Document:

EX-10.2

LIMITED GUARANTEE

This LIMITED GUARANTEE is dated as of the 8th day of April, 2009 (this “Guarantee”) by
SCM Microsystems, Inc., a Delaware corporation (“Guarantor”), in favor of Secure Keyboards,
Ltd., a California limited partnership (“Keyboards”), and Secure Networks, Ltd., a
California limited partnership (“Networks” and, together with Keyboards, the
“Guaranteed Parties” and, each of them, a “Guaranteed Party”).

1. Guarantee. In connection with the entry into (a) that certain Settlement Agreement
dated as of the date hereof, a copy of which is attached hereto as Exhibit A (the “2009
Settlement Agreement”), by and among Keyboards, Networks, Luis Villalobos, an individual,
Howard B. Miller, an individual, Lawrence W. Midland, an individual, Robert J. Parsons, an
individual, Hirsch Electronics Corporation, a California corporation (“Hirsch”), Felix
Marx, an individual, and Guarantor, and (b) that certain Amended and Restated Settlement Agreement
dated as of the date hereof, a copy of which is attached hereto as Exhibit B (the
“Amendment and Restatement”), by and among Keyboards, Networks and Hirsch, Guarantor hereby
unconditionally guarantees to each of Keyboards and Networks, on the terms and conditions set forth
herein, the payment when due by Hirsch of the Periodic Payments (as such term is defined in the
Amendment and Restatement) under and in accordance with the terms and conditions of the Amendment
and Restatement (the “Obligation”). Prior to taking any action to enforce this Guarantee
against Guarantor, a Guaranteed Party shall first deliver a written notice to Hirsch at the address
set forth in Section 6(a) of the Amendment and Restatement, with a copy to Guarantor, with such
written notice setting forth (i) the alleged event of default of the Obligation by Hirsch, and (ii)
the amount, if any, being demanded. A Guaranteed Party shall allow Hirsch at least ten (10)
Business Days from delivery of the written notice to cure any such default (such period, the
“Notice Period”). If Hirsch fails to cure such default within the Notice Period, a
Guaranteed Party shall provide at least five (5) Business Days written notice to Guarantor of the
intent of the Guaranteed Party to take any such action to enforce its rights under this Guarantee
(such period, the “Additional Notice Period”) and, if the Guarantor fails to cure such
default within the Additional Notice Period, the Guaranteed Party may thereafter take any action to
which it is entitled to enforce its rights under this Guarantee. The obligations of Guarantor
under this Guarantee at any time may be satisfied by either the direct payment of the amount then
due by Guarantor to Keyboards and Networks, as the case may be, pursuant to the terms of the
Amendment and Restatement, or by causing Hirsch to make such payments. In no event shall this
Guarantee be construed to impose upon Guarantor any obligations greater than, in addition to, or
other than, the obligations expressly assumed by Guarantor hereunder. In addition, nothing herein
shall limit the ability of Guarantor to assert any defense or right of set-off, deduction or
counterclaim that Hirsch is entitled to assert in connection with the Obligation. This Guarantee
is subject to the continued effectiveness and performance by Keyboards and Networks and each of
their respective general partners of the 2009 Settlement Agreement and Amendment and Restatement,
and shall not be effective, and this Guarantee may not be enforced against Guarantor, until, and
not before, the later of (i) the Effective Time (as such term is defined in the Agreement and Plan
of Merger, dated December 10, 2008, by and among Guarantor, Hirsch, and two wholly-owned
subsidiaries of Guarantor (the “Merger Agreement”)) and (ii) the effectiveness of the
Obligations of Hirsch under the Amendment and Restatement.

2. No Assignment. Neither Guarantor, nor the Guaranteed Parties, may assign any of
their respective rights, interests or obligations hereunder to any other person (except by
operation of law) without the prior written consent of the Guaranteed Parties (in the case of an
assignment by Guarantor) or Guarantor (in the case of an assignment by the Guaranteed Parties);
provided, however, that Guarantor may assign all or a portion of its obligations
hereunder to an affiliate of Guarantor, provided, that no such transfer shall relieve
Guarantor of any liability or obligation hereunder except to the extent actually performed or
satisfied by the assignee.

3. Notices. All notices and other communications hereunder shall be in writing and
shall be deemed duly given (a) on the date of delivery if delivered personally, or if delivered by
facsimile, upon written confirmation of receipt by facsimile; (b) on the first (1st) Business Day
following the date of dispatch if delivered utilizing a next-day service by a recognized next-day
courier under circumstances in which such courier guarantees next-day delivery (except in the case
of overseas delivery, in which case notice shall be deemed duly given on the fourth (4th) Business
Day following the date of dispatch if delivered utilizing an expedited service by a recognized
international courier under circumstances in which such courier guarantees such delivery); or
(c) on the earlier of confirmed receipt or the fifth (5th) Business Day following the date of
mailing if delivered by registered or certified mail, return receipt requested, postage prepaid
(except in the case of overseas delivery, in which case notice shall be deemed duly given on
confirmed receipt if delivered by registered or certified mail, return receipt requested, postage
prepaid). As used herein, “Business Day” means any day that is not a Saturday, Sunday, or
other day on which national banks or banks in Santa Ana, California or Germany are authorized or
required to close. All notices hereunder shall be delivered to the addresses set forth below, or
pursuant to such other instructions as may be designated in writing by the party to receive such
notice. In addition, when giving any notice hereunder, a party shall also send a courtesy copy of
such notice via e-mail to the party(ies) to receive such notice at the e-mail addresses set forth
below; provided, however, that the failure to send, or the recipient’s failure to
receive, such courtesy copy via e-mail shall not invalidate or otherwise adversely effect in any
way the validity of such notice hereunder:

if to Guarantor, to it at:

SCM Microsystems, Inc.

Oskar-Messter-Straße 13,

85737, Ismaning Germany

Attention: Felix Marx

Fax: +49.89.9595.5170

E-mail: FMarx@scmmicro.de

with a copy (which shall not constitute notice) to:

Gibson, Dunn & Crutcher LLP

555 Mission Street, Suite 3000

San Francisco, California 94105

Attention: Michael L. Reed

Fax: 415.374.8459

E-mail: MReed@gibsondunn.com

if to Keyboards, to it at:

Secure Keyboards, Ltd.

c/o Robert J. Parsons

110 Newport Center Drive

Suite 200

Newport Beach, CA 92660

Fax: 949.729.3196

E-mail: parsons600@aol.com

with copies (which shall not constitute notice) to:

Lawrence W. Midland

1805 Jamaica Road

Costa Mesa, CA 92626

Fax: 949.250.7372

E-mail: lmidland@hirschelectronics.com

Howard Miller

13555 Bayliss Road

Los Angeles, CA 90049

Fax: 213.481.1554

E-mail: hmiller@girardikeese.com

Luis Villalobos

4220 Park Newport, #410

Newport Beach, CA 92660

Fax: N/A

E-mail: luvil@roadrunner.com

if to Networks, to it at:

Secure Networks, Ltd.

c/o Robert J. Parsons

110 Newport Center Drive

Suite 200

Newport Beach, CA 92660

Fax: 949.729.3196

E-mail: parsons600@aol.com

with a copy (which shall not constitute notice) to:

Lawrence W. Midland

1805 Jamaica Road

Costa Mesa, CA 92626

Fax: 949.250.7372

E-mail: lmidland@hirschelectronics.com

4. Survival of Guarantee. This Guarantee shall survive and remain in full force and
effect and be binding on Guarantor only for the period of Hirsch’s obligations set forth in Section
2 of the Amendment and Restatement or until the Obligation is paid or satisfied in full, at which
time this Guarantee shall terminate and Guarantor shall have no further obligation to Keyboards or
Networks or any other person under this Guarantee.

5. Governing Law. This Guarantee and all disputes or controversies arising out of or
relating to this Guarantee or the transactions contemplated hereby shall be governed by, and
construed in accordance with, the internal laws of the State of California, without regard to the
laws of any other jurisdiction that might be applied because of the conflicts of laws principles of
the State of California.

6. Entire Agreement. This Guarantee constitutes the entire agreement between the
parties to this agreement with respect to the subject matter hereof and supersedes all prior
agreements, whether written or oral, with respect to the subject matter contained in this
Guarantee. This Guarantee and any provision hereof may only be amended by an instrument in writing
signed by Guarantor, Keyboards and Networks.

7. Counterparts. This Guarantee may be executed in two or more counterparts, all of
which shall be considered one and the same instrument and shall become effective when one or more
counterparts have been signed by each of the parties and delivered to the other party. Facsimile
and .pdf copies of this Guarantee shall have the same force and effect as an original.

8. No Presumption Against Drafting Party. Each of the parties hereto acknowledges
that it has been represented by counsel in connection with this Guarantee and the transactions
contemplated by this Guarantee. Accordingly, any rule of law or any legal decision that would
require interpretation of any claimed ambiguities in this Guarantee against the drafting party has
no application and is expressly waived.

[The remainder of this page is intentionally left blank.]

IN WITNESS WHEREOF, each of Guarantor, Keyboards and Networks have caused this Limited
Guarantee to be executed as of the date first written above by its officer thereunto duly
authorized.

SCM MICROSYSTEMS, INC.

By: /s/ Dr. Manfred Mueller

Dr. Manfred Mueller

Executive Vice President Strategic Sales &

Business Development

Accepted and Agreed to:

	 
	SECURE NETWORKS, LTD.

	A California limited partnership

By: /s/ Robert J. Parsons

	 

	Robert J. Parsons,

Managing and General Partner

	By: /s/ Lawrence W. Midland

	 

	Lawrence W. Midland,

General Partner

	SECURE KEYBOARDS, LTD.

A California limited partnership

By: /s/ Robert J. Parsons

	 

	Robert J. Parsons,

Managing and General Partner

	By: /s/ Lawrence W. Midland

	 

	Lawrence W. Midland,

General Partner

	By: /s/ Howard Miller

	 

	Howard Miller,

General Partner

	By: /s/ Luis Villalobos

	 

	Luis Villalobos,

General Partner

Exhibit A

2009 Settlement Agreement

SETTLEMENT AGREEMENT

This Settlement Agreement (the “Settlement Agreement”) is hereby entered into this 8th
day of April, 2009 (the “Effective Date”) between and among Secure Keyboards, Ltd., a
California Limited Partnership (“Secure Keyboards”); Secure Networks, Ltd., a California
Limited Partnership (“Secure Networks”); Luis Villalobos, an individual
(“Villalobos”); Howard B. Miller, an individual (“Miller”); Lawrence W. Midland, an
individual (“Midland”); Robert J. Parsons, an individual (“Parsons”); Hirsch
Electronics Corporation, a California corporation (“Hirsch”); SCM Microsystems, Inc., a
Delaware corporation (“SCM”); and Felix Marx, an individual (“Marx”) (each a
“Party” and collectively the “Parties”). Secure Keyboards, Villalobos and Miller
are also sometimes collectively referred to herein as “Plaintiffs,” and each as a
“Plaintiff.” SCM, Hirsch and Marx are also sometimes collectively referred to herein as
“Defendants,” and each as a “Defendant.”

RECITALS

WHEREAS, on November 14, 1994, Hirsch, Secure Keyboards and Secure Networks entered into a
settlement agreement (the “1994 Settlement Agreement”), whereby Hirsch agreed to make
certain payments to Secure Keyboards and Secure Networks, as set forth in the 1994 Settlement
Agreement; and

WHEREAS, on December 10, 2008, SCM, Hirsch and two-wholly-owned subsidiaries of SCM entered
into an Agreement and Plan of Merger (the “Merger Agreement”), pursuant to which Hirsch
will become a new Delaware limited liability company and a wholly-owned subsidiary of SCM through a
two-step merger (the “Merger”); and

WHEREAS, in connection with or as a result of the Merger and the other transactions
contemplated by the Merger Agreement, SCM, Hirsch, certain subsidiaries of Hirsch and/or certain
officers, directors and shareholders of Hirsch and/or its subsidiaries entered into or will enter
into Ancillary Agreements (as defined in the Merger Agreement) and certain other agreements and
understandings and deliver or will deliver certain certificates, documents or other instruments
(any and all such Ancillary Agreements, agreements, certificates, documents or other instruments
together, the “Merger Documents”); and

WHEREAS, on December 10, 2008, Parsons and Midland, as two of the four general partners of
Secure Keyboards, delivered a letter of understanding to SCM, as such letter was amended and
restated on January 30, 2009 (the “Keyboards Letter of Understanding”), which letter was
intended to clarify the interpretation of the 1994 Settlement Agreement following the Merger; and

WHEREAS, the obligation of SCM to complete the Merger is subject to Miller’s and Villalobos’s
agreement to become parties to and be bound by the Keyboards Letter of Understanding and to consent
to the Merger; and

WHEREAS, Miller and Villalobos objected to, and indicated that they will not become parties to
and be bound by, the Keyboards Letter of Understanding; and

WHEREAS, a dispute has arisen among the Parties regarding what the revenue base subject to the
royalty arrangement under the 1994 Settlement Agreement would be following the Merger; and

WHEREAS, on March 18, 2009, Plaintiffs commenced an action against Defendants in the Superior
Court of the State of California in and for the County of Los Angeles entitled Secure
Keyboards, Ltd., Luis Villalobos, and Howard B. Miller v. SCM Microsystems, Inc., Felix Marx, and
Hirsch Electronics, Corporation, et al., Case No. SC102226 (the “Action”); and

WHEREAS, the Complaint filed in the Action (the “Complaint”) asserts a cause of action
against Hirsch for alleged breach of the 1994 Settlement Agreement, and causes of action against
SCM and Marx for alleged interference with the 1994 Settlement Agreement and the relationship
between Hirsch and Secure Keyboards; and

WHEREAS the summons and Complaint in the Action have not been served on any Defendant, but
Defendants nonetheless dispute all of the allegations set forth in the Complaint; and

WHEREAS, the Parties have independently concluded, with the benefit of advice of counsel, that
their respective self-interests would be best served by compromising, settling, and concluding all
disputes currently or potentially existing between them, including but not limited to all disputes
alleged or referred to in the Action, by entering into this Settlement Agreement and the releases
contained herein, and by ultimately dismissing the Action with prejudice, all on the terms and
conditions hereinafter set forth.

