Document:

Exhibit 10.1 Laon Extension Agreement

CONVERTIBLE NOTE EXTENSION AGREEMENT

Pursuant to that certain Convertible Note dated as of July 10, 2013, by and between Domain Media, LLC, a wholly owned subsidiary of Domain Media Corp., (the “Company” or “Borrower”) and Chris Kern and/or his affiliates and assigns (the “Holder” or “Lender”), and having a three (3) year term being due and payable as of July 10, 2016, the parties hereto agree to extend the maturity due date of the Convertible Note for one (1) year to be due and payable on or before July 10, 2017.  As of July 10, 2016, the current approximate balance of the Convertible Note is $302,000.

All of the terms and conditions of the Convertible Note shall remain in full force and effect, and this Extension Agreement does not waive, amend or alter any other terms or conditions therein. 

Agreed & Accepted:

Company: Domain Media Corp.

Holder: Chris Kern

/s/ Chris Kern                                    

/s/ Chris Kern                                    

Authorized Signature

Mr. Chris Kern

Print Name: Chris Kern

Date: July 10, 2016

Title: President & Director

Date: July 10, 2016Exhibit 10.1

 

THIRD AMENDED AND RESTATED INVESTMENT ADVISORY
AGREEMENT

BETWEEN

GLADSTONE COMMERCIAL CORPORATION

AND

GLADSTONE MANAGEMENT CORPORATION

_______________________

 

This Third Amended and Restated Investment Advisory
Agreement Between Gladstone Commercial Corporation and Gladstone Management Corporation (this “Agreement”)
is made this 12th day of July 2016, by and between Gladstone Commercial Corporation, a Maryland corporation (the “Company”),
and Gladstone Management Corporation, a Delaware corporation (the “Adviser”).

 

Whereas, this Agreement shall amend and restate
that certain Second Amended and Restated Investment Advisory Agreement between the Company and the Adviser, dated July 24, 2015.

 

Whereas, the Company is a real estate investment
trust organized primarily for the purpose of investing in and owning net leased industrial and commercial rental property and selectively
making long-term mortgage loans collateralized by industrial and commercial property;

 

Whereas, the Adviser is an investment adviser
that has registered under the Investment Advisers Act of 1940; and

 

Whereas, the Company desires to retain the Adviser
to furnish investment advisory services to the Company on the terms and conditions hereinafter set forth, and the Adviser wishes
to be retained to provide such services.

 

Now, therefore, in consideration of the premises
and for other good and valuable consideration, the parties hereby agree as follows:

 

1. Duties of the Adviser.

 

(a) The Company hereby employs the Adviser
to act as the investment adviser to the Company and to manage the investment and reinvestment of the assets of the Company, subject
to the supervision of the Board of Directors of the Company, for the period and upon the terms herein set forth, (i) in accordance
with the investment objective, policies and restrictions that are set forth in the Company’s Annual Reports on Form 10-K,
filed with the Securities and Exchange Commission from year to year, pursuant to Section 13 of the Securities and Exchange Act
of 1934 and (ii) during the term of this Agreement in accordance with all applicable federal and state laws, rules and regulations,
and the Company’s charter and by-laws. Without limiting the generality of the foregoing, the Adviser shall, during the term
and subject to the provisions of this Agreement, (i) determine the composition of the portfolio of the Company, the nature
and timing of the changes therein and the manner of implementing such changes; (ii) identify, evaluate and negotiate the structure
of the investments made by the Company; (iii) close and monitor the Company’s investments; (iv) determine the real
property, securities and other assets that the Company will purchase, retain, or sell; (v) perform due diligence on prospective
portfolio companies; and (vi) provide the Company with such other investment advisory, research and related services as the
Company may, from time to time, reasonably require for the investment of its funds. The Adviser shall have the discretion, power
and authority on behalf of the Company to effectuate its investment decisions for the Company, including the execution and delivery
of all documents relating to the Company’s investments and the placing of orders for other purchase or sale transactions
on behalf of the Company. In the event that the Company determines to acquire debt financing, the Adviser will arrange for such
financing on the Company’s behalf, subject to the oversight and approval of the Company’s Board of Directors. If it
is necessary for the Adviser to make investments on behalf of the Company through a special purpose vehicle, the Adviser shall
have authority to create or arrange for the creation of such special purpose vehicle and to make such investments through such
special purpose vehicle.

 

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(b) The Adviser hereby accepts such employment
and agrees during the term hereof to render the services described herein for the compensation provided herein.

