Document:

Document

Exhibit 10.52

CVS Health Corporation
Restrictive Covenant Agreement
I, Karen Lynch, enter into this Restrictive Covenant Agreement (“Agreement”) with CVS Health Corporation, on its own behalf and on behalf of its subsidiaries and affiliates (“CVS” or “Corporation”), which is effective as of February 1, 2021 (“Effective Date”) and shall supersede my current Restrictive Covenant Agreement, dated as of December 8, 2018 (“Current Restrictive Covenant Agreement”), which shall remain in full force and effect until such time. In consideration of the mutual promises in this Agreement, the parties agree as follows:

1.    Consideration for Agreement.  In connection with my duties and responsibilities at CVS Health Corporation or one of its subsidiaries or affiliates, including but not limited to CVS Pharmacy, Inc., Aetna, Inc., Caremark, LLC and Coram, LLC (collectively, the “Corporation”), the Corporation will provide me with Confidential Information and/or access to the Corporation’s customers and clients and the opportunity to develop and maintain relationships and goodwill with them.  In addition, the Corporation has awarded me additional financial compensation, pursuant to my Amended and Restated Employment Agreement, dated as of November 5, 2020 (“Employment Agreement”), which is contingent on the execution of this Agreement and compliance with its terms.

2.    Non-Competition.  During my employment by the Corporation and during the Non-Competition Period following the termination of my employment for any reason, I will not, directly or indirectly, engage in Competition or provide Consulting or Audit Services within the Restricted Area.

a.    Competition.  Engaging in “Competition” means providing services to a Competitor of the Corporation (whether as an employee, independent contractor, consultant, principal, agent, partner, officer, director, investor, or shareholder, except as a shareholder of less than one percent of a publicly traded company) that: (i) are the same or similar in function or purpose to the services I provided to the Corporation at any time during the last two years of my employment by the Corporation; or (ii) will likely result in the disclosure of Confidential Information to a Competitor or the use of Confidential Information on behalf of a Competitor.  If a representative of the Corporation, during my employment or the Non-Competition Period, requests that I identify the company or business to which I will be or am providing services, or with which I will be or am employed, and requests that I provide information about the services that I am or will be providing to such entity, I shall provide the Corporation with a written statement detailing the identity of the entity and the nature of the services that I am or will be providing to such entity with sufficient detail to allow the Corporation to independently assess whether I am or will be in violation of this Agreement.  Such statement shall be delivered to the Corporation’s Chief Human Resources Officer or her authorized delegate via personal delivery or overnight delivery within five calendar days of my receipt of such request.

b.    Competitor.  A “Competitor” for purposes of this Agreement shall mean any person, corporation or other entity that competes with one or more of the business offerings of the Corporation  As of the Effective Date, the Corporation’s business offerings include: (i) pharmacy benefits management (“PBM”), including:  (a) the administration of pharmacy benefits for businesses, government agencies and health plans; (b) mail order pharmacy; (c) specialty pharmacy; (d) the procurement of prescription drugs at a negotiated rate for dispensing; and (e) Medicare Part D 
Page | 1
2020 Karen Lynch RCA

services; (ii) retail, which includes the sale of prescription drugs, over-the-counter medications, beauty products and cosmetics, digital and traditional photo finishing services, digital and other online offerings, seasonal and other general merchandise, greeting cards, convenience foods and other product lines and services which  are sold by the Corporation’s retail division (“Retail”); (iii) retail health clinics (“MinuteClinic”);  (iv) the provision of pharmaceutical products and ancillary services, including specialty pharmaceutical products and support services and the provision of related pharmacy consulting, data management services and medical supplies to long-term care facilities, other healthcare service providers and recipients of services from such facilities (“Long- Term Care”); (v) the provision of prescription infusion drugs and related services (“Infusion”); (vi) the provision of insurance (“Insurance”) including: (a) health insurance products and services; (b) managed health care products and services; (c) dental, vision, workers compensation and employee assistance program products and services; (d) wellness products and services to employers, government agencies,  health plans, other businesses or third party payers;  (e) other voluntary products that are excepted benefits under HIPAA; (vii) the creation and provision of population health management products and services (“Health Management”); (viii) the administration of (ii) – (vii) (“Administration”); and (ix) any other business in which Corporation is engaged or imminently will be engaged. 

For the purpose of assessing whether I am engaging in “Competition” under Section 2(a)(i) above, a person, corporation or other entity shall not be considered a Retail Competitor if such entity derives annual gross revenues from its business in an amount which is less than 2% of the Corporation’s gross revenues from Retail, during its most recently completed fiscal year. For avoidance of doubt, this exclusion does not apply to a determination of whether I am engaging in “Competition” as set forth in Section 2(a)(ii) above.

The parties acknowledge that both the Corporation’s products and services and the entities which compete with the Corporation’s products and services evolve and an entity will be considered a Competitor if it provides products or services competitive with the products and services provided by the Corporation within the last two years of my employment.

I agree to this enterprise-wide definition of Competition which may prevent me from providing services to any of the Corporation’s PBM, Retail, Insurance, Health Management,  MinuteClinic, Long-Term Care, Administration and/or Infusion Competitors or any combination thereof during the Non-Competition period.       

c.    Consulting or Audit Services.  “Consulting or Audit Services” shall mean any activity which involves providing audit review or other consulting or advisory services with respect to any relationship or prospective relationship between the Corporation and any third party that is likely to result in the use or disclosure of Confidential Information.   

d.    Non-Competition Period.  The “Non-Competition Period” shall be the period of 24 months following the termination of my employment with the Corporation for any reason.

e.    Restricted Area.  “Restricted Area” refers to those states within the United States in which the Corporation conducts its business, as well as the District of Columbia and Puerto Rico.  To the extent I worked on international projects in Asia, Europe, Brazil or other countries where the Corporation may conduct business, the Restricted Area includes those countries and those countries where the Corporation is actively planning to conduct business. 
Page | 2
2020 Karen Lynch RCA