AGREEMENT

NOW, THEREFORE, the undersigned Parties to this Settlement Agreement hereby agree, for good
and valuable consideration, receipt of which is hereby acknowledged, as follows:

1. Incorporation of Recitals. The above Recitals are incorporated herein by
reference.

2. Settlement Terms.

(a) Dismissal of the Action without Prejudice. Within five (5) calendar days after
the Effective Date, Plaintiffs shall cause the Action to be dismissed without prejudice in its
entirety, and in no event shall Plaintiffs cause the Complaint to be served on any Defendant.

(b) Dismissal of the Action with Prejudice. Within five (5) calendar days after the
“Effective Time,” as such term is defined in the Merger Agreement, Plaintiffs shall cause
the Action to be dismissed with prejudice in its entirety, and in no event shall Plaintiffs cause
the Complaint to be served on any Defendant.

(c) Amendment and Restatement of the 1994 Settlement Agreement. Upon entry into this
Settlement Agreement, Secure Keyboards, Secure Networks, Villalobos, Miller, Midland, Parsons and
Hirsch shall execute an Amended and Restated 1994 Settlement Agreement (the “Amendment and
Restatement”), in substantially the form attached hereto as Exhibit A. The Amendment
and Restatement shall become effective and binding on the Effective Date hereof, provided
that sections 2 and 3 thereof shall not become effective until the Effective Time;
provided, further, that in the event of the termination of the Merger Agreement
prior to the Effective Time, the Amendment and Restatement shall be null and void.

(d) Presence in California Insufficient to Create Personal Jurisdiction. No Party
shall at any time attempt to construe, offer or use the presence in the State of California, at any
time and for any purpose whatsoever, of SCM or Marx or any of their respective Associates (as
defined below), as a basis for asserting that any federal, state or local court within the State of
California has or may exercise personal jurisdiction over Marx or any of his Associates.

(e) Guaranty of Periodic Payments Under Amendment and Restatement. Upon entry into
this Settlement Agreement and the execution of the Amendment and Restatement, SCM shall enter into
a Limited Guarantee of the payment obligations of Hirsch under the Amendment and Restatement in
substantially the form attached hereto as Exhibit B. The Limited Guarantee shall not
become effective until the Effective Time.

(f) Waiver of Closing Condition. Upon the entry into this Settlement Agreement and
the execution of the Amendment and Restatement, SCM shall execute and deliver to Hirsch a written
waiver to the closing conditions to the Merger set forth on Schedule 7.3(c) of the Merger Agreement
(other than the consent of the landlord), subject to the continued effectiveness and performance by
Keyboards and Networks and each of their respective general partners and Hirsch of this Settlement
Agreement and the Amendment and Restatement, with such waiver to become effective immediately prior
to the Effective Time of the Merger.

(g) Tolling of Statute of Limitations. In the event this Settlement Agreement is
terminated prior to the Effective Time and the releases in Section 8 do not become effective, and
only in that event, the Parties agree that the statute of limitations for any claims previously
alleged in the Action is tolled for the period between the original filing date of the Action and
the date of any termination of this Settlement Agreement.

3. No Admission of Fault or Liability. This Settlement Agreement is a compromise of
disputed claims, and nothing contained in this Settlement Agreement shall be construed to be an
admission of fault or liability on the part of any Party hereto, all such fault or liability being
expressly denied by each and every Party hereto.

4. No Assignment of Claims. Each Party represents and warrants to the other Parties
that it has not hypothecated or otherwise encumbered or assigned any claim or cause of action
released herein arising out of, from, or in connection with the Action, or any other matter which
is being released as part of this Settlement Agreement.

5. No Other Legal Proceedings. Each Party represents and warrants to the other
Parties that no legal proceeding other than the Complaint in the Action has been filed by it
against any other Party in any forum arising out of, from, or in connection with any of the matters
underlying the Action.

6. Authority to Enter Into Settlement Agreement. Each Party represents and warrants
to the other Parties that it has the power and authority to enter into, execute, deliver and
perform this Settlement Agreement, and that there are no other persons or entities whose consent to
this Settlement Agreement or whose joinder herein is necessary to make effective the provisions of
this Settlement Agreement.

7. Reliance on Independent Legal Advice. Each Party represents and warrants to the
other Parties:

(a) That it has received advice from his or its own respective, independent legal counsel
prior to its execution of this Settlement Agreement;

(b) That the legal nature and effect of this Settlement Agreement has been explained to it by
its respective counsel;

(c) That it fully understands the terms and provisions of this Settlement Agreement and the
nature and effect thereof;

(d) That it is relying solely on the advice of its own legal counsel in executing this
Settlement Agreement;

(e) That it has not relied upon any representation or statement of any other Party or counsel
for any other Party not contained in this Settlement Agreement;

(f) That it has carefully read this Settlement Agreement, knows the contents thereof, and is
executing the same freely and voluntarily; and

(g) That it is aware that it or its respective attorneys may hereafter discover facts
different from or in addition to the facts that they now know or believe to be true with respect to
the matters underlying the Action, but that its intention is to fully and finally release the
claims released herein to the full extent of the releases contained in this Settlement Agreement.

8. Releases of Claims and Waivers of Cal. Civ. Code § 1542.

(a) SCM Releasors’ Release of Secure Releasees. Upon the Effective Time, SCM and
Marx, on behalf of themselves and each of their respective Associates (which for the avoidance of
any doubt, does not include Hirsch or Midland or any person or entity claiming through either of
them) (collectively, the “SCM Releasors”), do hereby remise, release, waive, acquit, and
forever discharge Secure Keyboards, Secure Networks, Villalobos, Miller, Midland and Parsons and
each of their respective Associates (collectively, the “Secure Releasees”), of and from any
and all claims, debts, demands, actions, causes of action, suits, dues, sums of money, accounts,
reckonings, bonds, covenants, contracts, controversies, agreements, promises, judgments, acts,
omissions, variances, damages, executions, and liabilities, both in law and equity, federal and
state, known or unknown, suspected or unsuspected (collectively, “Claims”), which have
arisen, are arising, or may in the future arise, directly or indirectly, out of, from, or in
connection with any of the matters alleged in or referred to in the Action; provided,
however, that the SCM Releasors explicitly do not release the Secure Releasees of and from
any and all Claims which have arisen, are arising, or may in the future arise, directly or
indirectly, out of, from, or in connection with (i) the Merger, the Merger Agreement or the Merger
Documents, (ii) the business of Hirsch or the Secure Releasees’ business relationship with Hirsch,
(iii) the obligations of the Secure Releasees under the Amendment and Restatement or Limited
Guarantee, (iv) any breach or noncompliance by any Secure Releasee of this Settlement Agreement,
or(v) any matter not alleged in or referred to in the Action.

(b) Hirsch Releasors’ Release of Secure Releasees. Upon the Effective Time, Hirsch,
on behalf of itself and its Associates (which for the avoidance of any doubt, does not include SCM
or Marx or any person or entity claiming through either of them) (collectively, the “Hirsch
Releasors”), do hereby remise, release, waive, acquit, and forever discharge the Secure
Releasees of and from any and all Claims which have arisen, are arising, or may in the future
arise, directly or indirectly, out of, from, or in connection with any of the matters alleged in or
referred to in the Action; provided, however, that the Hirsch Releasors explicitly
do not release the Secure Releasees of and from any and all Claims which have arisen, are arising,
or may in the future arise, directly or indirectly, out of, from, or in connection with (i) the
Merger, the Merger Agreement or the Merger Documents, (ii) the business of Hirsch or the Secure
Releasees’ business relationship with Hirsch, (iii) the obligations of the Secure Releasees under
the Amendment and Restatement or Limited Guarantee, (iv) any breach or noncompliance by any Secure
Releasee of this Settlement Agreement, or (v) any matter not alleged in or referred to in the
Action.

(c) Secure Releasors’ Release of SCM/Hirsch Releasees. Upon the Effective Time,
Secure Keyboards, Secure Networks, Villalobos, Miller, Midland and Parsons, on behalf of themselves
and each of their respective Associates (which for the avoidance of any doubt, does not include SCM
or Hirsch) (collectively, the “Secure Releasors”), do hereby remise, release, waive,
acquit, and forever discharge SCM, Marx and Hirsch and each of their respective Associates
(collectively, the “SCM/Hirsch Releasees”) of and from any and all Claims which have
arisen, are arising, or may in the future arise, directly or indirectly, out of, from, or in
connection with any matter whatsoever, including but not limited to the 1994 Settlement Agreement,
the Merger, the Merger Agreement, the Merger Documents, any of the matters alleged in or referred
to in the Action, or any other matter at any time up to the Effective Time; provided,
however, that this release shall not release Hirsch from any of its obligations under the
Amendment and Restatement, SCM from any of its obligations under the Limited Guarantee or any
breach or noncompliance by any SCM/Hirsch Releasee of this Settlement Agreement.

(d) Hirsch Releasors’ Release of SCM Releasees. Upon the Effective Time, the Hirsch
Releasors do hereby remise, release, waive, acquit, and forever discharge SCM and Marx, and each of
their respective Associates (which for the avoidance of any doubt, does not include Hirsch or
Midland or any person or entity claiming through either of them) (collectively, the “SCM
Releasees”) of and from any and all Claims which have arisen, are arising, or may in the future
arise, directly or indirectly, out of, from, or in connection with the 1994 Settlement Agreement,
any of the matters alleged in or referred to in the Action, or any other matter relating in any way
to Hirsch’s business relationship with the Secure Releasees; provided, however,
that this release shall not release (i) any breach or noncompliance by any SCM Releasee of this
Settlement Agreement, the Merger, the Merger Agreement, or the Merger Documents; (ii) any rights to
earned but unpaid compensation related to employment by Hirsch for the last pay period prior to the
Effective Time of the Merger, which rights, in the case of individuals named in Schedule 3.31 of
Hirsch’s disclosure schedules to the Merger Agreement, are consistent with that schedule; or (iii)
any rights to accrued but unused benefits related to employment by Hirsch prior to the Effective
Time of the Merger pursuant to the benefit plans set forth in Schedule 3.14(a) of Hirsch’s
disclosure schedules to the Merger Agreement.

(e) Waiver of Cal. Civ. Code § 1542. The Parties to this Settlement Agreement further
warrant, represent and agree that they are fully aware of California Civil Code Section 1542, which
provides as follows:

SEC. 1542. GENERAL RELEASE. A general release does not extend to claims which
the creditor does not know or suspect to exist in his or her favor at the time of
executing the release, which if known by him or her must have materially affected
his or her settlement with the debtor.

The Parties hereby waive and relinquish every right or benefit that they have or might have under
Section 1542 to the full extent that they may lawfully waive such right or benefit with regard to
the subject matter of this Settlement Agreement. In connection with such waiver and
relinquishment, the Parties acknowledge that they are aware that they might later discover facts in
addition to or different from those which they now know or believe to be true with respect to the
subject matter of this Settlement Agreement, but that it is their intention hereby fully, finally
and forever to settle and release the matters, known or unknown, suspected or unsuspected, which
now exist, or previously existed between the Parties, that are released in this Settlement
Agreement. This Settlement Agreement is intended to be and is final and binding, regardless of any
claims of misrepresentation, concealment of fact, or mistake of law or fact and shall be and remain
in effect as a full and complete release of all such matters, notwithstanding the discovery or
existence of any additional or different claims or facts relative thereto. In furtherance of such
intention, the releases given pursuant to this Settlement Agreement shall be in, and shall remain
in, effect as a full and complete release, notwithstanding the discovery or existence of any such
additional or different facts.

(f) Covenant Not To Sue. Except for the enforcement of this Settlement Agreement,
each releasing Party, for itself, and for all of its respective Releasors (defined in subparagraphs
8(a)-(d) above), hereby covenants not to sue each released Party or any of its respective Releasees
(defined in subparagraphs 8(a)-(d) above) based on any Claim covered by that releasing Party’s
release (set forth in subparagraphs 8(a)-(d) above).

(g) No Release of Obligations or Rights Under This Settlement Agreement.
Notwithstanding the foregoing, nothing herein shall operate to release any of the Parties’
obligations or rights under this Settlement Agreement, nor their rights to enforce the same.

(h) Associates. As used herein with respect to any Party, person or entity, the term
“Associates” means each of such Party’s person’s or entity’s past, present, and future
parents, subsidiaries, affiliates, partnerships, LLCs or other related business entities,
divisions, members, partners, shareholders, owners, investors, co-venturers, alter egos,
predecessors, successors and assigns, and each of their respective past, present, and future
officers, directors, members, partners, shareholders, owners, investors, co-venturers, alter egos,
employees, attorneys, consultants, experts, insurers, agents, representatives, spouses, heirs,
executors, administrators, predecessors, successors, and assigns.

9. Good Faith Settlement. The Parties hereby stipulate and agree that the settlement
memorialized in this Settlement Agreement is a good faith settlement between and among the Parties
within the meaning of California Code of Civil Procedure Section 877.6.

10. Governing Law. This Settlement Agreement shall be interpreted in accordance with
and governed by the law of the State of California as such laws are applied to agreements between
California residents entered into and to be performed entirely within the State of California,
exclusive of choice-of-law principles.

11. Integration. This Settlement Agreement, the Amendment and Restatement, and the
Limited Guarantee, constitute the full and entire understanding and agreement between the parties
with respect to the settlement of the Action, and supersedes all prior settlement conversations,
negotiations, and understandings between them with respect to the settlement of the Action.

12. Each Party to Bear Own Costs and Attorneys’ Fees. Each Party hereto shall bear
its own respective costs, expenses, and attorneys’ fees with respect to the Action and this
Settlement Agreement.

13. Jointly Drafted. This Settlement Agreement shall be deemed to have been
negotiated and drafted at the joint request, direction, and instruction of each of the Parties, at
arm’s length, with the advice and participation of counsel, and will be interpreted in accordance
with its terms without favor to any of the Parties.

14. Amendment Only In Writing. This Settlement Agreement may be amended only by a
written agreement executed by all Parties hereto.

