Document:

FOURTH AMENDED AND RESTATED AGREEMENT

 

by and among

 

LIGHTSTONE VALUE PLUS REIT II LP,

 

LIGHTSTONE SLP II LLC

 

and

 

DAVID LICHTENSTEIN

 

This Fourth Amended and Restated Agreement
(this “Agreement”), by and among Lightstone Value Plus REIT II LP, a Delaware limited partnership (the “OP”),
Lightstone SLP II LLC, a Delaware limited liability company (the “Company”), and David Lichtenstein, in his
individual capacity, is dated August 2, 2012 and shall become effective on the effective date of the Registration Statement (as
defined below). On such date, this Agreement shall supersede and replace the Third Amendment (as defined below). Until such date,
the Third Amendment shall be effective in all respects.

 

WHEREAS, Lightstone Value Plus Real Estate
Investment Trust II, Inc., a Maryland corporation (the “REIT”) has filed a Registration Statement on Form S-11
(Registration No. 333-177753) (the “Registration Statement”) for a follow-on offering (the “Follow-On
Offering”) of up to 30,000,000 shares of REIT common stock (“Common Shares”) in a primary offering
at a price of $10.00 per share, subject to applicable volume discounts, and up to 2,500,000 Common Shares pursuant to the REIT’s
distribution reinvestment program at an initial price of $9.50 per share;

 

WHEREAS, the Company is majority owned by
The Lightstone Group, LLC (the “Sponsor”);

 

WHEREAS, the Sponsor is majority owned by
David Lichtenstein;

 

WHEREAS, the OP admitted the Company as an
associate general partner pursuant to an Agreement of Limited Partnership of Lightstone Value Plus REIT II LP, dated as of
April 30, 2008 (as amended to date, the “OP LPA”);  

 

WHEREAS, the parties entered into an agreement
dated June 5, 2008 (the “Original Agreement”), amended and restated the Original Agreement on October 6, 2008
(such amendment and restatement, the “First Amendment”), amended and restated the First Amendment on November
17, 2008 (such amendment and restatement, the “Second Amendment”) and amended and restated the Second Amendment
on January 30, 2009 (such amendment and restatement, the “Third Amendment”); and

 

WHEREAS, the parties hereto wish to amend
and restate the Third Amendment in its entirety.

 

    	 

    	 

    

 

NOW, THEREFORE, in consideration of the foregoing
and the mutual premises, covenants and agreements contained herein, the parties hereto, intending to be legally bound hereby, agree
as follows:

 

1. Agreement to Purchase and Issue Associate
General Partner Interests. Semiannually, until the earlier of: (a) the REIT selling all 30,000,000 Common Shares in the primary
offering of the Follow-On Offering; and (b) the termination of the Follow-On Offering; the Company agrees to contribute to the
OP, and David Lichtenstein agrees to fund the Company’s contribution of, cash or interests in real property of equivalent
value in the amount of $100,000 for each $1,000,000 in subscriptions for Common Shares that the REIT accepts. The Company understands
and agrees that if the Company elects to contribute interests in real property, a majority of the REIT’s board of directors
(including a majority of its independent directors) shall determine the value of such interests in real property based on an appraisal
obtained by a qualified independent real estate appraiser concerning the underlying real property. In consideration therefor, the
OP agrees to issue to the Company one Associate General Partner Interest (as such term is defined in the OP LPA) for each $100,000
in cash or interests in real property of equivalent value that the Company contributes.  

 

2. Termination of Advisory Agreement.
The OP agrees that in the event of the termination of the Advisory Agreement by and among the REIT, the OP and Lightstone Value
Plus REIT II LLC, a Delaware limited liability company, as amended to date, the Company may, in its sole discretion, (a) receive
cash in an amount equal to the cash and interests in real property that it contributed to the OP in exchange for Associate General
Partner Interests (with the value of interests in real property determined as of the time of contribution), or (b) retain the Associate
General Partner Interests.