3.    Non-Solicitation.  During the Non-Solicitation Period, which shall be during my employment by the Corporation and for 24 months following the termination of my employment  with the Corporation for any reason, I will not, unless a duly authorized officer of the Corporation gives me written authorization to do so:

a.    interfere with the Corporation’s relationship with its Business Partners by soliciting or communicating (regardless of who initiates the communication) with a Business Partner to: (i) induce or encourage the Business Partner to stop doing business or reduce its business with the Corporation, or (ii) buy a product or service that competes with a product or service offered by the Corporation’s business.  “Business Partner” means: a customer (person or entity), prospective customer (person or entity), healthcare provider, supplier, agency, manufacturer, broker, hospital, hospital system, long-term care facility, and/or pharmaceutical manufacturer with whom the Corporation has a business relationship and with which I had business-related contact or dealings, or about which I received Confidential Information, in the two years prior to the termination of my employment with the Corporation.  A Business Partner does not include a customer, supplier, manufacturer, broker, hospital, hospital system, long-term care facility and/or pharmaceutical manufacturer which has fully and finally ceased doing any business with the Corporation independent of any conduct or communications by me or breach of this Agreement and such full cessation of business has been in effect for at least 1 year prior to my separation from employment with the Corporation.   Nothing in this Paragraph 3(a) shall prevent me from working as a staff pharmacist or in another retail position wherein I would be providing or selling prescriptions or other products directly to consumers.

b.    work on a Corporation account on behalf of a Business Partner or serve as the representative of a Business Partner for the Corporation. 

c.    interfere with the Corporation’s relationship with any employee or contractor of the Corporation by:  (i) soliciting or communicating with the employee or contractor to induce or encourage him or her to leave the Corporation’s employ or engagement (regardless of who first initiates the communication); (ii) helping another person or entity evaluate such employee or contractor as an employment or contractor candidate; or (iii) otherwise helping any person or entity hire an employee or contractor away from the Corporation.
4.    Non-Disclosure of Confidential Information.
a.    Subject to Sections 7 and  8 below, I will not at any time, whether during or after the termination of my employment, disclose to any person or entity any of the Corporation’s Confidential Information, except as may be appropriately required in the ordinary course of performing my duties as an employee of the Corporation.  The Corporation’s Confidential Information includes but is not limited to the following non-public information: trade secrets; computer code generated or developed by the Corporation; software or programs and related documentation; strategic compilations and analysis; strategic processes; business or financial methods, practices and plans; non-public costs and prices; operating margins; marketing, merchandising and selling techniques and information; customer lists; provider lists; details of customer agreements; pricing arrangements with pharmaceutical manufacturers, distributors or suppliers including but not limited to any discounts and/or rebates; pharmacy reimbursement rates; premium information; payment rates; contractual forms; expansion strategies; real estate strategies; operating strategies; sources of supply; patient records; business plans; other financial, commercial, business or technical information related to the Corporation and confidential information of third 
Page | 3
2020 Karen Lynch RCA

parties which is given to the Corporation  pursuant to an obligation or agreement to keep such information confidential (collectively, “Confidential Information”).  I shall not use or attempt to use any Confidential Information on behalf of any person or entity other than the Corporation, or in any manner which may injure or cause loss or may be calculated to injure or cause loss, whether directly or indirectly, to the Corporation.  If, at any time over the last two years of my employment at CVS, my position included access to Confidential Information, as described above, specifically related to the Corporation’s procurement of prescription drugs, I understand and agree my employment with a pharmaceutical manufacturer, distributor or supplier (“Pharmaceutical Entity”)would place a substantial risk of use and/or disclosure of Confidential Information with which I have been or will be entrusted during my employment with the Corporation.  In light of this risk of disclosure, I acknowledge and agree that the Corporation will be entitled to immediate injunctive relief to prevent me from disclosing any such Confidential Information in the course of my employment with any such Pharmaceutical Entity.  I agree that the disclosure of such Confidential Information, to Corporation’s PBM Competitors with which one may negotiate in the course of employment with such Pharmaceutical Entity, would cause immediate and irreparable harm to the Corporation. For employees residing in Connecticut, these restrictions on use or disclosure of Confidential Information will only apply for three (3) years after the end of my employment where information that does not qualify as a trade secret is concerned; however, the restrictions will continue apply to trade secret information for as long as the information at issue remains qualified as a trade secret.

b.    During my employment, I shall not make, use, or permit to be used, any materials of any nature relating to any matter within the scope of the business of the Corporation or concerning any of its dealings or affairs other than for the benefit of the Corporation.  I shall not, after the termination of my employment, use or permit to be used any such materials and shall return same in accordance with Section 5 below.

5.    Ownership and Return of the Corporation’s Property.  On or before my final date of employment with the Corporation, I shall return to the Corporation all property of the Corporation in my possession, custody or control, including but not limited to the originals and copies of any information provided to or acquired by me in connection with the performance of my duties for the Corporation, such as files, correspondence, communications, memoranda, e-mails, slides, records, and all other documents, no matter how produced or reproduced, all computer equipment, communication devices (including but not limited to any mobile phone or other portable digital assistant or device), computer programs and/or files, and all office keys and access cards.  I agree  that all the items described in this Section are the sole property of the Corporation.
6.    Rights to Inventions, Works.
a.    Assignment of Inventions.  All inventions, original works of authorship, developments, concepts, improvements, designs, discoveries, ideas, trademarks or trade secrets, whether patentable or otherwise protectable under similar law, made, conceived or developed by me, whether alone or jointly with others, from the date of my initial employment by the Corporation and continuing until the end of any period during which I am employed by the Corporation, relating or pertaining in any way to my employment with or the business of the Corporation (collectively referred to as “Inventions”) shall be promptly disclosed in writing to the Corporation.  I hereby assign to the Corporation, or its designee, all of my rights, title and interest to such Inventions.  All original works of authorship which are made by me (solely or jointly with others) within the scope of and during the period of my employment with the Corporation and which are protectable by copyright are “works made for hire,” as that term is defined in the United States Copyright Act and 
Page | 4
2020 Karen Lynch RCA

as such are the sole property of the Corporation. The decision whether to commercialize or market any Invention developed by me solely or jointly with others is within the Corporation’s sole discretion and for the Corporation’s sole benefit and no royalty will be due to me as a result of the Corporation’s efforts to commercialize or market any such Invention.