15. Severability. In the event that any covenant, condition or other provision herein
contained is held to be invalid, void or illegal by any court of competent jurisdiction, the same
shall be deemed severable from the remainder of the Settlement Agreement and shall in no way
affect, impair or invalidate any other covenant, condition or other provision herein contained. If
such condition, covenant or other provision shall be deemed invalid due to its scope or breadth,
such covenant, condition or other provision shall be deemed valid to the extent of the scope or
breadth permitted by law.

16. Counterparts. This Settlement Agreement may be executed in counterparts, each of
which shall be deemed a duplicate original, but all of which together shall constitute one and the
same instrument. Facsimile and .pdf copies of this Agreement shall have the same force and effect
as an original.

17. Waiver. No breach of any provision hereof can be waived unless in writing.
Waiver of any one breach of any provision hereof shall not be deemed to be a waiver of any other
breach of the same or any other provision hereof.

19. Headings. Headings contained in this Settlement Agreement are for convenience of
reference only and are not intended to alter or vary the construction and meaning of this
Settlement Agreement.

20. Effect of Settlement Agreement if Merger Not Consummated. In the event the Merger
Agreement is terminated prior to its Effective Time, this Settlement Agreement shall terminate,
shall have no force or effect, and shall be null and void. This Settlement Agreement and any other
past, present, or future settlement communications shall be deemed confidential and shall not be
used for any purpose in this action or any other proceedings, including but not limited to any
purpose prohibited by California Evidence Code Section 1152.

[Signature Page Follows]

IN WITNESS WHEREOF, the Parties hereto have executed this Settlement Agreement as of
the Effective Date.

SECURE KEYBOARDS, LTD.

	 	 	 
	By:
	 	/s/ Robert J. Parsons

	 	 	 

	 	 	Robert J. Parsons,

Managing and General Partner

	By:
	 	/s/ Lawrence W. Midland

	 	 	 

	 	 	Lawrence W. Midland,

General Partner

	By:
	 	/s/ Howard Miller

	 	 	 

	 	 	Howard Miller,

General Partner

	By:
	 	/s/ Luis Villalobos

	 	 	 

	 	 	Luis Villalobos,

General Partner

1

	 	 	SECURE NETWORKS, LTD.

	 	 	 
	By:
	 	/s/ Robert J. Parsons

	 	 	 

	 	 	Robert J. Parsons,

Managing and General Partner

	By:
	 	/s/ Lawrence W. Midland

	 	 	 

	 	 	Lawrence W. Midland,

General Partner

2

	 	 	/s/ Luis Villalobos

	 	 	Luis Villalobos, individually

/s/ Howard Miller

	 	 	Howard B. Miller, individually

/s/ Larry Midland

	 	 	Larry Midland, individually

/s/ Robert Parsons

	 	 	Robert Parsons, individually

3

SCM MICROSYSTEMS, INC.

	 	 	 
	By:
	 	/s/ Dr. Manfred Mueller

	 	 	 

	 	 	Dr. Manfred Mueller

	 	 	Executive Vice President Strategic Sales & Business
Development

/s/ Felix Marx

	 	 	Felix Marx, individually

4

HIRSCH ELECTRONICS CORPORATION

	 	 	 
	By:
	 	/s/ Larry Midland

	 	 	 

	 	 	Larry Midland

President

Exhibit B

Amended and Restated Settlement AgreementAMENDED AND RESTATED SETTLEMENT AGREEMENT

This AMENDED AND RESTATED SETTLEMENT AGREEMENT (this “Agreement”), dated as of this
8th day of April, 2009, is made by and among HIRSCH ELECTRONICS CORPORATION, a California
corporation (“Hirsch”), SECURE KEYBOARDS, LTD., a California limited partnership
(“Keyboards”), and SECURE NETWORKS, LTD., a California limited partnership
(“Networks” and, together with Hirsch and Keyboards, collectively, the “Parties”).

WHEREAS, the Parties previously entered into that certain settlement agreement (the “1994
Settlement Agreement”), dated as of November 14, 1994, which provides for, among other things,
agreements among the Parties concerning royalty payments from Hirsch to each of Keyboards and
Networks. A copy of the 1994 Settlement Agreement is attached as Exhibit A hereto. The
1994 Settlement Agreement included the following as background information:

	 	a)	 	Hirsch was founded in 1981 by Steve Hirsch, a young entrepreneur who had invented a
security technology, and Lawrence Midland (“Midland”), Howard Miller
(“Miller”), Robert Parsons (“Parsons”) and Luis Villalobos
(“Villalobos”), who provided the initial financing.

	 	i)	 	By late 1981, Steve Hirsch had begun preparation of a patent application, and
was seeking financing for Hirsch, which he had incorporated to exploit his invention.
After an unrelated private placement had failed to close, Villalobos and Miller
structured a financing (seed capital for Hirsch and an R&D partnership to fund
development of the technology) and rewrote the patent application.

	 	ii)	 	Keyboards, the R&D partnership, bought all the rights to the technology from
Steve Hirsch, and then granted an exclusive license to Hirsch, and an option to
purchase the technology under certain conditions. “Technology” was defined1
to include not just the original invention, but all associated and future developments
and products. Thus, Hirsch was the vehicle for exploiting the Technology, and
Keyboards, having provided the funds to develop the Technology, was to receive payments
through the year 2020 based on revenues from the broadly defined Technology. Keyboards
general partners deferred most of their upside potential until after the limited
partners received 125% of their pre-tax investment, which for someone in the 50%
bracket would be 2 1/2 times their after-tax investment; thereafter limited partners
receive approximately 20% of the royalties.

	 	iii)	 	Midland, Miller, Villalobos and GRFN (a California corporation formed for that
purpose) were the original general partners in Keyboards. Soon after Keyboards’
formation, Parsons became a general partner; GRFN was subsequently discontinued.

	 	iv)	 	Midland, Miller, Parsons and Villalobos provided seed capital to Hirsch and
provided guarantees with respect to obtaining the R&D financing. Midland and Parsons
subsequently raised $400,000 of capital from limited partners in Keyboards.

	 	b)	 	Hirsch met all of the conditions, and exercised its option and purchased the Technology
from Keyboards. The terms of purchase called for payments2 to Keyboards through
the year 2020.

	 	c)	 	In 1985 and 1986 additional capital was raised to “finance the development and
marketing of various new security systems product lines which will help drive the sales of
the Digital Scrambler.”3

	 	i)	 	Parsons raised $550,000 in equity by selling shares of Hirsch stock to private
investors.

	 	ii)	 	Midland and Parsons as general partners formed Networks, and raised $1,200,000
from limited partners, approximately half in 1985 and the balance in 1986.

	 	iii)	 	Two agreements were entered into between Hirsch and Networks: a written
agreement, relating to the 1985 portion of funding, which called for royalties through
the year 2005; and an oral agreement relating to the 1986 portion of funding.

	 	d)	 	Hirsch wished to avoid paying royalties on the same revenue to both Keyboards and
Networks. To that end, in 1986 Hirsch and Keyboards executed an agreement, which excluded
from Keyboards royalty base, those “products developed on funding from” Networks.

	 	e)	 	In 1994, a dispute arose among Keyboards, Hirsch and Networks as to the royalties that
have been paid and are to be paid. The parties contentions were generally as follows:

	 	i)	 	Keyboards contended: (a) that even though all current and past Hirsch revenues
fall within the definition of “Technology”, Hirsch had incorrectly excluded various
revenues from Keyboards royalties; (b) that Hirsch had not been paying royalties on
software at the correct and higher rate;4 (c) that the sole exception to
Keyboards royalties had effectively expired since Hirsch no longer sold “products
developed on funding from” Networks; and (d) that while Hirsch’s agreements with
Networks may in effect require Hirsch to pay royalties to both Keyboards and Networks,
they cannot relieve Hirsch of its royalty obligations to Keyboards.

	 	ii)	 	Networks contended: (a) that its agreements with Hirsch were intended to
provide royalties not just on the products that were directly developed from that
funding, but also on products that evolved from them; (b) that otherwise the limited
partners could not recoup, much less obtain a return on, their investment; (c) that its
1986 oral agreement with Hirsch had extended royalty payments to the year 2011; and (d)
that while Hirsch’s agreements with Keyboards may in effect require Hirsch to pay
royalties to both Keyboards and Networks, they cannot relieve Hirsch of its royalty
obligations to Networks.

	 	iii)	 	Hirsch contended: (a) that Hirsch never intended to pay royalties to both
Keyboards and Networks on the same products; (b) that paying 14% to 28% royalty to
Keyboards on software would seriously impair Hirsch’s margins on software sales; (c)
that Hirsch had interpreted its obligations to Keyboards and Networks not just based on
the language in the agreements, but also based on what it understood to be the intent
of those agreements, as well as what it believed to be equitable to the parties; (d)
that Hirsch had been computing the revenues for Networks royalties based on a
“remoteness dilution” basis;5 (e) that Hirsch may have understated its
royalty obligations to Keyboards, but if so, any error was in good faith; (f) that
Hirsch was forced into making difficult and- sometimes arbitrary decisions as to what
portion of revenues are subject to royalties to which of the partnerships, and (g) that
the royalty agreements hampered6 Hirsch’s ability to price and configure
products; and

	 	f)	 	Each of the parties agreed:

	 	i)	 	That litigation to resolve these issues would be expensive, time consuming,
distracting, and harmful to the business goals of the parties.

	 	ii)	 	That there was reasonable risk that if contested, some or all of the
contentions in its interest could have been rejected and that, some or all of the
contentions against its interest could have been upheld.

	 	iii)	 	That including all Hirsch revenues in the base for royalties, and apportioning
that base between Keyboards and Networks on fixed percentages, eliminates the
underlying factors that led to, and was a reasonable compromise for, their dispute.

	 	iv)	 	That rather than incur the risks of litigation, it was preferable to settle the
dispute as set forth in the 1994 Settlement Agreement;

WHEREAS, on December 10, 2008, Parsons and Midland, as two of the four general partners of
Keyboards, delivered a letter of understanding to SCM Microsystems, Inc. (“SCM”), as
amended and restated on January 30, 2009 (the “Keyboards Letter of Understanding”), which
was intended to clarify the interpretation of the 1994 Settlement Agreement following the proposed
merger (the “Merger”) of SCM and Hirsch contemplated by the Agreement and Plan of Merger,
dated December 10, 2008, by and among Hirsch, SCM, and the other parties named therein (the
“Merger Agreement”). A copy of the Keyboards Letter of Understanding, which was not signed
by the other two general partners of Keyboards, is attached as Exhibit B hereto;

WHEREAS, in connection with or as a result of the Merger and the other transactions
contemplated by the Merger Agreement, SCM, Hirsch, certain subsidiaries of Hirsch and/or certain
officers, directors and shareholders of Hirsch and/or its subsidiaries entered into or will enter
into Ancillary Agreements (as defined in the Merger Agreement) and certain other agreements and
understandings and deliver or will deliver certain certificates, documents or other instruments
(any and all such Ancillary Agreements, agreements, certificates, documents or other instruments
together, the “Merger Documents”);

WHEREAS, Messrs. Parsons and Midland, as the two general partners of Networks, delivered a
letter of understanding to SCM that was substantially similar to the Keyboards Letter of
Understanding and was also amended and restated on January 30, 2009 (the “Networks Letter of
Understanding” and, collectively with the Keyboards Letter of Understanding, the “Letters
of Understanding”). A copy of the Networks Letter of Understanding is attached as Exhibit
C hereto;

WHEREAS, Keyboards and two of its general partners has initiated litigation in Los Angeles
Superior Court (Case No. SC102226), against Hirsch, SCM and certain officers and directors of SCM
alleging claims arising out of the 1994 Settlement Agreement, the Keyboards Letter of Understanding
and the Merger;

WHEREAS, concurrently with the execution of this Agreement, SCM, Hirsch, Keyboards, and
Networks, are entering into a settlement agreement (the “2009 Settlement Agreement,” in
substantially the form attached as Exhibit D hereto) to settle and resolve any and all
claims, disputes, issues or matters that exist or could exist between them with respect to the
Keyboards Claim, so as to avoid the cost and expense of further proceedings;

WHEREAS, the Parties desire to simplify and clarify the royalty arrangement provided for by
the 1994 Settlement Agreement, and to replace and supersede such royalty arrangement with a new,
definitive installment payment schedule as set forth herein;

WHEREAS, the Parties desire to amend and restate the 1994 Settlement Agreement in its entirety
with this Agreement, which will supersede and replace the 1994 Settlement Agreement in all
respects;

WHEREAS, the Parties further desire for this Agreement to supersede and replace the Letters of
Understanding, and for the Letters of Understanding to terminate and be of no further force or
effect as of the Effective Time of the Merger (as such term is defined in the Merger Agreement, the
“Effective Time”); and

WHEREAS, Section 9 of the 1994 Settlement Agreement provides that the 1994 Settlement
Agreement may not be amended unless such amendment is executed in writing by all of the Parties
thereto, including all four of the general partners of Keyboards and the two general partners of
Networks.

NOW, THEREFORE, in consideration of the foregoing and the mutual promises, representations,
warranties, covenants and agreements contained herein, and for good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

1. Amendment; Effective Time; Term. This Agreement amends and restates in its
entirety the 1994 Settlement Agreement. This Agreement shall be effective and binding on the
Parties hereto as of the date hereof, except that Sections 2 and 3 of this
Agreement shall automatically and immediately become effective at, and not before, the Effective
Time. Notwithstanding any other provision of this Agreement, if the Merger Agreement is terminated
prior to its Effective Time, this Agreement shall terminate, shall have no force or effect, and
shall be null and void. In addition, effective as of the Effective Time, the Letters of
Understanding shall terminate and be of no further force or effect.

