Document:

Form of Employment Agreement  / Nicholas J. Rhodes

 Exhibit 10.11 

EMPLOYMENT AGREEMENT 

THIS AGREEMENT (this “Agreement”) is made and entered into as of this      day of
            , 2010 (the “Effective Date”) by and between US Federal Properties Partnership, LP, a Delaware limited partnership (“OP”), US Federal
Properties Trust, Inc., a Maryland corporation (“REIT,” and together with OP, the “Company”), and Nicholas J. Rhodes, an individual (the “Executive”). 

WHEREAS, the OP has determined it to be in its best interests to secure the employment of the Executive and to enter into this
Agreement pertaining to the employment of the Executive upon and following the Effective Date; and 
 WHEREAS, the
Executive desires to be so employed by the OP; and 
 WHEREAS, this Agreement shall become effective as of the Effective
Date, 
 NOW THEREFORE, in consideration of the foregoing and of the respective covenants and agreements of the parties
herein, it is AGREED as follows: 
 1. Definitions. 

(a) The term “Change in Control” shall mean any of the following: 

(i) The consummation of the acquisition by any person (as such term is defined in Section 13(d) or 14(d) of the Securities Exchange
Act of 1934, as amended (the “1934 Act”)) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the 1934 Act) of fifty percent (50%) or more of the combined voting power of the then outstanding voting
securities of REIT; 
 (ii) Within any twelve (12) month period, the individuals who are members of the Board of Directors
of REIT (the “Board”) at the beginning of such period cease for any reason to constitute a majority of the Board, unless the election, or nomination for election by the stockholders, of any new director was approved by a vote of a
majority of the Board, and such new director shall, for purposes of this Agreement, be considered as a member of the Board; or 

(iii) The consummation of: (A) a merger or consolidation if REIT stockholders immediately before such merger or consolidation do
not, as a result of such merger or consolidation, own, directly or indirectly, more than fifty percent (50%) of the combined voting power of the then outstanding voting securities of the entity resulting from such merger or consolidation in
substantially the same proportion as their ownership of the combined voting power of the voting securities of REIT outstanding immediately before such merger or consolidation; or (B) a complete liquidation or dissolution or an agreement for the
sale or other disposition of fifty percent (50%) or more of the total assets of REIT. 
 Notwithstanding the foregoing, a Change in Control
shall not be deemed to occur if any of the foregoing transactions occurs with a subsidiary or affiliate of REIT. 

 (b) The term “Company” means both OP and REIT unless the context
clearly requires or expressly indicates otherwise, in which case the right or obligation shall be that of OP or REIT as appropriate. 

(c) The term “Date of Termination” means the date upon which the Executive’s employment with the Company
ceases, as specified in a notice of termination pursuant to Section 9 hereof, or if termination of employment is due to the Executive’s death, such date of death. To the extent necessary to have payments and benefits under this
Agreement be exempt from the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), or comply with the requirements of Code Section 409A, the Company and Executive agree to cooperate in
a reasonable manner (including with regard to any post-termination services by the Executive) such that the Date of Termination as defined in this Agreement shall constitute a “separation from service” pursuant to Code Section 409A
(“Separation from Service”). Notwithstanding anything contained in this Agreement to the contrary, the date on which a Separation from Service occurs shall be the “Date of Termination” or termination of employment for
purposes of determining the timing of payments under this Agreement to the extent necessary to have such payments and benefits under this Agreement be exempt from the requirements of Code Section 409A or comply with the requirements of Code
Section 409A. 
 (d) The term “Disability” means that (i) the Executive is unable for more
than 180 consecutive or non-consecutive days in any consecutive 12-month period to perform substantially and continuously the duties assigned to him by reason of any medically determinable physical or mental impairment, or (ii) the Executive
is, by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months, receiving income replacement benefits for
a period of not less than three (3) months under an accident and health plan covering employees of the Company. 
 (e)
The term “Involuntary Termination” means the termination of the employment of the Executive (i) by the Company that is not a termination for Cause, or (ii) by the Executive that constitutes a resignation for Good
Reason. 
 (f) The term “Pro Rata Bonus” means a payment equal to the most recently paid Annual
Performance Bonus pro rated on a per diem basis for the number of days employed during the applicable calendar year divided by 365. If the Executive experiences an Involuntary Termination during 2010 or during 2011, but prior to the payment of the
Annual Performance Bonus for 2010, the Annual Performance Bonus that will form the basis for the Pro Rata Bonus calculation will be deemed to be the 2010 Target Bonus. 
  

 2 

 (g) Resignation for “Good Reason” means
termination of employment by the Executive upon the occurrence of any one or more of the following events, absent the Executive’s prior written consent to such event: (i) the removal of the Executive from, or the failure to re-elect the
Executive to, or the requirement to share with another person, the office of Senior Vice President, Operations of OP or Senior Vice President, Operations of REIT; (ii) the Company’s assignment of duties, responsibilities or reporting
requirements that are materially inconsistent with the Executive’s position or that materially expand or reduce the Executive’s duties, responsibilities or reporting requirements; (iii) a material reduction in the Base Salary or the
Annual Performance Bonus opportunities; (iv) a material breach of this Agreement by the Company; (v) a change in the Executive’s work location to a new location that is more than fifty (50) miles from the current corporate office
where the Executive works as of the Effective Date; (vi) the failure of the Company to obtain the assumption of this Agreement as contemplated by Section 11(a), or (vii) the Company’s intentional direction of the Executive
to engage in unlawful conduct notwithstanding the Executive’s timely objection; provided, however, that in order for the Executive to terminate his employment for Good Reason pursuant to this Agreement, the Executive must give the
Company written notice of the existence of any condition set forth above within ninety (90) days of such initial existence and the Company shall have thirty (30) days from the date of such notice in which to cure such condition, if
curable. If, during such thirty (30) day period, the Company cures the condition giving rise to grounds for resignation for Good Reason, no benefits shall be due under Section 7(a) of this Agreement with respect to such occurrence.
If, during such thirty (30) day period, the Company fails or refuses to cure the condition giving rise to such grounds for resignation for Good Reason, the Executive shall be entitled to benefits under Section 7(a) of this Agreement
upon such termination. The date of resignation for Good Reason shall be the thirtieth
(30th) day after the date that the Executive gave
notice of the existence of a condition that constitutes resignation for Good Reason under this section, if it has not been cured. 

(h) The term “Specified Employee” shall mean any person who is a “key employee” (as defined in Code
Section 416(i) without regard to paragraph (5) thereof), as determined by the Company based upon the twelve (12) month period ending on each December 31st (such twelve (12) month period is referred to below as the
“identification period”). If the Executive is determined to be a key employee under Code Section 416(i) (without regard to paragraph (5) thereof) during the identification period he shall be treated as a Specified Employee for
purposes of this Agreement during the twelve (12) month period that begins on the April 1st following the close of such identification period. For purposes of determining whether the Executive is a key employee under Code
Section 416(i), “compensation” shall mean the Executive’s W-2 compensation as reported by the Company for a particular calendar year. 

(i) Termination for “Cause” means termination of the employment of the Executive with the Company because of any
one or more of the following events: (i) the Executive’s willful or repeated failure to perform or substantially perform his reasonable and customary duties under this Agreement, or the Executive’s material breach of any material
term, or of his reasonable and customary obligations, under this Agreement, including the restrictive covenants included herein, which failure or refusal is not cured, if curable, within thirty (30) days after written notice thereof is given to
the Executive; (ii) the Executive’s conviction of, or entry of a plea of guilty or nolo contendere with respect to, a felony crime or a crime involving fraud, forgery, embezzlement, or (iii) it is determined by a vote of not
less than seventy-five percent (75%) of the Board (excluding the Executive, if a member of the Board), after providing the Executive with specific charges and an opportunity to respond thereto, that the Executive has committed serious
misconduct through fraudulent activities, including material theft or misappropriation of the Company’s assets, gross neglect, or engaging in unlawful discriminatory or harassing conduct. For purposes of this Agreement, no act or failure to act
by the Executive will be deemed “willful” unless done or omitted to be done not in good faith or without reasonable belief that such action or omission was in the Company’s best interests, and any act or omission by the Executive
pursuant to authority given pursuant to a resolution duly adopted by the Board or on the advice of counsel for the Company will be deemed made in good faith and in the best interests of the Company. 

 

 3 

 (j) The term “Voluntary Termination” shall mean termination of
employment by the Executive voluntarily as set forth in Section 7(c) of this Agreement. 
 2. Term. The term of this
Agreement shall be a period commencing on the Effective Date and ending four (4) years thereafter (the “Term”), unless sooner terminated as provided herein. As of the second anniversary of the Effective Date, and each
anniversary thereafter (each an “Extension Date”), the Term shall automatically be extended for one (1) additional year, unless either the Company or the Executive notifies the other party, by written notice delivered no later
than 90 days prior to such Extension Date, that the Term shall not be extended for an additional year. Notwithstanding anything contained herein to the contrary, if a Change in Control occurs during the Term, this Agreement shall remain in effect
for the two (2) year period following the Change in Control and shall then terminate. 
 3. Employment; Directorships. The
Executive is hereby employed as the Senior Vice President, Operations of OP and is hereby appointed as Senior Vice President, Operations of REIT, reporting to the Chief Financial Officer and the Chief Operating Officer (or, in the absence of a Chief
Operating Officer, the President). During the Term, the Executive shall serve in the role of an advisory Board member, which permits the Executive attendance at Board meeting in a non-voting capacity; provided, however, that such Board attendance
shall not apply to executive sessions of the Board. The Executive shall also render services to any subsidiary or subsidiaries of OP or REIT as requested by the Company from time to time consistent with his executive position and experience and with
the terms of this Agreement. The Company shall provide the Executive with an office and administrative support in Kansas City commensurate with its other senior executives. The Executive shall devote substantially all of his time and attention to
the business and affairs of the Company and its subsidiaries. The Executive’s duties and responsibilities hereunder are more fully set forth in Exhibit A to this Agreement. 

4. Compensation. 

(a) Base Salary. OP agrees to pay the Executive during the Term a base salary (the “Base Salary”), the
annualized amount of which shall be One Hundred and Fifty Thousand Dollars ($150,000.00). The Base Salary may be adjusted upwards annually based on the Executive’s performance after review by the Compensation Committee of the Board (the
“Committee”), with such review to be conducted annually (commencing in January of 2011) or more frequently as determined by the Committee. The Base Salary shall be paid pursuant to the normal payroll practices of OP and shall be
subject to customary tax withholding. If and to the extent that any other entities directly or indirectly controlled by the Company pay Base Salary or other amounts or provide benefits to the Executive that the Company is otherwise obligated to pay
or to provide to the Executive under this Agreement, the Company’s obligations to the Executive shall be reduced accordingly on a dollar for dollar basis. Any amounts paid by any entity other than the Company shall be subject to all customary
tax withholdings at that entity level. 
  

 4 

 (b) Annual Cash Performance Bonus. 

(i) Prior to or within sixty (60) days of the beginning of each calendar year during the Term (each a “Performance
Period”), the Committee and the Executive shall agree on an objective performance criteria dashboard (with respect to the performance of the Executive and REIT) that will serve as the basis for determining an annual cash performance bonus
(the “Annual Performance Bonus”). Commencing with the Performance Period that begins at 12:00 AM, January 1, 2012, the Executive shall have a target Annual Performance Bonus and the opportunity to earn a maximum Annual
Performance Bonus (the “Target Bonus” and the “Maximum Bonus,” respectively), each set as a percentage of Base Salary and as established annually by the Committee. No Target Bonus shall be determined or payable for
any part of 2010 or 2011. The Annual Performance Bonus earned by the Executive for any Performance Period shall be paid within sixty (60) days after the end of the applicable Performance Period, provided the Executive is employed on the last
day of such Performance Period, except as provided in Sections 7(a) and 7(d) below. 
 (c) Equity
Awards. 
 (i) IPO Grant. As of the IPO date, the executive shall receive a grant of Twenty Thousand
(20,000) restricted stock units (“RSUs”) (the grant referred to herein as the “IPO Grant”). The RSUs will vest in four (4) equal annual installments beginning on the one (1) year anniversary of the
date of grant. The RSUs shall be granted pursuant, and subject to the terms and conditions of the US Federal Properties Trust, Inc. 2010 Equity Incentive Plan (the “Equity Incentive Plan”) and the RSU award agreement. For purposes
of this Agreement the term “IPO” shall mean an initial public offering of the Company’s securities that is intended to provide the Company’s initial capital. 