b.    Inventions Retained and Licensed.  I have attached hereto as Exhibit A, a list describing all inventions, original works of authorship, developments, improvements, and trade secrets which were made by me prior to my employment with the Corporation (“Prior Inventions”), which belong to me and are not assigned to the Corporation hereunder.  If no such list is attached, I represent that there are no such Prior Inventions.   I will not incorporate, or permit to be incorporated, any Prior Invention owned by me or in which I have an interest into a Corporation product, process or machine without the Corporation’s prior written consent.  Notwithstanding the foregoing sentence, if, in the course of my employment with the Corporation, I incorporate into a Corporation product, process or machine a Prior Invention owned by me or in which I have an interest, the Corporation is hereby granted and shall have a nonexclusive, royalty-free, irrevocable, perpetual, worldwide license to make, have made, modify, use and sell such Prior Invention as part of or in connection with such product, process or machine. 

c.    Patent and Copyright Registrations.  I will assist the Corporation, or its designee, at the Corporation’s expense, in every proper way to secure the Corporation’s rights in the Inventions and any copyrights, patents, mask work rights or other intellectual property rights relating thereto, including, but not limited to, the disclosure to the Corporation of all pertinent information and data with respect thereto, the execution of all applications, specifications, oaths, assignments and all other instruments which the Corporation shall deem necessary in order to apply for and obtain such rights and in order to assign and convey to the Corporation, its successors, assigns, and nominees the sole and exclusive rights, title and interest in and to such Inventions, and any copyrights, patents, mask work rights or other intellectual property rights relating thereto.  My obligation to execute or cause to be executed, when it is in my power to do so, any such instrument or papers shall continue after my employment ends for any reason and/or after the termination of this Agreement.  If the Corporation is unable because of my mental or physical incapacity or for any other reason to secure my signature to apply for or to pursue any application for any United States or foreign patents or copyright registrations covering Inventions or original works of authorship assigned to the Corporation as above, then I hereby irrevocably designate and appoint the Corporation and its duly authorized officers and agents as my agent and attorney in fact, to act for and in my behalf and stead to execute and file any such applications and to do all other lawfully permitted acts to further the prosecution and issuance of letters patent or copyright registrations thereon with the same legal force and effect as if executed by me. 

7.    Cooperation.
a.    In the event  I receive a subpoena, deposition notice, interview request, or other process or order to testify or produce Confidential Information or any other information or property of the Corporation, I shall promptly: (a) notify the Corporation of the item, document, or information sought by such subpoena, deposition notice, interview request, or other process or order; (b) furnish the Corporation with a copy of said subpoena, deposition notice, interview request, or other process or order; and (c) provide reasonable cooperation with respect to any procedure that the Corporation may initiate to protect Confidential Information or other interests.  If the Corporation objects to the subpoena, deposition notice, interview request, process, or order, I shall cooperate to ensure that there shall be no disclosure until the court or other applicable entity has ruled upon the objection, and 
Page | 5
2020 Karen Lynch RCA

then only in accordance with the ruling so made.  If no such objection is made despite a reasonable opportunity to do so, I shall be entitled to comply with the subpoena, deposition, notice, interview request, or other process or order provided that I have fulfilled the above obligations.

b.    I will cooperate fully with the Corporation, its affiliates, and their legal counsel in connection with any action, proceeding, or dispute arising out of matters with which I was directly or indirectly involved while serving as an employee of the Corporation, its predecessors, subsidiaries or affiliates.  This cooperation shall include, but shall not be limited to, meeting with, and providing information to, the Corporation and its legal counsel, maintaining the confidentiality of any past or future privileged communications with the Corporation’s legal counsel (outside and in-house), and making myself available to testify truthfully by affidavit, in depositions, or in any other forum on behalf of the Corporation.  The Corporation agrees to reimburse me for any reasonable and necessary out-of-pocket costs associated with my cooperation.

8.    Limitation on Restrictions.  Nothing in this Agreement is intended to or shall interfere with my right to file charges or participate in a proceeding with any appropriate federal, state or local government agency, including the Occupational Safety and Health Administration (“OSHA”), National Labor Relations Board (“NLRB”) or the Securities and Exchange Commission (“SEC”), or to exercise rights under Section 7 of the National Labor Relations Act (“NLRA”), or interfere with my  right to file a charge or complaint with or participate or cooperate in an investigation or proceeding with the US Equal Employment Opportunity Commission (“EEOC”) or comparable state or local agencies; such agencies have authority to carry out their statutory duties by investigating a charge, issuing a determination, filing a lawsuit, or taking any other action authorized by law.  I retain the right to participate in any such action   and retain the right to communicate with, NLRB, SEC, EEOC, OSHA and comparable state or local agencies and such communication shall not be limited by any provision in this Agreement. Nothing in this Agreement limits my right to receive an award for information provided to a government agency such as the SEC and OSHA.  In addition, nothing in this Agreement is intended to interfere with or restrain the immunity provided under 18 U.S.C. § 1833(b) for confidential disclosures of trade secrets to government officials, or lawyers, solely for the purpose of reporting or investigating a suspected violation of law; or in a sealed filing in court or other proceeding.

9.    Injunctive Relief.  Any breach of this Agreement by me will cause irreparable damage to the Corporation and, in the event of such breach, the Corporation shall have, in addition to any and all remedies of law, the right to an injunction, specific performance or other equitable relief to prevent the violation of my obligations hereunder, and without providing a bond to the extent permitted by the applicable rules of civil procedure.