2. Payments to Keyboards and Networks. In full satisfaction of any and all
obligations of Hirsch under the 1994 Settlement Agreement, including without limitation, in lieu of
any and all payments, royalty or otherwise, based on the revenue, Technology (as defined above) or
assets of Hirsch thereunder, Hirsch agrees to and shall make certain payments to Keyboards and
Networks as follows:

a. Initial Payment Period. For the period from January 1, 2009 to December 31, 2009
(the “Initial Payment Period”), Hirsch shall pay Keyboards and Networks, collectively, an
aggregate amount equal to (i) Nine Hundred and Eighty-Six Thousand Dollars ($986,000) less
(ii) the amount of any payments that Hirsch makes to Keyboards or Networks prior to the Effective
Time under or in connection the 1994 Settlement Agreement with respect to the period of January 1,
2009 to December 31, 2009 (the “Initial Payment”).

b. Subsequent Payment Periods. For the period from January 1, 2010 to December 31,
2010, Hirsch shall pay Keyboards and Networks, collectively, an aggregate amount equal to (i) Nine
Hundred and Eighty-Six Thousand Dollars ($986,000), multiplied by (ii) an inflation
rate equal to one (1) plus the Consumer Price Index Inflation Percentage, if positive, for the
prior calendar year (in this case, the period from January 1, 2009 to December 31, 2009), and,
subject to Section 3 hereof, for each calendar year period thereafter until and including
the calendar year period of January 1, 2020 to December 31, 2020 (such payment periods, together
with the Initial Payment Period, the “Payment Periods”), Hirsch shall pay Keyboards and
Networks, collectively, an aggregate amount equal to (i) the aggregate payment amount for the prior
Payment Period, multiplied by (ii) an inflation rate equal to one (1) plus the
Consumer Price Index Inflation Percentage, if positive, for the prior calendar year, plus
(iii) for the January 1, 2020 to December 31, 2020 Payment Period only, an amount equal to $126,492
(such payments, together with the Initial Payment, the “Periodic Payments”). As used
herein, the “Consumer Price Index Inflation Percentage” means the annual Consumer Price
Index-All Urban Consumers, U.S. City Average, All Items, Not Seasonally Adjusted, published by the
United States Department of Labor, Bureau of Labor Statistics and published on the website
http://www.bls.gov/CPI for the applicable calendar year/Payment Period.7 For
illustrative purposes only, a sample calculation of the Periodic Payments due for each Payment
Period is set forth on Schedule I attached hereto.

c. Payment Dates. The Periodic Payments required by Hirsch hereunder for any Payment
Period shall be made quarterly in equal amounts and shall be due and payable on April 30, July 31,
October 31 of such Payment Period and January 31 of the following Payment Period (or, if any such
dates do not fall on a Business Day, on the next Business Day thereafter); provided,
however, that if the Effective Time occurs after April 30, 2009, the Initial Payment shall
be paid in its entirety in three equal amounts on July 31, 2009, October 31, 2009, and January 31,
2010. Unless Hirsch shall elect to exercise the Lumpsum Option, the last Periodic Payment by
Hirsch shall be made on January 31, 2021. As used herein, “Business Day” means any day
that is not a Saturday, Sunday, or other day on which national banks or banks in Santa Ana,
California or Germany are authorized or required to close.

d. Division of Payments Between Keyboards and Networks. The aggregate Periodic
Payments made by Hirsch hereunder shall be apportioned between Keyboards and Networks in accordance
with the following table, and the final payment to Networks on January 31, 2012 shall satisfy the
complete obligation of Hirsch to Networks:

	 	 	 	 	 
	Payment Period

	 	Networks Percentage of

Periodic Payment
	 	Keyboards Percentage of

Periodic Payment
	 

	 	 
	 	 
	January 1, 2009 to

December 31, 2009

	 	18.9711%

	 	81.0289%

	 

	 	 
	 	 
	January 1, 2010 to

December 31, 2010

	 	16.4919%

	 	83.5081%

	 

	 	 
	 	 
	January 1, 2011 to

December 31, 2011

	 	13.9834%

	 	86.0166%

	 

	 	 
	 	 
	January 1, 2012 to

December 31, 2012 and

for each Payment Period

thereafter*

	 	0.00%

	 	100.00%

	 

	 	 
	 	 

• Keyboards shall receive 100% of any Periodic Payment for any “Payment Period” after December 31,
2011.

3. Hirsch Buyout Option. Notwithstanding Section 2 hereof, at any time
on or after January 1, 2012, upon ten (10) days prior written notice (the “Lumpsum Notice”)
to Keyboards, Hirsch, and only Hirsch or its successors or assigns, shall have the option (the
“Lumpsum Option”) to elect, in its sole discretion, to make a lumpsum payment (the
“Lumpsum Payment”) to Keyboards in lieu of any and all future Periodic Payments due
Keyboards (and any unpaid portion thereof) as described in Section 2 hereof. The Lumpsum
Payment shall be in an aggregate amount equal to the net present value of any remaining Periodic
Payments (including the net present value of any unpaid portion thereof), calculated assuming (a)
an inflation rate per annum of Four Percent (4%) substituted in lieu of applying the Consumer Price
Index Inflation Percentage for each applicable Payment Period, and (b) a discount rate equal to
Nine Percent (9%) per annum, in each case adjusted proportionally for any portion of a full
calendar year. Any Lumpsum Payment shall be allocated solely to Keyboards and no amount shall be
payable to Networks. Following the payment of the Lumpsum Payment by Hirsch, all of Hirsch’s
obligations to Keyboards hereunder shall be deemed satisfied in full. For illustrative purposes
only, sample calculations of the Lumpsum Payment for each calendar year is set forth on
Schedule II attached hereto.

4. Consent to the Merger. Each of Keyboards and Networks and each of their respective
general partners hereby acknowledges, agrees and consents to Hirsch’s entry into the Merger
Agreement and to the consummation of the transactions contemplated thereby, including the Merger
and hereby waives any right to notice, review or comment that may exist or have existed under the
1994 Settlement Agreement in connection with the execution, delivery and performance of the Merger
Agreement, the Merger Documents or the consummation of the transactions contemplated thereby. Each
of Keyboards and Networks and each of their respective general partners hereby waives any and all
rights that they may have under Chapter 13 of the California Corporations Code with respect to the
Merger, the Merger Agreement, the Merger Documents or the other transactions contemplated thereby,
and agrees to exchange any and all shares of Hirsch common stock held by such parties for the
merger consideration, consisting of a combination of cash, shares of SCM common stock and warrants
to purchase shares of SCM common stock, as described in the Merger Agreement.

5. Authorization.

a. Keyboards and each of its general partners represents and warrants that (i) it has full
power and authority to execute and deliver this Agreement and to perform its obligations hereunder,
(ii) the execution, delivery and performance of this Agreement by Keyboards and each of its general
partners has been duly and validly authorized, and no other actions or proceedings by or on the
part of Keyboards or any of its general partners is necessary to authorize the execution, delivery
or performance of this Agreement, (iii) this Agreement has been duly executed and delivered by
Keyboards and each of its general partners and (iv) this Agreement constitutes the legal, valid and
binding obligations of Keyboards and each of its general partners, enforceable against Keyboards
and each of its general partners in accordance with its respective terms, except as the same may be
limited by bankruptcy, insolvency, reorganization, moratorium or similar Law now or hereafter in
effect relating to creditors’ rights generally and subject to general principles of equity.

b. Networks and each of its general partners represents and warrants that (i) it has full
power and authority to execute and deliver this Agreement and to perform its obligations hereunder,
(ii) the execution, delivery and performance by Networks and each of its general partners of this
Agreement has been duly and validly authorized, and no other actions or proceedings by or on the
part of Networks or any of its general partners is necessary to authorize the execution, delivery
or performance of this Agreement, (iii) this Agreement has been duly executed and delivered by
Networks and each of its general partners and (iv) this Agreement constitutes the legal, valid and
binding obligations of Networks and each of its general partners, enforceable against Networks and
each of its general partners in accordance with its respective terms, except as the same may be
limited by bankruptcy, insolvency, reorganization, moratorium or similar Law now or hereafter in
effect relating to creditors’ rights generally and subject to general principles of equity.

c. Hirsch represents and warrants that (i) it has full power and authority to execute and
deliver this Agreement and to perform its obligations hereunder, (ii) the execution, delivery and
performance by Hirsch of this Agreement has been duly and validly authorized, and no other actions
or proceedings by or on the part of Hirsch is necessary to authorize the execution, delivery or
performance of this Agreement, (iii) this Agreement has been duly executed and delivered by Hirsch,
and (iv) this Agreement constitutes the legal, valid and binding obligations of Hirsch, enforceable
against Hirsch in accordance with its respective terms, except as the same may be limited by
bankruptcy, insolvency, reorganization, moratorium or similar Law now or hereafter in effect
relating to creditors’ rights generally and subject to general principles of equity.

6. Notice; Delivery.

a. All notices and other communications hereunder shall be in writing and shall be deemed duly
given (i) on the date of delivery if delivered personally, or if delivered by facsimile, upon
written confirmation of receipt by facsimile; (ii) on the first (1st) Business Day following the
date of dispatch if delivered utilizing a next-day service by a recognized next-day courier under
circumstances in which such courier guarantees next-day delivery (except in the case of overseas
delivery, in which case notice shall be deemed duly given on the fourth (4th) Business Day
following the date of dispatch if delivered utilizing an expedited service by a recognized
international courier under circumstances in which such courier guarantees such delivery); or
(iii) on the earlier of confirmed receipt or the fifth (5th) Business Day following the date of
mailing if delivered by registered or certified mail, return receipt requested, postage prepaid
(except in the case of overseas delivery, in which case notice shall be deemed duly given on
confirmed receipt if delivered by registered or certified mail, return receipt requested, postage
prepaid). All notices hereunder shall be delivered to the addresses set forth below, or pursuant
to such other instructions as may be designated in writing by the party to receive such notice. In
addition, when giving any notice hereunder a party shall also send a courtesy copy of such notice
via e-mail to the party(ies) to receive such notice at the e-mail addresses set forth below;
provided, however, that the failure to send, or the recipient’s failure to receive,
such courtesy copy via e-mail shall not invalidate or otherwise adversely effect in any way the
validity of such notice hereunder:

	 	 	 	 	 
	Hirsch Electronics Corporation
	 	copy:
	President
	 	SCM Microsystems, Inc.
	1900-B Carnegie Ave.,
	 	Oskar-Messter-Straße 13,
	Santa Ana, CA 92705
	 	85737, Ismaning Germany
	Facsimile: 949.250.7372
	 	Attention:  Felix Marx
	E-mail:
	 	Facsimile:  +49.89.9595.5170
	lmidland@hirschelectronics.com
	 	E-mail:  FMarx@scmmicro.de
	Secure Keyboards, Ltd.
	 	copy:
	c/o Robert J. Parsons
	 	Lawrence W. Midland
	110 Newport Center Drive
	 	1805 Jamaica Road
	Suite 200
	 	Costa Mesa, CA 92626
	Newport Beach, CA 92660
	 	Facsimile:  949.250.7372
	Facsimile: 949.729.3196
	 	E-mail:
	E-mail: parsons600@aol.com
	 	lmidland@hirschelectronics.com
	copy:
	 	copy:
	Howard Miller
	 	Luis Villalobos
	13555 Bayliss Road
	 	4220 Park Newport, #410
	Los Angeles, CA 90049
	 	Newport Beach, CA 92660
	Facsimile: 213.481.1554
	 	Facsimile:
	E-mail: hmiller@girardikeese.com
	 	E-mail:  luvil@roadrunner.com
	 
	 	 	 	 
	Secure Networks, Ltd.
	 	copy:
	c/o Robert J. Parsons
	 	Lawrence W. Midland
	110 Newport Center Drive
	 	1805 Jamaica Road
	Suite 200
	 	Costa Mesa, CA 92626
	Newport Beach, CA 92660
	 	Facsimile:  949.250.7372
	Facsimile: 949.729.3196
	 	E-mail:
	E-mail: parsons600@aol.com
	 	lmidland@hirschelectronics.com

b. As of the date hereof, the payment instructions for all payments due to Keyboards and
Networks under this Agreement are set forth on Schedule III attached hereto. Keyboards and
Networks, and their respective successors and assigns may hereafter designate such other payment
instructions by providing written notice thereof (i) at least fifteen (15) Business Days before a
payment date, or (ii) within three (3) Business Days of receiving the Lumpsum Notice.

7. Miscellaneous.

a. Assignment. Neither Hirsch, nor Keyboards or Networks, may assign any of their
respective rights, interests or obligations hereunder to any other person (except by operation of
law) without the prior written consent of Keyboards (in the case of an assignment by Hirsch) or
Hirsch (in the case of an assignment by Keyboards or Networks); provided, however,
that Hirsch may assign all or a portion of its obligations hereunder to an affiliate of Hirsch,
provided, that no such transfer shall relieve Hirsch of any liability or obligation
hereunder except to the extent actually performed or satisfied by the assignee.

b. Further Assurances. Each party hereby covenants and agrees to execute and deliver
such further and other instruments, agreements and writings and do and perform, and cause to be
done and performed, such further and other acts and things that may be necessary or desirable in
order to give full effect to this Agreement and every part of it.

c. Severability. In the event that any covenant, condition or other provision herein
contained is held to be invalid, void or illegal by any court of competent jurisdiction, the same
shall be deemed severable from the remainder of the Agreement and shall in no way affect, impair or
invalidate any other covenant, condition or other provision herein contained. If such condition,
covenant or other provision shall be deemed invalid due to its scope or breadth, such covenant,
condition or other provision shall be deemed valid to the extent of the scope or breadth permitted
by law.

d. Entire Agreement. This Agreement, and the 2009 Settlement Agreement, sets forth
the entire agreement between and among the parties to these agreements with respect to the subject
matter hereof and supersedes any and all prior agreements relating thereto, including without
limitation the 1994 Settlement Agreement and the Letters of Understanding; there are no other
understandings or agreements between or among the Parties with respect to the subject matter hereof
except as set forth herein. No term, condition or provision of the Agreement may be modified,
waived, or changed in any way except in writing, executed with the same formalities hereof, by the
Party to be charged with any such modification, waiver, or change.

e. Governing Law. This Agreement will be construed pursuant to the laws of the State
of California (without regard to conflicts of law principles). For purposes of any disputes
arising out of or pertaining to this Agreement, the Parties consent to non-exclusive personal
jurisdiction in the federal and state courts located in the County of Los Angeles, State of
California.

f. Counterparts. This Agreement may be executed in two or more counterparts, each of
which shall be deemed an original, but which together shall constitute one and the same instrument.
Facsimile and .pdf copies of this Agreement shall have the same force and effect as an original.

[Remainder of Page Intentionally Left Blank]IN WITNESS WHEREOF, this AMENDED AND
RESTATED SETTLEMENT AGREEMENT is to be effective as of the date first set forth above.