(ii) Annual Performance Grant. At the end of each Performance Period, the Executive shall be eligible to receive a performance
based equity award under the Equity Incentive Plan with an annual grant date value based upon a percentage of Base Salary (“Annual Performance Grant”), as established annually by the Committee. Any such Annual Performance Grant
shall be made in the sole discretion of the Committee and shall be based on the Executive’s achievement of performance criteria (with respect to the performance of the Executive and REIT), as such performance criteria have been mutually agreed
from time to time by the Committee and the Executive. Any Annual Performance Grant made to the Executive will also be subject to the terms and conditions of the Equity Incentive Plan. 

(iii) Termination of Employment. With respect to any RSUs or other equity awards granted to the Executive pursuant to this
Section 4, the Executive shall become fully and immediately vested in such awards in the event of a termination of employment pursuant to Sections 7(a) or 7(d) below. Upon a termination for Cause or a Voluntary Termination
pursuant to Sections 7(b) or 7(c), respectively, all unvested RSUs or other equity awards shall be immediately forfeited and cancelled and the Executive shall have no right to any benefit in lieu thereof. Any acceleration of vesting
contemplated by this Section 4 shall be conditioned upon the Executive executing, and not revoking, a Release (as required by, and defined in, Section 7(a) below). 

 

 5 

 (iv) Change in Control. With respect to any RSUs or other equity awards
granted to the Executive pursuant to this Section 4, the Executive shall become fully and immediately vested in such awards in the event of a Change in Control. 

(d) Expenses. The Executive shall be entitled to receive prompt reimbursement for all reasonable expenses (including, but
not limited to, a cell phone and monthly billing for the same) incurred by the Executive in performing services under this Agreement in accordance with the policies and procedures applicable to the senior executive officers of the Company, provided
that the Executive accounts for such expenses as required under such policies and procedures. The foregoing notwithstanding, the Company shall not be obligated hereby to reimburse Executive for expenses associated with travel to the Company’s
headquarters located in Kansas City, Missouri. 
 5. Benefits. 

(a) Participation in Benefit Plans. During the Term, the Executive shall be entitled to participate on the same basis as
provided generally to other senior executive officers of the Company (senior vice president and above) in all executive and employee benefit plans and programs of the Company as they may be in effect from time to time; provided, however,
that, nothing herein shall require the creation or retention of such plans or programs by the Company. Each of OP and REIT reserve the right to amend or cancel any such plan or program in its sole discretion, subject to the terms of such plan or
program and applicable law. The foregoing notwithstanding, Executive’s dependents will be fully eligible to participate under any health, dental and vision benefit plans adopted by Company from time to time. 

(b) Fringe Benefits. During the Term, the Executive shall be eligible to participate in, and receive benefits under, any
other fringe benefit plans, programs and practices or perquisites which are or may become generally available to other senior executive officers of the Company (senior vice president and above), as they may be in effect from time to time.

 6. Vacations. The Executive shall be entitled to accrue annual vacation at full pay, subject to the applicable vacation
policies of the Company; provided, however, that the maximum amount of vacation that the Executive may accrue under the Company vacation policy may be subject to a “reasonable” cap permissible under applicable law. 

7. Termination of Employment. The Executive's employment with the Company during the Term may be terminated by the Company or the Executive
without any breach of this Agreement only under the circumstances described in this Section 7. 
 (a)
Involuntary Termination. If the Executive experiences an Involuntary Termination prior to the end of the Term, such termination of employment shall be subject to the Company’s obligations under this Section 7(a). If such
Involuntary Termination occurs, the Company shall: 
 (i) pay to the Executive or the Executive’s beneficiary a cash
payment equal to two (2) times the sum of (A) the Executive’s then Base Salary (excluding any reductions to Base Salary that may have triggered such termination), plus (B) the Executive’s Target Bonus (the “Severance
Payment”), provided, however, that, in no event shall the Severance Payment be less than Three Hundred and Fifty Thousand Dollars ($350,000.00); 
  

 6 

 (ii) continue COBRA benefits for a period of up to eighteen (18) months following the
Date of Termination, at no cost to the Executive; provided that the Executive is eligible for and elects such coverage; 
 (iii)
accelerate the vesting of any outstanding equity awards if so provided pursuant to the terms of such awards or as provided herein; 

(iv) pay to the Executive a Pro Rata Bonus, if any; and 

(v) provide the Executive with executive level outplacement services for a period of up to one (1) year, as may be needed.

 In addition to the foregoing, in connection with an Involuntary Termination, the Executive shall be entitled to receive
(A) any accrued but unpaid Base Salary and any accrued but unused vacation through the Date of Termination, (B) reimbursement of any expenses incurred through the Date of Termination in accordance with Section 4(d), and
(C) all vested benefits and amounts under any plan, program or arrangement, the payment and other rights with respect to which shall be governed by the terms thereof (the benefits listed in this subparagraph collectively, the “Accrued
Compensation”). 
 Except as may be provided by Section 21(b), if applicable, the Severance Payment and
Pro Rata Bonus provided herein, shall be paid in a single lump sum on the forty-fifth
(45th) day following the Date of Termination provided
that the Executive executes, and does not revoke, a release and waiver, in the form attached hereto as Exhibit B (the “Release”) prior to such forty-fifth
(45th) day. If the Release has not become irrevocable
on or before such forty-fifth (45th) day, the
Executive shall forfeit any right to the Severance Payment (and the benefits set forth in subparagraphs (ii), (iii), and (v) above). If the Executive should die after amounts become payable under this Section 7(a), such amounts
shall thereafter be paid to the Executive’s estate. 
 (b) Termination for Cause. The Company may terminate
the Executive’s employment hereunder for Cause as provided herein. In the event of a termination for Cause, the Company shall have no further obligation to the Executive under this Agreement after the Date of Termination except for any unpaid
Accrued Compensation. 
 (c) Voluntary Termination. The Executive may terminate his employment voluntarily at any
time by a notice pursuant to Section 9 of this Agreement. In the event that the Executive voluntarily terminates his employment other than by reason of any of the actions that constitute a resignation for Good Reason (“Voluntary
Termination”), the Company shall only be obligated to pay to the Executive (i) the Accrued Compensation, and (ii) any awarded, but unpaid, Annual Performance Bonuses for previously completed Performance Periods, and the Company
shall have no further obligation to the Executive under this Agreement. 
  

 7 

 (d) Death or Disability. In the event of the death or Disability of the
Executive during the Term and prior to any termination of employment, the Company shall only be obligated to pay to the Executive or his estate (i) the Accrued Compensation, (ii) any awarded, but unpaid, Annual Performance Bonuses for
previously completed Performance Periods, (iii) any benefits payable on death or Disability, as applicable, under applicable benefit plans, (iv) accelerated vesting of any outstanding equity awards if so provided pursuant to the terms of
such awards or herein, and (iv) a Pro Rata Bonus, if any. Following such payment, the Company shall have no further obligation to the Executive, or his beneficiaries under this Agreement. 

(e) No Other Obligation to Mitigate Damages. The Executive shall not be obligated to mitigate amounts payable or
arrangements made under the provisions of this Section 7 and the obtaining of other employment shall not have any effect on the Company’s obligations under this Section 7. 

(f) Effect of Termination. If as of the Date of Termination, the Executive holds any position with either or both OP or
REIT, or any subsidiaries or affiliates or both OP and REIT, including any board positions, the Executive shall resign from all such positions as of the Date of Termination. 

8. Section 280G Limitation. If the value of any payment or other benefit the Executive would receive from the Company or otherwise in
connection with a Change in Control (the “Benefit”) would (i) constitute a “parachute payment” within the meaning of Code Section 280G, and (ii) but for this sentence, be subject to the excise tax imposed by
Code Section 4999 (the “Excise Tax”), then such Benefit shall be reduced to the Reduced Amount. The “Reduced Amount” shall be either: 

(i) the largest portion of the Benefit that would result in no portion of the Benefit being subject to the Excise Tax; or 

(ii) the largest portion, up to and including the total, of the Benefit, 

whichever amount, after taking into account all applicable federal, state and local employment taxes, income taxes, and the Excise Tax (all computed at
the highest applicable marginal rate), results in the Executive’s receipt, on an after-tax basis, of the greater amount of the Benefit notwithstanding that all or some portion of the Benefit may be subject to the Excise Tax. If a reduction in
payments or benefits constituting “parachute payments” is necessary so that the Benefit equals the Reduced Amount, reduction shall occur in the following order unless the Executive elects in writing a different order (provided, however,
that such election shall be subject to the Company’s approval if made on or after the date on which the event that triggers the Benefit occurs) or required pursuant to Code Section 409A: reduction of cash payments; cancellation of
accelerated vesting of stock awards; and reduction of employee benefits. In the event that acceleration of vesting of stock award compensation is to be reduced, such acceleration of vesting shall be cancelled in the reverse order of the date of
grant of the Executive’s stock awards unless the Executive elects in writing a different order for cancellation. 
  

 8 

 The accounting firm engaged by the Company for general audit purposes as of the day prior to the effective
date of the Change in Control shall perform the foregoing calculations. If the accounting firm so engaged by the Company is serving as accountant or auditor for the individual, entity or group effecting the Change in Control, the Company shall
appoint a nationally recognized accounting firm to make the determinations required hereunder. The Company shall bear all expenses with respect to the determinations by such accounting firm required to be made hereunder. 

The accounting firm engaged to make the determinations hereunder shall provide its calculations, together with detailed supporting documentation, to the
Executive and the Company within fifteen (15) calendar days after the date on which the Executive’s right to a Benefit is triggered (if requested at that time by the Executive or the Company) or such other time as requested by the
Executive or the Company. If the accounting firm determines that no Excise Tax is payable with respect to a Benefit, it shall furnish the Executive and the Company (at the Company’s expense) with an opinion reasonably acceptable to the
Executive that no Excise Tax will be imposed with respect to such Benefit. Any good faith determinations of the accounting firm made hereunder shall be final, binding and conclusive upon the Executive and the Company, except as set forth below.

 If, notwithstanding any reduction described in this Section 8, the Internal Revenue Service (the “IRS”)
determines that the Executive is liable for the Excise Tax as a result of the receipt of the payment of benefits as described above, then the Executive shall be obligated to pay back to the Company, within thirty (30) days after a final IRS
determination or in the event that the Executive challenges the final IRS determination, a final judicial determination, a portion of the payment equal to the Repayment Amount. The “Repayment Amount” with respect to the payment of
benefits shall be the smallest such amount, if any, as shall be required to be paid to the Company so that the Executive’s net after-tax proceeds with respect to any payment of benefits (after taking into account the payment of the Excise Tax
and all other applicable taxes imposed on such payment) shall be maximized. The Repayment Amount with respect to the payment of benefits shall be zero (0) if a Repayment Amount of more than zero would not result in the Executive’s net
after-tax proceeds with respect to the payment of such benefits being maximized. If the Excise Tax is not eliminated pursuant to this paragraph, the Executive shall pay the Excise Tax. 

Notwithstanding any other provision of this Section 8, if (A) there is a reduction in the payment of benefits as described in this
Section 8, (B) the IRS later determines that the Executive is liable for the Excise Tax, the payment of which would result in the maximization of the Executive’s net after-tax proceeds (calculated as if the Executive’s
benefits had not previously been reduced), and (C) the Executive pays the Excise Tax, then the Company shall pay to the Executive those benefits which were reduced pursuant to this Section contemporaneously or as soon as administratively
possible after the Executive pays the Excise Tax so that the Executive’s net after-tax proceeds with respect to the payment of benefits is maximized. 
  

 9 

 9. Notice of Termination. In the event that OP, REIT or both, desire to
terminate the employment of the Executive during the term of this Agreement, OP or REIT shall deliver to the Executive a written notice of termination, setting forth, in the case of a termination for Cause or termination for Disability, in
reasonable detail the facts and circumstances that are the basis for the termination, and specifying the date upon which employment shall terminate, which date shall be at least thirty (30) days after the date upon which the notice is
delivered, except in the case of termination for Cause. In the event that the Executive determines in good faith that he has experienced an Involuntary Termination as a result of a resignation for Good Reason, he shall send a written notice to the
Company stating the circumstances that give rise to the resignation for Good Reason and the date upon which such circumstances occurred. In the event that the Executive desires to cause a Voluntary Termination, he shall deliver a written notice to
the Company, stating the date upon which employment shall terminate, which date shall be at least sixty (60) days after the date upon which the notice is delivered, unless the parties agree to a date sooner. If the Executive gives written
notice of resignation for Good Reason pursuant to Section 1(g) and the Company does not cure the condition giving rise to grounds for resignation for Good Reason within thirty (30) days of that notice, the Executive’s
employment shall terminate on the thirtieth
(30th) day after the written notice he provided to
the Company. 
 10. Restrictive Covenants. 