10.    No Right of Continued Employment.  This Agreement does not create an obligation on the Corporation or any other person or entity to continue my employment.

11.    No Conflicting Agreements.  I represent that the performance of my job duties with the Corporation and my compliance with all of the terms of this Agreement does not and will not breach any agreement to keep in confidence proprietary information acquired by me in confidence or in trust prior to my employment by the Corporation.

12.    Entire Agreement/No Reliance/No Modifications.   Except as provided in this Section 12 and Section 13, this Agreement and any compensation, benefit or equity plan or agreement referred to herein or under which equity was granted, including my Employment Agreement, to the extent 
Page | 6
2020 Karen Lynch RCA

those other agreements apply to me, set forth the entire agreement between the parties hereto and fully supersede any and all prior and/or supplemental understandings, whether written or oral, between the parties concerning the subject matter of this Agreement; provided, however, that my Current Restrictive Covenant Agreement shall continue to remain in full force and effect until the Effective Date. I agree and acknowledge that I have not relied on any representations, promises or agreements of any kind in connection with my decision to accept the terms of this Agreement, except for the representations, promises and agreements herein.  This Agreement shall not have any effect on any prior existing agreements between Corporation and me regarding the arbitration of workplace legal disputes and any such agreements remain in full force and effect. Any modification to this Agreement must be made in writing and signed by me and the Corporation’s Chief Human Resources Officer or her authorized representative.

13.    Supplementation. The Restrictive Covenants set forth in this Agreement shall supplement and do not supersede the restrictions agreed to by me in any other agreement or contract I have entered into with the Corporation (including Aetna, Inc.). 

14.    No Waiver.  Any waiver by the Corporation of a breach of any provision of this Agreement, or of any other similar agreement with any other current or former employee of the Corporation, shall not operate or be construed as a waiver of any subsequent breach of such provision or any other provision hereof.

15.    Severability.  The parties hereby agree that each provision herein shall be treated as a separate and independent clause, and the unenforceability of any one clause shall in no way impair the enforceability of any of the other clauses herein.  Moreover, if one or more of the provisions of this Agreement are for any reason held to be excessively broad as to scope, activity, duration, subject or otherwise so as to be unenforceable at law, the parties consent to such provision or provisions being modified or limited by the appropriate judicial body (where allowed by applicable law), so as to be enforceable to the maximum extent compatible with the applicable law.

16.    Survival of Employee’s Obligations.  My obligations under this Agreement shall survive the termination of my employment regardless of the manner of such termination and shall be binding upon my heirs, personal representatives, executors, administrators and legal representatives.

17.    Eligibility for Severance Pay. If my employment with the Corporation terminates under circumstances in which I am eligible for severance under my Employment Agreement, the Corporation will offer me severance in accordance with my Employment Agreement and the length of the Non-Competition Period will match the length of the severance period. I acknowledge that my Employment Agreement sets forth pre-requisites I must meet in order to receive severance, including but not limited to execution and non-revocation of the form of release agreement attached as Exhibit A to my Employment Agreement. In the event that the Corporation fails to comply with its obligations to offer me severance according to my Employment Agreement, then Section 2 of this Agreement shall be of no further effect. I agree that if I decline the Corporation’s offer of severance, I shall continue to be subject to the restrictions in Section 2.

18.    Corporation’s Right to Assign Agreement.  The Corporation has the right to assign this Agreement to its successors and assigns without the need for further agreement or consent by me, and all covenants and agreements hereunder shall inure to the benefit of and be enforceable by said successors or assigns.
Page | 7
2020 Karen Lynch RCA

19.    Non-Assignment.  I shall not assign my rights and obligations under this Agreement, in whole or in part, whether by operation of law or otherwise, without the prior written consent of the Corporation, and any such assignment contrary to the terms hereof shall be null and void and of no force or effect.

20.    Governing Law; Venue; Headings.  This Agreement shall be governed by and construed in accordance with the laws of the state of Rhode Island. I agree that any claim or dispute I may have against the corporation must be resolved by a court located in the state of Rhode Island. The headings of the sections contained in this Agreement are for convenience only and shall not be deemed to control or affect the meaning or construction of any provision of this Agreement.

21.    Tolling.  In the event I violate one of the time-limited restrictions in this Agreement, I agree that the time period for such violated restriction shall be extended by one day for each day I have violated the restriction, up to a maximum extension equal to the length of the original period of the restricted covenant.

IN WITNESS WHEREOF, the undersigned has executed this Agreement as a sealed instrument as of the date set forth below.

												
	/s/ Karen S. Lynch		/s/ Lisa Bisaccia
				Lisa Bisaccia
				Chief Human Resources Officer
			CVS Health Corporation
	Employee ID		
				
				
	Date:	11-6-2020		
				
				

Page | 8
2020 Karen Lynch RCAEX-4.5

 Exhibit 4.5 

OAKTREE REAL ESTATE INCOME TRUST, INC. 

Class T, S, D, C and I Share Repurchase Plan 

Effective as of January 29, 2021 

Definitions 
 Class C
shares – shall mean the shares of the Company’s common stock classified as Class C. 
 Class D
shares – shall mean the shares of the Company’s common stock classified as Class D. 
 Class I
shares – shall mean the shares of the Company’s common stock classified as Class I. 
 Class S
shares – shall mean the shares of the Company’s common stock classified as Class S. 
 Class T
shares – shall mean the shares of the Company’s common stock classified as Class T. 
 Company – shall mean Oaktree
Real Estate Income Trust, Inc., a Maryland corporation. 
 NAV – shall mean the net asset value of the Company or a class of its shares, as
the context requires, determined in accordance with the Company’s valuation policies and procedures. 
 Stockholders – shall mean the
holders of Class T, Class S, Class D, Class C or Class I shares. 
 Transaction Price – shall mean the repurchase
price per share for each class of common stock, which shall be equal to the then-current offering price before applicable selling commissions and dealer manager fees, as determined monthly. 