 

3. Miscellaneous.

 

3.1   This Agreement may be amended
only by written instrument duly executed by the parties hereto.

 

3.2   This Agreement will be governed
by, and construed and enforced in accordance with, the laws of the State of New York, without regard to its choice of law rules.

 

3.3   This Agreement may be executed
in counterparts, each of which shall be deemed to be an original, but all of which, taken together, shall constitute one and the
same instrument.

 

3.4   If any term, provision, covenant
or restriction of this Agreement is held by a court of competent jurisdiction or a federal or state regulatory agency to be invalid,
void or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Agreement shall remain in full
force and effect and shall in no way be affected, impaired or invalidated.

 

[ Signature page follows. ]

 

    	 

    	 

    

 

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

 

	 	 /s/ David Lichtenstein
	 	
        David Lichtenstein,

        In his individual capacity

	 	 
	 	LIGHTSTONE VALUE PLUS REIT II LP  
	 	 
	 	By:   	
        Lightstone Value Plus Real Estate

        Investment Trust II, Inc., its General

        Partner  

 

	 	By:	 /s/ David Lichtenstein
	 	 	Name: David Lichtenstein  
	 	 	Title: Chief Executive Officer  

 

	 	LIGHTSTONE SLP II LLC
	 	 	 
	 	By:	 /s/ David Lichtenstein
	 	 	Name: David Lichtenstein
	 	 	Title: MemberThe following abbreviations, when used
in the inscription on the face of this certificate, shall be construed as though they were written out in full according to applicable
laws or regulations:

 

	TEN COM	–    as tenants in common	UNIF GIFT MIN ACT–________________Custodian____________
	 	 	                                                             (Cust)                                            (Minor)      
	TEN ENT	–    as tenants by the entireties	                                         under Uniform Gifts to Minors
	 	 	 
	JT TEN	–    as joint tenants with right of survivorship and not as tenants
    in common	
                                                 Act__________________________________

                                                 (State)

	 	 	 

Additional abbreviations may also be used though
not in the above list.

 

For value received,
____________________ hereby sell, assign and transfer unto

 

	PLEASE INSERT SOCIAL SECURITY OR OTHER	 
	IDENTIFYING NUMBER OF ASSIGNEE	 
	 	 
	 	 
	 	 
	 	 
	

PLEASE
PRINT OR TYPEWRITE NAME AND ADDRESS INCLUDING POSTAL ZIP CODE OF ASSIGNEE 

 

	 	 

 

	 	 

 

_______________________________________________________________________________________________Shares
of the Common Stock            represented by the within Certificate, and do hereby

 

irrevocably constitute and appoint ________________________________________________________________________

 

________________________________________________________________________________________________ 

 

Attorney

to transfer the said stock on the books of the within-named
Trust with full power of substitution in the premises. 

 

	Dated, ___________________ 	 	 	 
	 	 	NOTICE: 	SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND
    WITH THE NAME AS WRITTEN UPON THE FACE OF THE CERTIFICATE IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE
    WHATEVER.

 

SIGNATURE(S) GUARANTEED: 

 

	 	 
	THE
    SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND
    CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM), PURSUANT TO S.E.C. RULE 17Ad-15.WARRANT EXCHANGE AGREEMENT

 

This WARRANT EXCHANGE
AGREEMENT (this “Agreement”), dated as of August [ ], 2012, by and between Senesco Technologies, Inc., a
Delaware corporation (the “Company”), and [                                         ] (the “Holder”).

