments are in fact made in arrears, the rentals (including Additional Rents) received from any Governmental Tenants after the Closing Date shall be applied to (a) first, in
payment of rentals for the calendar month immediately preceding the month in which the Closing Date occurs; (b) second, in payment of rentals for the calendar month in which the Closing Date occurs, (c) third, in payment of rentals due and
payable for all periods after the Closing Date; and (d) fourth, after rentals due and payable for all periods after the Closing Date have been paid in full, in payment of rentals for periods prior to the Closing (other than as provided in the
above clause (a)). Each such amount, less reasonable collection costs, shall be adjusted and prorated as provided above, and the party receiving such amount shall, within five (5) business days, pay to the other party the portion thereof to
which it is so entitled. 
 8.8 The parties acknowledge that certain of the Tenants make payment of their share of real
estate taxes on an annual basis and that such payment may not be made until after the Closing Date. To extent that any such payment is received by Buyer after the Closing Date, Buyer shall, within fifteen (15) business days after the receipt of
such payment, pay to Seller the portion of such payment allocable to the period prior to the Closing Date. 
 8.9 The
provisions of this Section 8 shall survive Closing for a period of ninety (90) days after Buyer delivers to Seller the Supplemental Proration Statement. 
 9. BROKERS; COMMISSIONS. 
 9.1 Except for Seller’s
broker, Holliday Fenoglio Fowler, L.P. (the “Broker”), Buyer and Seller represent and warrant to each other that they have not dealt with any person or party that could be entitled to or make claim for a commission, finder’s fee or
other compensation for this transaction. Seller hereby acknowledges and agrees that Seller shall be solely responsible for payment of all commissions, finder’s fees, or other compensation to the extent due and payable to Broker pursuant to the
terms of a separate agreement entered into by Seller and Broker outside of this Agreement. Seller and Buyer each agree to indemnify, defend and hold harmless the other from and against all liabilities, damages, attorneys’ fees, court costs and
expenses from causes of action, suits, claims, demands and judgments of any nature whatsoever arising out of or in any way connected with its dealings with any real estate brokers or others pertaining to this transaction, other than the Broker.

 9.2 The representations made by and the indemnity obligations of Seller and Buyer in Paragraph 9.1 of this
Agreement shall survive the Closing for a period of twelve (12) months. 
 10. RISK OF LOSS. 

10.1 Except as provided in this Agreement, the risk of loss prior to the Closing is with Seller. Seller shall, during the term of
this Agreement, maintain the fire and hazard insurance presently carried by Seller for no less than full replacement value of the 

  
 21 

 
improvements on the Property (except to the extent the Tenants are required to maintain the same). At Closing, Seller shall deliver the Property to Buyer in substantially the same condition as
exists as of the Effective Date, reasonable wear and tear excepted. 
 10.2 If, prior to Closing, the Property or any
portion thereof is destroyed or damaged by fire, storm or any other casualty, and such damage or destruction is less than or equal to TWO HUNDRED FIFTY THOUSAND DOLLARS ($250,000) and none of the tenants of the Property shall have the right to
terminate their Leases as a result thereof, then Seller shall as expeditiously as possible restore the damaged or destroyed portion of the Property and the Closing contemplated herein shall be postponed to a date not to exceed ten (10) business
days beyond the date of such completed restoration; provided however that, if (a) the insurance carrier affirms its liability regarding such damage or destruction; and (b) the available insurance proceeds are sufficient, when added to the
deductible, to pay the full cost of repairing and restoring such damaged and destroyed portions of the Property, then the parties shall promptly proceed to Closing in accordance with the terms of this Agreement and, at Closing, Seller will assign
all of its right, title and interest to any and all insurance proceeds (including any rent loss insurance allocable to the period from and after Closing) to Buyer, and Seller shall tender to Buyer at Closing the insurance deductible. 

10.3 If all or part of the Property is destroyed or damaged by fire, storm or other casualty prior to the Closing, and such damage
or destruction exceeds TWO HUNDRED THOUSAND FIFTY DOLLARS ($250,000) and/or one or more of the tenants of the Property shall have the right to terminate their Leases as a result thereof, then, at Buyer’s option within ten (10) days after
Buyer’s receipt of the notice of the fire or other casualty, Buyer may terminate this Agreement, in which event Seller shall cause the Escrow Agent to promptly return the Deposit (less the Independent Consideration) to Buyer and neither party
shall have any further liability to the other (except for such liabilities and obligations that are expressly stated herein to survive termination of this Agreement). If Buyer fails to notify Seller timely of its election to terminate this
Agreement, Buyer shall be deemed to have elected to proceed to Closing. If Buyer elects not to terminate this Agreement, this Agreement shall remain in full force and effect and Seller, at the time of Closing, shall transfer and assign to Buyer all
of its right, title and interest to any and all insurance proceeds (including any rent loss insurance allocable to the period from and after Closing) to Buyer, and Seller shall tender to Buyer at Closing the insurance deductible. 

10.4 If, at any time on or before the Closing, any action or proceeding is filed or threatened or notice given under which all of
the Property or any material portion thereof may be taken pursuant to any law, ordinance or regulation or by condemnation or the right of eminent domain, then at the option of Buyer in its sole discretion (a) this Agreement shall be null and
void and the Deposit (less the Independent Consideration) shall be promptly returned to Buyer by the Escrow Agent, or (b) this Agreement shall remain in full force and effect and Seller, at the time of Closing hereunder, shall transfer and
assign all of Seller’s rights, title and interests in and to any proceeds received or which may be received by reason of such taking, or a sale in lieu thereof, which option shall be exercisable by Buyer by delivering to Seller written notice
on or before the tenth 

  
 22 

 
(10th)
 business day following the date on which Buyer receives notice that such suit has been filed or is threatened. If such ten (10) business day period extends beyond the date of Closing, as herein provided, Buyer shall have the right to extend
the date of Closing, to allow Buyer the full ten (10) business days in which to exercise its options hereunder. For purposes of this Paragraph 10.4, a “material portion” shall mean a taking (i) which materially and
adversely affects access to the Property, (ii) which reduces the number of parking spaces at the Property or condemns any portion of the parking areas of the Property, (iii) which results in any one or more of the tenants of the Property
having the right to terminate their Leases as a result thereof, or (iv) of more than ten percent (10%) of the leasable area of the improvements at the Property. 
 11. MISCELLANEOUS. 
 11.1 Exchange. Either party hereto
(hereafter in this Paragraph 11.1 referred to as “Exchange Party”) may assign the Exchange Party’s rights and obligations hereunder to a third party in connection with a like-kind exchange (“Exchange”) under
Section 1031 of the Internal Revenue Code of 1986, as amended (“Code”), provided that (i) the Closing shall not be delayed or affected by reason of any Exchange nor shall the consummation or accomplishment of any Exchange be a
condition precedent or condition subsequent to the Exchange Party’s obligations under this Agreement; (ii) the Exchange Party shall effect the Exchange with the third-party, and the other party hereto (“Other Party”) shall not be
required to take an assignment of the purchase agreement for the exchange property or be required to acquire or hold title to any real property (other than the Property) for purposes of consummating the Exchange; and (iii) the Exchange Party
shall pay any additional costs (including reasonable attorneys’ fees) that would not otherwise have been incurred by the Exchange Party or the Other Party had the Exchange Party not contemplated or consummated the Exchange. The Other Party
shall not by this agreement or acquiescence to the Exchange (a) have the Other Party’s rights under this Agreement adversely affected or diminished in any manner or (b) be responsible for compliance with or be deemed to have warranted
to the Exchange Party that the Exchange in fact complies with Section 1031 of the Code. 
 11.2 Beneficiaries.
This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, executors, legal representatives, successors and permitted assigns. 

