Document:

Third Amendment to Sale, Purchase and Escrow Agreement (Property Pool B)

 Exhibit 10.45 
 THIRD AMENDMENT TO SALE, PURCHASE AND ESCROW AGREEMENT (PROPERTY POOL B) 
 This Third Amendment to Sale, Purchase and Escrow Agreement (Property Pool B) (this “Third Amendment”) is made and entered into as of November 29, 2010, by and among GRE Carlton
Plaza LP, a Delaware limited partnership (“Carlton Plaza Seller”), Tustin-Michelle Partners LLC, a Delaware limited liability company (“Toshiba Seller”), GRE Warner Desoto LLC, a Delaware limited liability company
(“Warner Desoto”), GRE Warner Califa LLC, a Delaware limited liability company (“Warner Califa”), GRE Warner Canoga LLC, a Delaware limited liability company (“Warner Canoga” and with Warner Desoto
and Warner Califa, collectively, “Warner Seller”), GRE Empire Towers Four LLC, a Delaware limited liability company (“Empire IV Seller”), GRE Foothill LLC, a Delaware limited liability company (“Foothill
Seller”), GRE Mira Mesa LLC, a Delaware limited liability company (“Alta Sorrento Seller” and with Carlton Plaza Seller, Toshiba Seller, Warner Seller, Empire IV Seller, and Foothill Seller, each individually a
“Seller” and, collectively, “Sellers”), and Pacific Office Properties, L.P., a Delaware limited partnership (“Purchaser”). 
 RECITALS: 
 A. Sellers and Pacific Office Management, Inc., a Delaware
corporation (“Original Purchaser”) entered into that certain Sale, Purchase and Escrow Agreement (Property Pool B) dated as of August 13, 2010 (the “Original Agreement”), as amended by (i) that certain
First Amendment to Sale, Purchase and Escrow Agreement (Property Pool B) dated as of August 30, 2010, by and among Sellers and Original Purchaser, and (ii) that certain Second Amendment to Sale, Purchase and Escrow Agreement (Property Pool
A) dated as of October 22, 2010 (the “Second Amendment”), by and among Sellers and Purchaser (the Original Agreement, as so amended, is referred to herein as the “Agreement”), respecting the purchase and sale
of “Property Pool B” (as more particularly described in the Agreement). All initial capitalized terms used herein but not herein defined shall have the meaning ascribed to such terms in the Agreement. Purchaser has received an
assignment of the interest of “Purchaser” under the Agreement pursuant to that certain Assumption and Assumption Agreement dated as of September 2, 2010, by and between Original Purchaser and Purchaser. 

B. Seller and Purchaser now desire to enter into this Third Amendment to provide for certain modifications to the Agreement, as more
particularly set forth herein. 
 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is
hereby acknowledged, Purchaser and Sellers agree as follows: 
 1. Within three (3) business days following the full
execution and delivery of this Third Amendment by Sellers and Purchaser, Purchaser shall deposit into the escrow with Escrow Agent by bank wire of immediately available funds the sum of Four Hundred Thirty Thousand Dollars ($430,000.00) (the
“Third Deposit”). The Third Deposit shall be included within the meaning of “Deposit” and shall be applied to the Purchase Price at Closing. 
 2. On the date that is three (3) business days following the full execution and delivery of this Third Amendment by Sellers and Purchaser, the Escrow Agent shall release from the Deposit then held in
escrow to Sellers by bank wire of immediately available funds the sum of One Million Seven Hundred Twenty Thousand Dollars ($1,720,000.00) (the “Released Funds”), which Released Funds shall be non-refundable to Purchaser unless the
Closing fails to occur for a reason other than a default by Purchaser, and shall be applied to the Purchase Price at Closing. 

3. If, and only if, the Closing occurs, then upon the Closing, in addition to payment of the Purchase Price, Purchaser shall reimburse to
Sellers a portion of the Closing costs otherwise payable by Sellers pursuant to the Agreement (as hereby amended) including, without limitation, fees due to the Adviser, equal to Six Hundred Forty-Five Thousand Dollars ($645,000.00), by bank wire of
immediately available funds. 
 4. Purchaser and Sellers each hereby waives the Loan Assumption Condition as a condition
precedent to the occurrence of the Closing. Notwithstanding such waiver, the parties shall continue to use efforts, as specified in the Agreement (as hereby amended) to obtain the consent of the applicable Lender to the assumption of the Loan for
each Property by Purchaser (other than Loans which Purchaser has heretofore elected to pay off pursuant to Section 5.4.4 of the Agreement) in accordance with Section 5.4 of the Agreement. However, if by the

  
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date which is three (3) business days prior to the Final Closing Date (as the Final Closing Date is extended and may be further extended pursuant to this Third Amendment), the consent of an
applicable Lender to the assumption by Purchaser of the Loan for a Property has not been obtained, then it shall be deemed that Purchaser has elected to pay off and/or defease such Loan at Closing pursuant to Section 5.4.4 of the Agreement.