 

WHEREAS, the
Company issued those certain Common Stock Purchase Warrants to purchase shares of the Company’s common stock,
par value $0.01 per share (the “Common Stock”) issued by the Company, with an initial exercise date of
April 1, 2010 (the “2010 Warrants”);

 

WHEREAS, the
Holder owns that certain 2010 Warrant (the “Warrant”) to purchase [                                  (             )] shares of Common Stock (the “Warrant
Shares”);

 

WHEREAS, in
order to improve the capital structure of the Company, the Company and the Holder desire to enter into this Agreement, pursuant
to which, among other things, the Company and the Holder shall exchange the Warrant for the number shares of Common Stock (the
“Exchange Shares”), as calculated below;

 

WHEREAS, in
connection with the Exchange (as defined below), any holder that owns shares of the Company’s 10% Series A Convertible Preferred
Stock, par value $0.01 per share (the “Series A Preferred Stock”), shall also convert the balance of such shares
of Series A Preferred Stock into shares of Common Stock simultaneously with the Exchange;

 

WHEREAS, following
the Exchange, the Warrant shall be automatically cancelled and terminated and the Holder shall have no further rights pursuant
to the Warrant; and

 

WHEREAS, the
Exchange is being made in reliance upon the exemption from registration provided by Section 3(a)(9) of the Securities Act of 1933,
as amended (the “Securities Act”).

 

NOW, THEREFORE,
in consideration of the premises and mutual covenants herein below, and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties agree as follows:

 

1.                 
The Exchange. At the Closing (as defined below), the Company and the Holder shall, pursuant to Section 3(a)(9) of
the Securities Act, exchange the Warrant and the Exchange Shares, as follows (the “Exchange”):

 

1.1.                       
Closing. The Exchange shall occur remotely via exchange of signatures at [8]:00 a.m., New York time, on a business
day between August 1, 2012 and August 8, 2012 (or such later date as is mutually agreed to by the Company and the Holder) (the
“Closing”). For clarity, the Closing is not dependent upon the execution of similar Warrant Exchange Agreements
by other holders of 2010 Warrants.

 

    	 

    	 

    

 

1.2.           
Exchange Shares.

 

(a)               
The Holder shall receive the number of Exchange Shares equal to the product of (i) the number of Warrant Shares multiplied
by (ii) 0.35; provided, however, that if the Holder owns shares of the Company’s Series A Preferred Stock, such Holder shall
also deliver to the Company a Notice of Conversion (as such term is defined in the Certificate of Designation of Preferences, Rights
and Limitations of 10% Series A Convertible Preferred Stock (the “Certificate of Designations”)) electing to
convert the balance of shares of Series A Preferred Stock held by the Holder into shares of Common Stock pursuant to the terms
set forth in the Certificate of Designations, and the Holder shall receive the number of Exchange Shares equal to the product of
(a) the number of Warrant Shares multiplied by (b) 0.45.

 

(b)              
No fractional shares or scrip representing fractional shares shall be issued upon the Exchange. As to any fraction of a
share which the Holder would otherwise be entitled pursuant to the Exchange, the Company shall at its election, either pay a cash
adjustment in respect of such final fraction in an amount equal to such fraction multiplied by $0.35 or round up to the next whole
share.

 

1.3.           
Consideration. At the Closing, the Exchange Shares shall be issued to the Holder in exchange for the Warrant without
the payment of any other consideration by the Holder that would not be consistent with the application of Section 3(a)(9) of the
Securities Act to the issuance of the Exchange Shares. The Holder hereby agrees that, upon and subject to the Closing, all of the
Company’s obligations under the terms and conditions of the Warrant shall be automatically terminated and cancelled in full
without any further action required, and that this Section 1.3 shall constitute an instrument of termination and cancellation of
such Warrant.

 

1.4.           
Delivery. In the Exchange, the Company shall, at the Closing, cause American Stock Transfer & Trust Company (together
with any subsequent transfer agent, the “Transfer Agent”), through the Depository Trust Company (“DTC”)
Fast Automated Securities Transfer Program, to electronically credit the Exchange Shares to the Holder’s balance account
with DTC through its Deposit/Withdrawal at Custodian system using the information provided by the Holder on the signature page
attached hereto. The Holder shall deliver or cause to be delivered to the Company (or its designee), within five (5) Trading Days
after the Closing, the original Warrant. For the avoidance of doubt, as of the Closing all of the Holder’s rights under the
terms and conditions of the Warrant shall be extinguished.