11.3 Applicable Laws. This Agreement shall be governed by the laws of the state in which the Property is located.

 11.4 Successors and Assigns. Buyer may sell or assign this Agreement to an Affiliate of Buyer, as hereinafter
identified, without the consent of Seller, provided Buyer remains primarily liable for Buyer’s obligations hereunder. For purposes of this Paragraph 11.4, an “Affiliate of Buyer” shall mean an entity controlled by or under
common control with Buyer or the principals of Buyer or an entity in which Buyer or the principals of Buyer have not less than fifty percent (50%) of the voting rights. 

  
 23 

 11.5 Exclusive Agreement. This Agreement is an exclusive arrangement between
the parties and, after execution, neither Seller nor its agents, affiliates or employees shall negotiate or otherwise deal in the sale of the Property with anyone other than Buyer until this Agreement is terminated in accordance with its terms.

 11.6 Counterparts. This Agreement may be executed in counterparts each of which shall constitute an original and
all of which together shall have the same full and binding effect as a single executed copy. Facsimile or email PDF signatures may be accepted in lieu of originals. 
 11.7 Notices. All notices, requests, demands and other communications under this Agreement shall be in writing and must be delivered either by: (i) personal service,
(ii) commercial overnight courier service where receipt by addressee can be confirmed by said courier service in writing (e.g. Federal Express), or (iii) confirmed telecopy transmission, and in each case, properly addressed as follows:

  

			
	If to Buyer:	  	 The Phillips Edison Group LLC

11501 Northlake Drive
 Cincinnati, OH
45249
 Attn: David Wik
 Telephone:
(513) 554-1110
 Facsimile: (513) 554-1009

		
	With a copy to:	  	 Honigman Miller Schwartz & Cohn LLP
 39400 Woodward Avenue
 Suite 101
 Bloomfield Hills, MI 48304-5151
 Attn: J. Adam Rothstein, Esq.

Facsimile: (248) 566-8479
 Email:
jrothstein@honigman.com

		
	If to Seller:	  	 Richmond Plaza Investors, L.P.

770 Township Line Road, Suite 150
 Yardley, PA
19067
 Attn: Elizabeth A. Owens and Christopher J. Locatell
 Telephone: (215) 575-2431/-2349
 Facsimile: (215) 496-0152

		
	With a copy to:	  	 Duane Morris LLP
 30 South
17th Street

Philadelphia, PA 19103-4196
 Attn: David R.
Augustin
 Telephone: (215) 979-1313

Facsimile: (215) 979-1020

  
 24 

			
	 With a copy to
 Escrow
Agent:
	  	 Land Services USA, Inc.
 1835
Market Street
 Suite 420
 Philadelphia,
PA 19103
 Attention: M. Gordon Daniels

Telephone: (215) 563-5468
 Facsimile: (213)
568-8219
 Email: gdaniels@lsutitle.com

 Notices shall be deemed received by the addressee upon the earliest to occur of (i) actual receipt or
refusal thereof; (ii) one (1) business day after sending by commercial overnight next day courier service; (iii) the receipt signature day if sent by certified mail, postage prepaid, return receipt requested, or (iv) the same day
if sent by confirmed telecopy, all in accordance with the terms of this paragraph. Either party may change its address for notice purposes by giving written notice of such new address to the other party. 

11.8 Validity; Waiver. The invalidity of any provision of this Agreement shall not affect the validity of the remainder of
this Agreement. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provision, whether or not similar, nor shall any waiver constitute a continuing waiver or be binding unless executed in
writing by the waiving party. 
 11.9 Construction. The parties acknowledge that each party and its counsel have
reviewed and revised this Agreement and that 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 this Agreement, any amendment or
modification hereof or any of the Closing documents. 
 11.10 Attorneys’ Fees. In the event of a dispute
between the parties hereto relating to this Agreement, the prevailing party shall be entitled to recover reasonable attorneys’ fees, costs and expenses incurred in connection therewith. 

11.11 Incorporation of Exhibits. All exhibits attached and referred to herein are by such reference incorporated herein and
made part hereof. The Exhibits attached hereto which state “Insert to Follow” or “To Be Attached” shall be completed and approved by the parties hereto prior to expiration of the Review Period and, as completed and approved,
shall thereupon become a part of this Agreement. 
 11.12 Entire Agreement. All prior understandings and agreements
between the parties respecting this transaction are merged in this Agreement and the exhibits attached hereto, which fully and completely express the agreement of the parties. No change, addition to or modification of this Agreement or any part
hereof shall be valid unless in writing and signed by or on behalf of all of the parties. 
 11.13 Default by Seller.
In the event Seller fails to close this transaction in accordance with the terms hereof within the time set forth above, Buyer at Buyer’s option shall be entitled to take one of the following, and only one of the following, mutually
exclusive 