	 
	HIRSCH ELECTRONICS CORPORATION

	 
	By: /s/ Lawrence W. Midland

	 

	Lawrence W. Midland,

President

	 
	SECURE NETWORKS, LTD.
	A California limited partnership

By: /s/ Robert J. Parsons

	 

	Robert J. Parsons,

Managing and General Partner

	By: /s/ Lawrence W. Midland

	 

	Lawrence W. Midland,

General Partner

	 
	SECURE KEYBOARDS, LTD.
	A California limited partnership

By: /s/ Robert J. Parsons

	 

	Robert J. Parsons,

Managing and General Partner

	By: /s/ Lawrence W. Midland

	 

	Lawrence W. Midland,

General Partner

	By: /s/ Howard Miller

	 

	Howard Miller,

General Partner

	By: /s/ Luis Villalobos

	 

	Luis Villalobos,

General Partner

1The 1986 agreement between Hirsch and
Keyboards, recapping the original agreement, included the following: “the
‘Technology’ means the patent and patent applications and all associated
knowhow, software, trademarks and tradenames and all future developments,
patent applications, patents, knowhow, software, trademarks and tradenames.”

2These payments for the purchase are generally
referred to herein as “royalties” for simplicity; but their actual nature was
installment payments for the sale of the technology.

3From the 1986 agreement between Hirsch and
Keyboards.

4The Purchase and Sale of Technology agreement
between Hirsch and Keyboards, calls for royalties of 14% to 28% for license and
sub-license revenues, and 4.25% on all other revenues.

5Which meant that as a product evolved and
became more remote from a product directly “developed on funding from”
Networks, Hirsch diluted its share of revenues in computing Networks royalties;
and that whenever a subsequent product (such as SAM) departed sufficiently from
a product “developed on funding from” Networks, then Hirsch no longer deemed it
subject to royalties to Networks.

6For example, if Hirsch incorporates a keypad
into a product “developed on funding from” Networks, then Hirsch would have to
pay royalties to both Keyboards and Networks; or if Hirsch throws-in software
to close a major sale, there is no clear way to decide how much of the revenue
to impute to the software.

7For example, for the January 1, 2008 to
December 31, 2008 calendar year, the Consumer Price Index Inflation Percentage
would be equal to 3.8% and is found at the following websites:
http://www.bls.gov/cpi/cpid08av.pdf and

http://data.bls.gov/PDQ/servlet/SurveyOutputServlet?data—tool=latest—numbers&ser
ies—id=CUUR0000SA0&output—view=pct—12mths.

5EX-10.1

SERVICES AGREEMENT

THIS SERVICES AGREEMENT (this “Agreement”) is made and entered into as of April 3,
2009 (the “Effective Date”), by and between AMERICAN REALTY CAPITAL II, LLC, a Delaware
limited liability company (“ARC II”) and GRUBB & ELLIS HEALTHCARE REIT, INC., a Maryland
corporation (the “REIT”), with respect to the following recitals:

R E C I T A L S

A. The REIT intends to file with the Securities and Exchange Commission (the “SEC”) a
Registration Statement on Form S-11 (the “Registration Statement”) in connection with a
follow-on offering (the “Follow-On Offering”) of up to $2,200,000,000 in shares of common
stock (the “Shares”) to be offered to the public.

B. The REIT intends to continue to qualify as a real estate investment trust for federal
income tax purposes and to invest its funds in investments permitted by the terms of the REIT’s
Articles of Incorporation and Section 856 through 860 of the Internal Revenue Code.

C. Realty Capital Securities, LLC, a Delaware limited liability company (“RCS”), a
wholly-owned subsidiary of ARC II will be engaged by the REIT as its agent and exclusive dealer
manager in connection with the Follow-On Offering to solicit and to cause other securities brokers
to solicit subscriptions for the Shares pursuant to the terms and conditions of an Exclusive Dealer
Manager Agreement (the “Dealer Manager Agreement”) entered into by and between RCS and the
REIT, concurrently herewith.

D. The REIT’s current Amended and Restated Advisory Agreement (the “Advisory
Agreement”) dated November 14, 2008 with Grubb & Ellis Healthcare REIT Advisor, LLC, a Delaware
limited liability company (the “REIT Advisor”) and Grubb & Ellis Realty Investors, LLC, a
Virginia limited liability company (“GERI”) expires on September 20, 2009, unless earlier
terminated (except with respect to certain provisions therein that survive expiration or
termination). The REIT desires to enter into this Agreement to supplement and augment its internal
capacity.

E. Prior to the effectiveness of the Follow-On Offering, the REIT will change its name to
“Healthcare Trust of America, Inc.”

F. The REIT desires to avail itself of the experience, sources of information, advice,
assistance and certain facilities available to ARC II, and to have ARC II undertake the duties and
responsibilities herein set forth, on behalf of, and subject to the supervision of the REIT, all as
provided herein.

G. ARC II is willing to undertake to render such services, subject to the supervision of the
REIT, on the terms and conditions hereinafter set forth.

NOW, THEREFORE, of the mutual covenants and agreements contained in this Agreement, and other
good and valuable consideration, the receipt and adequacy of which is hereby acknowledged by the
parties, the parties hereby agree as follows:

A G R E E M E N T

1. Scope of Services. The REIT hereby appoints ARC II to provide, and ARC II hereby agrees
to provide, subject to the terms and conditions of this Agreement, the below-referenced general
consulting services, and other specific services as ARC II and the REIT may agree upon from time to
time during the term of this Agreement.

(a) General Consulting Services. ARC II shall provide general consulting services
to the REIT in connection with the operations of the REIT, including, but not limited to:
(i) creating a website that allows for investor access to account information; (ii) engaging
and negotiating with certain vendors that will provide transfer agent and escrow services,
(iii) augmenting, if needed, a public company-ready management team; (iv) assisting and
cooperating with the REIT’s self-management program; and (v) performing such other services
as set forth on Exhibit A attached hereto (collectively, “General Consulting
Services”).

(b) Specific Services. ARC II shall provide other services to the REIT as the REIT
may request during the term of this Agreement, including, without limitation: (i) property
management services as more particularly described on Exhibit C attached hereto,
(ii) asset acquisition, disposition and/or other related services as more particularly
described on Exhibit D attached hereto; and (iii) asset accounting services
(including property level accounting, preparation of payables and receivables schedules,
property P&Ls, balance sheets, cash reconciliation through general ledger, excluding
corporate accounting, roll up and SEC filings) as more particularly described on Exhibit
E attached hereto (collectively, “Specific Services”). Nothing herein is
intended or shall be construed to require the REIT to utilize ARC II for any or all of the
Specific Services. In addition, nothing herein is intended or shall be construed to
restrict the REIT’s ability to retain any other party to perform any or all of the Specific
Services.

(c) Future Investment Banking Services. If, at any time during the term of this
Agreement or prior to the expiration of the thirty-six (36) month period following a
successful Follow-On Offering, the REIT is considering retaining an investment bank or other
similar agent in connection with any merger, acquisition, private placement or sale of the
REIT’s stock or bonds (primary or secondary), the REIT will endeavor to discuss such actions
with ARC II prior to hiring a firm to provide such investment banking services. The REIT,
however, shall be under no obligation to hire ARC II to furnish such investment banking
services. In the event the REIT elects to hire ARC II for investment banking or financial
advisory services, ARC II and the REIT shall negotiate in good faith to arrive at mutually
acceptable terms for the specific type of engagement at prevailing market rates.
Notwithstanding anything to the contrary contained in this Agreement, the REIT shall have no
liability based on any actual or alleged non-compliance with this Section 1(c).

	2.	 	ARC II Compensation.

(a) ARC Subordinated Incentive Payment. The REIT agrees to pay ARC II a
subordinated incentive payment (“ASIP”) (as set forth in Exhibit B attached
hereto), if any, as consideration for ARC II (i) providing the General Consulting Services
to the REIT and (ii) making itself available to provide the Specific Services in accordance
with the terms and conditions of this Agreement.

(b) Specific Consulting Fees. Subject to the terms and conditions of this
Agreement, the REIT, at its sole option, shall have the right to utilize ARC II to perform
any or all of the Specific Services. As consideration for such services, the REIT agrees to
pay ARC II, as applicable: (i) the Property Management Fee, as defined and more
particularly described on Exhibit C attached hereto, (ii) the Real Estate Services
Fee, as defined and more particularly described on Exhibit D attached hereto, and
(iii) the Asset Accounting Fee, as defined and more particularly described on Exhibit
E attached hereto.

	3.	 	Third Party Costs Reimbursement. All third party costs and expenses incurred by the
REIT will be paid directly by the REIT.  All third party out of pocket costs and expenses
reasonably incurred by ARC II on behalf of the REIT in connection with this Agreement shall be
paid directly by the REIT unless ARC II has paid such out of pocket expense, in which case the
REIT shall reimburse ARC II in arrears within ten (10) days of presentation of an expense
statement and certificate of payment to the REIT; provided, however, once such costs and
expenses, in the aggregate, exceed $50,000.00 in any calendar year, all future non-aggregated
costs and expenses during that calendar year shall be subject to approval by the REIT in its
sole discretion.

	4.	 	ARC II Solely Consulting to the REIT.

(a) The REIT agrees that ARC II has been retained pursuant to this Agreement to act solely
as a consultant to provide the services set forth in Section 1 to the REIT and not
as an advisor to or agent of any other person.

(b) It is specifically understood that the REIT will not base its decisions regarding
whether and how to pursue any strategic alternative solely on ARC II’s advice, but will also
consider the advice of the REIT’s management team, board of directors, legal, tax and other
business advisors and such other factors which it considers appropriate.

(c) The REIT understands and acknowledges that ARC II does not provide tax or legal advice.

(d) ARC II, as an independent contractor under this Agreement, shall not assume the
responsibilities of a fiduciary to the REIT or its stockholders in connection with the
performance of ARC II’s services hereunder.

(e) Except to the extent specifically set forth in this Agreement, ARC II and the REIT,
together with their respective affiliates, hereby acknowledge that the rights and
obligations they have to one another under any credit or other agreement are separate from
each such party’s rights and obligations under this Agreement and will not be affected by
either party’s performance under this Agreement.

	5.	 	Competitive Activities; Right of First Refusal.

(a) During the term of this Agreement, ARC II and its affiliates hereby agree not to provide
any General Consulting Services or Specific Services to any real estate investment trust,
tenancy-in-common program, fund or other real estate company primarily engaged in the
acquisition, leasing, operation or management of medical office buildings or
healthcare-related facilities of the type described in the prospectus contained in the
Registration Statement covering the offering of Shares, as finally amended at the effective
date of the Registration Statement in the section entitled “Investment Objectives, Strategy
and Criteria–Real Property Investments–Medical Office Buildings and Healthcare-Related
Facilities.”

(b) During the term of this Agreement, if ARC II or one of its affiliates identifies an
opportunity to make an investment in one or more office buildings or other facilities for
which greater than fifty percent (50%) of the gross rentable space at such office buildings
or other facilities or notes secured by such office buildings or other facilities is leased
to, or is reasonably expected to be leased to, one or more medical or healthcare-related
tenants, which it proposes to acquire or recommends to purchase either directly or
indirectly through an affiliate or in a joint venture or other co-ownership arrangement, for
itself or for any other ARC II-sponsored or managed program, then ARC II agrees that it
shall provide the REIT with the first opportunity to purchase such investment and that it
shall provide all necessary information to the REIT in order to enable the REIT to determine
whether to proceed with such investment. In the event that the REIT does not approve
proceeding with the investment within thirty (30) days of receipt of such information from
ARC II, the ARC II may proceed with the investment opportunity for its own account or offer
the investment opportunity to any other person or entity.

	6.	 	Liability.

(a) No ARC II partner, stockholder, officer, director, employee, investment advisor, or any
successor in interest of any of them (collectively, the “ARC II Parties”) shall have
any personal or other liability of any kind under this Agreement, and the REIT hereby
expressly waives and releases such liability on behalf of itself and all persons claiming
by, through or under the REIT. The limitations of liability contained in this Section
5(a) shall inure to the benefit of ARC II’s and the ARC II Parties’ present and future
partners, beneficiaries, officers, directors, trustees, stockholders, agents and employees,
and their respective partners, heirs, successors and assigns.

(b) No REIT partner, stockholder, officer, director, employee, investment advisor, or any
successor in interest of any of them (collectively, the “REIT Parties”) shall have
any personal or other liability of any kind under this Agreement, and ARC II hereby
expressly waives and releases such liability on behalf of itself and all persons claiming
by, through or under ARC II. The limitations of liability contained in this Section
5(b) shall inure to the benefit of the REIT’s and the REIT Parties’ present and future
partners, beneficiaries, officers, directors, trustees, stockholders, agents and employees,
and their respective partners, heirs, successors and assigns.

	7.	 	Insurance; Fidelity Bonds.

(a) Insurance. ARC II shall procure and maintain, at its sole expense, insurance
coverages in amounts and for such duration as are reasonably required by the REIT (the
“Coverages”). The Coverages shall, at a minimum, be not less than those coverages
typically maintained by third party consultants/service providers for real estate investment
trusts of similar size and engaged in similar operations. The Coverages shall include, but
shall not be limited to, commercial general liability, follow form excess or umbrella
liability, automobile liability, workers’ compensation/employer’s liability, professional
liability, employment practices liability, fiduciary liability and crime. The REIT shall be
included as an additional insured on the commercial general liability and follow form excess
or umbrella liability insurance by endorsements reasonably acceptable to the REIT. All
Coverages shall be subject to the REIT’s review and approval, which approval shall not be
unreasonably withheld. Prior to commencement of the services under this Agreement, ARC II
shall deliver to the REIT certificates of insurance evidencing each of the required
Coverages and shall deliver the additional insured endorsements required hereunder. At the
written request of the REIT, ARC II shall promptly provide complete, true and correct copies
of each and all of its insurance policies affording the required Coverages.