 5. The Final Closing Date is hereby modified to be January 18, 2011, and shall not be subject to further extension
except as follows: 
 (a) Purchaser shall have the right to further extend the Final Closing Date to January 21, 2011, by
(i) written notice thereof delivered to Sellers and Escrow Agent by not later than January 14, 2011, and (ii) deposit into the escrow with Escrow Agent by no later than January 18, 2011, by bank wire of immediately available
funds, the sum of One Hundred Seven Thousand Five Hundred Dollars ($107,500.00) (the “Fourth Deposit”), which Fourth Deposit shall be included within the meaning of “Deposit” for purposes of the Agreement (as hereby
amended) and shall be applied to the Purchase Price at Closing, 
 (b) In the event that the pay off and/or defeasance of a Loan
at Closing by Purchaser pursuant to an election made (or deemed pursuant to Section 4 of this Third Amendment to have been made) pursuant to Section 5.4.4 of the Agreement requires the giving of a notice to the applicable Lender and/or the
expiration of a waiting period pursuant to the applicable Loan Documents such that the Closing must occur later than the Final Closing Date in order to comply with the requirements of such Loan Documents, then the date of the Closing for such
Property shall be extended to the earliest possible business day upon which Closing may occur with such Loan pay off and/or defeasance at Closing in compliance with the requirements of the applicable Loan Documents. 

6. The provisions of the Second Amendment as to Purchaser making a Second Purchaser Extension Payment shall not be of any further force
or effect. 
 7. Purchaser shall have no right to further extend the Closing pursuant to Section 6.3 of the Agreement.

 8. This Third Amendment may be executed in any number of counterparts, each of which shall be deemed to be an original, but
any number of which, taken together, shall be deemed to constitute one and the same instrument. 
 9. Except as specifically
amended by this Third Amendment, the Agreement shall continue in full force and effect. In the event of any conflict between the provisions of the Agreement and the provisions of this Third Amendment, the provisions of this Third Amendment shall
prevail. 
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 IN WITNESS WHEREOF, Sellers and Purchaser have entered into this Third Amendment as of the
date first written above. 
  

					
	PURCHASER:
	
	 PACIFIC OFFICE PROPERTIES, L.P.,
 a Delaware limited partnership

		
	By:	 	 PACIFIC OFFICE PROPERTIES TRUST,
 INC., a Maryland corporation,
 its General Partner

			
		 	By:	 	 /s/ Matthew J. Root

		 		 	 Matthew J. Root, CIO

		 		 	(Print Name and Title)
	
	SELLERS:
	
	GRE CARLTON PLAZA LP, a Delaware limited partnership
		
	By:	 	 GRE Carlton Plaza GP LLC,
 a Delaware limited liability company,
 Its General Partner

			
		 	By:	 	 /s/ Joseph P. Mahoney

		 	Name:	 	 Joseph P. Mahoney

		 	Its:	 	 Authorized Signatory

	
	TUSTIN-MICHELLE PARTNERS LLC, a Delaware limited partnership
		
	By:	 	 Guggenheim Plus Leveraged LLC,
 a Delaware limited liability company,
 Its Managing Member

			
		 	By:	 	 /s/ Joseph P. Mahoney

		 	Name:	 	 Joseph P. Mahoney

		 	Its:	 	 Authorized Signatory

	
	GRE WARNER DESOTO LLC, a Delaware limited liability company
		
	By:	 	 Guggenheim Plus Leveraged LLC,
 a Delaware limited liability company,
 Its Managing Member

			
		 	By:	 	 /s/ Joseph P. Mahoney

		 	Name:	 	 Joseph P. Mahoney

		 	Its:	 	 Authorized Signatory

[SIGNATURES CONTINUED ON FOLLOWING PAGE] 

  
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 [SIGNATURES CONTINUED FROM PRECEDING PAGE] 

 

					
	GRE WARNER CALIFA LLC, a Delaware limited liability company
		
	By:	 	 Guggenheim Plus Leveraged LLC,
 a Delaware limited liability company
 Its Managing Member

			
		 	By:	 	 /s/ Joseph P. Mahoney

		 	Name:	 	 Joseph P. Mahoney

		 	Its:	 	 Authorized Signatory

	
	GRE WARNER CANOGA LLC, a Delaware
limited liability company
		
	By:	 	 Guggenheim Plus Leveraged LLC,
 a Delaware limited liability company,
 Its Managing Member

			
		 	By:	 	 /s/ Joseph P. Mahoney

		 	Name:	 	 Joseph P. Mahoney

		 	Its:	 	 Authorized Signatory

	
	GRE EMPIRE TOWERS FOUR LLC, a Delaware limited liability company
		
	By:	 	 Guggenheim Plus Leveraged LLC,
 a Delaware limited liability company,
 Its Managing Member