 

(c) The Adviser is hereby authorized to
enter into one or more sub-advisory agreements with other advisers (each, a “Sub-Adviser”) pursuant to
which the Adviser may obtain the services of the Sub-Adviser(s) to assist the Adviser in fulfilling its responsibilities hereunder.
Specifically, the Adviser may retain a Sub-Adviser to recommend specific investments based upon the Company’s investment
objective and policies, and work, along with the Adviser, in structuring, negotiating, arranging or effecting the acquisition or
disposition of such investments and monitoring investments on behalf of the Company, subject to the oversight of the Adviser and
the Company. The Adviser, and not the Company, shall be responsible for any compensation payable to any Sub-Adviser. Any sub-advisory
agreement entered into by the Adviser shall be in accordance with the requirements of applicable federal and state law.

 

(d) The Adviser shall for all purposes
herein provided be deemed to be an independent contractor and, except as expressly provided or authorized herein, shall have no
authority to act for or represent the Company in any way or otherwise be deemed an agent of the Company.

 

(e) The Adviser shall keep and preserve
for a reasonable period any books and records relevant to the provision of its investment advisory services to the Company and
shall specifically maintain all books and records with respect to the Company’s portfolio transactions and shall render to
the Company’s Board of Directors such periodic and special reports as the Board may reasonably request. The Adviser agrees
that all records that it maintains for the Company are the property of the Company and will surrender promptly to the Company any
such records upon the Company’s request, provided that the Adviser may retain a copy of such records.

 

(f) The Adviser has adopted and implemented
written policies and procedures reasonably designed to prevent violation of the Federal Securities laws by the Adviser. The Adviser
has provided the Company, and shall provide the Company at such times in the future as the Company shall reasonably request, with
a copy of such policies and procedures.

 

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2. Company’s Responsibilities and Expenses Payable by the Company.

 

All investment professionals of the Adviser
and their respective staffs, when and to the extent engaged in providing investment advisory and management services hereunder,
and the compensation and routine overhead expenses of such personnel allocable to such services, will be provided and paid for
by the Adviser and not by the Company. The Company will bear all other costs and expenses of its operations and transactions, including
(without limitation) those relating to: organization and offering; expenses incurred by the Adviser payable to third parties, including
agents, consultants or other advisors (such as independent valuation firms, accountants and legal counsel), in monitoring financial
and legal affairs for the Company and in monitoring the Company’s investments and performing due diligence on its real estate
or prospective portfolio companies; interest payable on debt, if any, incurred to finance the Company’s investments; offerings
of the Company’s common or preferred stock and other securities; investment advisory and management fees; administration
fees, if any, payable under the existing administration agreement between the Company and Gladstone Administration, LLC (the “Administrator”),
dated January 1, 2007 (the “Administration Agreement”); fees payable to third parties, including agents,
consultants or other advisors, relating to, or associated with, evaluating and making investments; transfer agent and custodial
fees; federal and state registration fees; all costs of registration and listing the Company’s shares on any securities exchange;
federal, state and local taxes; independent Directors’ fees and expenses; costs of preparing and filing reports or other
documents required by the Securities and Exchange Commission; costs of any reports, proxy statements or other notices to stockholders,
including printing costs; the Company’s allocable portion of the fidelity bond, directors and officers and errors and omissions
liability insurance, and any other insurance premiums; direct costs and expenses of administration, including printing, mailing,
long distance telephone, copying, secretarial and other staff, independent auditors and outside legal costs; and all other expenses
incurred by the Company or the Administrator in connection with administering the Company’s business, including payments
under the Administration Agreement between the Company and the Administrator based upon the Company’s allocable portion of
the Administrator’s overhead in performing its obligations under the Administration Agreement, including rent and the allocable
portion of the cost of certain of the Company’s personnel, including, but not limited to, its chief compliance officer, treasurer,
chief financial officer, general counsel, secretary, chief valuation officer, and their respective staffs.

 

3. Compensation of the Adviser.

 

The Company agrees to pay, and the Adviser agrees
to accept, as compensation for the services provided by the Adviser hereunder, a base management fee (“Base Management
Fee”) and an incentive fee (“Incentive Fee”) as hereinafter set forth. The Company shall
make any payments due hereunder to the Adviser or to the Adviser’s designee as the Adviser may otherwise direct.

 

(a) Base Management Fee.

 

The Base Management Fee shall equal 1.50% (thus,
0.375% per quarter) of Total Equity (as defined below) per annum, which shall be calculated and payable quarterly in arrears in
cash. “Total Equity” shall equal: (i) total stockholders’ equity plus total mezzanine equity, as
reported on the Company’s balance sheet (“Reported Equity”) for the quarter, before the Base Management
Fee and Incentive Fee have been recorded, adjusted to exclude (ii) any unrealized gains and losses that have impacted Reported
Equity, and also adjusted to exclude (iii) any one-time events and certain non-cash items; provided that, with respect to subsection
(iii) each item shall be approved by the Company’s Compensation Committee. For the avoidance of doubt, the Total Equity as
defined in this Agreement, may be greater or less than the Reported Equity.