  
 25 

 
actions, as Buyer’s exclusive remedy: (a) terminate this Agreement, whereupon the Escrow Agent shall return the Deposit (less the Independent Consideration) to Buyer and this Agreement
shall terminate and become null and void and of no effect and the parties shall be released from all further obligations hereunder except for such liabilities and obligations that are expressly stated herein to survive termination of this Agreement
and; (b) waive any such failure and proceed with the Closing or (c) Buyer may seek the specific performance of Seller’s obligations under this Agreement from a court of competent jurisdiction by a date which is no later than ninety
(90) days after the scheduled Closing Date. To the extent any such default involves a default of any of Seller’s covenants set forth in Paragraph 5.2(a) or (b) hereof and/or a default of such a nature that Buyer shall be
precluded from obtaining specific performance (e.g., Seller conveys the Property to a bona fide third party who takes without knowledge of this Agreement), then, in the event of termination of this Agreement by Buyer, in addition to the return of
the Deposit to Buyer, Seller shall, within two (2) business days thereafter, pay to Buyer, as liquidated damages and not as a penalty, the sum of (i) an amount equal to all third party out of pocket costs and expenses incurred by Buyer in
connection with the transaction contemplated hereby, and (ii) an amount equal to the amount of the Deposit, the same being deemed Buyer’s damages on account thereof, the exact amount of damages to be suffered by Buyer on account of any
such default being difficult if not impossible to ascertain and Buyer and Seller agreeing that such amount is a reasonable approximation of the damages to be suffered by Buyer on account thereof. Notwithstanding the foregoing, with respect to a
default under Paragraph 5.2(a), Buyer shall only be entitled to the liquidated damages set forth in the immediately prior sentence if such default first occurs after the expiration of the Review Period. Buyer waives all other rights and
remedies it may have at law or in equity against Seller arising out of a default by Seller. 
 11.14 Default by
Buyer. The Deposit is to secure the timely performance by Buyer of its obligations and undertakings under this Agreement. In the event of a default of Buyer whereby Buyer fails to close this transaction in accordance with the terms of this
Agreement, the Escrow Agent shall immediately deliver the Deposit to Seller (and Buyer and Seller hereby irrevocably instruct the Escrow Agent to make such delivery to Seller), and Seller shall retain the Deposit as liquidated damages and as
Seller’s sole and exclusive right to damages or any other remedy for such default, as further provided in Paragraph 1.2 hereof. 
 11.15 AS IS Condition. Except for the express representations and warranties contained herein, the Property is being sold in an “AS IS” and “WHERE IS” condition,
“WITH ALL FAULTS”, without warranty, express or implied, as to the condition, thereof or otherwise. Buyer will have conducted prior to the expiration of the Review Period, and in all events prior to the Closing, Buyer’s own
investigation of the Property and the physical conditions thereof. Buyer will have reviewed prior to the expiration of the Review Period, and in all events prior to the Closing, all items which in Buyer’s judgment may affect or influence
Buyer’s use of the Property, including examining and inspecting all matters with respect to taxes, permissible uses, zoning, covenants, conditions, restrictions and all other matters which in Buyer’s judgment bear upon the value and
suitability of the Property for Buyer’s purposes. Buyer acknowledges that 

  
 26 

 
Seller would not sell the Property except on the basis described herein. Except as specifically provided in this Agreement, (i) Buyer acknowledges and agrees that Seller has made no
representations or warranties of any kind, either express or implied, and will at Closing make no representations of any kind, in connection with the maintenance, repair, condition, design, marketability, soils condition, environmental condition,
value or the like of the Property or otherwise, (ii) Buyer shall rely solely on Buyer’s own inspection and examination of such items and not on any representations of Seller, and (iii) Seller shall have no responsibility, liability or
obligation subsequent to the Closing with respect to any conditions, including without limitation environmental conditions, hazardous materials of any kind whatsoever, physical condition, structural condition, the presence of any environmental
problems or the use, presence, storage, release, discharge, or migration of Hazardous Materials on, in, under or around the Property, regardless of when such Hazardous Materials were first introduced in, on or about the Property. Except as otherwise
specifically provided in this Agreement, Buyer hereby releases Seller and its members, shareholders, officers, directors, partners, employees, agents, successors, and assigns from any liability associated with the condition of the Property or any
reports, surveys, studies, tests or other similar materials relating to the Property, or any matters disclosed therein, or any inaccuracies or omissions contained therein. The provisions of this Paragraph 11.15 shall survive Closing or the
earlier termination of this Agreement. 
 11.16 Limitation of Liability. None of Seller’s members,
beneficiaries, shareholders, partners, directors, officers, agents or employees, nor any of their heirs, executors, administrators, successors or assigns, shall have any personal liability of any kind or nature for or by reason of any matter or
thing whatsoever under, in connection with, arising out of or in any way related to this Agreement or the transactions contemplated herein, and Buyer waives for itself and anyone who may claim through or under Buyer any and all rights to sue or
recover from any of the foregoing individuals or parties on account of any such alleged personal liability. Likewise, none of Buyer’s members, beneficiaries, shareholders, partners, directors, officers, agents or employees, nor any of their
heirs, executors, administrators, successors or assigns, shall have any personal liability of any kind or nature for or by reason of any matter or thing whatsoever under, in connection with, arising out of or in any way related to this Agreement or
the transactions contemplated herein, and Seller waives for itself and anyone who may claim through or under Seller any and all rights to sue or recover from any of the foregoing individuals or parties on account of any such alleged personal
liability. The provisions of this Paragraph 11.16 shall survive Closing or the earlier termination of this Agreement. 

11.17 Further Assurances. After Closing, Seller and Buyer each agree to execute any and all documents and take such further
actions as may be reasonably necessary to effectuate the purposes of this Agreement at no cost or expense to such party. 

11.18 Time of the Essence. Time is of the essence in the performance of and compliance with each of the provisions and
conditions of this Agreement. 
 11.19 Waiver of Jury Trial. EACH PARTY HEREBY WAIVES TRIAL BY JURY IN ANY
PROCEEDING BROUGHT BY THE OTHER PARTY IN CONNECTION 

  
 27 

 
WITH ANY MATTER ARISING OUT OF OR IN ANY WAY CONNECTED WITH THE TRANSACTION, THIS AGREEMENT, THE PROPERTY OR THE RELATIONSHIP OF BUYER AND SELLER HEREUNDER. THE PROVISIONS OF THIS PARAGRAPH SHALL
SURVIVE CLOSING (AND NOT BE MERGED THEREIN) OR ANY EARLIER TERMINATION OF THIS AGREEMENT. 
 11.20 Survival. Except
as expressly provided in this Agreement, the representations, warranties, covenants and agreement of the parties set for in this Agreement shall not survive Closing or the earlier termination thereof in accordance with its terms. 

11.21 Computation of Time. Any time period provided for in this Agreement which ends on a Saturday, Sunday or legal holiday
shall extend to 5:00 p.m. (EST) on the next full business day. As used in this Agreement, the term “business day” means a day, other than a Saturday or Sunday, on which banking institutions in Augusta, Georgia are required to be open.