 

1.5.           
Other Documents. The Company and the Holder shall execute and/or deliver such other documents and agreements as are
reasonably necessary to effectuate the Exchange pursuant to the terms of this Agreement.

 

2.                 
Representations and Warranties.

 

2.1.           
Holder Representations and Warranties. The Holder hereby represents and warrants to the Company:

 

(a)               
The Holder is either an individual or an entity validly existing and in good standing under the laws of the jurisdiction
of its organization.

 

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(b)              
This Agreement has been duly authorized, validly executed and delivered by the Holder and is a valid and binding agreement
and obligation of the Holder enforceable against the Holder in accordance with its terms, subject to limitations on enforcement
by general principles of equity and by bankruptcy or other laws affecting the enforcement of creditors’ rights generally,
and the Holder has full power and authority to execute and deliver this Agreement and the other agreements and documents referred
to in Section 1.5 and to perform its obligations hereunder and thereunder.

 

(c)               
The Holder understands that the Exchange Shares are being offered, sold, issued and delivered to it in reliance upon specific
provisions of federal and applicable state securities laws, and that the Company is relying upon the truth and accuracy of the
representations, warranties, agreements, acknowledgments and understandings of the Holder set forth herein for purposes of qualifying
for exemptions from registration under the Securities Act and applicable state securities laws.

 

(d)              
The Holder is not acquiring the Exchange Shares as a result of any advertisement, article, notice or other communication
regarding the Exchange Shares published in any newspaper, magazine or similar media or broadcast over television or radio or presented
at any seminar or any other general advertisement.

 

(e)               
The Holder, either alone or together with its representatives, has such knowledge, sophistication and experience in business
and financial matters so as to be capable of evaluating the merits and risks of the prospective investment in the Exchange Shares,
and has so evaluated the merits and risks of such investment. The Holder is able to bear the economic risk of an investment in
the Exchange Shares and, at the present time, is able to afford a complete loss of such investment.

 

(f)               
The Holder acknowledges that the offer, sale, issuance and delivery of the Exchange Shares to it is intended to be exempt
from registration under the Securities Act, by virtue of Section 3(a)(9) thereof. The Holder understands that the Exchange Shares
may be sold or transferred only in compliance with all federal and applicable state securities laws.

 

(g)              
The Holder owns and holds, beneficially and of record, the entire right, title, and interest in and to the Warrant free
and clear of all rights and Encumbrances (as defined below). The Holder has full power and authority to transfer and dispose of
the Warrant to the Company free and clear of any right or Encumbrance. Other than the transactions contemplated by this Agreement,
there is no outstanding vote, plan, pending proposal, or other right of any person to acquire all or any of the Warrant. As used
herein, “Encumbrances” shall mean any security or other property interest or right, claim, lien, pledge, option,
charge, security interest, contingent or conditional sale, or other title claim or retention agreement, interest or other right
or claim of third parties, whether perfected or not perfected, voluntarily incurred or arising by operation of law, and including
any agreement (other than this Agreement) to grant or submit to any of the foregoing in the future. The Warrant constitutes all
of the 2010 Warrants owned or held of record or beneficially owned or held by the Holder.

 

(h)              
The Holder is not, and has not been during the preceding three (3) months, an “affiliate” of the Company as
that term is defined in paragraph a(1) of Rule 144, promulgated under the Securities Act (“Rule 144”). The Holder
has held the Warrant for a period of at least one (1) year as computed in accordance with paragraph (d) of Rule 144.