 

(b) Incentive Fee.

 

The Incentive Fee is an amount, not less than
zero, equal to the product of 15% and:

 

		(i)	the Company’s Core FFO (defined below) for the quarter, minus
	 	 	 
	

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		(ii)	the product of (A) 8.0% (thus, 2.0% per quarter) multiplied by (B) (i) the Reported Equity for
the quarter before the Incentive Fee has been recorded, adjusted to exclude (ii) any unrealized gains and losses that have impacted
Reported Equity, and also adjusted to exclude (iii) any one-time events and certain non-cash items, provided that with respect
to subsection (iii) each item shall be approved by the Company’s Compensation Committee

 

In the event that the calculation delineated
in Section 3(b) yields an Incentive Fee for a particular quarter that exceeds by greater than 15% the average quarterly Incentive
Fee paid during the trailing four quarters (averaged over the number of quarters any Incentive Fee was paid), then such Incentive
Fee shall equal 115% of such trailing average quarterly Incentive Fee.

 

(c) “Core FFO”, a
non- Generally Accepted Accounting Principles in the United States (“GAAP”) measure, shall be defined
as GAAP net income (loss) available to common stockholders, computed in accordance with GAAP, excluding the Incentive Fee, depreciation
and amortization, any realized and unrealized gains, losses or other non-cash items recorded in net income (loss) available to
common stockholders for the period, and one-time events pursuant to changes in GAAP.

 

(d) Capital Gain Fee.

 

The Capital Gain Fee is a capital gains-based
incentive fee that shall be determined and payable in arrears as of the end of each fiscal year (or, for an abbreviated time period
as of the effective date of any termination of this Agreement).  The Capital Gain Fee shall equal 15% of the aggregate realized
capital gains minus the aggregate realized capital losses for the applicable time period.  Realized capital gains and realized
capital losses are calculated by subtracting from the sales price of a property: (a) any costs incurred to sell such property,
and (b) the current gross value of the property (meaning the property’s original acquisition price plus any subsequent non-reimbursed
capital improvements thereon).  In the event that the aggregate realized capital gains exceed the aggregate realized capital
losses for the applicable time period, the Capital Gain Fee for such time period shall equal 15% of such positive amount; provided
that a Capital Gain Fee shall only be paid for an applicable time period to the extent that doing so would not violate any distribution
payment covenant in a then-existing line of credit to the Company.

 

4. Limitations on the Employment of the Adviser.

 

The services of the Adviser to the Company are
not exclusive, and the Adviser may engage in any other business or render similar or different services to others including, without
limitation, the direct or indirect sponsorship or management of other investment based accounts or commingled pools of capital,
however structured, having investment objectives similar to those of the Company, so long as its services to the Company hereunder
are not impaired thereby, and nothing in this Agreement shall limit or restrict the right of any manager, partner, officer or employee
of the Adviser to engage in any other business or to devote his or her time and attention in part to any other business, whether
of a similar or dissimilar nature, or to receive any fees or compensation in connection therewith (including fees for serving as
a director of, or providing consulting services to, one or more of the Company’s portfolio companies, subject to applicable
law). So long as this Agreement or any extension, renewal or amendment remains in effect, the Adviser shall be the only investment
adviser for the Company, subject to the Adviser’s right to enter into sub-advisory agreements. The Adviser assumes no responsibility
under this Agreement other than to render the services called for hereunder. It is understood that directors, officers, employees
and stockholders of the Company are or may become interested in the Adviser and its affiliates, as directors, officers, employees,
partners, stockholders, members, managers or otherwise, and that the Adviser and directors, officers, employees, partners, stockholders,
members and managers of the Adviser and its affiliates are or may become similarly interested in the Company as stockholders or
otherwise.

 

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5. Responsibility of Dual Directors, Officers or Employees.

 

If any person who is a manager, partner, officer
or employee of the Adviser or the Administrator is or becomes a director, officer or employee of the Company and acts as such in
any business of the Company, then such manager, partner, officer or employee of the Adviser or the Administrator shall be deemed
to be acting in such capacity solely for the Company, and not as a manager, partner, officer or employee of the Adviser or the
Administrator or under the control or direction of the Adviser or the Administrator, even if employed by the Adviser or the Administrator.