(a) Confidentiality. The Executive acknowledges that, during the course of his employment with the Company, the Executive
may produce and have access to confidential and/or proprietary non-public information concerning OP and/or REIT, and any of their respective subsidiaries and affiliates, including marketing materials, customers lists, records, data, trade secrets,
proprietary business information, proposed transactions, possible acquisitions, pricing lists and policies, strategic planning, commitments, plans, procedures, litigation, pending litigation and other information not generally available to the
public (collectively, “Confidential Information”). The Executive agrees not to directly or indirectly use, disclose, copy or make lists of Confidential Information for the benefit of anyone other than the Company, either during or
after his employment with the Company, except to the extent that such disclosure is authorized in writing by the Company, required by law or any competent administrative agency or judicial authority, or otherwise as reasonably necessary or
appropriate in connection with performance by the Executive of his duties hereunder. Confidential Information does not include any information which; (i) the Executive was aware of or was in the Executive’s possession prior to becoming an
employee of the Company; (ii) is or becomes generally available to the public by acts other than those of the Executive after receiving it; or (iii) has been received lawfully and in good faith by the Executive from a third party not under
a similar duty of confidentiality to Company. The Executive agrees that if he receives a subpoena or other court order or is otherwise required by law to provide Confidential Information to a governmental authority or other person concerning the
activities of the Company, or his activities in connection with the business of the Company, the Executive will, to the extent permitted by law, immediately notify the Company of such subpoena, court order or other requirement and deliver forthwith
to the Company a copy thereof and any attachments and non-privileged correspondence related thereto so that the Company may seek an appropriate protective order to protect such Confidential Information,. The Executive shall take reasonable
precautions to protect against the inadvertent disclosure of Confidential Information. During his employment, the Executive agrees to abide by the Company’s reasonable policies, as in effect from time to time, respecting avoidance of interests
conflicting with those of the Company. 
  

 10 

 (b) Documents and Property. All records, files, documents and other materials
or copies thereof relating to the business of the Company, which the Executive shall prepare, receive, or use during his employment, shall be and remain the sole property of the Company and, other than in connection with performance by the Executive
of his duties hereunder, shall not be removed from the Company premises without the Company’s prior written consent, and shall be promptly returned to the Company upon the Executive’s termination of employment together with all copies
(including copies or recordings in electronic form), abstracts, notes or reproductions of any kind made from or about the records, files, documents, or other materials or information they contain. 

(c) Mutual Non-Disparagement. The Company and the Executive agree that, at all times during the Term following the Date of
Termination, they shall use reasonable and good faith efforts to ensure that neither party engages in any vilification of the other, and shall refrain from making any false, negative, critical or disparaging statements, implied or expressed,
concerning the other, including, but not limited to, management style, methods of doing business, the quality of products and services, role in the community, or treatment of employees. The parties further agree to do nothing that would damage the
other’s business reputation or good will; provided, however, that nothing in this Agreement shall prohibit either party’s disclosure of information which is required to be disclosed in compliance with applicable laws or regulations
or by order of a court or other regulatory body of competent jurisdiction. The Executive acknowledges that the only persons whose statements may be attributed to the Company for purposes of this Agreement, other than his own, shall be the members of
the Board. 
 (d) Non-Solicitation and Non-Competition. The Executive hereby agrees that in the event his
employment is terminated during the Term, for a period of one (1) year following the Date of Termination (the “Restricted Period”), except with the express prior written consent of the Company, the Executive will not directly,
or indirectly engage in or facilitate any of the following activities anywhere in the United States: 
 (i) soliciting or
inducing, or attempting to solicit or induce, any employee of the Company or its subsidiaries or affiliates, as of the Date of Termination, to terminate employment and become employed by, or on behalf of, any company that is a public or private
office real estate investment trust (government or otherwise); or 
 (ii) performing services as an employee, director, officer,
consultant, independent contractor or advisor; or investing in, whether in the form of equity or debt, owning any interest or otherwise having an ownership or other interest or a connection to any Prohibited Entity. Nothing in this Section
(ii) shall, however, restrict the Executive from making an investment in and owning up to one-percent (1%) of the common stock of any company whose stock is listed on a national exchange, provided that such investment does not give the
Executive the right or ability to control or influence the policy decisions of any Prohibited Entity. For purposes of this Agreement, a “Prohibited Entity” is any public real estate investment trust or institutional investment
entity (public or otherwise, which accepts individual institutional investments in excess of $10,000,000) that derives more than 20% of its consolidated gross revenues from a business or businesses that directly and materially compete with the
Company (e.g., U.S. federal government leased office properties). 
  

 11 

 (iii) Notwithstanding the foregoing, nothing contained herein shall prohibit the
Executive’s continued ownership in SRS Investments, LLC; provided that during the Term such entity does not engage in the ownership, development or operation of U.S. federal government leased properties. 

(e) Remedies for Breach. The Executive has reviewed the provisions of this Agreement with legal counsel and the Executive
acknowledges and expressly agrees that the covenants contained in this Section 10 are reasonable with respect to their duration, geographical area and scope. The Executive further acknowledges that the restrictions contained in
Section 10 of this Agreement are reasonable and necessary for the protection of the legitimate business interests of the Company, that they create no undue hardships, that any violation of these restrictions would cause substantial
injury to the Company and interests, that the Company would not have agreed to employ the Executive without receiving the Executive’s agreement to be bound by these restrictions and that such restrictions were a material inducement to the
Company to hire the Executive and enter into this Agreement. In the event of any violation or threatened violation of these restrictions, the Company, in addition to and not in limitation of, any other rights, remedies or damages available to the
Company under this Agreement or otherwise at law or in equity, shall be entitled to preliminary and permanent injunctive relief, without posting of bond to prevent or restrain any such violation by the Executive and any and all persons directly or
indirectly acting for or with him, as the case may be. 
 11. No Assignments. 

(a) This Agreement is personal to each of the parties hereto, and neither may assign or delegate any of its rights or obligations
hereunder without first obtaining the written consent of the other party; provided, however, that, the Company may assign any of its rights or obligations hereunder to an affiliate of the Company without the consent of the Executive, and
provided, further, that, this Agreement shall be binding upon and inure to the benefit of any successor of the Company and the Company shall require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise)
to assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place, with such express assumption to be in writing to the Executive. Failure
of the Company to obtain such an assumption prior to the effectiveness of any such succession shall be a breach of this Agreement and shall entitle the Executive to compensation and benefits from the Company in the same amount and on the same terms
as provided in Section 7(a). For purposes of implementing the provisions of this Section 11, the date on which any such succession becomes effective shall be deemed the Date of Termination. 

(b) This Agreement and all rights of the Executive hereunder shall inure to the benefit of and be enforceable by the
Executive’s personal and legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. 
  

 12 

 12. Notice. For the purposes of this Agreement, notices and all other communications provided
for in this Agreement shall be in writing and shall be deemed to have been duly given when personally delivered or five (5) days after the date appearing on the certified mail, when sent by such certified mail, return receipt requested, postage
prepaid, or over-night delivery to the Company at its home office, to the attention of the Board with a copy to the Secretary of the Company, or, if to the Executive, to such home or other address as the Executive has most recently provided in
writing to the Company. 
 13. Amendments. No amendments or additions to this Agreement shall be binding unless in writing and
signed by all parties. 
 14. Partial Invalidity. The various covenants and provisions of this Agreement are intended to be
severable and to constitute independent and distinct binding obligations. If any covenant or provision of this Agreement is determined to be void and unenforceable, in whole or in part, it shall not be deemed to affect or impair the validity of any
other covenant or provision or part thereof, and such covenant or provision or part thereof shall be deemed modified to the extent required to permit enforcement. Without limiting the generality of the foregoing, if the scope of any covenant
contained in this Agreement is too broad to permit enforcement to its full extent, such covenant shall be enforced to the maximum extent permitted by law, and the Executive hereby agrees that such scope may be judicially modified accordingly.

 15. Governing Law. All questions concerning the construction, validity and interpretation of this Agreement and the performance
of the obligations imposed by this Agreement shall be governed by the internal laws of the State of Delaware to agreements made and wholly to be performed in such state without regard to conflicts of laws. 

16. Mandatory Arbitration. Except as provided in Section 10(d)(ii) above, any disagreement, dispute, controversy or claim
arising out of or relating to this Agreement or the interpretation of this Agreement or any arrangements relating to this Agreement or contemplated in this Agreement or the breach, termination or invalidity thereof shall be settled by final and
binding arbitration administered by JAMS/Endispute in Kansas City, Missouri in accordance with the then existing JAMS/Endispute Arbitration Rules and Procedures for Employment Disputes. In the event of such an arbitration proceeding, the Executive
and the Company shall each select an arbitrator from among the JAMS/Endispute panel of arbitrators and those selected shall mutually select a third acceptable neutral arbitrator from among the JAMS/Endispute panel of arbitrators. In the event the
Executive and the Company cannot agree on an arbitrator, the Administrator of JAMS/Endispute will appoint an arbitrator. Neither the Executive nor the Company nor the arbitrator shall disclose the existence, content, or results of any arbitration
hereunder without the prior written consent of all parties. Except as provided herein, the Federal Arbitration Act shall govern the interpretation, enforcement and all proceedings. The arbitrator shall be required to abide by the provisions of this
Agreement and the arbitrator shall not modify or alter same. Such arbitration shall be conducted under a “baseball arbitration” format, pursuant to which the arbitrator shall be required to adopt the position of one of the parties, and not
any compromise position. The Company shall be responsible for the arbitrator’s fees and costs. All reasonable costs and expenses (including fees and disbursements of counsel) incurred by the Executive in seeking to interpret this Agreement or
enforce rights pursuant to this Agreement shall be paid on behalf of or reimbursed to the Executive promptly by the Company, provided that the Executive is successful in asserting such rights. The arbitrator shall apply the substantive law (and the
law of remedies, if applicable) of the State of Delaware, or federal law, or both, as applicable, and the arbitrator is without jurisdiction to apply any different substantive law. The arbitrator shall be required by abide by the provisions of this
Agreement and the arbitrator shall not modify or alter same. The arbitrator shall have the authority to entertain a motion to dismiss and/or a motion for summary judgment by any party and shall apply the standards governing such motions under the
Federal Rules of Civil Procedure. The arbitrator shall render an award and a written, reasoned opinion in support thereof. Judgment upon the award may be entered in any court having jurisdiction thereof. Nothing herein contained shall preclude
either party from seeking equitable or injunctive relief from a court of competent jurisdiction in order to prevent, terminate or reduce the likelihood of the infliction of irreparable harm on the petitioning party. 

 

 13 

 17. Indemnification; Insurance. The Company shall seek to obtain insurance and indemnify the
Executive, and such obligations shall be governed, as set forth in the Indemnification Agreement of even date herewith. 
 18. Fees and
Costs. The Company agrees to pay, or to reimburse the Executive for the reasonable out of pocket legal expenses incurred in connection with and related to the preparation and negotiation of this Agreement. 

19. Cooperation. The Executive shall cooperate with the Company, to the extent reasonably requested by the Company, in any investigation or
litigation in which the Company is a party and of which the Executive has relevant information by virtue of his employment with the Company. The Company shall reimburse the Executive for reasonable expenses related to such cooperation. 

20. Successors to Code Sections. All provisions of this Agreement referring to sections of the U.S.C. (United State Code) or to the Code
shall be deemed to refer to successor code sections in the event of renumbering of code sections. 
 21. Code Section 409A. 

 (a) General. It is intended that this Agreement shall comply with the provisions of Code Section 409A and
the Treasury regulations relating thereto so as not to subject the Executive to the payment of additional taxes and interest under Code Section 409A. In furtherance of this intent, this Agreement shall be interpreted, operated and administered
in a manner consistent with these intentions, and to the extent that any regulations or other guidance issued under Code Section 409A would result in the Executive being subject to payment of additional income taxes or interest under Code
Section 409A, the parties agree to amend the Agreement to maintain to the maximum extent practicable the original intent of the Agreement while avoiding the application of such taxes or interest under Code Section 409A. 