 

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2.2.           
Company Representations and Warranties. The Company hereby represents and warrants to the Holder:

 

(a)               
The Company has been duly incorporated and is validly existing and in good standing under the laws of the State of Delaware,
with full corporate power and authority to own, lease and operate its properties and to conduct its business as currently conducted,
and is duly registered and qualified to conduct its business and is in good standing in each jurisdiction or place where the nature
of its properties or the conduct of its business requires such registration or qualification, except where the failure to so register
or qualify would not have a Material Adverse Effect. For purposes of this Agreement, “Material Adverse Effect”
shall mean any material adverse effect on the business, operations, properties, or financial condition of the Company and its subsidiaries
and/or any condition, circumstance, or situation that would prohibit or otherwise materially interfere with the ability of the
Company to perform any of its obligations under this Agreement.

 

(b)              
The Exchange Shares have been duly authorized by all necessary corporate action, and, when issued and delivered in accordance
with the terms hereof, the Exchange Shares shall be validly issued and outstanding, fully paid and nonassessable, free and clear
of all liens, encumbrances and rights of refusal of any kind.

 

(c)               
This Agreement has been duly authorized, validly executed and delivered on behalf of the Company and is a valid and binding
agreement and obligation of the Company enforceable against the Company in accordance with its terms, subject to limitations on
enforcement by general principles of equity and by bankruptcy or other laws affecting the enforcement of creditors’ rights
generally, and the Company has full power and authority to execute and deliver this Agreement and the other agreements and documents
contemplated hereby and to perform its obligations hereunder and thereunder.

 

(d)              
The Company represents that it has not paid, and shall not pay, any commissions or other remuneration, directly or indirectly,
to any third party for the solicitation of the Exchange pursuant to this Agreement. Other than the exchange of the Warrant, the
Company has not received and will not receive any consideration from the Holder for the Exchange Shares.

 

3.                 
Termination. In the event that the Closing does not occur on or before the close of business on August 8, 2012, the
Company shall have the option to terminate this Agreement without liability to the Holder.

 

4.                 
Miscellaneous.

 

4.1.           
Entire Agreement. This Agreement constitutes the entire agreement, and supersedes all other prior and contemporaneous
agreements and understandings, both oral and written, between the Holder and the Company with respect to the subject matter hereof.

 

4.2.           
Amendment. This Agreement may only be amended with the written consent of the Holder and the Company.

 

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4.3.           
Successors. All the covenants and provisions of this Agreement by or for the benefit of the Holder or the Company
shall bind and inure to the benefit of their respective successors and assigns.

 

4.4.           
Applicable Law; Consent to Jurisdiction. The validity, interpretation and performance of this Agreement shall be
governed in all respects by the laws of the State of Delaware, without giving effect to conflicts of law principles that would
result in the application of the substantive laws of another jurisdiction. Each of the parties hereby agrees that any action, proceeding
or claim against it arising out of or relating in any way to this Agreement shall be brought and enforced in the courts of the
State of Delaware or the United States District Court for the District of Delaware, and irrevocably submits to such jurisdiction,
which jurisdiction shall be exclusive. Each party hereby waives any objection to such exclusive jurisdiction and that such courts
represent an inconvenient forum.

 

4.5.           
Counterparts. This Agreement may be executed in original or facsimile counterparts, each of such counterparts shall
for all purposes be deemed to be an original, and all of such counterparts shall together constitute but one and the same instrument.

 

4.6.           
Severability. Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective
and valid under applicable law, but if any provision of this Agreement is held to be prohibited by or invalid under applicable
law, such provision shall be ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder
of this Agreement.

 

4.7.           
No Commissions. Neither the Company nor the Holder has paid or given, or will pay or give, to any person, any commission,
fee or other remuneration, directly or indirectly, in connection with the transactions contemplated by this Agreement.

 

* * * * * * *

 

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IN WITNESS WHEREOF,
this Warrant Exchange Agreement has been duly executed by the parties hereto as of the date first written above.

 

	 	SENESCO
TECHNOLOGIES, INC.

By:____________________________

Name:

Title:

 

HOLDER:

 

_______________________________

 

 

By:____________________________

Name:

Title:

 

DWAC
INSTRUCTIONS

Broker
no:                                                      

Account no:                                                  

 

 

[Signature
Page to the April 2010 Warrant Exchange Agreement]

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