 11.22 No Assumption of Liabilities. The parties acknowledge that the purchase and sale of the Property involves
only the purchase and sale of the Property and that Seller is not selling a business nor do the parties intend that Buyer be deemed a successor of Seller with respect to any liabilities of Seller to any third parties other than the Tenants under the
Leases and the counterparties to the Contracts which Buyer elects to assume under Paragraph 3.4 or is obligated to assume under Paragraph 7.8. Accordingly, Buyer shall neither assume nor be liable for the debts, liabilities, taxes,
obligations and claims for which Seller alone is liable, including, but not limited to, (i) all payments and benefits to past and/or present employees of Seller in connection with the business being conducted on or from the Property as may have
accrued through Closing, (including, but not limited to, salaries, wages, commissions, bonuses, vacation pay, health and welfare contributions, pensions, profit sharing, severance or termination pay, or any other form of compensation or fringe
benefit), (ii) obligations of Seller under any Leases or occupancy agreements accruing prior to Closing, unless specifically assumed by Buyer, and (iii) obligations of Seller under the Contracts accruing from and after Closing, unless
Buyer has specifically assumed the Contract in accordance with Paragraph 3.4 or is obligated to assume as provided in Paragraph 7.8. Seller hereby agrees to indemnify, defend and hold harmless Buyer against any loss, cost, liability,
damage or expense with respect thereto. The obligations herein shall survive the Closing. 
 11.23 Jo-Ann’s.
Promptly following Closing, Buyer shall contact FCA of Ohio, Inc. (“Jo-Ann’s”) concerning the negotiation of an amendment to the Jo-Ann’s Lease (as defined below) which would terminate the right of Jo-Ann’s under
Section 4(d) of the Jo-Ann’s Lease to cancel the Jo-Ann’s Lease (the “Post-Closing Jo-Ann’s Amendment”). Upon Buyer’s receipt of a written notice from Jo-Ann’s of Jo-Ann’s intent to terminate the
Jo-Ann’s Lease pursuant to Section 4(d) of the Jo-Ann’s Lease, Buyer shall use commercially reasonable efforts to enter the Post-Closing Jo-Ann’s Amendment. Buyer shall promptly notify Seller and Escrow Agent upon the execution,
if at all, of the Post-Closing Jo-Ann’s Amendment. In the event of a default by Buyer under this Paragraph 11.23, Seller’s sole and exclusive remedy shall be recovery of the Escrow Funds (as defined in the Jo-Ann’s Escrow
Agreement). The foregoing limitation, however, shall 

  
 28 

 
not act to limit the right of the prevailing party in a dispute to collect pursuant to Paragraph 11.10 of this Agreement. The term “Jo-Ann’s Lease” shall mean certain Lease
Agreement dated December 5, 2007 with Jo-Ann’s for space at the Property. The provisions of this Paragraph 11.23 shall survive the Closing. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 
 [SIGNATURE PAGE FOLLOWS] 

  
 29 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the last date set forth
below. 
  

											
	BUYER:	 		 	SELLER:
			
	 THE PHILLIPS EDISON GROUP LLC,
 an Ohio limited liability company
	 		 	 RICHMOND PLAZA INVESTORS, L.P.,
 a Georgia limited partnership

					
		 		 		 	By:	 	Bergen of Richmond Plaza, Inc., its general partner
						
	By:	 	 /s/ Robert F. Myers
	 		 		 	By:	 	 /s/ Elizabeth A. Owens

	Name:	 	Robert F. Myers	 		 		 	Name:	 	Elizabeth A. Owens
	Its:	 	President	 		 		 	Its:	 	Senior Vice President
			
	Date of Execution: June 28, 2012	 		 	Date of Execution: June 28, 2012

 ESCROW AGENT: 
 The Escrow Agent is executing this Agreement to evidence its agreement to hold the Deposit and act as escrow agent in accordance with the terms and conditions of this Agreement. 

 

			
	LAND SERVICES USA, INC.
		
	By:	 	 /s/ Authorized Signatory

	Name:	 	 Authorized Signatory

	Title:	 	 Authorized Signatory

  
 S-1

 LIST OF EXHIBITS 
 A – Legal Description 
 B – Intentionally Omitted 

C – Seller’s Deliveries 
 D
– List of Existing Notices of Violations 
 E – Schedule of Litigation 

F – Limited Warranty Deed 
 G
– Bill of Sale 
 H – Leasing Commissions 
 I – Assignment and Assumption of Intangible Rights and Obligations 
 J –
Certificate of Non-Foreign Status 
 K – Tenant Estoppel Certificate 
 L – Notice to Tenants 
 M – Bring Down Certificate 

N – Rent Roll 
 O –
Contracts 
 P – Lease Defaults 
 Q – Jo-Ann’s Escrow Agreement 

 EXHIBIT “A” 

LEGAL DESCRIPTION 
 [See Attached] 

  
 A-1

 EXHIBIT “B” 

Intentionally Omitted 

  
 B-A-1

 EXHIBIT “C” 

SELLER’S DELIVERIES 
 Description 
 Accounting 

Income Statements - YTD and 5 year historical (by Quarter) 
 General Ledger - Current Quarter and 3 year historical 
 Capital Budget - YTD and 3 year
historical 
 Real Estate Bills and Appeals - 3 year historical 
 CAM, Real Estate Tax and Insurance Reconciliations - 3 year historical 
 Schedule of Security
Deposits and Prepaid Rents 
 Trial Balance - Prior Year and Current Quarter 
 Tenant Ledgers for the period from 1/1/2009 to 5/2012 
 Operations 

Warranties (roof, HVAC, elevator, etc.) 

Contact List and Contracts 
 Copies of all
utility bills for prior 12 months 
 Tenant Information 
 Leases (including all amendments and commencement date agreements with tenants) 
 Tenant Contact
Sheet and Guarantor Contact Sheet (name, address, phone number) 
 Rent Roll - Prior Year and Current Year (by Quarter) 

Schedule of Pending Leases; Letters of Intent Under Negotiation; Leases Out for Signature 
 Available Tenant Sales Information - YTD and 5 year historical 
 Tenant Invoices - Most recent
calendar month 
 Broker Listing Agreement 
 Available Tenant Certificates of Insurance 
 Available Tenant Certificates of Occupancy

 Tenant Estoppel Certificates from purchase of Property 
 Construction 
 Available as Built Plans (on CD) 

  
 C-1

 Title 
 Owner’s Title Insurance Policy and recorded title documents 
 Other 

All Environmental Reports obtained by Seller 

ALTA As-Built Survey 

  
 C-2

 EXHIBIT “D” 

LIST OF EXISTING NOTICES OF VIOLATIONS 
 None 

  
 D-1

 EXHIBIT “E” 

SCHEDULE OF LITIGATION 
 None 

  
 E-1

 EXHIBIT “F” 

LIMITED WARRANTY DEED 
  

									
		 	Return to:	  	  
	  	
		 		  	  
	  	
		 		  	  
	  	
		 		  	Attn:	  	  
	  	

 COMMONWEALTH OF PENNSYLVANIA 
 COUNTY OF PHILADELPHIA 
 LIMITED WARRANTY DEED 

THIS INDENTURE, made this      day of
            , 2012, between RICHMOND PLAZA INVESTORS, L.P., a Georgia limited partnership, as party of the first part (hereinafter referred to as “Grantor”) and
                    , a                     , as
party of the second part (hereinafter referred to as “Grantee”), (the words “Grantor” and “Grantee” to include their respective heirs, successors, successors-in-title and assigns where the context requires or permits).

 WITNESSETH THAT: 
 GRANTOR, for and in consideration of the sum of Ten and No/100 Dollars ($10.00) in hand paid at and before the sealing and delivery of these presents, the receipt whereof is hereby acknowledged, has
granted, bargained, sold, aliened, conveyed and confirmed and by these presents does grant, bargain, sell, alien, convey and confirm unto said Grantee, all that tract or parcel of land lying and being in Richmond County, Georgia, and being more
particularly described on Exhibit A, attached hereto and by this reference made a part hereof, together with any and all plants, trees, timber, shrubbery, improvements and fixtures located thereon or attached thereto, and all rights, easements,
licenses and benefits appurtenant thereto (hereinafter called the “Property”). 
 TO HAVE AND TO HOLD the
Property with all and singular the rights, members and appurtenances thereof, to the same being, belonging, or in anywise appertaining, to the only proper use, benefit and behoof of the Grantee forever in FEE SIMPLE. 