(b) Fidelity Bonds. If required by the REIT, ARC II will maintain a fidelity bond
with a responsible surety company in such amounts as may be reasonably required by the REIT,
covering all members or partners thereof together with employees and agents of ARC II
handling funds of the REIT and investment documents or records pertaining to investments of
the REIT. Such bonds shall inure to the benefit of the REIT in respect of losses from acts
of such partners, employees and agents through (but not limited to) theft, embezzlement,
fraud, negligence, error or omission or otherwise. The premiums on such bonds shall be paid
by ARC II.

(c) Deductibles and Self-Insured Retentions. ARC II shall be solely responsible for
timely payment of any and all deductibles and self-insured retentions applicable to the
Coverages and the fidelity bonds.

	8.	 	Indemnity. The REIT and ARC II agree to the provisions with respect to the mutual
indemnity and other matters set forth on Exhibit F attached hereto, the terms of which
are incorporated herein in their entirety. Exhibit F is an integral part of this
Agreement and shall survive any termination or expiration of this Agreement.

	9.	 	Term; Termination.

(a) Term. The term of this Agreement shall commence as of the date first above
written and, unless sooner terminated pursuant to Sections 9(b) and (c)
below, shall expire three (3) years from the Effective Date (the “Term”).

(b) Termination by the REIT. At the sole option of the REIT, the REIT may: (i)
terminate this Agreement for any reason or no reason, at any time after the one (1) year
anniversary of the Effective Date upon at least ninety (90) days written notice, which
notice shall not be permitted prior to the one (1) year anniversary of the Effective Date;
(ii) terminate this Agreement immediately, subject to any applicable notice and cure period,
for “Cause” (as defined below); (iii) terminate this Agreement on ten (10) days
written notice if an affiliate of ARC II terminates any agreement entered into between the
REIT and any affiliate of the ARC II (other than any agreement entered into for services
pursuant to Section 2 of this Agreement) without cause or good reason in accordance
with the terms of such agreement; (iv) terminate this Agreement on ten (10) days written
notice if the REIT terminates any agreement entered into between the REIT and any affiliate
of ARC II (other than any agreement entered into for services pursuant to Section 2
of this Agreement) for cause in accordance with the terms of such agreement; (v) terminate
this Agreement on ten (10) days written notice if there shall have occurred any material
adverse change, or any development that could reasonably be expected to result in a material
adverse change, in the condition, financial or otherwise, in the earnings, business,
operations or prospects, whether or not arising from transactions in the ordinary course of
business, or in the management or personnel of ARC II that materially adversely affects its
ability to perform its services under this Agreement; (vi) terminate this Agreement if ARC
II fails to maintain an adequate number of skilled employees to professionally carry out the
services for which ARC II is being engaged consistent with third party service providers
providing similar services to real estate investment trusts of similar size and nature as
the REIT and such failure is not cured within sixty (60) days after written notice thereof
from the REIT to ARC II; and (vii) terminate this Agreement on ten (10) days written notice
if neither William Kahane nor Nicholas Schorsch is available to provide ongoing
non-exclusive services to the REIT in accordance with this Agreement.

“Cause” shall mean any one of the following:

	 	(i)	 	fraud, criminal conduct, or willful misconduct by ARC II;

	 	(ii)	 	a material breach of this Agreement by ARC II, provided that
(a) ARC II does not cure any such material breach within thirty (30) days of
receiving notice of such material breach from the REIT, or (b) if such material
breach is not of a nature that can be remedied within such period, ARC II does
not diligently take all reasonable steps to cure such breach or does not cure
such breach within a reasonable time period;

	 	(iii)	 	if, a court of competent jurisdiction enters a decree or order
for relief in respect of ARC II in any involuntary case under the applicable
bankruptcy, insolvency or other similar law now or hereafter in effect, or
appoints a receiver, liquidator, assignee, custodian, trustee, sequestrator (or
similar official) of ARC II or for any substantial part of its property or
orders the winding up or liquidation of ARC II’s affairs;

	 	(iv)	 	if, ARC II commences a voluntary case under any applicable
bankruptcy, insolvency or other similar law now or hereafter in effect, or
consents to the entry of an order for relief in an involuntary case under any
such law, or consents to the appointment of or taking possession by a receiver,
liquidator, assignee, custodian, trustee, sequestrator (or similar official) of
ARC II or for any substantial part of its property, or makes any general
assignment for the benefit of creditors, or fails generally to pay its debts as
they become due; or

ARC II agrees that if any of the events specified in subsections
(iii) or (iv) above occur, it will give written notice thereof
to the REIT within seven (7) days after the occurrence of such event.

(c) Termination by ARC II. At the sole option of ARC II, ARC II may (i) terminate
this Agreement for any reason or no reason, at any time after the one (1) year anniversary
of the Effective Date upon at least ninety (90) days written notice, which notice shall not
be permitted prior to the one (1) year anniversary of the Effective Date, or (ii) terminate
this Agreement for “Good Reason” (as defined below) immediately, subject to any
applicable notice and cure period.

As used above, “Good Reason” shall mean fraud, criminal conduct or willful
misconduct, or a material breach of this Agreement by the REIT, provided that (i) the REIT
does not cure any such material breach within thirty (30) days of receiving notice of such
material breach from ARC II, or (ii) if such material breach is not of a nature that can be
remedied within such period, the REIT does not diligently take all reasonable steps to cure
such breach or does not cure such breach within a reasonable time period.

	10.	 	Representations and Warranties of ARC II. As an inducement to the REIT entering into
this Agreement, ARC II hereby represents and warrants to the REIT that:

(a) Skilled Personnel and Adequate Staffing. ARC II has and will at all times
maintain an adequate number of skilled and licensed employees to professionally carry out
the services for which ARC II is being engaged consistent with third party service providers
to a real estate investment trust of the size and nature as the REIT. In addition, ARC II
shall at all times maintain an adequate number of skilled and licensed employees to perform
any or all of the Specific Services set forth in this agreement and shall be available upon
advance written notice by the REIT to have such employees, as well as all necessary systems,
equipment, software and other appropriate items available to perform such services as
requested by the REIT from time to time consistent with third party service providers to a
real estate investment trust of the size and nature as the REIT.

(b) Standby Employees. To the extent the REIT has not elected ARC II to provide any
Specific Services, ARC II shall nevertheless maintain adequate staffing levels such that ARC
II can deploy an adequate amount of skilled personnel, staff and other human and physical
resources to diligently pursue the completion of any such Specific Services for the REIT
pursuant to the terms of this Agreement upon reasonable advance written notice, but in no
event later than forty-five (45) days after such advance written notice.

(c) Completion. ARC II shall diligently pursue the completion of the services for
which ARC II was engaged and shall make its personnel and the personnel of its affiliates
available to the REIT to the extent necessary in order that its obligations hereunder may be
fully discharged in a timely and first class manner.

(d) Time Commitment. ARC II shall fully and faithfully discharge its obligations
and responsibilities, and shall devote such time and attention to the REIT’s affairs as may
be necessary to carry out the services for which ARC II is engaged under this Agreement.

(e) Standard of Care. ARC II shall, at all times, have a duty to exercise good
faith, in compliance with the terms of this Agreement, and shall use diligent and
professional efforts in performing the services hereunder consistent with industry
standards.

(f) Litigation. There is no litigation, arbitration or reference proceeding pending
or, to ARC II’s knowledge, threatened against ARC II, against ARC II with respect to ARC
II’s executive management team, or which could prevent or materially impair the ability of
ARC II to perform its duties and obligations under this Agreement.

(g) No Violations or Investigations. No proceeding is or was pending against ARC II,
nor to the knowledge of ARC II has there been any investigations or any threatened
proceeding involving or alleging violations of any federal securities laws, FINRA rules,
Blue Sky laws or any other applicable laws or regulations.

(h) Salaries. ARC II acknowledges the ARC II is responsible for payment of the
salaries of its own employees.

(i) Financial Status. ARC II has a net worth in an amount sufficient to
meet its anticipated operating expenses for the following twelve (12) month period.

	11.	 	Covenants of ARC II. ARC II covenants and agrees with the REIT as follows:

(a) Key Persons. ARC II agrees to take reasonable steps to retain Nicholas S.
Schorsch, and William M. Kahane (each, a “Key Employee,” and collectively, the
“Key Employees”) so that they are available to provide ongoing non-exclusive
services (consistent with this Agreement) for the benefit of the REIT during the term of
this Agreement and for any remaining services to be provided thereafter by ARC II. The REIT
acknowledges that such Key Employees are at-will employees and will, subject to the
limitations set forth in Section 6 above, be providing services to other investment
programs managed by ARC II and its affiliates.

(b) Maintenance of Personnel and Staff. ARC II agrees to maintain an adequate
number of skilled and licensed employees to carry out professionally the services for which
ARC II is being engaged consistent with third party service providers providing similar
services to real estate investment trusts of similar size and nature as the REIT. In
addition, ARC II shall be available upon reasonable advance written notice by the REIT to
have such employees, as well as all necessary systems, equipment, software and other
appropriate items available to perform such services as requested by the REIT from time to
time consistent with third party service providers proving similar services to real estate
investment trusts of similar size and nature as the REIT.

(c) Specific Services Agreements. To the extent the REIT: (i) requests that ARC II
provide Property Management Services for the REIT, the parties shall enter into a Property
Management Agreement, subject to the terms and conditions set forth on the attached
Exhibit C; (ii) requests that ARC II provide Acquisition and/or Disposition
Services for the REIT, the parties shall enter into a Real Estate Services Agreement,
subject to the terms and conditions set forth on the attached Exhibit D; (iii)
requests that ARC II provide Asset Accounting Services for the REIT, the parties shall enter
into a Asset Accounting Services Agreement, subject to the terms and conditions set forth on
the attached Exhibit E.

(d) Cooperation. ARC II shall use good faith reasonable efforts to fully cooperate
with the REIT, REIT Advisor and GERI, and any other party that may be necessary to
accomplish an orderly transfer and transition of the operation and management of services
ARC II will provide to the REIT under this Agreement. ARC II shall also use good faith
reasonable efforts to cooperate with the REIT, at the REIT’s expense, to provide an orderly
transfer and transition of services upon the expiration or earlier termination of this
Agreement and shall provide any and all documents, reports and materials belonging or
related to the services provided to the REIT hereunder, including any and all other
documents, reports and materials otherwise belonging or related to the REIT. Furthermore,
ARC II will, whenever and as reasonably requested to execute, acknowledge and deliver, or
cause to be executed, acknowledged and delivered any documents that may be necessary to
transition efficiently any services covered under this Agreement.

(e) Performance Monitoring. The REIT shall have the right, but not the obligation,
to meet with key personnel and/or other executive level employees of ARC II on an ongoing
and regular basis to provide feedback and input regarding the performance of ARC II’s
services hereunder. ARC II shall provide any and all non-proprietary information requested
by the REIT in connection with the services being provided under this Agreement at any time
and from time to promptly upon request therefor to the extent not confidential and
proprietary to ARC II’s business.

(f) Records and Report. ARC II shall maintain appropriate records of all its
activities hereunder and shall, at the REIT’s election, provide copies of such records to
the REIT or make such records available for inspection and duplication by the REIT, its
counsel, auditors and authorized agents, upon notice from the REIT.

	12.	 	Covenants of the REIT. The REIT covenants and agrees with ARC II as follows:

(a) Cooperation. The REIT shall cooperate in good faith with ARC II to provide an
orderly transition of services upon the expiration or earlier termination of this Agreement.

(b) Performance Monitoring. ARC II shall have the right, but not the obligation, to
meet with key personnel of the REIT on an ongoing and regular basis to provide feedback and
input regarding advisory services being provided to the REIT

(c) Non-Solicitation. During the Term and for twelve (12) months thereafter, the
REIT and its subsidiaries shall not, without the prior written consent of ARC II, directly
or indirectly, solicit or contact for purposes of employment, offer to hire, entice away,
employ, or enter into any contract with any officer or employee of ARC II or any of its
affiliates, or otherwise solicit, induce or otherwise encourage any such person to
discontinue, cancel or refrain from entering into any relationship (contractual or
otherwise) with ARC II or any of its affiliates, provided that this restriction shall not
be deemed to prohibit general solicitations not specifically targeted at employees of ARC II
and its affiliates.

	13.	 	Intellectual Property Rights. Upon payment therefor, all work product prepared by ARC
II for the REIT and software purchased for the REIT at the REIT’s request and the purchase
price of which is reimbursed by the REIT shall become the sole and exclusive property of the
REIT. Notwithstanding the foregoing, ARC II shall not have any right, title and interest in
and to, and has not been granted any license to use, any intellectual property of the REIT.

	14.	 	Authority of ARC II. ARC II is not authorized to bind the REIT or to enter into any
agreements relative to the REIT, and is to act only as a consultant to the REIT, unless
otherwise set forth in an instrument executed by an authorized representative of the REIT.

	15.	 	Limitations on Activities.

(a) Anything else in this Agreement to the contrary notwithstanding, ARC II shall refrain
from taking any action which, in its sole judgment made in good faith, would (a) adversely
affect the status of the REIT as a real estate investment trust, (b) subject the REIT to
regulation under the Investment Company Act of 1940, as amended, or (c) violate any law,
rule, regulation or statement of policy of any governmental body or agency having
jurisdiction over the REIT, its Shares or its other securities, or otherwise not be
permitted by the Articles of Incorporation or Bylaws of the REIT, except if such action
shall be ordered by the REIT, in which case ARC II shall notify promptly the REIT of ARC
II’s judgment of the potential impact of such action and shall refrain from taking such
action until it receives further clarification or instructions from the REIT. In such event
ARC II shall have no liability for acting in accordance with the specific instructions of
the REIT so given.

(b) Anything else in this Agreement to the contrary notwithstanding, the REIT shall refrain
from taking any action which, in its sole judgment made in good faith, would: (a) adversely
affect the status of the REIT as a real estate investment trust; (b) subject the REIT to
regulation under the Investment Company Act of 1940, as amended; or (c) violate any law,
rule, regulation or statement of policy of any governmental body or agency having
jurisdiction over the REIT, its Shares or its other securities, or otherwise not be
permitted by the Articles of Incorporation or Bylaws of the REIT.

	16.	 	Existing Agreements. ARC II hereby acknowledges that the REIT is currently (or was
recently) a party to various agreements, including, without limitation, the Advisory Agreement
and that certain Dealer Manager Agreement dated September 20, 2006 by and between the REIT and
Grubb & Ellis Securities, Inc. Such agreements contain various rights and obligations, which
are not to be affected in any way by this Agreement. Nothing herein is intended to require or
promote any action contrary to such agreements.