(b) Payments. Notwithstanding any provision in this Agreement to the contrary if, as of the effective
date of the Executive’s termination of employment, he is a Specified Employee, then, to the extent required pursuant to Code Section 409A(a)(2)(B)(i), payments due under Section 7 which may constitute “deferred
compensation,” shall be subject to a six (6) month delay such that amounts otherwise payable during the six (6) month period following the Executive’s Separation from Service shall be accumulated and paid in a lump-sum catch-up
payment as of the first day of the seventh
(7th) month following Separation from Service (or, if
earlier, the date of death of the Executive). Any portion of the benefits hereunder that were not otherwise due to be paid during the six (6) month period following the termination shall be paid to the Executive in accordance with the payment
schedule established herein. 
  

 14 

 (c) Reimbursements. For purposes of complying with Code Section 409A and
without extending the payment timing otherwise provided in this Agreement, taxable reimbursements under this Agreement, subject to the following sentence and to the extent required to comply with Code Section 409A, will be made no later than
the end of the calendar year following the calendar year in which the expense was incurred. To the extent required to comply with Code Section 409A, any taxable reimbursements and any in-kind benefits under this Agreement will be subject to the
following: (i) payment of such reimbursements or in-kind benefits during one calendar year will not affect the amount of such reimbursement or in-kind benefits provided during any other calendar year (other than for medical reimbursement
arrangements as excepted under Treasury Regulations § 1.409A-3(i)(1)(iv)(B) solely because the arrangement provides for a limit on the amount of expenses that may be reimbursed under such arrangement over some or all of the period the
arrangement remains in effect); (ii) such right to reimbursement or in-kind benefits is not subject to liquidation or exchange for another form of compensation to the Executive; and (iii) the right to reimbursements under this Agreement
will be in effect for the lesser of the time specified in this Agreement or ten (10) years plus the lifetime of the Executive. Any taxable reimbursements or in-kind benefits shall be treated as not subject to Code Section 409A to the
maximum extent provided by Treasury Regulations § 1.409A-1(b)(9)(v) or otherwise under Code Section 409A. 
 (d)
Cooperation. If any compensation or benefits provided by this Agreement may result in the application of Code Section 409A, the Company shall, in consultation with the Executive, modify the Agreement in the least restrictive manner
necessary in order to exclude such compensation from the definition of “deferred of compensation” within the meaning of Code Section 409A or in order to comply with the provisions of Code Section 409A and without any diminution
in the value of the payments or benefits to the Executive. This Section 21 is not intended to impose any restrictions on payments or benefits to Executive other than those set forth in this Agreement or required for Executive not to
incur additional tax under Code Section 409A and shall be interpreted and operated accordingly. The Company to the extent reasonably requested by the Executive shall modify this Agreement to effectuate the intention set forth in the preceding
sentence. 
 22. Entire Agreement. This Agreement supersedes all prior agreements and understandings between the parties relating
to the subject matter of this Agreement. It binds and benefits the parties and their successors in interest, heirs, beneficiaries, legal representatives and assigns. 

23. Survival. The provisions of Section 7(f), Section 10 and
Section 16 shall survive the termination of this Agreement for any reason. 
 24.
Counterparts. This Agreement may be signed in several counterparts, each of which will be an original and all of which will constitute one agreement. 

 

 15 

 25. Construction. In this Agreement, unless otherwise stated or the context otherwise
requires, the following uses apply: (a) “including” means “including, but not limited to;” (b) all references to sections are to sections in this Agreement unless otherwise specified; (c) all words
used in this Agreement will be construed to be of such gender or number as the circumstances and context require; (d) the captions and headings of sections appearing in this Agreement have been inserted solely for convenience of reference and
shall not be considered a part of this Agreement nor shall any of them affect the meaning or interpretation of this Agreement or any of its provisions; and (e) any reference to a document or set of documents in this Agreement, and the rights
and obligations of the parties under any such documents, shall mean such document or documents as amended from time to time, and any and all modifications, extensions, renewals, substitutions or replacements thereof. 

26. Withholding of Taxes. The Company may withhold from any benefits payable under this Agreement all federal, state, city or other taxes
as may be required pursuant to any law, governmental regulation or ruling. 
 27. Counsel; Ambiguity. Each party acknowledges that
it has had the opportunity to be represented by counsel in connection with this Agreement. Any rule of law or any legal doctrine that would require interpretation of any claimed ambiguities against the party that drafted it has no application and is
expressly waived. 
 28. WAIVER. TO THE EXTENT PERMITTED BY LAW, EACH PARTY HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVES
ANY RIGHT THAT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN ANY LITIGATION ARISING IN ANY WAY IN CONNECTION WITH THIS AGREEMENT. EACH PARTY ACKNOWLEDGES THAT SUCH PARTY HAS BEEN REPRESENTED IN THE SIGNING OF THIS AGREEMENT AND IN THE MAKING OF THIS
WAIVER BY INDEPENDENT LEGAL COUNSEL SELECTED OF SUCH PARTY’S OWN FREE WILL AND THAT IT HAS DISCUSSED THIS WAIVER WITH SUCH LEGAL COUNSEL, OR HAS HAD ADEQUATE OPPORTUNITY TO SEEK SUCH COUNSEL. EACH PARTY FURTHER ACKNOWLEDGES THAT (i) IT HAS
READ AND UNDERSTANDS THE MEANING AND RAMIFICATIONS OF THIS WAIVER, AND (ii) THIS WAIVER IS A MATERIAL INDUCEMENT FOR THE OTHER PARTIES TO ENTER INTO THIS AGREEMENT. 

[Remainder of Page Intentionally Left Blank] 

 

 16 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the day and year first
above written. 
  

					
	 US FEDERAL PROPERTIES TRUST, INC.,

a Maryland corporation

		
	By:	 	  

	Name:	 	  

	Its:	 	  

	
	 US FEDERAL PROPERTIES PARTNERSHIP, LP,

a Delaware limited partnership

		
	By:	 	 US Federal Properties Trust, Inc.,

a Maryland corporation

	Its:	 	General Partner
			
		 	By:	 	  

		 	Name:	 	  

		 	Its:	 	  

	
	  

	Nicholas J. Rhodes, an individual

[Signature page to USFPT Employment Agreement] 
  

 17 

 Exhibit A 

NICHOLAS RHODES - JOB DESCRIPTION 

During the Term, Executive, shall be the Senior Vice President, Operations, and shall report to the Chief Financial Officer and the Chief
Operating Officer (or, in the absence of a Chief Operating Officer, the President). The Executive is responsible for certain functions related to day-to-day operating activities of the Company, including performance of the Company’s real estate
portfolio, which may include, but may not be limited to: 
  

	 	I.	Portfolio Management 

  

	 	a.	Support the management and performance of the existing portfolio. 

  

	 	b.	Involved with creation of a budget for the performance of the portfolio and monitoring portfolio performance. 

 

	 	c.	Involved with corporate and portfolio insurance policies. 

  

	 	II.	Marketing/ Communications 

  

	 	a.	Assist with the creation of marketing materials to support property acquisitions and joint venture relationships. 

 

	 	III.	Acquisitions 

  

	 	a.	Lead the underwriting and due diligence of all assets. 

  

	 	b.	Assist in the sourcing and negotiation of all property acquisitions 

 

 A-1 

 Exhibit B 

AGREEMENT AND GENERAL RELEASE 

THIS AGREEMENT AND GENERAL RELEASE (the “Release”) is made and entered into as of this     
day of [            , 20    ], by and between
[                    ] (the “Company”) and its successors (collectively referred to herein as the
“Company”), and [                    ] (the “Executive”). 

FOR VALUABLE CONSIDERATION, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 

1. Termination of Employment. The Executive and the Company agree that the Executive’s employment with the Company and
the employment agreement entered into by and between the Executive and the Company, dated             , 2010 (the “Employment Agreement”) terminated effective
                    . 

2. Severance Benefits. In consideration for the promises made in this Release, the Company agrees to
pay the Executive the sum of $                     [to include all cash payments due under Section 7 of the Employment Agreement, if
applicable], payable on the forty-fifth
(45th) day following the Date of Termination, after
the execution by the Executive (without subsequent revocation) of this Release. If the Executive elects to continue the Executive’s and/or the Executive’s family’s health insurance under the Company group health program pursuant to
the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), the Company agrees to continue to pay the Company portion (as if Executive were still employed) of the Executive’s health insurance premium plus the COBRA
administrative premium for eighteen (18) months. The Executive acknowledges that the severance payment and health insurance benefits are being provided by the Company as consideration for the Executive entering into this Agreement, including
the release of claims and waiver of rights provided for in herein. The Executive acknowledges that the severance payment and health insurance benefits shall be subject to all applicable withholding and reporting requirements. 

 

 B-1 

 3. General Release. The Executive, with full understanding of the contents and
legal effect of this Release and having the right and opportunity to consult with his counsel, releases and discharges the Company, its shareholders, officers, directors, supervisors, managers, employees, agents, representatives, attorneys, parent
companies, divisions, subsidiaries and affiliates, and all related entities of any kind or nature, and its and their predecessors, successors, heirs, executors, administrators, and assigns (collectively, the “Company Released
Parties”) from any and all claims, actions, causes of action, grievances, suits, charges, or complaints of any kind or nature whatsoever, that he ever had or now has, whether fixed or contingent, liquidated or unliquidated, known or
unknown, suspected or unsuspected, and whether arising in tort, contract, statute, or equity, before any federal, state, local, or private court, agency, arbitrator, mediator, or other entity, regardless of the relief or remedy, arising prior to the
execution of this Release. Without limiting the generality of the foregoing, it being the intention of the parties to make this Release as broad and as general as the law permits, this Release specifically includes any and all subject matters and
claims arising from any alleged violation by the Released Parties under the Age Discrimination in Employment Act of 1967, as amended; Title VII of the Civil Rights Act of 1964, as amended; the Civil Rights Act of 1866, as amended by the Civil Rights
Act of 1991 (42 U.S.C. § 1981); the Rehabilitation Act of 1973, as amended; the Executive Retirement Income Security Act of 1974, as amended and other similar state or local laws; the Americans with Disabilities Act; the Worker Adjustment and
Retraining Notification Act; the Equal Pay Act; Executive Order 11246; Executive Order 11141; and any other statutory claim, employment or other contract or implied contract claim, claim for equity in the Company, or common law claim for wrongful
discharge, breach of an implied covenant of good faith and fair dealing, defamation, or invasion of privacy arising out of or involving his employment with the Company, the termination of his employment with the Company, or involving any continuing
effects of his employment with the Company or termination of employment with the Company; provided, however, that, nothing herein waives or releases the Executive’s rights to which the Executive may be entitled under a Company sponsored
tax qualified retirement or savings plan, to any rights of the Executive to indemnification under the Articles of Incorporation or by-laws of the Company or other agreement between the Executive and the Company, to any rights of the Executive under
any directors’ and officers’ liability insurance policy maintained by the Company, nor to any payments or benefits the Company is required to pay or provide pursuant to the terms of this Release. 

THE UNDERSIGNED ACKNOWLEDGES THAT HE HAS BEEN ADVISED BY LEGAL COUNSEL AND IS FAMILIAR WITH THE PROVISIONS OF ANY APPLICABLE STATE CIVIL
CODE (OR ANY SIMILAR PROVISION OF ANY STATE LAW, WHICH MAY BE APPLICABLE), WHICH MAY PROVIDE AS FOLLOWS: 

“A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE
TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT WITH THE DEBTOR.” 
 THE
UNDERSIGNED, BEING AWARE OF SAID CODE SECTION, HEREBY EXPRESSLY WAIVES ANY RIGHTS HE MAY HAVE THEREUNDER, AS WELL AS UNDER ANY OTHER STATUTES OR COMMON LAW PRINCIPLES OF SIMILAR EFFECT. 

4. Covenant Not to Sue. The Executive agrees not to bring, file, charge, claim, sue or cause, assist, or permit to be
brought, filed, charged or claimed any action, cause of action, or proceeding regarding or in any way related to any of the claims described in Section 3 hereof, and further agrees that his Release is, will constitute and may be pleaded
as, a bar to any such claim, action, cause of action or proceeding. If any government agency or court assumes jurisdiction of any charge, complaint, or cause of action covered by this Release, the Executive will not seek and will not accept any
personal equitable or monetary relief in connection with such investigation, civil action, suit or legal proceeding. 
  