			
		 	By:	 	 /s/ Joseph P. Mahoney

		 	Name:	 	 Joseph P. Mahoney

		 	Its:	 	 Authorized Signatory

	
	GRE FOOTHILL LLC, a Delaware limited liability company
		
	By:	 	 Guggenheim Plus Leveraged LLC,
 a Delaware limited liability company,
 Its Managing Member

			
		 	By:	 	 /s/ Joseph P. Mahoney

		 	Name:	 	 Joseph P. Mahoney

		 	Its:	 	 Authorized Signatory

	
	GRE MIRA MESA LLC, a Delaware limited liability company
		
	By:	 	 Guggenheim Plus Leveraged LLC,
 a Delaware limited liability company,
 Its Managing Member

			
		 	By:	 	 /s/ Joseph P. Mahoney

		 	Name:	 	 Joseph P. Mahoney

		 	Its:	 	 Authorized Signatory

  
 4Amendment, Assignment and Assumption Agreement

 Exhibit 10.47 
 AMENDMENT, ASSIGNMENT AND ASSUMPTION AGREEMENT 

THIS AMENDMENT, ASSIGNMENT AND ASSUMPTION
AGREEMENT (this “Agreement”), dated as of January 3, 2011, by and among Pacific Office Properties Trust, Inc., a Maryland corporation (“POPT”), Pacific Office Properties, L.P.,
a Delaware limited partnership (the “Operating Partnership” and, together with POPT, the “Company”), and James R. Ingebritsen (the “Executive”). 

RECITALS 

A. Pacific Office Management, Inc., a Delaware corporation (“POMI”), POPT and the Executive previously entered
into that certain Employment Agreement dated as of March 29, 2010 (the “Employment Agreement”). 

B. POPT proposes to undertake an underwritten, registered public offering of its common stock, par value $0.0001 per share,
pursuant to a Registration Statement on Form S-11 (File No. 333-169729) filed with the Securities and Exchange Commission on October 4, 2010 (the “Offering”). 

C. A majority of the independent directors of POPT have previously determined that, upon the consummation of the Offering, it
shall become an internally-advised real estate investment trust and directly hire employees to manage the day-to-day operations of POPT and the Operating Partnership. 
 D. On the date hereof, POPT, the Operating Partnership and POMI have entered into that certain Amended and Restated Advisory Agreement Termination Agreement, which provides for the termination upon
the consummation of the Offering of the Amended and Restated Advisory Agreement, dated as of March 3, 2009, as amended on September 25, 2009, November 1, 2010 and December 7, 2010 (as so amended, the “Advisory
Agreement”). 
 E. The date of the consummation of the Offering shall accordingly constitute the Internal
Management Date (as such term is defined in the Employment Agreement). 
 F. In accordance with the terms of the
Employment Agreement, on the Internal Management Date, the term “Company,” as used in the Employment Agreement, shall mean POPT, and all references in the Employment Agreement to the “Company” shall be references to POPT.

 G. Pursuant to Section 11(a) of the Employment Agreement, the “Company” (as such term is defined in the
Employment Agreement) may assign any of its rights and obligations under the Employment Agreement to an Affiliate of the “Company.” 
 H. In connection with such internalization, POPT desires to assign to the Operating Partnership, and the Operating Partnership desires to assume from POPT, in each case as of the Internal
Management Date, all of POPT’s rights and obligations under the Employment Agreement. 

 AGREEMENTS 
 NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt and sufficiency of which is hereby agreed and acknowledged, the parties hereto agree as
follows: 
 1. Assignment. Effective as set forth in Section 3, POPT hereby conveys, assigns, transfers and
sets over to the Operating Partnership, all of POPT’s rights and obligations under the Employment Agreement. 
 2.
Assumption. Effective as set forth in Section 3, the Operating Partnership hereby assumes, and agrees to perform and to indemnify, defend and hold harmless POPT from and against, all of POPT’s obligations under the Employment
Agreement. 
 3. Effective Time. The assignment and assumption described above shall, in each case, become
effective as of the Internal Management Date (such time of effectiveness, the “Effective Time”). 
 4.
Employment. Following the Effective Time, the Executive shall be employed as the Chief Executive Officer of the Operating Partnership, reporting to POPT as the sole general partner of the Operating Partnership, and is appointed as
Chief Executive Officer of POPT, reporting to the Board of Directors of POPT. 
 5. Employment Agreement
References. Each of the Executive and the Operating Partnership hereby acknowledges and agrees that, from and after the Effective Time, except as the context otherwise requires, (i) the term “Company,” as used in the
Employment Agreement, shall mean the Operating Partnership, and all references in the Employment Agreement to the “Company” shall be references to the Operating Partnership and (ii) the term “subsidiaries of the Company”
shall be references to any subsidiaries of POPT (other than the Operating Partnership). 
 6. Entire Agreement;
Amendment. This Agreement and the Employment Agreement contain the entire agreement of the parties hereto with respect to the subject matter hereof. This Agreement shall not be amended or modified in any respect unless agreed to in writing
by each of the parties hereto. 
 7. Incorporation of Employment Agreement Provisions. Any provisions of the
Employment Agreement necessary or convenient to interpret or enforce this Agreement, including without limitation the provisions relating to mandatory arbitration are hereby incorporated as if originally a part hereof. 

