Document:

Exhibit 10.1

 

Severance Compensation Agreement between Wellesley Bank and
Michael W. Dvorak

 

The purpose of this letter is to document the term of the severance
compensation agreement at Wellesley bank (The “Bank”) that have been discussed with you. These terms supersede any
prior agreement, whether oral or written, with the bank.

 

Effective June 20, 2016, your title will be Executive Vice President,
Chief Financial Officer. In this position, you are eligible for the severance compensation on the following terms.

 

Termination without cause absent a change of control. The bank
will continue your base salary (at the rate then in effect) for eighteen (18) months and continue to pay the bank’s share
of your health insurance premiums if you elect COBRA health care continuation coverage.

 

Termination without cause or voluntary termination if you are
not offered a comparable position within 12 months of a change in control. The Bank will continue your base salary) at the rate
then in effect) for eighteen (18) months and continue to pay the Bank’s share of your health insurance premiums if you elect
COBRA health care continuation coverage.

 

General Release. As a condition to your receipt of any severance
benefit, you will be required to execute a release in a from satisfactory to the bank.

 

For purposes of this letter agreement, the terms “cause”,
“change in control” and “comparable position” shall have the same meaning as under the Wellesley Bank Employee
Severance Compensation Plan dated January 25, 2012 (the “Plan”). A copy of the Plan is attached for your reference.
If you terminate employment in circumstances not expressly covered by this letter agreement, you will not be eligible for severance.

 

To confirm our agreement with the foregoing, please sign a copy
of this letter and return it to my attention

 

Should you have any questions, please call me at your convenience.

 

	Date: May 23, 2016	/s/ Maureen Sullivan
	 	EVP, Chief Marketing and
	 	Human Resources Officer
	 	 
	 	Accepted:
	 	/s/ Michael W. DvorakExhibit

Exhibit 10.1
JOINDER AGREEMENT
(Master Credit Facility)
THIS JOINDER AGREEMENT (“Joinder Agreement”) is executed as of August 4, 2016, by DC-3300 ESSEX, LLC (“Joining Party”) and delivered to KeyBank National Association, as Agent, pursuant to §5.4 of the Second Amended and Restated Credit Agreement dated as of May 28, 2014, as amended by that certain First Amendment to Second Amended and Restated Credit Agreement and Amendment to Other Loan Documents dated as of August 21, 2015, as from time to time in effect (as the same has been and may be further varied, extended, supplemented, consolidated, amended, replaced, increased, renewed or modified or restated from time to time, the “Credit Agreement”), by and among Carter/Validus Operating Partnership, LP (the “Borrower”), KeyBank National Association, for itself and as Agent, and the other Lenders from time to time party thereto.  Terms used but not defined in this Joinder Agreement shall have the meanings defined for those terms in the Credit Agreement.
RECITALS
A.    Joining Party is required, pursuant to §5.4 of the Credit Agreement, to become an additional Subsidiary Guarantor under the Guaranty and the Contribution Agreement.
B.    Joining Party expects to realize direct and indirect benefits as a result of the availability to the Borrower of the credit facilities under the Credit Agreement.
NOW, THEREFORE, Joining Party agrees as follows:
AGREEMENT
1.Joinder.  By this Joinder Agreement, Joining Party hereby becomes a “Subsidiary Guarantor” and a “Guarantor” under the Credit Agreement, the Guaranty and the other Loan Documents with respect to all the Obligations of the Borrower now or hereafter incurred under the Credit Agreement and the other Loan Documents, and a “Subsidiary Guarantor” under the Contribution Agreement.  Joining Party agrees that Joining Party is and shall be bound by, and hereby assumes, all representations, warranties, covenants, terms, conditions, duties and waivers applicable to a “Subsidiary Guarantor” and a “Guarantor” under the Credit Agreement, the other Loan Documents and the Contribution Agreement.
2.Representations and Warranties of Joining Party.  Joining Party represents and warrants to Agent that, as of the Effective Date (as defined below), except as disclosed in writing by Joining Party to Agent on or prior to the date hereof and approved by the Agent in writing (which disclosures shall be deemed to amend the Schedules and other disclosures delivered as contemplated in the Credit Agreement), the representations and warranties contained in the Credit Agreement and the other Loan Documents applicable to a “Guarantor” or “Subsidiary Guarantor” are true and correct in all material respects as applied to Joining Party as a Subsidiary Guarantor and a Guarantor on and as of the Effective Date as though made on that date.  As of the Effective Date, all covenants and agreements in the Loan Documents and the Contribution Agreement of the Subsidiary Guarantors apply to Joining Party and no Default or Event of Default shall exist or might exist upon the Effective Date in the event that Joining Party becomes a Subsidiary Guarantor.