 B-2 

 5. Severability. If any provision of this Release shall be found by a court to
be invalid or unenforceable, in whole or in part, then such provision shall be construed and/or modified or restricted to the extent and in the manner necessary to render the same valid and enforceable, or shall be deemed excised from this Release,
as the case may require, and this Release shall be construed and enforced to the maximum extent permitted by law, as if such provision had been originally incorporated herein as so modified or restricted, or as if such provision had not been
originally incorporated herein, as the case may be. The parties further agree to seek a lawful substitute for any provision found to be unlawful; provided, that, if the parties are unable to agree upon a lawful substitute, the parties desire and
request that a court or other authority called upon to decide the enforceability of this Release modify the Release so that, once modified, the Release will be enforceable to the maximum extent permitted by the law in existence at the time of the
requested enforcement. 
 6. Non-Disclosure. The Executive agrees that he will keep the terms and amounts set
forth in this Release completely confidential and will not disclose any information concerning this Release's terms and amounts to any person other than his attorney, accountant, tax advisor, or immediate family. 

7. Representation. The Executive hereby agrees that this release is given knowingly and voluntarily and acknowledges that: 

 (a) this Release is written in a manner understood by the Executive; 

(b) this Release refers to and waives any and all rights or claims that he may have arising under the Age Discrimination in Employment
Act, as amended; 
 (c) the Executive has not waived any rights arising after the date of this Release; 

(d) the Executive has received valuable consideration in exchange for the release in addition to amounts the Executive is already
entitled to receive; and 
 (e) the Executive has been advised to consult with an attorney prior to executing this
Release. 
 8. Consideration and Revocation. The Executive is receiving this Release on
                         , 20    , and the Executive shall be given twenty-one
(21) days from receipt of this Release to consider whether to sign the Release. The Executive agrees that changes or modifications to this Release do not restart or otherwise extend the above twenty-one (21) day period. Moreover, the
Executive shall have seven (7) days following execution to revoke this Release in writing to the Secretary of the Company and the Release shall not take effect until those seven (7) days have ended. 

9. Amendment. This Release may not be altered, amended, or modified except in writing signed by both the Executive and the
Company. 
  

 B-3 

 10. Joint Participation. The parties hereto participated jointly in the
negotiation and preparation of this Release, and each party has had the opportunity to obtain the advice of legal counsel and to review and comment upon the Release. Accordingly, it is agreed that no rule of construction shall apply against any
party or in favor of any party. This Release shall be construed as if the parties jointly prepared this Release, and any uncertainty or ambiguity shall not be interpreted against one party and in favor of the other. 

11. Binding Effect; Assignment. This Release and the various rights and obligations arising hereunder shall inure to the
benefit of and be binding upon the parties and their respective successors, heirs, representatives and permitted assigns. None of the parties may assign its respective interests hereunder without the express written consent of the other party.

 12. Applicable Law and Disputes. This Release shall be governed by, and construed in accordance with, the state
laws as provided in the Employment Agreement. The resolution of any disputes under this Release shall be subject to the provisions of Section 16 of the Employment Agreement. 

13. Execution of Release. This Release may be executed in several counterparts, each of which shall be considered an
original, but which when taken together, shall constitute one Release. 
 PLEASE READ THIS RELEASE AND CAREFULLY CONSIDER ALL OF
ITS PROVISIONS BEFORE SIGNING IT. THIS RELEASE CONTAINS A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS, INCLUDING THOSE UNDER THE FEDERAL AGE DISCRIMINATION IN EMPLOYMENT ACT, AND OTHER FEDERAL, STATE AND LOCAL LAWS PROHIBITING DISCRIMINATION IN
EMPLOYMENT. 
 If the Executive signs this Release less than twenty-one (21) days after he receives it from the Company,
he confirms that he does so voluntarily and without any pressure or coercion from anyone at the Company. 
 IN WITNESS
WHEREOF, the Executive and the Company have voluntarily signed this Release on the date set forth above. 
  

							
	[                           
                                 ]	 		 	Executive
				
	By:	 	  
	 		 	  

	Its:	 	  
	 		 	[                             
           ]
			
	  
	 		 	  

	Date	 		 		 	Date

  

 B-4Option Agreement for Jacksonville, Florida (VA)

 Exhibit 10.30 

OPTION AGREEMENT 

THIS OPTION AGREEMENT (this “Agreement”) is made and entered into this      day of
            , 2010, by and between Richard Baier (“Rick Baier”), Cathleen M. Baier (“Cathy Baier”), Daniel K. Carr (“Dan Carr”),
each an individual (Rick Baier, Cathy Baier and Dan Carr hereinafter collectively referred to as the “Contributors”), Daniel K. Carr Revocable Trust under Trust Agreement dated June 1, 2006 (the “Carr Trust”),
RDB, LLC, a Missouri limited liability company (“RDB”), CMB Development, LLC, a Missouri limited liability company (“CMB”), Jacksonville VA, LLC, a Missouri limited liability company (“Jacksonville
VA”; together with Carr Trust, RDB and CMB, collectively, “Seller”) and U.S. Federal Properties Partnership, LP, a Delaware limited partnership, whose principal address is 4705 Central Street, Kansas City, Missouri 64112,
and its successors and assigns (“Purchaser”): 
 W I T N E S S E T H: 

WHEREAS, the Carr Trust, RDB and CMB collectively own one hundred percent (100%) of the membership interests in Jacksonville VA (the
“Interests”); 
 WHEREAS, Jacksonville VA is currently under contract to acquire fee simple title to certain
real property in Jacksonville, Florida, such real property having the street address of 1640 Jefferson Street, Jacksonville, Florida 32209 and such property being more particularly described on Exhibit A hereto (the “Real
Property”); 
 WHEREAS, Jacksonville VA has been awarded a bid for the development of a Department of Veterans Affairs
(the “VA”) facility and has entered into a long term lease with the VA (the “VA Lease”) for the Real Property and the improvements to be developed thereupon (collectively, the “Premises”);

 WHEREAS, Purchaser is a Delaware limited partnership in the business of acquiring, developing, financing, owning and managing
properties leased primarily to agencies and departments of the United States of America, including but not limited to the VA; 

WHEREAS, Seller desires to grant to Purchaser and Purchaser desires to procure from Seller (a) certain options to purchase
(i) the Interests or (ii) the Premises (collectively, the “Purchase Options”), which Purchase Options are exercisable by Purchaser, in Purchaser’s sole and absolute discretion, upon the terms and provisions set forth
herein and (b) a certain Right of First Offer, more particularly described in Section 3 hereof, with respect to (i) the Interests or (ii) the Premises, upon the terms and provisions set forth herein; 

WHEREAS, each Contributor is a member of the senior management of Purchaser and the Contributors, collectively, indirectly control
Jacksonville VA and the development of the Premises; 
 WHEREAS, Seller desires to grant Purchaser the Options and the Right of
First Offer in consideration of Purchaser’s willingness to permit the Contributors to devote a portion of their time, from and after the closing of the initial public offering (the “IPO”) of Purchaser’s parent company
through the completion of the VA facility (the “Cooperation Period”), to the development of the Premises for Seller; and 

WHEREAS, as additional consideration for Purchaser’s willingness to permit the Contributors to devote a portion of their time to the
development of the Premises for Seller during the Cooperation Period, Seller hereby agrees to reimburse Purchaser for the cost associated with the amount of time spent by the Contributors in connection with the development of the Premises on
Seller’s behalf as more particularly described herein. 

 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is
hereby acknowledged by the parties hereto, and for the mutual covenants contained herein, Seller and Purchaser hereby agree as follows: 
 1.
Definitions. For the purposes of this Agreement, the following terms shall have the following meanings: 
 (a) “Commencement
Date” shall mean the date first written above; 
 (b) “Closing Date” shall mean the date selected by Purchaser whereupon title to
the Interest or the Premises, as applicable, will be transferred from Seller to Purchaser and whereupon Purchaser shall pay Seller the Purchase Price. In no event shall the Closing Date be more than fifteen (15) days beyond the Due Diligence
Period (as set forth in Section 9 hereof) without the written consent of Seller. 
 (c) “Due Diligence Period” shall have the
meaning set forth in Section 9 of this Agreement; 
 (c) “GAAP” shall mean generally accepted accounting principals in effect
from time to time as established by the Financial Accounting Standards Board. 
 (d) “Option Term” shall mean that period of time
commencing on receipt of a certificate of occupancy for the VA facility constructed upon the Premises and ending upon the earlier of (i) a sale of the Premises to a third party, and (ii) the sale of the Interests to a third party pursuant
to the terms of this Agreement; 
 (e) “Option Exercise Date” shall mean that date, within the Option Term, upon which the Purchaser
shall send its written notice to Seller exercising one of the Purchase Options pursuant to this Agreement; 
 (f) “Purchase Price”
shall have the meaning set forth in Section 2(A) of this Agreement; 
 (g) “Purchase Options” shall have the meaning set forth in
the recitals to this Agreement; 
 (i) “Right of First Offer” or “ROFO” shall have the meaning set forth in Section 3
of this Agreement; 
 (k) “USFPT” shall mean US Federal Properties Trust, Inc., a Maryland corporation, and its successors and
assigns. USFPT is the parent corporation and general partner of Purchaser. 
 2. The Purchase Options. Purchaser shall have the
right, in Purchaser’s sole and absolute discretion, at any time during the Option Term, to exercise either of the Purchase Options by giving written notice to Seller (as hereinafter described in Section 23), and provided Purchaser shall
purchase the Interests or the Premises, as applicable, in accordance with the following terms and conditions: 
 A.
Purchase Price. 
 (a) On or before the Closing Date, Purchaser shall pay the following purchase price
to Seller with respect to the purchase by Purchaser of the Interests or the Premises, as applicable (the “Purchase Price”): An amount, determined as of the Option Exercise Date, equal to (i) the quotient obtained by dividing
(a) the projected annual net operating income from the facility for the twelve (12) month period following the Option Exercise Date by (b) a capitalization rate of eight percent (8.0%); increased on a dollar-for-dollar basis by
(ii) the positive net working capital of Jacksonville VA as determined by GAAP on the Option Exercise Date (or decreased on a dollar-for-dollar basis by the negative net working capital of Jacksonville VA as determined by GAAP on the Option
Exercise Date); less (iii) any indebtedness (exclusive of the debt associated with any federal new market tax credits that may be issued in connection with the development of the Premises and further excluding any interest bearing
liabilities included in the calculation of net working capital in Section 2(A)(ii) above) encumbering the Premises or the Interests, as applicable, when acquired, including long-term debt obligations and funded debt. 

 

 2 

 (b) Purchaser shall pay the Purchase Price to Seller in the form of
operating partnership units (“OP Units”) of Purchaser; provided, however, that Seller may require that up to twenty-five percent (25%) of the Purchase Price be paid to Seller by wire transfer of immediately available federal
funds. The value of the OP Units will be determined based upon the volume weighted average price of USFPT’s common stock on the New York Stock Exchange, or such other exchange upon which USFPT’s common stock may be traded at the time, for
the twenty (20) trading days immediately preceding (but excluding) the Option Exercise Date, which shall be multiplied by the then effective conversion ratio for converting OP Units into common shares of USFPT to determine the number of OP
Units to be paid to Seller hereunder. 
 B. Reimbursement by Seller of the Contributor Reimbursement Amount. It is
anticipated that, during the Cooperation Period, the Contributors will be devoting a percentage of their working time, that would otherwise be spent on the management of Purchaser, to the development of the Premises. Because the time devoted by the
Contributors to development of the Premises on behalf of the Seller does not directly benefit the Purchaser, the Seller shall reimburse Purchaser for Seller’s use of the Contributors’ expended time on Seller’s behalf in an amount
determined by Purchaser, in its reasonable, good faith business judgment, taking into account the percentage of time devoted by the Contributors to the development of the Premises during the Cooperation Period (the “Contributor Reimbursement
Amount”). If Purchaser exercises its Purchase Option upon completion of the Premises, Purchaser shall receive a credit against the Purchase Price in the amount of the Contributor Reimbursement Amount. If Purchaser does not exercise its
Purchase Option upon completion of the Premises, Seller shall pay the Contributor Reimbursement Amount to Purchaser in immediately available federal funds upon the completion of the Premises. 