8. Specific Amendments to Employment Agreement. The Employment Agreement is hereby amended in the following particulars:

 a. All references to “Change of Control” shall be to “Change in Control.” 

b. Section 1(h) shall be deleted in its entirety and replaced with the following: 

“(h) The term “Involuntary Termination” means the termination of the employment of the Executive (i) by the
Company that is not a Termination for Cause; or (ii) by Resignation for Good Reason.” 

  
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 c. Section 1(i) shall be deleted in its entirety and replaced with the
following: 
 “(i) The term “Pro Rata Bonus” means a payment equal to the most recently paid Annual
Performance Cash Bonus pro rated on a per diem basis (the number of days employed during the applicable calendar year divided by 365).” 
 d. The last paragraph of Section 7(a) shall be deleted in its entirety and replaced with the following: 
 “Except as may be provided by Section 21(b), if applicable, the Severance Payment and Pro Rata Bonus provided herein, shall be paid in a single lump sum on the sixtieth (60th) day
following the Date of Termination provided that the Executive executes, and does not revoke, a release and waiver, in the form attached hereto as Exhibit A (the “Release”) prior to such sixtieth (60th) day. If the
Release has not become irrevocable on or before such sixtieth (60th) day, the Executive shall forfeit any right to the Severance Payment and the benefits set forth in subparagraphs (ii) and (iii) above. If the Executive should die
after amounts become payable under this Section 7(a), such amounts shall thereafter be paid to the Executive’s estate.” 
 e. Section 7(c) shall be deleted in its entirety and replaced with the following: 
 “(c) Voluntary Termination. The Executive may terminate his employment voluntarily at any time by a notice pursuant to Section 9 of this Agreement. In the event that the
Executive voluntarily terminates his employment other than pursuant to a Resignation for Good Reason or Change in Control Event (“Voluntary Termination”), the Company shall only be obligated to the Executive for the amount of any
unpaid Accrued Compensation, awarded, but unpaid, Performance Cash Bonuses for previously completed Performance Periods, and the Company shall have no further obligation to the Executive under this Agreement.” 

f. The second sentence of Section 9 shall be deleted in its entirety. 

g. The fourth sentence of Section 16 shall deleted in its entirety and replaced with the following: 

“Neither the Executive nor the Company nor the arbitrator shall disclose the existence, content, or results of any arbitration
hereunder without the prior written consent of all parties, except by the Company to the extent such disclosures are required pursuant to the securities laws, if applicable, or as otherwise required by law.” 

h. The following sentence shall be added at the end of Section 16: 

“Nothing in this Agreement shall be construed as precluding Executive from filing a claim for workers’ compensation or
unemployment compensation benefits.” 

  
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 i. Section 17 shall be deleted in its entirety. 

j. In Section 22, the phrase “POP Entities” shall be replaced with the phrase “POPT and/or any of its
subsidiaries or affiliates.” 
 9. Termination. In the event that the Internal Management Date does not occur
on or prior to February 28, 2011, then this Agreement shall automatically terminate on February 28, 2011 and shall thereafter be of no further force or effect. 
 10. Governing Law. All questions concerning the construction, validity and interpretation of this Agreement and the performance of the obligations imposed by this Agreement shall be governed
by the internal laws of the State of Illinois applicable to agreements made and wholly to be performed in such state without regard to conflicts of laws. 
 [Remainder of this Page Intentionally Left Blank] 

  
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 IN WITNESS WHEREOF, the parties hereto have entered into this Assignment and Assumption
Agreement on the date first written above. 
  

							
	PACIFIC OFFICE PROPERTIES TRUST, INC.
		
	By:	 	 /s/ James R. Wolford

		 	Name: James R. Wolford
		 	Title: Chief Financial Officer
	
	PACIFIC OFFICE PROPERTIES, L.P.
		
	By:	 	PACIFIC OFFICE PROPERTIES TRUST, INC., its general partner
			
		 	By:	 	 /s/ James R. Wolford

		 		 	Name: James R. Wolford
		 		 	Title: Chief Financial Officer
	
	 /s/ James R. Ingebritsen

	James R. Ingebritsen

  
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