3.Joint and Several.  Joining Party hereby agrees that, as of the Effective Date, the Guaranty and the Contribution Agreement heretofore delivered to the Agent and the Lenders shall be a joint and several obligation of Joining Party to the same extent as if executed and delivered by Joining Party, and upon request by Agent, will promptly become a party to the Guaranty and the Contribution Agreement to confirm such obligation.
4.Further Assurances.  Joining Party agrees to execute and deliver such other instruments and documents and take such other action, as the Agent may reasonably request, in connection with the transactions contemplated by this Joinder Agreement.
5.GOVERNING LAW.  THIS AGREEMENT SHALL BE DEEMED TO BE A CONTRACTUAL OBLIGATION UNDER, AND SHALL, PURSUANT TO NEW YORK GENERAL OBLIGATIONS LAW SECTION 5-1401, BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.
6.Counterparts.  This Joinder Agreement may be executed in any number of counterparts which shall together constitute but one and the same agreement.
7.The effective date (the “Effective Date”) of this Joinder Agreement is August 4, 2016.

2

IN WITNESS WHEREOF, Joining Party has executed this Joinder Agreement under seal as of the day and year first above written.
	
								
	 
	 
	"JOINING PARTY"

	 
	 
	 
	 
	 
	 
	 
	 

	 
	 
	DC-3300 ESSEX, LLC, a Delaware limited liability company

	 
	 
	 
	 
	 
	 
	 
	 

	 
	 
	By:
	 
	Carter/Validus Operating Partnership, LP, a Delaware limited partnership, its sole member

	 
	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	By:
	Carter Validus Mission Critical REIT, Inc., a Maryland corporation, its General Partner

	 
	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	By:
	/s/ Lisa Collado

	 
	 
	 
	 
	 
	Name:
	Lisa Collado

	 
	 
	 
	 
	 
	Title:
	Authorized Agent

	 
	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	[SEAL]

ACKNOWLEDGED:
KEYBANK NATIONAL ASSOCIATION, 
as Agent
By: /s/ Kristin Centracchio           
Name: Kristin Centracchio           
Its: Vice President                         