C. Assumption of Indebtedness. On or before the Closing Date, Purchaser shall assume or provide for the payment of any and
all indebtedness encumbering the Premises at the time the Premises are acquired by Purchaser, any debt associated with federal new market tax credits that may be issued in connection with the development of the VA facility and any long-term debt
obligations and funded debt used in acquisition of the Real Property or development of the VA facility, in each case to the extent Purchaser has received notice of such indebtedness prior to the Closing Date. Purchaser’s obligations under this
Section 2(C) shall be subject to Seller’s delivery to Purchaser, during the Due Diligence Period, of true, correct and complete copies of all documents relating to any indebtedness encumbering the Premises. 

3. The Right of First Offer. If at any time Seller desires or intends to market the Interests or the Premises for sale to third parties,
Seller shall first make a written offer the Interests or the Premises, as applicable, to Purchaser for sale at the price Seller intends to offer such Interests or Premises to third parties (an “Offer”). Upon receipt of an Offer from
Seller, Purchaser shall have thirty (30) days to exercise the right to purchase the Interests or the Premises, as applicable, (the “Right of First Offer” or “ROFO”) upon the terms set forth in such Offer by
providing written notice of the acceptance of such Offer to Seller. If Purchaser does not exercise the Right of First Offer with respect to the Interests or the Premises, as applicable, within such thirty (30) day period, Seller shall be
entitled to market the Interests or Premises, as applicable, to any unaffiliated third party for a period of up to ninety (90) days (the “Marketing and Contract Procurement Period”) at the price offered to Purchaser in the
Offer, and Seller shall be entitled to enter into an agreement with an unaffiliated third party to sell the Interests or Premises, as applicable, for a price equal to not less than ninety-seven percent (97%) of the price offered to Purchaser.
If Seller does not enter into an agreement with an unaffiliated third party purchaser within the Marketing and Contract Procurement Period, Seller shall once again be obligated to first offer the Interests or the Premises, as applicable, to
Purchaser pursuant to the terms of this Section 3. The Right of First Offer granted to Purchaser pursuant to this Section 3 shall continue upon the same terms until the termination of this Agreement, notwithstanding the number of times
Seller shall offer the Interests or the Premises, as applicable, to Purchaser or any unaffiliated third parties. 
  

 3 

 4. Rights to Inspect the Premises. Seller shall grant Purchaser reasonable access to the
Premises for purposes of inspection during the construction phases and upon and after completion of the Premises and at all times during the Due Diligence Period. Reasonable access means that Purchaser, personally or through its authorized agents or
representatives, shall be entitled, upon reasonable advance notice to Seller (and at all times strictly in accordance with the terms of the VA Lease) to enter upon the Premises during normal business hours and shall have the right to make such
investigations, including tenant interviews, appraisals, engineering studies, soil tests, environmental studies (including, but not limited to sampling) and underwriting analyses, as Purchaser deems reasonably necessary or advisable. Seller shall
also permit Purchaser with reasonable access to all documentation pertaining to the Real Property, any third party reports procured or commissioned by Seller with respect to the Real Property, the books, records, contracts and organizational
materials of Jacksonville VA and any reasonably necessary construction documentation or other documentation which would enable Purchaser to make a commercially informed decision regarding whether or not to exercise the Purchase Options or Right of
First Offer granted under this Agreement. All costs associated with Purchaser’s inspection and investigation of the Premises shall be borne by Purchaser and Purchaser hereby agrees to indemnify Seller for any damage caused to the Premises as a
result of any physical inspections. 
 5. Representations and Warranties. The Seller and Purchaser make the following
representations and warranties to each other, each effective as of the date of this Agreement and the Closing Date. 
 (A) The
Seller, and each of them, represent and warrant to Purchaser as follows. 
 (i) The Seller, and each of them, is duly formed and
validly existing under the laws of its state of formation. Jacksonville VA is duly qualified to conduct business in the State of Florida. The Seller, and each of them, has full power and authority to enter into this Agreement, to perform this
Agreement and to consummate the transactions contemplated hereby. The execution, delivery and performance of this Agreement and all documents contemplated hereby by Seller have been duly and validly authorized by all necessary action on the part of
Seller, and each of them, and all required consents and approvals have been duly obtained and will not result in a breach of any of the terms or provisions of, or constitute a default under the organizational documents of Seller, or any of them, or
under any indenture, agreement or instrument to which Seller, or any of them, is a party, including without limitation the VA Lease. This Agreement is a legal, valid and binding obligation of Seller, and each of them, enforceable against Seller, and
each of them, in accordance with its terms, subject to the effect of applicable bankruptcy, insolvency, reorganization, arrangement, moratorium or other similar laws affecting the rights of creditors generally. 

(ii) The following entities hold the Interests in the following percentages: 3.0% by CMB; 48.5% by RDB; and 48.5% by the Carr Trust. The
Interests constitute all of the limited liability company interests in Jacksonville VA. Except as has been disclosed by Seller to Purchaser and for which Purchaser has given its prior written consent, which consent shall be in the sole and absolute
discretion of Purchaser: (i) there are no contracts or agreements relating to the issuance, sale, exercise, conversion or transfer of any equity or other securities of Jacksonville VA; (ii) there is no lien pledge, or other encumbrance on
any of the Interests; and (iii) there are no voting trusts or agreements, pledge agreements, buy-sell agreements, rights of first refusal, preemptive rights or other similar rights or proxies relating to any of Jacksonville VA’s
securities, including without limitation the Interests. Notwithstanding the foregoing discretion of Purchaser, in the event Seller seeks to use the equity or securities of Jacksonville VA, including without limitation the Interests, as collateral
for construction financing associated with the Premises, Purchaser’s consent shall not be unreasonably withheld; provided, however, that the terms and provisions of any documentation relating to such construction or other financing at the
Premises shall be subject to Purchaser’s reasonable approval. 
 (B) Intentionally Omitted. 

(C) The Purchaser represents and warrants to the Seller that: it is duly formed and validly existing under the laws of its state of
formation; it has full power and authority to enter into this Agreement, to perform this Agreement and to consummate the transactions contemplated hereby; the execution, delivery and performance of this Agreement and all documents contemplated
hereby by Purchaser have been duly and validly authorized by all necessary action on the part of Purchaser, and all required consents and approvals have been duly obtained and will not result in a breach of any of the terms or provisions of, or
constitute a default under the organizational documents of Purchaser, or under any indenture, agreement or instrument to which Purchaser, is a party; this Agreement is a legal, valid and binding obligation of Purchaser enforceable against Purchaser
in accordance with its terms, subject to the effect of applicable bankruptcy, insolvency, reorganization, arrangement, moratorium or other similar laws affecting the rights of creditors generally. 

 

 4 

 6. Representations and Warranties regarding acquisition of Interests or Premises. In addition
to the representations and warranties made in Section 5 above, Seller and Purchaser shall give each other customary and commercially reasonable representations and warranties as of the Closing Date with respect to any acquisition of the
Interests or the Premises. Specifically, Seller, and each of them, shall make representations and warranties to Purchaser which at a minimum contain the following: 

(A) Jacksonville VA has good and marketable title to the Premises. Other than that certain right of first refusal more specifically
described in that Declaration of Covenants and Restrictions included as an exhibit to that certain Agreement Regarding Assignable Option to Purchase between the United States of America on behalf of the VA and Shands Jacksonville Foundation, Inc.
(“Shands”) dated on or about December 9, 2009, a true, correct and complete copy of which has been delivered by Seller to Purchaser, there exist no outstanding rights of first refusal, rights of reverter, or options to purchase
relating to the Premises or any interest therein. To Seller’s knowledge, there are no unrecorded or undisclosed documents or other matters which affect title to the property. Subject to the lease(s) in place at the Premises, true and correct
copies of which have been delivered to Purchaser, Jacksonville VA has enjoyed the continuous and uninterrupted quiet possession, use and operation of the property, without material complaint or objection by any person. 

(B) Neither Seller, nor any of them, is a “foreign person” within the meaning of Section 1445(f) of the Internal Revenue
Code of 1986, as amended (the “Code”). 
 (C) Neither Seller nor any of its affiliates, nor any of their
respective partners, members, shareholders or other equity owners, and none of their respective employees, officers, directors, representatives or agents is, nor will they become, a person or entity with whom United States persons or entities are
restricted from doing business under regulations of the Office of Foreign Asset Control (“OFAC”) of the Department of the Treasury (including those named on OFAC’s Specially Designated and Blocked Persons List) or under any
statute, executive order (including, without limitation, the September 24, 2001, Executive Order Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit, or Support Terrorism), or other governmental action,
and is not and will not engage in any dealings or transactions or be otherwise associated with such persons or entities. 
 (E)
No authorization, consent, or approval of a governmental authority is required for the closing of title to the Interests or the Premises, as applicable, as herein described, to occur except for the consent of the VA pursuant to the VA Lease and any
other government tenant pursuant to any lease for space in the Premises. Other than the previously described consent of the VA or any other federal government tenant who may be occupying the Premises, no authorization, consent, or approval is
required from a third party in respect of the closing of title to the Interests or the Premises, as applicable, herein described. 

(F) There are no actions, suits or proceedings pending, or, to the best of Seller’s knowledge, threatened (a) affecting Seller,
which if determined adversely, would affect its ability to perform its obligations hereunder; or (b) against any portion of the Interests or the Premises. 

(G) Seller has not (a) made a general assignment for the benefit of creditors, (b) filed any voluntary petition in bankruptcy
or suffered the filing of an involuntary petition by Seller’s creditors, (c) suffered the appointment of a receiver to take possession of all or substantially all of Seller’s assets, (d) suffered the attachment or other judicial
seizure of all, or substantially all, of Seller’s assets, (e) admitted in writing its inability to pay its debts as they come due, or (f) made an offer of settlement, extension or composition to its creditors generally. 

 

 5 

 (H) To Seller’s, and each of their knowledge, each has filed all tax returns that were
required to be filed up to and including the date hereof. All such tax returns were correct and complete in all material respects, and all taxes owed by the Seller, and each of them (whether or not shown on any tax return), have been paid except for
taxes that are not yet due and payable. To the best of Seller’s, and each of their knowledge, no claim has ever been made by a governmental body in a jurisdiction where the Seller, or any of them, does not file tax returns that such Seller, or
any of them, is or may be subject to taxation by that governmental body in such jurisdiction. There are no liens or encumbrances on either the Premises or the Interests that have arisen in connection with any failure (or alleged failure) to pay any
tax. 
 (I) The books of account, minute books, equity record books, organizational documents and other records of Jacksonville
VA have been provided to Purchaser and are complete and correct and have been maintained in all material respects in accordance with sound business practices. The minute books of Jacksonville VA contain accurate and complete records of all meetings
held of, and actions taken by, the members and/or managers of Jacksonville VA. 
 (J) Neither the execution, delivery or
performance of this Agreement nor compliance herewith (a) conflicts or will conflict with or results or will result in a breach of or constitutes or will constitute a default under (i) the articles of incorporation, by-laws, trust
agreement, partnership agreement, operating agreement, or other organizational document of Seller, or any of them or (ii) any law or any order, writ, injunction or decree of any court or governmental authority, or (b) results in the
creation or imposition of any lien, charge or encumbrance upon either the Interests or the Premises pursuant to any such agreement or instrument. 

(K) Neither Seller, nor any of them, has entered into any material commitments or agreements with any governmental authorities or
agencies affecting the Premises or the Interests except as provided in the due diligence materials. 
 (L) To the best of
Seller’s, and each of their knowledge, there is no pending, threatened or contemplated action, suit, arbitration, claim, or proceeding (including without limitation a condemnation proceeding) relating to Jacksonville VA, the Interests or the
Premises, and Seller has received no written notice from any person, entity, governmental body, agency or official to the effect that any such action, suit, arbitration, claim or proceeding is contemplated. 

(M) Seller has delivered or made available to Purchaser a true, correct and complete copy of the lease(s) and other occupancy agreements
affecting the Premises. The lease(s) is in full force and effect. Jacksonville VA is “landlord” or “lessor” under the lease(s) and is entitled to assign to Purchaser, if required, without tenant’s consent (subject to
Section 6(E)), the lease(s) on the Closing Date. The lease(s) does not require the consent of the tenant with respect to the assignment of Interests to the Purchaser. If necessary, Seller, and each of them, will use their best efforts to cause
the VA or such other federal government tenant leasing the Premises to enter into a novation agreement in favor of Purchaser with respect to the lease(s) at the Premises. Neither Seller, nor any of them, nor the tenant is in default under the
lease(s) and there exists no condition or circumstance or written notice of any condition or circumstance which, with the passage of time, would constitute a default of either Seller or the tenant under the lease(s). The tenant is not asserting any
claim of offset or other defense in respect of its or Seller’s obligations under the lease(s), and there are no unresolved disputes relating to the calculation of additional rent under the lease(s). There are no pending or incomplete tenant
improvements and unpaid tenant improvement costs and leasing commissions with respect to the lease(s) and no pecuniary obligation to tenant and brokers has vested or accrued and is owed by Seller, except that shall be fully completed and paid in
full prior to closing. 
 (N) A transfer of the Interests from Seller to Purchaser does not implicate the right of first refusal
contained in that Declaration of Covenants and Restrictions included as an exhibit to that certain Agreement Regarding Assignable Option to Purchase between the United States of America on behalf of the VA and Shands Jacksonville Foundation, Inc.
dated on or about December 9, 2009. 
  