Share Repurchase Plan 
 Stockholders may request that the
Company repurchase shares of its common stock through their financial advisor or directly with the Company’s transfer agent. The procedures relating to the repurchase of shares of the Company’s common stock are as follows: 

 

	 	•	 	 Under this share repurchase plan, to the extent the Company chooses to repurchase shares in any particular month
the Company will only repurchase shares as of the opening of the last calendar day of that month (a “Repurchase Date”). To have shares repurchased, a Stockholder’s repurchase request and required documentation must be received in good
order by 4:00 p.m. (Eastern time) on the second to last business day of the applicable month. Settlements of share repurchases will be made within three business days of the Repurchase Date. The Company will begin this share repurchase plan in the
first month of the first full calendar quarter following the conclusion of its escrow period. Repurchase requests received and processed by the Company’s transfer agent will be effected at a repurchase price equal to the Transaction Price on
the applicable Repurchase Date (which will generally be equal to the Company’s prior month’s NAV per share), subject to any Early Repurchase Deduction (as defined below). 

 

	 	•	 	 A Stockholder may withdraw his or her repurchase request by notifying the transfer agent, directly or through the
Stockholder’s financial intermediary, on the Company’s toll-free, automated telephone
line, 833-OAK-REIT (625-7348). The line is open on each business day between the hours of 9:00 a.m. and 6:00 p.m.
(Eastern time). Repurchase requests must be cancelled before 4:00 p.m. (Eastern time) on the last business day of the applicable month. 

  

	 	•	 	 If a repurchase request is received after 4:00 p.m. (Eastern time) on the second to last business day of the
applicable month, the purchase order will be executed, if at all, on the next month’s Repurchase Date at the Transaction Price applicable to that month (subject to any Early Repurchase Deduction), unless such request is withdrawn prior to the
repurchase. Repurchase 

  
 2 

 

	 	requests received and processed by the Company’s transfer agent on a business day, but after the close of business on that day or on a day that is not a business day, will be deemed received on the next business day.

  

	 	•	 	 Repurchase requests may be made by mail or by contacting a financial intermediary, both subject to certain
conditions described in this share repurchase plan. If making a repurchase request by contacting the Stockholder’s financial intermediary, the Stockholder’s financial intermediary may require the Stockholder to provide certain
documentation or information. If making a repurchase request by mail to the transfer agent, the Stockholder must complete and sign a repurchase authorization form, which can be found at the end of this share repurchase plan. Written
requests should be sent to the transfer agent at the following address: 

 DST Systems, Inc. 

PO Box 219663 
 Kansas City, MO
64121 
 Overnight Address: 
 DST
Systems, Inc. 
 430 W 7th St. Suite 219349 

Kansas City, MO 64105 
 Toll Free Number: 833-OAK-REIT (625-7348) 

Corporate investors and other non-individual entities must have an appropriate certification on file
authorizing repurchases. A signature guarantee may be required. 
  

	 	•	 	 For processed repurchases, Stockholders may request that repurchase proceeds are to be paid by mailed check
provided that the amount is less than $100,000 and the check is mailed to an address on file with the transfer agent for at least 30 days. 

  

	 	•	 	 Processed repurchases of more than $100,000 will be paid only via wire transfer. For this reason, Stockholders
who own more than $100,000 of the Company’s common stock must provide wiring instructions for their brokerage account or designated U.S. bank account. Stockholders who own less than $100,000 of the Company’s common stock may also receive
repurchase proceeds via wire transfer, provided the payment amount is at least $2,500. For all repurchases paid via wire transfer, the funds will be wired to the account on file with the transfer agent or, upon instruction, to another financial
institution provided that the Stockholder has made the necessary funds transfer arrangements. The customer service representative can provide detailed instructions on establishing funding arrangements and designating a bank or brokerage account on
file. Funds will be wired only to U.S. financial institutions (ACH network members). 

  

	 	•	 	 A medallion signature guarantee will be required in certain circumstances described below. A medallion signature
guarantee may be obtained from a domestic bank or trust company, broker-dealer, clearing agency, savings association or other financial institution which participates in a medallion program recognized by the Securities Transfer Association. The
three recognized medallion programs are the Securities Transfer Agents Medallion Program, the Stock Exchanges Medallion Program and the New York Stock Exchange, Inc. Medallion Signature Program. Signature guarantees from financial institutions which
are not participating in any of these medallion programs will not be accepted. A notary public cannot provide signature guarantees. The Company reserves the right to amend, waive or discontinue this policy at any time and establish other criteria
for verifying the authenticity of any repurchase or transaction request. The Company may require a medallion signature guarantee if, among other reasons: (1) the amount of the repurchase request is over $500,000; (2) a Stockholder wishes
to have repurchase proceeds transferred by wire to an account other than the designated bank or brokerage account on file for at least 30 days or sent to an address other than such Stockholder’s address of record for the past 30 days; or
(3) the Company’s transfer agent cannot confirm a Stockholder’s identity or suspects fraudulent activity. 

  
 3 

 

	 	•	 	 If a Stockholder has made multiple purchases of shares of the Company’s common stock, any repurchase request
will be processed on a first in/first out basis unless otherwise requested in the repurchase request. 

 Minimum Account Repurchases

 In the event that any Stockholder fails to maintain the minimum balance of $500 of shares of the Company’s common stock, the Company may
repurchase all of the shares held by that Stockholder at the repurchase price in effect on the date the Company determines that such Stockholder has failed to meet the minimum balance, less any Early Repurchase Deduction. Minimum account repurchases
will apply even in the event that the failure to meet the minimum balance is caused solely by a decline in the Company’s NAV. Minimum account repurchases are subject to Early Repurchase Deduction. 