3Exhibit

Exhibit 10.2
JOINDER AGREEMENT
(Term Loan)
THIS JOINDER AGREEMENT (“Joinder Agreement”) is executed as of August 4, 2016, by DC-3300 ESSEX, LLC, a Delaware limited liability company (“Joining Party”) and delivered to KeyBank National Association, as Agent, pursuant to §5.4 of the Term Loan Agreement dated as of August 21, 2015, as from time to time in effect (as the same has been and may be further varied, extended, supplemented, consolidated, amended, replaced, increased, renewed or modified or restated from time to time, the “Credit Agreement”), by and among Carter/Validus Operating Partnership, LP (the “Borrower”), KeyBank National Association, for itself and as Agent, the other Lenders from time to time party thereto, and certain other parties thereto.  Terms used but not defined in this Joinder Agreement shall have the meanings defined for those terms in the Credit Agreement.
RECITALS
A.    Joining Party is required, pursuant to §5.4 of the Credit Agreement, to become an additional Subsidiary Guarantor under the Guaranty and the Contribution Agreement.
B.    Joining Party expects to realize direct and indirect benefits as a result of the availability to the Borrower of the credit facilities under the Credit Agreement.
NOW, THEREFORE, Joining Party agrees as follows:
AGREEMENT
1.Joinder.  By this Joinder Agreement, Joining Party hereby becomes a “Subsidiary Guarantor” and a “Guarantor” under the Credit Agreement, the Guaranty and the other Loan Documents with respect to all the Obligations of the Borrower now or hereafter incurred under the Credit Agreement and the other Loan Documents, and a “Subsidiary Guarantor” under the Contribution Agreement.  Joining Party agrees that Joining Party is and shall be bound by, and hereby assumes, all representations, warranties, covenants, terms, conditions, duties and waivers applicable to a “Subsidiary Guarantor” and a “Guarantor” under the Credit Agreement, the other Loan Documents and the Contribution Agreement.
2.Representations and Warranties of Joining Party.  Joining Party represents and warrants to Agent that, as of the Effective Date (as defined below), except as disclosed in writing by Joining Party to Agent on or prior to the date hereof and approved by the Agent in writing (which disclosures shall be deemed to amend the Schedules and other disclosures delivered as contemplated in the Credit Agreement), the representations and warranties contained in the Credit Agreement and the other Loan Documents applicable to a “Guarantor” or “Subsidiary Guarantor” are true and correct in all material respects as applied to Joining Party as a Subsidiary Guarantor and a Guarantor on and as of the Effective Date as though made on that date.  As of the Effective Date, all covenants and agreements in the Loan Documents and the Contribution Agreement of the Subsidiary Guarantors apply to Joining Party and no Default or Event of Default shall exist or might exist upon the Effective Date in the event that Joining Party becomes a Subsidiary Guarantor.

3.Joint and Several.  Joining Party hereby agrees that, as of the Effective Date, the Guaranty and the Contribution Agreement heretofore delivered to the Agent and the Lenders shall be a joint and several obligation of Joining Party to the same extent as if executed and delivered by Joining Party, and upon request by Agent, will promptly become a party to the Guaranty and the Contribution Agreement to confirm such obligation.
4.Further Assurances.  Joining Party agrees to execute and deliver such other instruments and documents and take such other action, as the Agent may reasonably request, in connection with the transactions contemplated by this Joinder Agreement.
5.GOVERNING LAW.  THIS AGREEMENT SHALL BE DEEMED TO BE A CONTRACTUAL OBLIGATION UNDER, AND SHALL, PURSUANT TO NEW YORK GENERAL OBLIGATIONS LAW SECTION 5-1401, BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.
6.Counterparts.  This Joinder Agreement may be executed in any number of counterparts which shall together constitute but one and the same agreement.
7.The effective date (the “Effective Date”) of this Joinder Agreement is August 4, 2016.

2

IN WITNESS WHEREOF, Joining Party has executed this Joinder Agreement under seal as of the day and year first above written.
	
								
	 
	 
	"JOINING PARTY"

	 
	 
	 
	 
	 
	 
	 
	 

	 
	 
	DC-3300 ESSEX, LLC, a Delaware limited liability company

	 
	 
	 
	 
	 
	 
	 
	 

	 
	 
	By:
	 
	Carter/Validus Operating Partnership, LP, a Delaware limited partnership, its sole member

	 
	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	By:
	Carter Validus Mission Critical REIT, Inc., a Maryland corporation, its General Partner

	 
	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	By:
	/s/ Lisa Collado

	 
	 
	 
	 
	 
	Name:
	Lisa Collado

	 
	 
	 
	 
	 
	Title:
	Authorized Agent

	 
	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	[SEAL]

ACKNOWLEDGED:
KEYBANK NATIONAL ASSOCIATION, 
as Agent
By: /s/ Kristin Centracchio             
Name: Kristin Centracchio             
Its: Vice President                           

3

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