 6 

 (O) Intentionally Omitted. 

(P) Seller has provided Purchaser with financial statements, including, but not limited to, statements of revenue and expenses, balance
sheets and statements of cash flow, of Jacksonville VA and of the Premises (the “Financial Statements”), for the fiscal year ended         , and for the
             months ended              (the “Most Recent Financial Statements”). The Financial
Statements are true, correct and complete in all material respects. The Financial Statements have been prepared on a              basis and present fairly, in all material respects,
the information contained therein for the periods indicated therein. All expenses associated with Premises operations have been recorded in Jacksonville VA’s general ledger. Since the date of the Most Recent Financial Statements, there has not
been any material change in business, financial condition, operations, results of operations, or future prospects of any of the preceding with respect to Jacksonville VA, the Interests, or the Premises. 

(Q) Seller agrees to make such further and other reasonable representations and warranties regarding the financial statements of the
Premises and Jacksonville VA, including, but not limited to representations and warranties related to statements of revenue and expenses, as may be reasonably required of Seller by Purchaser’s auditor. Seller further agrees to reasonably
cooperate with Purchaser’s auditor in connection with delivery of any audit opinions or comfort letters relating to audited financial statements prepared by Purchaser’s auditor and consents to the dissemination of any such audited
financial statements, opinions or letters as may be required by Purchaser or its auditor for any purpose, including but not limited to their inclusion in any registration statements, prospectuses, or similar documents in connection with
syndications, private placements or public offerings of securities or interest by Purchaser, or any of Purchaser’s affiliates or assigns and any reporting requirements for the same under applicable federal and state laws. All costs and expenses
associated with any reports, opinions or letters required by this section shall be borne by Purchaser. 
 (R) Seller has
delivered or made available to Purchaser true and complete copies of all contracts to which Seller is a party and relating to Jacksonville VA, the Premises or the Interests, and, to the best of Seller’s knowledge, all other contracts,
agreements, documents, reports, materials and information that are in Seller’s possession or control with respect to the ownership, use and/or operation of Jacksonville VA, the Interests or the Premises. Seller has not received any written
notice of any default under any contract or other agreement related to the Interests, the Premises or Jacksonville VA that has not been cured or waived. Any agreements for services connected with the Premises and Jacksonville VA, including but not
limited to any management agreement with Lane4 Management, Inc. and any unaffiliated third party onsite construction manager, are in place from “month-to-month,” or are terminable by the Closing Date. 

(S) Seller, or any of them, has not received any written notice from, and is otherwise aware of no grounds for, any association,
declarant or easement holder requiring the correction of any condition with respect to the Premises, or any part thereof, by reason of a violation of any restrictions or covenants recorded against the Premises. 

(T) To the best of Seller’s, and each of their, knowledge, except as disclosed in the due diligence materials, there are no material
defects in the structural elements of the improvements and all improvements (including, without limitation, machinery, equipment, electrical, plumbing, heating and air conditioning systems and equipment) located on the Premises are in good
mechanical working order, condition and repair, and are structurally safe and sound and have no material defect (reasonable wear and tear excepted), and, there is no material leak or material defect in any roof located upon the Premises. 

(U) Neither Seller, nor any of them, has received any written notice from, and is otherwise aware of any grounds for, any governmental
body, agency or official requiring the correction of any condition with respect to the Premises, or any part thereof, by reason of a violation of any applicable federal, state, county or municipal law, code, rule or regulation (including those
respecting the Americans With Disabilities Act), which has not been cured or waived. 
  

 7 

 (V) To Seller’s, or any of their, knowledge, the Premises is properly zoned for its
current use. To Seller’s knowledge, there is no pending or threatened request, application or proceeding to alter or restrict the zoning or other use restrictions applicable to the Premises and there is no plan, study or effort by any
governmental authority or agency or any private party or entity that in any way affects or would affect the authorization of the current use and operation of the Premises. 

(W) Seller, or any of them, has not received any written notice of an intention to revoke any certificate of occupancy, license, or
permit issued in connection with the Premises. 
 (X) Seller, or any of them, has received no notice that the Premises or any
portion thereof contains any form of toxic mold. 
 (Y) To Seller’s, and each of their knowledge, there are no claims
pending or unpaid bills which would result in the creation of any lien on the Premises for any improvements completed or in progress, including, but not limited to, water, sewage, street paving, electrical or power improvements. To the best of
Seller’s, and each of their knowledge, there are no delinquent bills or claims in connection with any repair of the Premises or other work or material purchased in connection with the Premises which will not be paid by or at the closing.

 (Z) No treatment has been undertaken by Seller, or any of them, with respect to termite or similar infestation, fungi, or dry
rot on the Premises other than normal periodic service, and to the best of Seller’s, or any of their, knowledge, there is no damage to any portion of the Premises from termite or similar infestation, fungi or dry rot. 

(AA) The Premises is currently insured with commercially reasonably coverage. Seller has received no notices or requests from any
insurance company issuing any policy of insurance covering the Premises requesting the performance of any work with respect to the Premises or the improvements located thereon which has not been fully complied with. 

(AB) There are no specific items of personal property located on the Premises that would not otherwise be considered
“fixtures”. 
 (AC) With respect to any loan obligations secured by the Premises, all loan documents related to such
obligations have been provided to the Purchaser as part of the due diligence material and have not been modified except as disclosed. To Seller’s, and each of their knowledge, there has been no default by any party to such loan documents and
there exists no condition or circumstance or written notice of any condition or circumstance which, with the passage of time, would constitute a default by any party under such loan documents. 

(AD) To Seller’s knowledge, except as disclosed by the Phase I and Phase II Environmental Site Assessments of the Real Property
conducted for the VA by TTL Associates, Inc. on or about October and December of 2009 (copies of which have been previously provided to Purchaser), as may be supplemented from time to time, and which supplements shall be forthwith provided by Seller
to Purchaser, there are no Hazardous Materials stored on, incorporated into, located on, present in or used on the Premises in violation of, or requiring Remediation under, any laws, ordinances, statutes, codes, rules or regulations (collectively,
“Legal Requirements”) as of the date of this Agreement or, upon the Closing Date hereunder. For purposes of this Agreement, the term “Hazardous Materials” shall mean any substance which is or contains: (i) any
“hazardous substance” as now or hereafter defined in Section 101(14) of the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended (42 U.S.C. Section 9601 et seq.) (“CERCLA”) or
any regulations promulgated under CERCLA; (ii) any “hazardous waste” as now or hereafter defined the Recourse Conservation and Recovery Act (42 U.S.C. Section 6901 et seq.) (“RCRA”) or regulations promulgated
under RCRA; (iii) any substance regulated by the Toxic Substances Control Act (15 U.S.C. Section 2601 et. seq.); (iv) gasoline, diesel fuel or other petroleum hydrocarbons; (v) asbestos and asbestos containing materials, in any
form, whether friable or non-friable; (vi) polychlorinated biphenyls; (vii) radon gas: and (viii) any additional substances or materials which are now or hereafter classified or considered to be hazardous or toxic under any laws,
ordinances, statutes, codes, rules, regulations, agreements, judgments, orders and decrees now or hereafter enacted, promulgated, or amended, of the United States, the state, the county, the city or any other political subdivision in which the
Property is located and any other political subdivision, agency or instrumentality exercising jurisdiction over the owner of the Property, the Property or the use of the Property relating to pollution, the protection or regulation of human health,
natural resources or the environment, or the emission, discharge, release or threatened release of pollutants, contaminants, chemicals or industrial, toxic or hazardous substances or waste into the environment (including, without limitation, ambient
air, surface water, ground water or land or soil). For purposes of this Agreement, the term “Remediation” shall mean actions taken in response to the presence of Hazardous Materials, including but not limited to investigation,
cleanup, removal, treatment or monitoring. 
  

 8 

 7. Covenants of Seller. Seller hereby covenants to Purchaser, as of the date hereof and
as of the Closing Date, as follows: 
 (A) Seller will retain an unaffiliated third-party onsite construction manager at all
times during the construction of the Premises; 
 (B) Other than the debt encumbering the Premises to which Purchaser has
received notice, Seller will not sell, assign, mortgage pledge or otherwise grant an interest in any of Jacksonville VA, the Premises or the Interests prior to the expiration of the Option Term without the prior written consent of Purchaser, which
such consent shall be in the sole and absolute discretion of the Purchaser. Notwithstanding the foregoing discretion of Purchaser, in the event Seller seeks to use the equity or securities of Jacksonville VA, including without limitation the
Interests, as collateral for construction financing associated with the Premises, Purchaser’s consent shall not be unreasonably withheld; provided, however, that the terms and provisions of any documentation relating to such construction or
other financing at the Premises shall be subject to Purchaser’s reasonable approval. 
 (C) Seller shall provide Purchaser
with such other information with respect to Jacksonville VA, the Premises or the Interests as Purchaser shall reasonably request in connection with Purchaser’s due diligence or the exercise of Purchaser’s rights pursuant to this Agreement.

 (D) From and after the date hereof through the expiration of the Option Term, Seller shall not enter into any amendment or
modification of the VA Lease or any other lease at the Premises without first obtaining the prior written consent of Purchaser to such amendment or modification. 

(E) Upon the Option Exercise Date or the date the Purchaser exercises its Right of First Offer, Seller shall use all commercially
reasonable best efforts to (i) in the case of a sale of the Premises, obtain from the VA, the U.S. General Services Administration, or such other responsible federal agency, a novation of Seller’s lease and supplemental lease agreement
recognizing the Purchaser as the successor landlord under the VA Lease; or (ii) in the case of a sale of the Interests, provide to the VA, the U.S. General Services Administration, or such other responsible federal agency, a notice of the
transfer of the Interests to the Purchaser as successor owner of such Interests. 
 8. Conditions Precedent. The
obligations of the Purchaser to close any transactions subject to this Agreement are expressly subject to (i) all representations and warranties of the Seller being true and correct as of the Closing Date as if such representations and
warranties were being made on such date, and (ii) compliance by Seller with all of the covenants set forth in Section 7 hereof from the date hereof through the Closing Date. In the event that any of said conditions are not fulfilled on or
as of the Closing Date, and notwithstanding anything to the contrary in this Agreement, the Purchaser shall have the right to terminate this Agreement whereupon all parties shall be relieved of any further obligations hereunder. 

 

 9 

 9. Due Diligence Period. Purchaser shall have thirty (30) days from either the
Option Exercise Date or Purchaser’s acceptance of an Offer, as applicable, to approve due diligence and proceed to the Closing Date. 
 10.
Indemnity by Contributors. The Contributors, jointly and severally, agree to indemnify, defend and hold Purchaser and its officers, directors, partners, members, agents, employees, affiliates, attorneys, heirs, successors and
assigns (collectively, “Purchaser’s Indemnified Parties”) harmless from and against any and all liabilities, liens, claims, damages, costs, expenses, suits or judgments paid or incurred by any of Purchaser’s Indemnified
Parties and all expenses related thereto, including, without limitation, court costs and reasonable attorneys’ fees arising out of or in any way connected or related to the debt associated with any federal new market tax credit becoming due and
payable for any reason, except that Contributors will not indemnify Purchaser’s Indemnified Parties for debt associated with any federal new market tax credit resulting from actions or inactions undertaken by the Purchaser’s Indemnified
Parties, including but not limited to a sale of the Premises or the Interests by the Purchaser. The indemnities set forth in this section shall survive any acquisition closing on the Interests or the Premises. 