Sources of Funds for Repurchases 
 The Company may
fund repurchase requests from sources other than cash flow from operations, including, without limitation, the sale of assets, borrowings, return of capital or offering proceeds, and the Company has no limits on the amounts it may pay from such
sources. 
 Repurchase Limitations 
 The Company
may repurchase fewer shares than have been requested in any particular month to be repurchased under this share repurchase plan, or none at all, in its discretion at any time. In addition, the total amount of aggregate repurchases of Class T
shares, Class S shares, Class D shares, Class C shares and Class I shares will be limited to no more than 2% of the Company’s aggregate NAV per month and no more than 5% of the Company’s aggregate NAV per calendar
quarter. In the event that the Company determines to repurchase some but not all of the shares submitted for repurchase during any month, shares submitted for repurchase during such month will be repurchased on a pro rata basis. All unsatisfied
repurchase requests must be resubmitted after the start of the next month or quarter, or upon the recommencement of this share repurchase plan, as applicable. 

If the Transaction Price for the applicable month is not made available by the tenth business day prior to the last business day of the month (or is changed
after such date), then no repurchase requests will be accepted for such month and Stockholders who wish to have their shares repurchased the following month must resubmit their repurchase requests. 

Should repurchase requests, in the Company’s judgment, place an undue burden on the Company’s liquidity, adversely affect the Company’s
operations or risk having an adverse impact on the Company as a whole, or should the Company otherwise determine that investing its liquid assets in real properties or other illiquid investments rather than repurchasing the Company’s shares is
in the best interests of the Company as a whole, the Company may choose to repurchase fewer shares in any particular month than have been requested to be repurchased, or none at all. Further, the Company’s board of directors may modify, suspend
or terminate this share repurchase plan if it deems such action to be in the best interest of the Company and its Stockholders. Material modifications, including any amendment to the 2% monthly or 5% quarterly limitations on repurchases, to and
suspensions of the share repurchase plan will be promptly disclosed to Stockholders in a prospectus supplement (or post-effective amendment if required by the Securities Act of 1933, as amended) or special or periodic report filed by the Company.
Material modifications will also be disclosed on the Company’s website. In addition, the Company may determine to suspend this share repurchase plan due to regulatory changes, changes in law or if the Company becomes aware of undisclosed
material information that it believes should be publicly disclosed before shares are repurchased. Once this share repurchase plan is suspended, the Company’s board of directors must affirmatively authorize the recommencement of this plan before
Stockholder requests will be considered again. 
 Early Repurchase Deduction 

There is no minimum holding period for shares of the Company’s common stock and Stockholders can request that the Company repurchase their shares at any
time. However, subject to limited exceptions, shares that have not been outstanding for at least one year will be repurchased at 95% of the Transaction Price (an “Early Repurchase Deduction”) on the applicable Repurchase Date. This Early
Repurchase Deduction will also generally apply to 

  
 4 

 

 minimum account repurchases. The Early Repurchase Deduction will not apply to shares acquired through the
Company’s distribution reinvestment plan, or to shares Oaktree Fund Advisors, LLC, the Company’s adviser, elects to receive instead of cash in respect of its management fee or performance fee. 

The Company may, from time to time, waive the Early Repurchase Deduction in the following circumstances: 

 

	 	•	 	 repurchases resulting from death or qualifying disability; or 

 

	 	•	 	 in the event that a Stockholder’s shares are repurchased because such Stockholder has failed to maintain the
$500 minimum account balance. 

 As set forth above, the Company may waive the Early Repurchase Deduction in respect of repurchase of
shares resulting from the death of a Stockholder who is a natural person, subject to the conditions and limitations described above, including shares held by such Stockholder through a revocable grantor trust or an IRA or other retirement or
profit-sharing plan, after receiving written notice from the estate of the Stockholder, the recipient of the shares through bequest or inheritance, or, in the case of a revocable grantor trust, the trustee of such trust, who shall have the sole
ability to request repurchase on behalf of the trust. The Company must receive the written repurchase request within 12 months after the death of the Stockholder in order for the requesting party to rely on any of the special treatment described
above that may be afforded in the event of the death of a Stockholder. Such a written request must be accompanied by a certified copy of the official death certificate of the Stockholder. If spouses are joint registered holders of shares, the
request to have the shares repurchased may be made if either of the registered holders dies. If the Stockholder is not a natural person, such as certain trusts or a partnership, corporation or other similar entity, the right of repurchase upon death
does not apply. 
 Furthermore, as set forth above, the Company may waive the Early Repurchase Deduction in respect of repurchase of shares held by a
Stockholder who is a natural person who is deemed to have a qualifying disability (as such term is defined in Section 72(m)(7) of the Internal Revenue Code of 1986, as amended), subject to the conditions and limitations described above,
including shares held by such Stockholder through a revocable grantor trust, or an IRA or other retirement or profit-sharing plan, after receiving written notice from such Stockholder, provided that the condition causing the qualifying disability
was not pre-existing on the date that the Stockholder became a Stockholder. The Company must receive the written repurchase request within 12 months of the initial determination of the
Stockholder’s disability in order for the Stockholder to rely on any of the waivers described above that may be granted in the event of the disability of a Stockholder. If spouses are joint registered holders of shares, the request to have the
shares repurchased may be made if either of the registered holders acquires a qualifying disability. If the Stockholder is not a natural person, such as certain trusts or a partnership, corporation or other similar entity, the right of repurchase
upon disability does not apply. 
 Items of Note 

When Stockholders make a request to have shares repurchased, they should note the following: 

 

	 	•	 	 If Stockholders are requesting that some but not all of their shares be repurchased, they must keep their balance
above $500 to avoid minimum account repurchase, if applicable; 

  

	 	•	 	 Stockholders will not receive interest on amounts represented by uncashed repurchase checks;

  

	 	•	 	 Under applicable anti-money laundering regulations and other federal regulations, repurchase requests may be
suspended, restricted or canceled and the proceeds may be withheld; 

  

	 	•	 	 Internal Revenue Service regulations require the Company to determine and disclose on Form 1099-B the adjusted cost basis for shares of the Company’s stock sold or repurchased. Although there are several available methods for determining the adjusted cost basis, unless a Stockholder
elects otherwise, which such Stockholder may do by checking the appropriate box on the subscription agreement or calling the Company’s customer service number at 833-OAK-REIT (625-7348), the Company will utilize
the first-in-first-out method; and 

 

	 	•	 	 All shares of the Company’s common stock requested to be repurchased must be beneficially owned by the
Stockholder of record making the request or his or her estate, heir or beneficiary, or the party requesting the repurchase must be authorized to do so by the Stockholder of record of the shares or his or her estate,

  
 5 

 

	 	heir or beneficiary, and such shares of common stock must be fully transferable and not subject to any liens or encumbrances. In certain cases, the Company may ask the requesting party to provide evidence satisfactory to the Company
that the shares requested for repurchase are not subject to any liens or encumbrances. If the Company determines that a lien exists against the shares, the Company will not be obligated to repurchase any shares subject to the lien.