AND THE SAID Grantor will warrant and forever defend the right and title to the Property unto Grantee against the claims of all
persons claiming by, through or under Grantor, but not otherwise, except for claims arising under any of the matters set forth on Exhibit B, attached hereto and by this reference made a part hereof. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 
 [SIGNATURE PAGE FOLLOWS] 

  
 F-1

 IN WITNESS WHEREOF, the Grantor has signed and sealed this Deed, the day and year
first above written. 
  

									
	Signed, sealed and delivered	 	
	in the presence of:	 		 	GRANTOR:
			
		 		 	RICHMOND PLAZA INVESTORS, L.P.,
		 		 	a Georgia limited partnership
	  
	 		 		 		 	
	Unofficial Witness	 		 	By:	 	Bergen of Richmond Plaza, Inc.,
		 		 		 	its general partner
	  
	 		 		 		 	
	Notary Public	 		 		 	By:	 	  

		 		 		 	Name:	 	
	My Commission Expires:	 		 		 	Title:	 	
					
	[NOTARIAL SEAL]	 		 		 		 	
		 		 		 	Attest:	 	  

		 		 		 	Name:	 	  

		 		 		 	Title:	 	  

				
		 		 		 	    [CORPORATE SEAL]

  
 F-S-1

 EXHIBIT “A” 

TO LIMITED WARRANTY DEED 
 Legal Description 
 [To be Attached] 

  
 F-A-1

 EXHIBIT “B” 

TO LIMITED WARRANTY DEED 
 Permitted Title Encumbrances 
 [To be Attached] 

  
 F-B-1

 EXHIBIT “G” 

BILL OF SALE 
 FOR GOOD AND VALUABLE CONSIDERATION, the receipt and sufficiency of which are acknowledged, the undersigned (“Seller”) bargains, sells, conveys, assigns, transfers and delivers to
                    , a                     .
(“Buyer”), all Seller’s right, title and interest in and to all furniture, tangible and intangible personal property, fixtures, equipment, plans and specifications and other contract documentation, machinery and all other items
located on or used in connection with the real property and improvements described in Exhibit “A” attached hereto (the “Real Property”), and all trade names, intellectual property and passwords and access codes
pertaining to any website related to the Richmond Plaza Shopping Center, contract rights relating to the Property, the name “Richmond Plaza”, Seller’s interest in and the control of the Seller over escrow accounts, deposits,
instruments, general intangible and business records, including without limitation the property described on Exhibit “B” attached hereto and by this reference made a part hereof (collectively, the “Personal
Property”). The Property shall not include any of the personal property owned by any of the tenants of the Real Property. 

TO HAVE AND TO HOLD all and singular the Personal Property unto Buyer, its successors and assigns, to their own proper use and benefit,
forever. 
 Seller represents and warrants to Buyer that Seller possesses full right, power and authority to sell, transfer and
assign the Personal Property to Buyer. 
 THE PERSONAL PROPERTY IS SOLD “AS IS” WITH ALL FAULTS AND WITHOUT ANY
REPRESENTATIONS OR WARRANTIES OF WHATSOEVER NATURE, EXPRESS, IMPLIED, OR STATUTORY, EXCEPT THE WARRANTIES SET FORTH HEREIN; IT BEING THE INTENTION OF SELLER AND BUYER TO EXPRESSLY NEGATE AND EXCLUDE ALL OTHER WARRANTIES WHATSOEVER, INCLUDING BUT NOT
LIMITED TO THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR ANY PARTICULAR PURPOSE, ANY IMPLIED OR EXPRESS WARRANTY OF CONFORMITY TO MODELS OR SAMPLES OF MATERIALS, ANY RIGHTS OF BUYER UNDER APPROPRIATE STATUTES TO CLAIM DIMINUTION OF
CONSIDERATION, ANY CLAIM BY BUYER FOR DAMAGES BECAUSE OF DEFECTS, WHETHER KNOWN OR UNKNOWN WITH RESPECT TO THE PERSONAL PROPERTY, WARRANTIES CREATED BY AFFIRMATION OF FACT OR PROMISE AND ANY OTHER WARRANTIES CONTAINED IN OR CREATED BY THE UNIFORM
COMMERCIAL CODE AS NOW OR HEREAFTER IN EFFECT IN THE STATE IN WHICH THE PERSONAL PROPERTY IS LOCATED, OR CONTAINED IN OR CREATED BY ANY OTHER LAW. 

  
 G-1

 IN WITNESS WHEREOF, this Bill of Sale has been executed as of
            , 2012. 
  

					
	SELLER:
	
	 RICHMOND PLAZA INVESTORS, L.P.,
 a Georgia limited partnership

		
	By:	 	Bergen of Richmond Plaza, Inc., its general partner
			
		 	By:	 	  

		 	Name:	 	
		 	Its:	 	

  
 G-2

 EXHIBIT “A” 

TO BILL OF SALE 
 Legal Description 
 [To be Attached] 

  
 G-A-1

 EXHIBIT “B” 

TO BILL OF SALE 
 Personal Property 
 [To be Attached] 

  
 G-B-1

 EXHIBIT “H” 

LEASING COMMISSIONS/ALLOWANCES 
 Leasing commission in the amount of $4,800.00 in connection with the Lease to A Town Wings 

Leasing commission in the amount of $74,222.61 in connection with the Lease to Mattress Firm 
 Tenant allowance with respect to Lease to A Town Wings in the amount of $24,000 
 Tenant allowance
with respect to Lease to Mattress Firm in the amount of $67,056 

  
 H-1

 EXHIBIT “I” 

ASSIGNMENT AND ASSUMPTION OF  
 LEASES, INTANGIBLE RIGHTS AND OBLIGATIONS 
 THIS ASSIGNMENT AND
ASSUMPTION is made and entered into as of             , 2012 (“Effective Date”) by and between RICHMOND PLAZA INVESTORS, L.P., a Georgia limited partnership
(“Assignor”), and                     , a(n)
                     (“Assignee”), with reference to the following: 

WHEREAS, in accordance with the terms of an Agreement For Sale and Purchase of Property (the “Purchase Agreement”) dated
            , 2012, Assignor conveyed to Assignee concurrently herewith the real property and improvements located thereon, more particularly described on Exhibit “A”
attached hereto (“Property”); and 
 WHEREAS, in connection with the conveyance of the Property, Assignor and Assignee
intend that all of Assignor’s right, title and interest in and under all contracts, guaranties, warranties, leases and other matters relating to the Property be assigned and transferred to Assignee, 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are acknowledged, the parties agree that:

 1. Assignment. Assignor hereby sells, assigns, conveys, transfers and sets over to Assignee any and all of Assignor’s right,
title and interest in and to the following intangible rights: 
 (a) Contracts. All those certain contracts and agreements listed on
Exhibit “B” attached hereto and previously delivered to Assignee, relating to the Property (the “Contracts”). 
 (b)
Warranties, Guaranties and Policies. To the extent transferable, all guaranties, warranties and agreements from any contractors, subcontractors, vendors or suppliers regarding their performance, quality of workmanship and quality of materials
supplied in the construction, manufacture, development, installation and operation of any and all fixtures, equipment, personal property and improvements located on or used in connection with the Property. 