 

6. Limitation of Liability of the Adviser: Indemnification.

 

The Adviser (and its officers, managers, partners,
agents, employees, controlling persons, members and any other person or entity affiliated with the Adviser, including without limitation
the Administrator) shall not be liable to the Company for any action taken or omitted to be taken by the Adviser in connection
with the performance of any of its duties or obligations under this Agreement or otherwise as an investment adviser of the Company,
and the Company shall indemnify, defend and protect the Adviser (and its officers, managers, partners, agents, employees, controlling
persons, members and any other person or entity affiliated with the Adviser, including without limitation its general partner and
the Administrator, each of whom shall be deemed a third party beneficiary hereof) (collectively, the “Indemnified Parties”)
and hold them harmless from and against all damages, liabilities, costs and expenses (including reasonable attorneys’ fees
and amounts reasonably paid in settlement) incurred by the Indemnified Parties in or by reason of any pending, threatened or completed
action, suit, investigation or other proceeding (including an action or suit by or in the right of the Company or its security
holders) arising out of or otherwise based upon the performance of any of the Adviser’s duties or obligations under this
Agreement or otherwise as an investment adviser of the Company. Notwithstanding the preceding sentence of this Section 6 to
the contrary, nothing contained herein shall protect or be deemed to protect the Indemnified Parties against or entitle or be deemed
to entitle the Indemnified Parties to indemnification in respect of, any liability to the Company or its security holders to which
the Indemnified Parties would otherwise be subject by reason of willful misfeasance, bad faith or gross negligence in the performance
of the Adviser’s duties or by reason of the reckless disregard of the Adviser’s duties and obligations under this Agreement.

 

7. Termination of Agreement.

 

This Agreement may be terminated at any time
upon 120 days’ prior written notice, after the vote of at least two-thirds of the independent directors of the Company
for any reason (“Termination Without Cause”). In the event of Termination Without Cause, a termination
fee equal to two times the sum of the average annual Base Management Fee and Incentive Fee earned by the Adviser during the 24-month
period prior to the effective date of such termination (the “Termination Fee”).

 

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This Agreement may be terminated effective upon
30 days prior written notice by the vote of at least two-thirds of the independent directors of the Company without payment of
the Termination Fee if the termination is for Cause. “Cause” shall occur if (i) the Adviser breaches any material provision
of this Agreement and such breach shall continue for a period of 30 days after written notice thereof specifying such breach and
requesting that the same be remedied in the such 30-day period, (ii) there is a commencement of any proceeding relating to the
Adviser’s bankruptcy or insolvency, including an order for relief in an involuntary bankruptcy case or the Advisor authorizing
or filing a voluntary bankruptcy petition (iii) the Adviser dissolves, (iv) the Adviser commits fraud against the Company or misappropriates
or embezzles funds of the Company and in each case a court of competent jurisdiction enters a judgement against the Adviser; provided,
however, that if any of the actions or omissions described in this clause (iv) are caused by an employee, personnel and/or
officer of the Adviser and the Adviser commences action against such person to cure the damage caused by such actions or omissions
within 90 days of the Adviser’s actual knowledge of its commission or omission, the Company shall not have the right to terminate
this Agreement for Cause.

 

The Adviser may terminate this Agreement effective
upon 60 days prior written notice of termination to the Company in the event that the Company shall default in the performance
or observance of any material term, condition or covenant contained in this Agreement and such default shall continue for a period
of 30 days after written notice thereof specifying such default and requesting that the same be remedied in such 30-day period. 
The Company is required to pay to the Adviser the Termination Fee if the termination of this Agreement is made pursuant to this
paragraph.

 

The provisions of Section 6 of this Agreement
shall remain in full force and effect, and the Adviser and its representatives shall remain entitled to the benefits thereof, notwithstanding
any termination or expiration of this Agreement. Further, notwithstanding any termination or expiration of this Agreement as aforesaid,
the Adviser shall be entitled to any amounts owed under Section 3 through the effective date of termination or expiration.

 

8. Assignment.

 

This Agreement is not assignable or transferable
by either party hereto without the prior written consent of the other party.

 

9. Amendments.

 

This Agreement may be amended by mutual consent.

 

10. Notices.

 

Any notice under this Agreement shall be given
in writing, addressed and delivered or mailed, postage prepaid, to the other party at its principal office.

 

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11. Entire Agreement; Governing Law.

 

This Agreement contains the entire agreement
of the parties and supersedes all prior agreements, understandings and arrangements with respect to the subject matter hereof.
This Agreement shall be construed in accordance with the laws of the State of Delaware.

 

12. Effectiveness.

 

All fees and calculations contemplated hereunder
for the quarter ending September 30, 2016, shall be calculated as if this Agreement was effective as of July 1, 2016.

 

______________________________

 

In Witness Whereof, the parties hereto have caused this Agreement
to be duly executed on the date above written.

 

 

 

	Gladstone Commercial Corporation	 	 
	 	 	 
	By: 	/s/ Bob Cutlip	 	 
	Bob Cutlip	 	 
	President	 	 
	 	 	 
	 	 	 
	Gladstone Management Corporation	 	 
	 	 	 
	By: 	/s/ David Gladstone	 	 
	David Gladstone	 	 
	Chairman and Chief Executive Officer	 	 

 

 

 

 

 

 

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