 Frequent Trading and Other Policies 

The Company may reject for any reason, or cancel as permitted or required by law, any purchase orders for shares of the Company’s common stock. 

In general, Stockholders may request that the Company repurchase their shares of the Company’s common stock once every 30 days. However, the Company
prohibits frequent trading. The Company defines frequent trading as follows: 
  

	 	•	 	 any Stockholder who requests that the Company repurchase such Stockholder’s shares of the Company’s
common stock within 30 calendar days of the purchase of such shares; 

  

	 	•	 	 transactions deemed harmful or excessive by the Company (including, but not limited to, patterns of purchases and
repurchases), in the Company’s sole discretion; and 

  

	 	•	 	 transactions initiated by financial advisors, among multiple Stockholder accounts, that in the aggregate are
deemed harmful or excessive. 

 The following are excluded when determining whether transactions are excessive: 

 

	 	•	 	 purchases and requests for repurchase of the Company’s shares in the amount of $2,500 or less;

  

	 	•	 	 purchases or repurchases initiated by the Company; and 

 

	 	•	 	 transactions subject to the trading policy of an intermediary that the Company deems materially similar to the
Company’s policy. 

 At the Company’s discretion, upon the first violation of the policy in a calendar year, purchase and
repurchase privileges may be suspended for 90 days. Upon a second violation in a calendar year, purchase and repurchase privileges may be suspended for 180 days. On the next business day following the end of the 90 or 180 day suspension, any
transaction restrictions placed on a Stockholder may be removed. 
 Mail and Telephone Instructions 

The Company and its transfer agent will not be responsible for the authenticity of mail or phone instructions or losses, if any, resulting from unauthorized
Stockholder transactions if they reasonably believe that such instructions were genuine. The Company and its transfer agent have established reasonable procedures to confirm that instructions are genuine including requiring the Stockholder to
provide certain specific identifying information on file and sending written confirmation to Stockholders of record no later than five days following execution of the instruction. Failure by the Stockholder or its agent to notify the Company’s
transfer agent in a timely manner, but in no event more than 60 days from receipt of such confirmation, that the instructions were not properly acted upon or any other discrepancy will relieve the Company, the Company’s transfer agent and the
financial advisor of any liability with respect to the discrepancy. 

			
	 

 
	  	 REPURCHASE AUTHORIZATION FOR

Oaktree Real Estate Income Trust, Inc.

 Use this form to request repurchase of your shares in Oaktree Real Estate Income Trust, Inc. (the “Company”). Please
complete all sections below. 
  

	1.	 REPURCHASE FROM THE FOLLOWING ACCOUNT 

 

			
	 	 
	 Name(s) on the Account

 
	 	 

  

			
	 	 
	 Account Number

 
	 	 Social Security Number/TIN

 

  

					
	 	 	 
	 Financial Advisor Name

 
	 	 	 	 Financial Advisor Phone Number

 

  

			
	 2.  REPURCHASE AMOUNT (Check one)
	  	 3.  REPURCHASE TYPE (Check one)

		
	☐ All Shares	  	☐ Normal
		
	☐ Number of Shares                                 	  	☐ Death
		
	☐ Dollar Amount $                                 	  	☐ Disability

 Additional documentation is required if repurchasing due to Death or Disability. Contact Investor Relations
for detailed instructions at 833-OAK-REIT (625-7348). 

 

	4.	 PAYMENT INSTRUCTIONS (Select only one) 

Indicate how you wish to receive your repurchase payment below. If an option is not selected, a check will be sent to your address of record. Repurchase
proceeds for qualified accounts, including IRAs and other custodial accounts, and certain broker-controlled accounts as required by your broker/dealer of record, will automatically be issued to the custodian or broker/dealer of record, as
applicable. All custodial held and broker-controlled accounts must include the custodian and/or broker/dealer signature. 

☐  Cash/Check Mailed to Address of Record 

☐  Cash/Check Mailed to Third Party/Custodian (Signature Guarantee Required) 

 

							
	  

Name / Entity Name / Financial Institution
  
	  	 Mailing Address

 
	  	 

 

							
	  

City
  
	  	  

State
  
	  	  

Zip Code
  
	  	  

Account Number
  

 ☐  Cash/Direct Deposit Attach
a pre-printed voided check. (Non-Custodian Investors Only) 

I authorize Oaktree Real Estate Income Trust, Inc. or its agent to deposit my distribution into my checking or savings account. In the event that Oaktree
Real Estate Income Trust, Inc. deposits funds erroneously into my account, they are authorized to debit my account for an amount not to exceed the amount of the erroneous deposit. 