(c) Governmental Approvals and Certificates. To the extent transferable, any zoning, use, occupancy and operating permits, and all other permits,
approvals and certificates obtained in connection with the Property. 
 (d) Leases. All leases with respect to the Property specified in
Exhibit “C” together with all security deposits presently held by Assignor (“Leases”). 
 2. Assumption.
Assignee hereby accepts the assignment of the Leases and other matters set forth above and agrees to assume and discharge, in accordance with the terms thereof, all of the obligations thereunder from and after the date hereof. 

  
 I-1

 3. Indemnity by Assignee. Assignee agrees to indemnify, defend and hold harmless Assignor from any
cost, liability, damage or expense (including reasonable attorneys’ fees and costs of suit) arising out of or relating to Assignee’s failure to perform any of the foregoing obligations from and accruing on or after the date hereof.

 4. Indemnity by Assignor. Assignor agrees to indemnify, defend and hold harmless Assignee from any cost, liability, damage or expense
(including reasonable attorneys’ fees and costs of suit) arising out of or relating to Assignor’s failure to perform any of the obligations of Assignor under the Leases or the Contracts, to the extent accruing prior to the date hereof.

 5. Counterparts. This Assignment and Assumption may be executed in any number of counterparts, each of which shall be deemed an
original, but all of which shall constitute one and the same instrument. 
 6. Intentionally omitted. 

7. Governing Law. This Assignment and Assumption shall be governed by and construed under and in accordance with the laws of the state in which
the Property is located. 
 8. Additional Documents. Each party shall, at the request of the other, execute, acknowledge and deliver
whatever additional instruments, and do such other acts, as may reasonably be required in order to accomplish and carry forward the intent and purposes of this Assignment and Assumption. 
 9. Successors and Assigns. This Assignment and Assumption shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and assigns. 

[SIGNATURE PAGE FOLLOWS] 

  
 I-2

 IN WITNESS WHEREOF this Assignment is executed by the parties on the date first above
written. 
  

											
	ASSIGNOR:	 	ASSIGNEE:	 	
			
	 RICHMOND PLAZA INVESTORS, L.P.,
 a Georgia limited partnership
	 		 	  

	 		 	a(n)	 	  
	 	
						
	By:	 	Bergen of Richmond Plaza, Inc., its general partner	 		 		 		 	
					
	By:	 	  
	 		 	By:	 	  

	Name:	 		 		 	Name:	 		 	
	Its:	 		 		 	Its:	 		 	

  
 I-3

 EXHIBIT “A” 

TO ASSIGNMENT AND ASSUMPTION 
 Legal Description 
 [To be Attached] 

  
 I-A-1

 EXHIBIT “B” 

TO ASSIGNMENT AND ASSUMPTION 
 Contracts and Agreements 
 [To be Attached] 

  
 I-B-1

 EXHIBIT “C” 

TO ASSIGNMENT AND ASSUMPTION 
 List of Leases 
 [To be Attached] 

  
 I-C-1

 EXHIBIT “J” 

CERTIFICATE OF NON-FOREIGN STATUS 
 Section 1445 of the Internal Revenue Code provides that a transferee of a U.S. real property interest must withhold tax if the transferor is a foreign person. To inform the transferee that
withholding of tax is not required upon the disposition of a U.S. real property interest by Richmond Plaza Investors, L.P. (“Seller”), the undersigned hereby certifies the following on behalf of the Seller: 

 

	1.	Seller is not a foreign corporation, foreign partnership, foreign trust, or foreign estate (as those terms are defined in the Internal Revenue Code and Income Tax
Regulations); 

  

	2.	Seller is not a disregarded entity as defined in §1.1445-2(b)(2)(iii) of the Income Tax Regulations; 

 

	3.	Seller’s U.S. employer identification number is
                    ; and 

  

	4.	Seller’s office address is 770 Township Line Road, Suite 150, Yardley, PA 19067. 

 Seller understands that this certification may be disclosed to the Internal Revenue Service by the transferee and that any false statement contained herein could be punished by fine, imprisonment, or
both. 
 Under penalties of perjury, I declare that I have examined this certification and to the best of my knowledge and belief it is true,
correct and complete. I further declare that I have authority to sign this document on behalf of Seller. 
 Date:
            , 2012 
  

					
	SELLER:
	
	 RICHMOND PLAZA INVESTORS, L.P.,
 a Georgia limited partnership

		
	By:	 	Bergen of Richmond Plaza, Inc., its general partner
			
		 	By:	 	  

		 	Name:	 	
		 	Its:	 	

  
 J-1

 EXHIBIT “K” 

TENANT ESTOPPEL CERTIFICATE 
 Date:                      

 

			
	To:	 	         Bank, National Association
		 	  

		 	  

 and 
 The
Phillips Edison Group LLC 
 11501 Northlake Drive 
 Cincinnati, Ohio 45249 
  

							
	Re:	 	BUYER:	 	  
	 	
		 	LANDLORD:	 	  
	 	
		 	TENANT:	 	  
	 	
		 	LEASE:	 	  
	 	
		 	PREMISES:	 	  
	 	

 In consideration of Buyer’s pending acquisition of the shopping center in which the Premises are
located, and the loan (“Loan”) with respect thereto to be extended by
                                        ,
National Association (“Lender”) to Buyer, and in consideration of the mutual promises between Landlord and Tenant in that certain Lease referred to herein, Tenant hereby certifies to and agrees with Buyer and Lender and their respective
successors, successors in interest and assigns as follows as of the date hereof: 
 1. The leased premises, consisting of
             square feet, including all improvements, appurtenances, common areas and parking, as constructed, satisfy the requirements of the Lease and have been accepted by Tenant, and
are open for the use of Tenant, its employees, customers, and invitees. 
 2. The above-referenced Lease represents the entire
agreement between Landlord and Tenant, and the Lease is in full force and effect, has not been assigned, modified, supplemented or amended in any way, except as follows:
                    . 
 3.
The most recent date of commencement of rentals due under the Lease (or extension of the Lease) was                     ; all rents have been paid
through             , 2012, at the rental rates described in the Lease (or as extended), the base rent currently being $         per month
($         per year); no rents have been prepaid more than one month in advance; and there are no rent concessions of any nature to which Tenant may at any time be entitled. 