	17.	 	Miscellaneous.

(a) Survival. The provisions of Sections 2, 3, 6,
8, 11(d), 12(a), 12(c), 13, 16, and
17 and Exhibit B and Exhibit F shall survive the expiration of this
Agreement.

(b) Notices. All notices or other communications required or permitted hereunder,
except as herein otherwise specifically provided, shall be in writing and shall be deemed
given or delivered: (a) when delivered personally or by commercial messenger; (b) one
business day following deposit with a recognized overnight courier service, provided such
deposit occurs prior to the deadline imposed by such service for overnight delivery; or (c)
when transmitted, if sent by facsimile copy, provided confirmation of receipt is received by
sender and such notice is sent by an additional method provided hereunder, in each case
above provided such communication is addressed to the intended recipient thereof as set
forth below:

	 	 	 
	If to the REIT:
	 	Grubb & Ellis Healthcare REIT, Inc.

The Promenade, Suite 440

16427 North Scottsdale Road

Scottsdale, AZ 85254

Facsimile No.: (480) 991-0755

Attention: Scott D. Peters, Chief

Executive Officer

	With Required Copy to:
	 	Cox, Castle & Nicholson LLP

2049 Century Park East, 28th Floor

Los Angeles, CA 90067

Facsimile No.: (310) 277-7889

Attention: John F. Nicholson

	If to ARC II:
	 	American Realty Capital II, LLC,

405 Park Avenue, 15th Floor

New York, New York 10022

Facsimile No.: (212)421-5799

Attention: William M. Kahane

Chief Operating Officer

Any party may change its address specified above by giving each party notice of such change
in accordance with this Section 17 (b).

(c) Relationship of ARC II and the REIT. The REIT and ARC II are not partners or
joint venturers with each other, and nothing in this Agreement shall be construed to make
them such partners or joint venturers or impose any liability as such on any of them.

(d) No Third Party Beneficiaries. The parties to this Agreement do not intend any
person or entity not a party of this Agreement to be a beneficiary of any provision of this
Agreement, and no provision of this Agreement shall be interpreted or construed as being for
the benefit of any third party, and no third party shall by virtue of any provision
contained herein be entitled to rely hereon or have a claim under this Agreement or with
respect to the services provided pursuant to this Agreement.

(e) Successors and Assignment. No party shall assign (voluntarily, by operation of
law or otherwise) this Agreement or any right, interest or benefit under this Agreement
without the prior written consent of each other party. Subject to the foregoing, this
Agreement shall be fully binding upon, inure to the benefit of, and be enforceable by, the
parties hereto and their respective successors and assigns.

(f) Entire Agreement. This Agreement, including all Exhibits attached hereto,
constitute the entire agreement and understanding among the parties hereto with respect to
the subject matter hereof, and supersedes all prior and contemporaneous agreements,
understandings, inducements and conditions, express or implied, oral or written, of any
nature whatsoever with respect to the subject matter hereof. The express terms hereof
control and supersede any course of performance and/or usage of the trade inconsistent with
any of the terms hereof. This Agreement may not be modified or amended other than by an
agreement in writing.

(g) Waivers. Neither the failure nor any delay on the part of a party to exercise
any right, remedy, power or privilege under this Agreement shall operate as a waiver
thereof, nor shall any single or partial exercise of any right, remedy, power or privilege
preclude any other or further exercise of the same or of any other right, remedy, power or
privilege, nor shall any waiver of any right, remedy, power or privilege with respect to any
occurrence be construed as a waiver of such right, remedy, power or privilege with respect
to any other occurrence. No waiver shall be effective unless it is in writing and is signed
by the party asserted to have granted such waiver.

(h) Amendments and Modifications. This Agreement, including all exhibits attached
hereto, and any rights, duties or obligations hereunder may not be waived, amended, modified
or assigned, in any way, in whole or in part, including by operation of law, without the
prior written consent of, and shall inure to the benefit of and be binding upon the
successors, assigns and personal representatives of, each of the parties hereto.

(i) Invalidity. In case any provision of this Agreement shall be invalid, illegal
or unenforceable, the validity, legality and enforceability of the remaining provisions of
this Agreement shall not in any way be affected or impaired thereby.

(j) Applicable Law. THIS AGREEMENT AND ANY CLAIM OR DISPUTE OF ANY KIND OR NATURE
WHATSOEVER ARISING OUT OF, OR RELATING TO, THIS AGREEMENT OR ARC II’S ENGAGEMENT HEREUNDER,
DIRECTLY OR INDIRECTLY (INCLUDING ANY CLAIM CONCERNING ADVICE PROVIDED PURSUANT TO THIS
AGREEMENT), SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
DELAWARE.

(k) Waiver. EACH OF ARC II AND THE REIT WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY
ACTION, SUIT, PROCEEDING OR COUNTERCLAIM (WHETHER BASED UPON CONTRACT, TORT OR OTHERWISE)
RELATED TO OR ARISING OUT OF THIS AGREEMENT. ARC II and the REIT each hereby irrevocably
submits to the jurisdiction of the courts of the State of Delaware and the Federal courts of
the United States of America located in Delaware, in respect of the interpretation and
enforcement of the terms of this Agreement, and in respect of the transactions contemplated
hereby, and each hereby waives, and agrees not to assert, as a defense in any action, suit
or proceeding for the interpretation or enforcement hereof, that it is not subject thereto
or that such action, suit or proceeding may not be brought or is not maintainable in said
courts or that the venue thereof may not be appropriate or that this Agreement may not be
enforced in or by such courts, and ARC II and the REIT each hereby irrevocably agrees that
all claims with respect to such action or proceeding shall be heard and determined in such a
Delaware State or Federal court.

(l) Dispute Resolution. In the event that any dispute or disagreement arises
between the parties in connection with any provision of this Agreement, the parties shall
first submit such disagreements to mediation. Either party may commence mediation by
providing to JAMS and the other party a written request for mediation, setting forth the
subject of the dispute and the relief requested. The parties will cooperate with JAMS and
with one another in selecting a mediator from JAMS panel of neutrals, and in scheduling the
mediation proceedings. The parties will share equally in the costs of mediation. All offers,
promises, conduct and statements, whether oral or written, made in the course of the
mediation by any of the parties, their agents, employees, experts and attorneys, and by the
mediator or any JAMS employees, are confidential, privileged and inadmissible for any
purpose, including impeachment, in any proceeding involving the parties, provided that
evidence that is otherwise admissible or discoverable shall not be rendered inadmissible or
non-discoverable as a result of its use in the mediation. Either party may commence a legal
action with respect to the matters submitted to mediation at any time following the initial
mediation session or 45 days after the date of filing the written request for mediation,
whichever occurs first.

(m) Attorneys’ Fees. In the event a dispute arises concerning the performance,
meaning or interpretation of any provision of this Agreement or any document executed in
connection with this Agreement, the prevailing party in such dispute shall be awarded any
and all costs and expenses incurred by the prevailing party in enforcing, defending or
establishing its rights hereunder or thereunder, including, without limitation, court costs
and attorneys and expert witness fees. In addition to the foregoing award of costs and
fees, the prevailing party shall also be entitled to recover its attorneys’ fees incurred in
any post judgment proceedings to collect or enforce any judgment.

(n) Confidentiality. Each party to this Agreement and its representatives shall
hold in confidence all data and information obtained from the other party to this Agreement
or its agent with respect to the REIT, ARC II or their business (other than data and
information which is publicly available), whether obtained before or after the execution and
delivery of this Agreement, and shall not disclose the same to others; provided,
however, that each party may disclose any data and information to its employees,
officers, directors, consultants, accountants and attorneys who are assisting in the
performance of its obligations under this Agreement, in each case who are advised that such
data and information is confidential and are directed to keep such information confidential,
except to the extent (a) required by a court order, governmental agency, including, the
Securities and Exchange Commission, regulatory body or by law, or (b) in connection with any
legal proceeding concerning this Agreement. Upon the expiration or earlier termination of
this Agreement, each party to this Agreement shall promptly return to the other party to
this Agreement all statements, documents, schedules, exhibits or other written information
obtained in connection with this Agreement or the transactions contemplated in this
Agreement unless otherwise specifically provided herein. In the event of a breach or
threatened breach by either party hereto (or its respective agents or representatives) of
this Section 17(n), the other party shall be entitled to an injunction restraining
the party breaching or threatening to breach this Section 17(n) (or its respective
agents or representatives) from disclosing, in whole or in part, such confidential
information. Nothing herein shall be construed as prohibiting either party hereto from
pursuing any other available remedy at law or in equity for such breach or threatened
breach. The provisions of this Section 17(n) shall survive expiration or early
termination of this Agreement.

(o) Remedies 

(i) ARC II agrees that if ARC II should breach its covenants under this Agreement,
in addition to any other available rights or remedies the REIT may have under the
terms of this Agreement, the REIT may sue in equity for specific performance, and
ARC II expressly waives the defense that a remedy in damages will be adequate.

(ii) In the event that any amount is due and owing from ARC II to the REIT, as
evidenced by a final judgment of a court of competent jurisdiction, the REIT may
setoff the amount due against any amount due under Exhibit B on account of
the ASIP.

(iii) The REIT agrees that neither ARC II nor any of the ARC II Indemnitees (as
defined in Exhibit F) shall have any liability (whether direct or indirect,
in contract or tort or otherwise) to the REIT or any person asserting claims on
behalf of or in right of the REIT, directly or indirectly, arising out of, or
relating to, this Agreement or ARC II’s services hereunder, unless such liability
resulted from breach of this Agreement (in the case of ARC II) or from the gross
negligence or willful misconduct of the ARC II Indemnitees, provided that this
limitation shall not apply to the indemnification obligations set forth in
Exhibit F (except to the extent included in Exhibit F) or ARC II’s
failure to provide a Specific Service when requested in accordance with the terms of
this Agreement (and provided that this limitation shall not apply to the Specific
Services which shall be governed by the customary terms applicable to the Specific
Service, as set forth in the agreement with respect thereto).

(iv) Except as otherwise specifically provided in this Agreement, regardless of the
legal theory advanced, in no event shall (a) any REIT Indemnitee be liable to ARC II
or any person asserting claims on behalf of or in the right of ARC II, for any
consequential, indirect, incidental or special damages of any nature, except to the
extent covered under the REIT’s insurance policies and (b) any ARC II Indemnitee be
liable to the REIT or any person asserting claims on behalf of or in the right of
the REIT for any consequential, indirect, incidental or special damages of any
nature, except to the extent covered under ARC II’s insurance policies; provided
that these limitations shall not apply to ARC II’s willful failure to provide the
REIT with any or all of the Specific Services upon the REIT’s request in accordance
with the terms of this Agreement (and provided that this limitation shall not apply
to the Specific Services which shall be governed by the customary terms applicable
to the Specific Service, as set forth in the agreement with respect thereto).

(p) Counterparts. This Agreement may be executed in any number of counterparts,
each of which shall be deemed to be an original as against any party whose signature appears
thereon, and all of which shall together constitute one and the same instrument. This
Agreement shall become binding when one or more counterparts hereof, individually or taken
together, shall bear the signatures of all of the parties reflected hereon as the
signatories.

[Signatures on next page]

IN WITNESS WHEREOF, the parties hereto have executed this Services Agreement as of the date
first above written.

AMERICAN REALTY CAPITAL ADVISORS II, LLC,

a Delaware limited liability company

By: /s/ William M. Kahane

William M. Kahane, President,

Chief Operating Officer and Treasurer

GRUBB & ELLIS HEALTHCARE REIT, INC.,

a Maryland corporation

By: /s/ Scott Peters

Scott Peters, Chief Executive Officer,

President and Chairman

Exhibit A to Services Agreement

GENERAL CONSULTING SERVICES

Provide pertinent advice, guidance and information to the REIT in connection with:

	 	•	 	Industry developments

	 	•	 	Real estate markets

	 	•	 	Financing environment and credit markets

	 	•	 	Government regulations

	 	•	 	Economic conditions

	 	•	 	Demographic data

Exhibit B to Services Agreement

ARC II SUBORDINATED INCENTIVE PAYMENT (ASIP)

A. Definitions.

“Follow-On Net Sales Proceeds” shall mean the net sales proceeds from the sales of
properties acquired by the REIT, using funds raised in the Follow-On Offering (the “Follow-On
Assets”) (it being understood that funds from the Company’s initial public offering will be
invested prior to the investment of Funds from the Follow On Offering) remaining after the REIT has
made distributions to its stockholders of the total amount raised from stockholders in the
Follow-On Offering (less amounts paid to repurchase shares pursuant to our share repurchase plan),
plus an amount equal to an annual 8.0% cumulative, non-compounded return on such average invested
capital.

“Follow-On Realized Appreciation” shall mean the amount by which (1) the appraised
value of the Follow-On Assets at listing plus distributions paid prior to listing exceeds (2) the
sum of the total amount of capital raised from the REIT’s stockholders in the Follow-On Offering
(less amounts paid to repurchase shares pursuant to our share repurchase plan) plus an amount of
cash that, if distributed to stockholders as of the date of listing, would have provided them an
annual 8.0% cumulative, non-compounded return on such average invested capital.

“Total Stockholder Return” shall mean an amount equal to the total amount raised from
stockholders, including amounts raised during the Company’s initial offering, plus an amount equal
to an 8% cumulative, non-compounded return on average invested capital received from stockholders,
including amounts raised during the Company’s initial offering.

B. ASIP. Subject to the “Payment Schedule” section below, as consideration for (i)
providing the General Consulting Services to the REIT and (ii) making itself available to provide
the Specific Services in accordance with the terms and conditions of this Agreement to which this
Exhibit B is attached and hereby made a part, the REIT agrees to pay ARC II the following
amounts.