 

							
	 	 	 	 
	  

Financial Institution Name
  
	  	 Mailing Address

 
	  	 City
  
	  	 State

 

  

							
	 	 	 
	  

Your Bank’s ABA Routing Number
  
	  	 Your Bank Account Number

 
	  	 

  
 7 

 

 PLEASE ATTACH A PRE-PRINTED VOIDED CHECK 

 

	5.	 SHARE REPURCHASE PLAN CONSIDERATIONS (Select only one) 

The Company’s share repurchase plan contains limitations on the number of shares that can be repurchased under the plan during any month and quarter. In
addition to these limitations, the Company cannot guarantee that it will have sufficient funds to accommodate all repurchase requests made in any applicable repurchase period and the Company may elect to repurchase fewer shares than have been
requested in any particular month, or none at all. If the number of shares subject to repurchase requests exceeds the then applicable limitations, or if the Company otherwise does not make all requested repurchases, each shareholder’s request
will be reduced on a pro rata basis after the Company has repurchased all shares for which repurchase has been requested due to death or disability. If repurchase requests are reduced on a pro rata basis, you may elect (at the time of your
repurchase request) to either withdraw your entire request for repurchase or have your request honored on a pro-rata basis. If you wish to have the remainder of your initial request repurchased, you
must resubmit a new repurchase request for the remaining amount in a subsequent month. Please select one of the following options below. If an option is not selected, your repurchase request will be processed on a pro-rata basis, if needed. 
 ☐  Process my repurchase request on a pro-rata basis each repurchase period until my entire request has been honored. 
 ☐  Withdraw
(do not process) my entire repurchase request if amount will be reduced on a pro-rata basis. 
  

	6.	 COST BASIS SELECTION (Select only one) 

U.S. federal income tax information reporting rules generally apply to certain transactions involving the Company’s shares. Where they apply, the
“cost basis” calculated for the shares involved will be reported to the Internal Revenue Service (“IRS”) and to you. Generally these rules apply to the Company’s shares, including those purchased through the Company’s
distribution reinvestment plan. You should consult your own tax advisor regarding the consequences of these rules and your cost basis reporting options. 

Indicate below the cost basis method you would like the Company to apply. 

IMPORTANT: If an option is not selected, your cost basis will be calculated using the FIFO method. 

 

	☐	 FIFO (First – In / First Out) 

 

	☐	 LIFO (Last – In / First Out) Consult your tax advisor to determine whether this method is
available to you. 

  

	☐	 Specific Lots 

If you have selected “Specific Lots,” please identify the lots below: 
  

			
	  

Date of Purchase:
  
	  	  

Amount of Purchase:
  

 

			
	 	 
	  

Date of Purchase:
  
	  	  

Amount of Purchase:
  

 

			
	  

Date of Purchase:
  
	  	  

Amount of Purchase:
  

 

	7	 AUTHORIZATION AND SIGNATURE 

IMPORTANT: Signature Guarantee is required if any of the following applies: 
  

	 	•	 	 Amount to be repurchased is $500,000 or more. 

 

	 	•	 	 You wish to have repurchase proceeds transferred by wire to an account other than the designated bank or
brokerage account on file for at least 30 days or sent to an address other than your address of record for the past 30 days. 

  

	 	•	 	 The repurchase is to be sent to an address other than the address on record. 

 

	 	•	 	 If name has changed from the name in the account registration, the Company must have a one-and-the-same name signature guarantee. A one-and-the-same signature guarantee must state “<Previous Name> is
one-and-the-same as <New Name>” and you must sign your old and new name. 

  
 8 

 

	 	•	 	 The repurchase proceeds are deposited directly according to banking instructions provided on this form. (Non-Custodial Investors Only) 

  

	 	•	 	 The Company’s transfer agent cannot confirm your identity or suspects fraudulent activity.

  

							
	  

Investor Name (Please Print)
  
	 	 	  	  

Signature
  
	  	  

Date
  

 

							
	  

Co-Investor Name (Please Print)
  
	 	 	  	  

Signature
  
	  	  

Date
  

  

					
	
Signature Guarantee
 (If
Required, Affix Medallion or Signature
 Guarantee Stamp

Below)
	 	 	  	 Custodian and/or
Broker/Dealer Authorization
 (if applicable)

	  	 	 	  	  

Signature of Authorized Person

* Please refer to the prospectus you received in connection with your initial investment in Oaktree Real Estate Income Trust, Inc., as amended by any
amendments or supplements to that prospectus, for a description of the current terms of the Company’s share repurchase plan. A copy of the prospectus, as amended and supplemented to date, is located at www.oaktreeREIT.com and at
www.sec.gov. The repurchase price will be available in the Company’s prospectus supplements and at www.oaktreeREIT.com and www.sec.gov. There are various limitations on your ability to request that the Company repurchase your
shares, including, subject to certain exceptions, an early repurchase deduction if your shares have been outstanding for less than one year. Please see a copy of the applicable prospectus, as amended and supplemented to date, for the current
repurchase price. The Company’s board of directors may determine to amend, suspend or terminate the Company’s share repurchase plan without stockholder approval. The Company will provide written notice of any amendment, suspension or
termination of the plan in a filing with the SEC at www.sec.gov, which will also be made available at www.oaktreeREIT.com. Repurchase of shares, when requested, will generally be made monthly; provided however, that the board of
directors may determine from time to time to adjust the timing of repurchases. All requests for repurchases must be received in good order by 4:00 p.m. (Eastern time) on the second to last business day of the applicable month. A stockholder may
withdraw his or her repurchase request by notifying the transfer agent, directly or through the stockholder’s financial intermediary, on the Company’s toll-free, automated telephone line, 833-OAK-REIT (625-7348). Repurchase requests must be cancelled before 4:00 p.m. (Eastern time) on the applicable Repurchase Date (as defined in the Company’s
share repurchase plan) (or if such Repurchase Date is not a business day, the prior business day). The Company cannot guarantee that it will have sufficient available funds or that it will otherwise be able to accommodate any or all requests made in
any applicable repurchase period. 
  
  

Mail to: Oaktree Real Estate Income Trust ∎ DST Systems, Inc. ∎ PO Box 219663 ∎ Kansas City, MO 64121 

Overnight Delivery: Oaktree Real Estate Income Trust ∎ DST Systems, Inc. ∎ DST Systems ∎ 430 W 7th St. Suite 219349
∎ Kansas City, MO 64105 
 Investor Relations: 833-OAK-REIT (625-7348)

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00321-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00321-of-00352.parquet"}]]