  
 K-1

 4. The Lease (or current extension) is for a term of
                     years commencing on
                     and ending on
                    ; and in addition, Tenant has the following renewal options:
                    . 
 5.
To Tenant’s knowledge, all conditions of the Lease to be performed by Landlord, and necessary to the enforceability of the Lease, have been satisfied; to Tenant’s knowledge, there are no defaults under the Lease, nor any conditions which
would become a default at the expiration of a grace period or upon notice; and to Tenant’s knowledge, there are no existing defenses or offsets which Tenant has against Landlord. 

6. Tenant has on deposit with Landlord the sum of $         as a security deposit. 

7. The Lease shall not be cancelled, surrendered or merged in the ownership of the fee of the leased premises except as specifically
provided by the terms of the Lease. 
 8. The Lease contains no provisions granting to Tenant any options to purchase or rights
of first refusal regarding the leased premises or the real property which includes the leased premises. 
 9. Tenant
acknowledges that Buyer may disclose to Lender any information disclosed to Buyer pursuant to the Lease terms concerning gross sales, receipts, percentage rent, etc. 
 10. Tenant understands that this Certificate is being executed as one of the inducements to Buyer to acquire the Premises and to Lender to extend the Loan. This Certificate may be relied upon by Landlord,
Buyer, Lender and their respective successors, successors in interest and assigns. 
 IN WITNESS WHEREOF, Tenant has caused this
instrument to be executed this      day of             , 2012. 
  

			
	TENANT:
	
	  

		
	By:	 	  

	Name:	 	  

	Title:	 	  

  
 K-2

 EXHIBIT “L” 

NOTICE TO TENANTS 
 [DATE] 
  

	RE:	Notice of Change of Ownership of Richmond Plaza 

 3435 Wrightboro Road 
 Augusta, Georgia 

All Tenants of Richmond Plaza: 
 You are hereby
notified as follows: 
 That as of the date hereof, Richmond Plaza Investors, L.P. has transferred, sold, assigned, and conveyed
all of its interest in and to the above-described property (the “Property”) and your lease to                      (the “New
Owner”). 
 All future notices and rental payments, including payments for any and all statements on hand, should be made
to the New Owner in accordance with your lease terms at the following address: 
  

					
		 	  
	 	
		 	  
	 	

 Your security deposit, if any, has been transferred to the New Owner and as such the New Owner shall be
responsible for holding the same in accordance with the terms of your lease. 
  

					
	Sincerely,
	
	 RICHMOND PLAZA INVESTORS, L.P.,
 a Georgia limited partnership

		
	By:	 	Bergen of Richmond Plaza, Inc., its general partner
			
		 	By:	 	  

		 	Name:	 	
		 	Its:	 	

  
 L-1

 EXHIBIT “M” 

Bring Down Certificate 
 I,                             , hereby certify that I am the
duly elected, qualified and acting                              of Bergen of Richmond Plaza, Inc., the
general partner of Richmond Plaza Investors, L.P., a Georgia limited partnership (“Seller”), and that: 
 To the
knowledge of Seller, the representations and warranties of Seller contained in the Agreement for Sale and Purchase of Property dated             , 2012, and contained in all amendments
thereto, between Seller, as seller, and The Phillips Edison Group LLC, an Ohio limited liability company, as buyer, the buyer’s interest in which was assigned to
                            , continue to be true and correct in all material respects. 

IN WITNESS WHEREOF, the undersigned has executed this Bring Down Certificate as of
            , 2012. 
  

					
	RICHMOND PLAZA INVESTORS, L.P.,
	a Georgia limited partnership
		
	By:	 	Bergen of Richmond Plaza, Inc., its general partner
			
		 	By:	 	  

		 	Name	 	  

		 	Its:	 	  

  
 M-1

 EXHIBIT “N” 

Rent Roll 
 See
attached. 

  
 N-1

 EXHIBIT “O” 

Contracts 
 ADT – Fire
Suppression System 
 Sweep A Lot – Landscaping 
 Sweep A Lot – Sweeping 
 Sweep A Lot – Pressure Washing 

Gold Mechanical – HVAC Maintenance 

Retail Lease Commission Agreement with Colliers International – Atlanta Realty, LLC (Mattress Firm, Inc.) 

Exclusive Listing Agreement with The Shopping Center Group, LLC 

  
 O-1

 EXHIBIT “P” 

Lease Defaults 
 Fatimatou
Diallo is in payment default under her Lease. 

  
 P-1

 EXHIBIT “Q” 

Jo-Ann’s Escrow Agreement 
 THIS ESCROW AGREEMENT (this “Agreement”) is made as of             , 2012 by and between
                            , a Delaware limited liability company (“Purchaser”), RICHMOND PLAZA
INVESTORS, L.P., a Georgia limited partnership (“Seller”), and LAND SERVICES USA, INC. (“Escrow Agent”). 

R E C I T A L S: 
 A. Purchaser, as Purchaser, and Seller, as Seller, are parties to that certain Agreement for Sale and Purchase of Property dated June     , 2012, as amended from time to time (as
amended, “Purchase Agreement”), regarding the sale by Seller to Purchaser of the real property and shopping center improvements thereon, and the leases and appurtenant rights associated therewith, known as “Richmond Plaza”
located in Augusta, Georgia (“Property”) as more particularly described therein. 
 B. Simultaneously herewith, the
parties are closing on the sale of the Property. In connection with that closing, the parties agreed to create an escrow account with Escrow Agent from which Purchaser shall be entitled to draw on such escrow in the event that FCA of Ohio, Inc.
(“Jo-Ann’s”) terminates that certain Lease Agreement dated December 5 2007 (the “Lease”) with respect to a portion of the Property on or before July 30, 2013, as set forth below. 

NOW, THEREFORE, for good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties agree as
follows: 
 1. Definitions. Except as otherwise noted herein, the meaning of the defined terms in this Agreement
shall be governed by the definitions of those terms contained in the Purchase Agreement. 
 2. Establishment of
Escrow. Concurrently herewith, Seller has deposited in escrow with Escrow Agent the sum of $500,000.00 (the “Escrow Funds”). The Escrow Funds shall be held in escrow by Escrow Agent and disbursed solely in accordance with the terms
hereof. In the event that Jo-Ann’s timely notifies Purchaser of its intent to terminate the Lease (such notice a “Termination Notice”) on or before July 30, 2013 (the “Outside Termination Date”), then, upon
Jo-Ann’s vacating the Property and paying Purchaser the Termination Fee (as defined below), the Escrow Funds shall be disbursed by Escrow Agent to Purchaser upon request thereof by Purchaser. In the event that (a) Jo-Ann’s either
(i) fails to notify Purchaser of its intent to terminate the Lease on or before the Outside Termination Date, (ii) irrevocably waives its right to terminate the Lease pursuant to Section 4(d) of the Lease, or (iii) notifies
Purchaser of its intent to terminate the Lease on or before the Outside Termination Date but remains as a tenant of a portion of the Property one (1) year and fifteen (15) days after the giving of the Termination Notice, (b) Purchaser
enters into (i) the Post-Closing Jo-Ann’s Amendment pursuant to Paragraph 11.23 of the Purchase Agreement, (ii) a new lease with Jo-Ann’s or an 