	 	1.	 	In connection with a liquidation or the sale of the assets of the
REIT, ARC II shall be entitled to receive an amount equal to 1.5% of the
Follow-On Net Sales Proceeds; provided that the ASIP shall be subject and
subordinate to the Total Stockholder Return and pursuant to such subordination,
the payment of same shall be subject to the REIT having made distributions to
its stockholders of the total amount raised from stockholders (including amounts
raised during the initial offering, less amounts paid to repurchase shares
pursuant to our share repurchase plan), plus an amount equal to 8.0% cumulative,
non-compounded return on average invested capital. The ASIP shall be subject to
adjustment as set forth in Section C below.

	 	2.	 	In connection with a listing event (i.e., the listing of the
Shares of the REIT on a national securities exchange), ARC II shall be entitled
to receive an amount equal to 1.5% of the Follow-On Realized Appreciation;
provided that the ASIP shall be subject and subordinate to the Total Stockholder
Return and pursuant to such subordination, the payment of same shall be subject
to ARC II only being entitled to receive such amount if the appraised value of
all of the REIT’s assets as of the date of the listing event, less any
indebtedness secured by such assets, plus the cumulative distributions made by
the REIT to its stockholders from the inception of the REIT through the date of
the listing event, exceeds the sum of the total amount of capital raised from
the REIT’s stockholders (less amounts paid to repurchase shares pursuant to our
share repurchase plan) plus an amount of cash that, if distributed to
stockholders as of the date of listing, would have provided them an annual 8.0%
cumulative, non-compounded return on average invested capital. Notwithstanding
the foregoing. The ASIP shall be subject to adjustment as set forth in
Section C below.

C. The ASIP shall be subject to adjustment as follows:

	 	a.	 	except as set provided in paragraph (c) below, in the
event the REIT terminates this Agreement pursuant to Section
9(b)(iv), ARC II shall be entitled to receive an amount equal to 1.5%
of the Applicable Percentage (as defined below) of the Follow-On Net Sales
Proceeds or the Follow-On Realized Appreciation, as applicable;

	 	b.	 	in the event the REIT terminates this Agreement
pursuant to Section 9(b)(iii), ARC II shall be entitled to receive
an amount equal to 1.0% of the Applicable Percentage of the Follow-On Net
Sales Proceeds or the Follow-On Realized Appreciation, as applicable;

	 	c.	 	in the event the REIT terminates any other agreement
between the REIT and ARC II or an affiliate of ARC II (other than any
agreement entered into for services pursuant to Section 2 of this
Agreement) as a result of fraud, criminal conduct or willful misconduct,
then, notwithstanding any other provisions herein to the contrary, ARC II
shall not be entitled to any ASIP; and

	 	d.	 	in the event the REIT terminates this Agreement
pursuant to Section 9(b)(ii), ARC II shall be entitled to receive
an amount equal to 1.4% of the Follow-On Net Sales Proceeds or the Realized
Appreciation, as applicable.

“Applicable Percentage” shall mean a percentage equal to the total amount of gross
proceeds received by the REIT in the Follow-On offering through the date of termination of this
Agreement (excluding any amounts received pursuant to the distribution reinvestment plan) divided
by the total amount of gross proceeds received by the REIT pursuant to the Registration Statement
in the Follow-On Offering (excluding any amounts received pursuant to the distribution reinvestment
plan).

D. Payment Schedule. The REIT shall pay the ASIP, if any, to ARC II within five (5)
business following the occurrence of any one of the following events: (i) the REIT is first listed
on a national securities exchange, (ii) the REIT liquidates all of its properties or (iii) all or a
portion of the REIT’s assets are sold for value to a third party.

E. In connection with the ASIP, ARC II and the REIT hereby acknowledges and agrees as follows:

	 	1.	 	(a) ARC II has not received and the REIT has not provided any
assurance or representation of any kind relating to the ASIP; (b) the REIT has
not provided ARC II with a guaranty or an expectation of any minimum level of
ASIP; (c) neither the REIT nor any director, officer, stockholder, partner,
member, employee, trustee, representative or agent of the REIT shall have any
liability or responsibility to ARC II for any act or omission performed or failed
to be performed by it, or for any losses, claims, costs, damages, or liabilities
arising from any such act or omission relating to the acquisition, management,
operation, or disposition of the REIT’s assets; (d) the REIT shall have full
power, authority, discretion and control with respect to its assets; (e) the
ASIP, if any, is and shall be deemed to be a contingent interest; and (f) any
rights of ARC II to the ASIP, if any, are personal to ARC II and, notwithstanding
any other provisions herein to the contrary, may not be assigned by ARC II except
to an affiliate or successor entity. The foregoing provisions are of material
importance to the REIT. ARC II acknowledges and agrees that the REIT has agreed
to payment of the ASIP (subject to the provisions herein), if any, in reliance of
ARC II’s agreement to the foregoing provisions.

	 	2.	 	The ASIP, if any, shall be payable pari passu with the
“Management Subordinated Participation Interest” described in the
Registration Statement and shall be payable in the same manner as such interest.
If there is not a sufficient amount available to distribute to ARC II and the
Management Subordinated Participation Interest, the amount available shall be
distributed to ARC II and with respect to the Management Subordinated
Participation Interest pro rata in accordance with the amount due.

	 	3.	 	Neither the termination of this Agreement for any reason by either
party, nor any breach of this Agreement by ARC II, shall affect the REIT’s
obligations to pay to ARC II the ASIP in accordance with and subject to the
conditions contained in paragraphs (B) and (C) of this Exhibit B, subject
to the setoff rights in Section 17(n)(ii).

Exhibit C to Services Agreement

PROPERTY MANAGEMENT TERM SHEET

1. Scope. Property Management Services will include, but shall not be limited to, the
following:

	 	•	 	Collection of all rents as they become due, giving receipts therefore and rendering to
the REIT a monthly accounting of rents received and expenses paid out; remitting to the
REIT all income, less any sums paid out;

	 	•	 	Making or causing to be made all decorating, maintenance, alterations and repairs to the
property and hiring and supervising all employees and other labor for the accomplishment of
same;

	 	•	 	Advertising the property and displaying signs thereon; leasing the property; executing
and terminating rental agreements and leases for the property, or any part thereof; suing
and recovering rent and for loss or damage to any part of the property and/or furnishings
thereof; and, when expedient, prosecuting, compromising and releasing any such legal
proceedings or lawsuits.

2. Term & Termination. One (1) year term, automatic renewal unless either party gives
written termination notice to the other party sixty (60) days prior to each yearly anniversary.

3. Property Management Fee. 2.73% on “Gross Income.”

4. Payment Schedule. The Property Management Fee shall be paid to ARC II monthly, in
arrears.

5. Termination. Early termination only for “Good Reason” or for “Cause” as defined in the
Services Agreement.

6. Definition. For purposes of this term sheet:

“Gross Income” shall mean all cash receipts derived from the operation of any property,
excluding (i) tenant security deposits unless and until such deposits are forfeited upon a tenant
default and (ii) proceeds from insurance claims, condemnation proceedings, sales or refinancings.

Exhibit D to Services Agreement

REAL ESTATE SERVICES TERM SHEET

1. Scope. Provide services in connection with the acquisition and disposition of assets.

2. Term. One (1) year term, automatic renewal unless either party gives written
termination notice to the other party sixty (60) days prior to each yearly anniversary.

3. Fees.

(a) Acquisition Fee. If the acquisition is originated by ARC II, 1.125% on the
“Contract Purchase Price” or, if acquisition is not originated by ARC II, 0.45% on the “Contract
Purchase Price” for due diligence, data collection and uploading property/accounting information.
The term “Contract Purchase Price” shall include, but not be limited to, any third party broker
fees.

(b) Disposition Fee. 1.00% of the “Contract Sales Price,” not to exceed 50% of a
“Competitive Real Estate Commission.”

	4.	 	Payment Schedule.

(a) Acquisition Payment. The Acquisition Fee shall be paid at the time the
transaction closes directly out of escrow.

(b) Disposition Payment. The Disposition Fee shall be paid at the time the
transaction closes directly out of escrow.

5. Termination. Early termination only for “Good Reason” or for “Cause” as defined in the
Services Agreement.

6. Definitions. For purposes of this term sheet:

“Competitive Real Estate Commission” shall mean a real estate or brokerage commission for the
purchase or sale of a property which is reasonable, customary, and competitive in light of the
size, type, and location of the property.

“Contract Purchase Price” shall mean the amount actually paid or allocated in respect of the
purchase, development, construction or improvement of a Property, in each case exclusive of
Acquisition Fees and acquisition expenses.

“Contract Sales Price” shall mean the total consideration received by the REIT for the sale of
a property exclusive of the applicable Disposition Fee.

Exhibit E to Services Agreement

ASSET ACCOUNTING SERVICES TERM SHEET

1. Scope. Asset accounting services, including, but not limited to, property level
accounting, preparation of payables and receivables schedules, property P&Ls, balance sheets, cash
reconciliation through general ledger, excluding corporate accounting, roll up and SEC filings, and
any other typical accounting services.

2. Term. One (1) year term, automatic renewal unless either party gives written
termination notice to the other party sixty (60) days prior to each yearly anniversary.

3. Asset Accounting Fee. 0.22% on “Average Invested Assets.”

4. Payment Schedule. The Asset Accounting Fee shall be paid to ARC II monthly, in
arrears.

5. Termination. Early termination only for “Good Reason” or for “Cause” as defined in the
Services Agreement.

6. Definitions. For purposes of this term sheet:

“Average Invested Assets” shall mean, for a specified period, the average of the aggregate
value of the assets of the REIT on the books of the REIT, before allowance for depreciation or
amortization, invested, directly or indirectly, in properties and other real estate related assets,
before reserves for depreciation, bad debts or other similar non-cash reserves, computed by taking
the average of such values at the end of each month during such period.

Exhibit F to Services Agreement

INDEMNIFICATION

1. Indemnification by the REIT. The REIT shall indemnify and hold harmless ARC II and
its affiliates, including their respective officers, directors, partners, members and employees
(collectively, the “ARC II Indemnitees”) from all liability, claims, damages or losses
arising in the performance of their duties under that certain Services Agreement (the
“Agreement”) to which this Exhibit C is attached and hereby made a part, and
related expenses, including reasonable attorneys’ fees to the extent such liability, claims,
damages or losses and related expenses are not fully paid or reimbursed by insurance, subject to
any limitations imposed by the laws of the State of Maryland and the Articles of Incorporation.
The foregoing indemnity shall extend to any litigation arising out of the REIT’s past, present or
future relationship, contractual or otherwise, with Grubb & Ellis Company and its affiliates,
subsidiaries and related entities and relating to the arrangement pursuant to this Agreement and
any other Agreement between ARC II and its affiliates and the REIT. Any indemnification of ARC II
may be made only out of the net assets of the REIT and not from stockholders.

The REIT shall indemnify and hold harmless ARC II Indemnitees pursuant to this Section
1 subject to the following limitations:

(a) The REIT shall not indemnify nor hold harmless any ARC II Indemnitee for any liability,
claims, damages, losses or related expenses arising from or out of ARC II’s bad faith, fraud,
willful misfeasance or willful misconduct.

(b) The REIT shall not provide indemnification to any ARC II Indemnitee for any liability,
claims, damages, losses or related expenses arising from or out of an actual or alleged violation
of federal or state securities laws by such ARC II Indemnitee unless one or more of the following
conditions are met: (i) there has been a successful final adjudication on the merits in favor of
the ARC II Indemnitee of each count involving alleged material securities law violations as to the
ARC II Indemnitee, (ii) such claims have been dismissed with prejudice on the merits by a court of
competent jurisdiction as to the ARC II Indemnitee, or (iii) a court of competent jurisdiction
approves a settlement of the claims against the ARC II Indemnitee and finds that indemnification of
the settlement and the related costs should be made, and the court considering the request for
indemnification has been advised of the position of the Securities and Exchange Commission and of
the published position of any state securities regulatory authority in which securities were
offered or sold as to indemnification for violations of securities laws.

(c) The REIT shall pay or reimburse reasonable legal expenses and other costs incurred by an
ARC II Indemnitee in advance of final disposition of a proceeding if all of the following are
satisfied: (i) the ARC II Indemnitee provides the REIT with written affirmation of the ARC II
Indemnitee’s good faith belief that the ARC II Indemnitee has met the standard of conduct necessary
for indemnification by the REIT as authorized by this Section 1, and (ii) the ARC II
Indemnitee provides the REIT with a written agreement to repay the amount paid or reimbursed by the
REIT, together with the applicable legal rate of interest thereon, if it is ultimately determined
that the ARC II Indemnitee did not comply with the requisite standard of conduct and is not
entitled to indemnification by a final judgment of a court of competent jurisdiction.

(d) Notwithstanding any other provision herein to the contrary, the REIT’s indemnification
obligations shall be subject to Section 6(b) of the Agreement.

2. Indemnification by ARC II. ARC II hereby agrees to indemnify the REIT, its
affiliates, including, without limitation, any controlling person of the REIT and affiliated
companies, and each of the directors, officers, members, employees, agents, affiliates and
representatives of each of the foregoing (collectively, the “REIT Indemnitees”) and to hold
each of the REIT Indemnitees harmless against any and all contract, tort or other losses, claims,
damages, expenses, liabilities and related expenses, joint or several (collectively,
“Liabilities”) for which any of the REIT Indemnitees may become liable, directly or
indirectly, arising out of, or relating to, the Agreement or ARC II’s services (or ARC II’s failure
to provide any or all of the Specific Services) thereunder, only in the event and to the extent it
is finally judicially determined that the Liabilities arose from or out of (a) ARC II’s bad faith,
fraud, willful misfeasance, willful misconduct, or gross negligence or (b) ARC II’s failure to
provide the REIT with any or all of the Specific Services upon the REIT’s request in accordance
with the terms and conditions of the Agreement (it being understood that after the parties enter
into an agreement with respect to the Specified Services, the terms and conditions of the Specified
Services, including indemnification will be governed by such agreement). ARC II further jointly
and severally agrees to reimburse each REIT Indemnitee immediately upon request for all expenses
(including reasonable attorneys’ fees and expenses) as they are incurred in connection with the
investigation of, preparation for, defense of, or providing evidence in, any action, claim, suit,
proceeding or investigation (each and collectively, an “Action”), directly or indirectly
arising out of, or relating to, the Agreement or ARC II’s services thereunder, whether or not
pending or threatened, and whether or not any REIT Indemnitee is a party to such Action.

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