  
 Q-1

 
affiliate of Jo-Ann’s to occupy a portion of the Property for a term that extends after July 31, 2014, or (iii) an amendment to the Jo-Ann’s Lease which extends the term
thereof beyond July 31, 2014, then, upon request to Escrow Agent from Seller, the Escrow Funds shall be disbursed by Escrow Agent to Seller. Purchaser shall notify Seller and Escrow Agent promptly of the occurrence of one of the events
described in clause (a) or (b). Notwithstanding anything to the contrary contained in the Purchase Agreement, Purchaser and Seller agree that all fees payable by Jo-Ann’s in connection with termination (including the unamortized
construction allowance and real estate broker commissions) are the property of Purchaser (collectively, the “Termination Fee”). 
 3. Escrow Funds. 
 (a) The Escrow Funds held under this Agreement shall be
increased by income earned on such Escrow Funds and decreased by the fees of the Escrow Agent. 
 (b) The Escrow Agent shall be
entitled to its out-of-pocket expenses if there is a disagreement between Purchaser and Seller. Each of Seller and Purchaser shall be responsible for payment of one half (1/2) of any of such expenses. 

(c) Purchaser and Seller shall each be responsible for paying one half (1/2) of any escrow fees charged by the Escrow Agent in
connection with this Agreement. 
 (d) The Escrow Funds held under this Agreement shall be invested in accordance with the terms
of Paragraph 5 hereof. 
 4. Notices. All notices, payments or other communications required or permitted
hereunder shall be in writing and shall be deemed to have been duly given if sent by registered or certified mail, postage prepaid and return receipt requested and received, or by overnight courier service, or by e-mail with confirmed receipt and a
“hard” copy forward approximately simultaneously via one of the other methods of delivery, addressed as follows: 
  

			
	If to Purchaser:	  	c/o Phillips Edison & Company
		  	11501 Northlake Drive
		  	Cincinnati, Ohio 45249
		  	Attention: Joel Staffilino and Jessica Morris
		  	jstaffilino@phillipsedison.com
		  	jmorris@phillipsedison.com
		
	With a copy to:	  	Honigman Miller Schwartz and Cohn LLP
		  	39400 Woodward Avenue, Suite 101
		  	Bloomfield Hills, Michigan 48304-5151
		  	Attention: J. Adam Rothstein, Esq.
		  	arothstein@honigman.com

  
 Q-2

			
	If to Seller:	  	Richmond Plaza Investors, L.P.
		  	770 Township Line Road, Suite 150
		  	Yardley, PA 19067
		  	Attention: Elizabeth A. Owens and Christopher J. Locatell
		  	eowens@bpgltd.com
		  	clocatell@bpgltd.com
		
	With a copy to:	  	Duane Morris LLP
		  	30 South 17th Street
		  	Philadelphia, PA 19103-4196
		  	Attention: David R. Augustin
		  	draugustin@duanemorris.com
		
	Escrow Agent:	  	Land Services USA, Inc.
		  	1835 Market Street
		  	Suite 420
		  	Philadelphia, PA 19103
		  	Attention: M. Gordon Daniels
		  	gdaniels@lsutitle.com

 5. Investment of Escrow Funds. The Escrow Agent shall invest all of the Escrow Funds under
this Agreement, including any interest received thereon as directed in writing by Purchaser. Such direction shall include the amount to be invested and the time period of such investment. Investments shall be restricted to certificates of deposit,
commercial paper, money market funds and similar items none of which will have a maturity of more than thirty (30) calendar days. Escrow Agent shall have no liability whatsoever with respect to any interest fluctuations of such investments.

 6. Waivers. No waiver of any of the provisions of this Agreement shall be binding upon any party hereto unless
in writing and signed by such party. No waiver of any provision of, or default under, this Agreement shall affect the right of any party thereafter to enforce said provision or to exercise any right or remedy in the event of any other default,
whether or not similar. 
 7. Modification. This Agreement may be supplemented, altered, amended, modified or
revoked by writing only, signed by all of the parties hereto. 
 8. Duties of Escrow Agent. 

(a) Escrow Agent undertakes to perform only such duties as are expressly set forth herein. 

(b) Escrow Agent may rely upon, and shall be protected in acting or refraining from acting upon, any written notice, instruction or
request furnished to it hereunder and believed by it to be genuine and to have been signed or presented by the proper party or parties; provided, however, that, as stated above, any modification of this Agreement must be signed by all of the parties
hereto. 

  
 Q-3

 (c) Escrow Agent shall not be liable for any action taken by it in good faith and believed
by it to be authorized or within the rights of powers conferred upon it by this Agreement. Escrow Agent may consult with counsel of its own choice, and shall have full and complete authorization and protection for any action taken or suffered by it
hereunder in good faith and in accordance with the opinion of such counsel. 
 (d) Escrow Agent may resign and be discharged
from its duties or obligations hereunder by giving thirty (30) days’ prior written notice to the parties hereto of the date upon which such resignation shall take effect. In such event, the parties hereto agree to appoint a successor
Escrow Agent, and the parties hereto agree that, upon demand of such successor Escrow Agent, all property in the Escrow Funds held under this Agreement shall be turned over and delivered to such successor Escrow Agent, which shall, thereupon, be
bound by all of the provisions of this Agreement. 
 9. Benefit. This Agreement shall be binding upon and inure to
the benefit of the parties hereto and their respective successors and assigns. 
 10. Indemnification. Escrow
Agent is severally indemnified and saved harmless by Purchaser and Seller from all losses, costs and expenses that Escrow Agent may incur as result of its involvement in any litigation arising from performance of its duties under this Agreement,
provided that such litigation shall not result from any action taken or omitted by Escrow Agent for which it shall have been adjudged negligent or to have acted in bad faith. This indemnification shall survive termination of this Agreement until
extinguished by any applicable statute of limitations. 
 [Signatures follow on next page.] 

  
 Q-4

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement. 

 

									
	SELLER:	 		 	 RICHMOND PLAZA INVESTORS, L.P.,
 a Georgia limited partnership

				
		 		 	By:	 	Bergen of Richmond Plaza, Inc., its general partner
					
		 		 		 	By:	 	  

		 		 		 	Name:
		 		 		 	Its:
			
		 		 	Date of Execution:             , 2012

 [Signatures continue of the following page.] 

  
 Q-5

									
	PURCHASER:	 		 	  
	 	,
		 		 	a Delaware limited liability company	 	
					
		 		 	By:	 	  
	 	
		 		 	Name:	 	  
	 	
		 		 	Title:	 	  
	 	

 [Signatures continue of the following page.] 

  
 Q-6

							
	ESCROW AGENT:	 		 	LAND SERVICES USA, INC.
				
		 		 	By:	 	  

		 		 	Name:	 	  

		 		 	Title:	 	  

  
 Q-7

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