11. Indemnity by Sellers. The Sellers, jointly and severally, agree to indemnify, defend and hold the Purchaser’s Indemnified
Parties harmless from and against any and all liabilities, liens, claims, damages, costs, expenses, suits or judgments paid or incurred by any of Purchaser’s Indemnified Parties and all expenses related thereto, including, without limitation,
court costs and reasonable attorneys’ fees arising out of or in any way connected or related to (i) any actions or inactions taken by any Seller which would cause the environmental representation and warranty contained in
Section 6(AD) to be untrue; (ii) any violation of a previously existing right of first refusal as specified in the representation and warranty contained in Section 6(N); and (iii) arising from the presence of a Hazardous
Substance prior to the Closing Date in violation of an applicable Legal Requirement or requiring Remediation under an applicable Legal Requirement . The indemnities set forth in this section shall survive the Closing Date. 

12. Closing through Escrow. The closing of title to the Interests or the Premises, as applicable, shall occur through escrow opened
with an escrow holder to be chosen by Purchaser and approved Seller, which approval shall not be unreasonably withheld, conditioned or delayed. The escrow holder shall be a national title company. 

13. Conditions to Closing. In addition to any other conditions precedent as may be expressly set forth elsewhere in this Agreement,
each of Purchaser’s and Seller’s obligations under this Agreement are subject to the timely fulfillment of the conditions set forth in this Section 13 on or before the Closing Date, or such earlier date as is set forth below. Each
condition may be waived in whole or in part only, by written notice of such waiver from the party entitled to enforce the condition to the party obligated to perform the condition. 

(A) Closing Conditions Favoring Purchaser. Purchaser’s obligation to close under this Agreement shall be conditioned
on the following: 
 (i) Seller performing and complying in all material respects with all of the terms of this Agreement to be
performed and complied with by Seller prior to or at the Closing Date. 
 (ii) On the Closing Date, all of the representations
and warranties of Seller set forth herein shall be true, accurate and complete. Seller shall have complied with all of the covenants set forth in this Agreement through the Closing Date. 

(iii) No later than three (3) business days prior to the Closing Date, Seller shall have obtained an estoppel certificate from the
tenant under the lease(s) at the Premises in a form mutually agreed on by Purchaser and Seller, and subject to the terms of the VA Lease or any other federal government lease (“Threshold Estoppel”) dated no earlier than sixty
(60) days prior to closing. The Threshold Estoppel shall be consistent with the lease(s) and shall not reveal any material, adverse matter or any claim of the same. 
  

 10 

 (iv) No later than three (3) business days prior to the Closing Date, Seller shall have
obtained a Subordination, Non-Disturbance and Attornment Agreement (“SNDA”) from the tenant under the lease(s) at the Premises (if required by Purchaser and appropriate under the VA Lease) in a form provided by Purchaser’s
lender, if any, and reasonably acceptable to the tenant. 
 (v) The tenant of the Premises will be in occupancy of the Premises,
the lease(s) will be free from any default on the part of Seller, as landlord, or the tenant, as tenant thereunder, and the tenant shall be paying rent and be current in the payment of all rentals due under the lease(s). 

(vi) There shall have been no material adverse change in the physical condition of the Premises from the end of the Due Diligence Period
through the Closing Date, normal wear and tear excepted. 
 (vii) Seller shall have delivered an estoppel certificate from the
party, if any, entitled to enforce any restrictive covenants encumbering the Premises, confirming that there are no unpaid assessments or defaults under such restrictive covenants. 

(viii) Seller shall have timely provided executed closing documents, including all documents required to transfer title to the Interests
or the Premises. 
 (ix) Seller shall perform any other customary and commercially reasonable conditions of a seller to
effectuate closing upon the Interests or Premises made pursuant to the Purchase Options or Right of First Offer set forth herein. 

(x) The City of Jacksonville, Florida (the “City”) shall have provided evidence satisfactory to Purchaser in its sole
discretion that all work at or concerning the Premises, including, without limitation, any demolition or remediation work, to be performed by the City pursuant to that certain Demolition, Remediation and Drainage Agreement, dated as of
December 9, 2009, by and between the City and Shands, shall have been completed prior to the Closing Date. 
 (B)
Closing Conditions Favoring Seller. 
 (i) Purchaser shall timely deliver the Purchase Price into escrow no
later than one (1) business day before the Closing Date. 
 (ii) Purchaser shall perform any other customary and
commercially reasonable conditions of a Purchaser to effectuate closing upon the Interests or Premises made pursuant to the Purchase Options or Right of First Offer set forth herein. 

14. Closing Costs and Prorations. In connection with the sale of the Interests or the Premises pursuant to the Purchase Options and
Right of First Offer contained herein, the following costs and prorations shall be applicable: 
 (A) Closing
Costs. Seller and Purchaser shall each pay their own legal fees related to the preparation of any acquisition documents and all documents required to settle the transactions contemplated hereby. Purchaser shall pay (i) all extended
title insurance premiums, endorsements and title examination costs, (ii) all costs associated with its investigation of the Premises, including the cost of appraisals, architectural, engineering, credit and environmental reports, (iii) all
escrow charges, (iv) all costs of obtaining an updated survey, (v) all transfer taxes, documentary stamp charges and recording fees, and (vi) standard title insurance premiums. All other customary purchase and sale closing costs shall
be paid by Seller or Purchaser in accordance with the custom in the jurisdiction where the Real Property is located. 
 (B)
Prorations. The following shall be prorated, credited, debited and adjusted between Seller and Purchaser as of 12:01 a.m. on the Closing Date (except as otherwise provided) in accordance with this section. For purposes of calculating
prorations, Purchaser shall be deemed to hold title to the Premises, and therefore entitled to the income and responsible for the expenses, for the entire day upon which the closing occurs. 

 

 11 

 (i) Current Rent. Tenant’s rent, including payments for taxes, utilities,
maintenance, operating expenses, or insurance, or additional charges of any other nature, based on a rental statement prepared by Seller and approved by Purchaser.  

(ii) Security Deposit, Unpaid Rent Concessions, Unpaid Tenant Improvement Allowances and Other Tenant Credits. The amount of the
unapplied tenant security deposit (if any), any accrued interest due the tenant thereon, unpaid rent concessions due under the lease(s), unpaid tenant improvement allowances owing under the lease(s) and the amount of any other credits due the tenant
shall be credited to Purchaser based on a rental statement prepared by Seller and approved by Purchaser (which statement must be consistent with the lease(s), and the estoppel certificate). 

(iii) Unpaid Rents. Seller shall be entitled to all unpaid rents for the period prior to closing and Purchaser shall be entitled
to all unpaid rents from the date of closing and thereafter. Any sums received by Purchaser to which Seller is entitled shall be held in trust for Seller on account of such unpaid rents payable to Seller, and Purchaser shall remit to Seller any such
sums received by Purchaser to which Seller is entitled within ten (10) business days after receipt thereof. Seller expressly agrees that if Seller receives any unpaid rents after the Closing Date which are attributable, in whole or in part, to
any period after the Closing Date, Seller shall remit to Purchaser that portion of the unpaid rents so received by Seller to which Purchaser is entitled within ten (10) business days after receipt thereof. Without limiting the foregoing, Seller
specifically agrees not to undertake any effort to collect unpaid rent or other sums (however denominated) owed to Seller from any person if such person or any affiliate of such person is in possession of any space in the Premises at the time of any
such collection effort. 
 (iv) Property Contracts. Prepaid charges in connection with any property contracts that
Purchaser elects to assume, or licenses or permits, shall be credited to Seller. Accrued charges in connection with such contracts, or licenses or permits, shall be credited to Purchaser. 

(v) Private Assessments. Payments due under any assessments imposed by private covenant shall be prorated as of the closing.

 (vi) Utilities. Except to the extent such items are the responsibility of the tenant, prepaid water, sewer, and other
utility charges shall be credited to Seller, and accrued water, sewer, and other utility charges shall be credited to Purchaser. 

(vii) Leasing Commissions. On or before the Closing Date, Seller shall pay in full all leasing commissions due to leasing or other
agents for the current remaining term of the lease(s) (determined without regard to any unexercised termination or cancellation right). 

(viii) Insurance Policies. Insurance premiums as to the policies, if any, that will continue after closing. 

(ix) New Working Capital. As a result of the formula for determining Purchase Price set forth in Section 2(A) hereof, to the
extent Purchaser acquires the Premises through either an exercise of its Purchase Options or through its Right of First Offer, Purchaser shall be entitled to any net working capital of Jacksonville VA as of the Option Exercise Date. 

(x) Other Items. All other items customarily prorated or required by any other provision of this Agreement to be prorated or
adjusted. 
 15. Seller’s Default. If Seller fails to perform any of its obligations or is otherwise in default
hereunder, Purchaser shall have the right to exercise any or all of the following remedies: (i) waive such failure and proceed with closing, (ii) terminate this Agreement, or (iii) seek specific performance under this Agreement and
any actual damages caused by Seller’s breach, including recovery of all expenses related thereto, including without limitation, court costs and reasonable attorney’s fees. 

 

 12 

 16. Purchaser’s Default. If the IPO being undertaken by Purchaser’s parent
company fails to occur, Seller shall have the right to exercise any or all of the following remedies: (i) waive such failure and proceed with any closing contemplated by this Agreement; or (ii) terminate this Agreement. For the avoidance
of doubt, a termination of this Agreement by Seller in accordance with this Section 16 terminates any obligations of the Contributors under Section 2(B) to reimburse Purchaser for the Contributor Reimbursement Amount. 

17. Entire Agreement. This Agreement constitutes the entire agreement between the parties hereto with respect to the transactions
contemplated herein, and it supersedes all prior discussions, understandings or agreements between the parties. All Exhibits attached hereto are a part of this Agreement and are incorporated herein by reference. 

18. Binding on Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns. 
 19. Assignment by Purchaser. Purchaser may assign this Agreement and Purchaser’s
rights under it only to an entity in which Purchaser, or its affiliates, members or members’ principals, possess, directly or indirectly, the power to direct or cause the direction of its management and policies, whether through the ownership
of voting securities or otherwise, and any other assignment is void. Specifically, Purchaser is permitted to assign this Agreement to any single purpose entity it owns or controls in accordance with this Section 19. Upon any assignment pursuant
to this Section 19, the payment of Purchase Price through transfer of OP Units shall be applicable to the assignee as if the assignee were the original Purchaser under this Agreement. This Agreement binds, benefits, and may be enforced by the
parties and their respective successors and permitted assigns. 
 20. Waiver. The excuse or waiver of the performance by a
party of any obligation of the other party under this Agreement shall only be effective if evidenced by a written statement signed by the party so excusing or waiving. No delay in exercising any right or remedy shall constitute a waiver thereof, and
no waiver by Seller or Purchaser of the breach of any covenant of this Agreement shall be construed as a waiver of any preceding or succeeding breach of the same or any other covenant or condition of this Agreement. 

21. Governing Law. This Agreement shall be governed by and construed under the laws of the State of Delaware, without regard to the
principles of conflicts of law. 
 22. Counterparts. This Agreement may be executed in any number of counterparts and it
shall be sufficient that the signature of each party appear on one or more such counterparts. All counterparts shall collectively constitute a single agreement. 
  

 13 

 23. Notices. All notices or other communications required or provided to be sent by
either party shall be in writing and shall be sent by: (i) United States Postal Service, certified mail, return receipt requested, (ii) any nationally known overnight delivery service for next day delivery, (iii) facsimile with
written confirmation of receipt from sending facsimile machine, or (iv) delivered in person. All notices shall be deemed to have been given on the date when deposited with the United States Postal Service or with any other nationally known
overnight delivery service, on the date when a facsimile is sent or on the date of personal delivery. All notices shall be addressed to the parties at the addresses below: 

 

			
	To Seller:	  	 Jacksonville VA, LLC; and
 BC
Development Co., LLC
 4705 Central Street

Kansas City, Missouri 64112
 Attention: Daniel K.
Carr
 Telephone: (816)

Facsimile:
 Email:

		
	And with a copy to:	  	 Daniel T. Murphy, Esquire

Polsinelli Shughart, PC
 700 W.
47th Street, Suite 1000

Kansas City, MO 64112
 Telephone: (816) 374-0550

 Facsimile: (816)
 Email:
DMurphy@polsinelli.com

		
	To Purchaser:	  	 US Federal Properties Partnership, LP

4705 Central Street
 Kansas City, Missouri 64112

 Attention: Kevin T. Kelly
 Telephone:
(816) 531-2082
 Facsimile:

Email:

		
	And with a copy to:	  	 Gregory Kaplan, PLC - Attorneys At Law

7 East Second Street (23224-4253)
 Post Office
Box 2470
 Richmond, VA 23218-2470

Attention: Christopher J. Hoctor
 Telephone:
(804) 916-9035
 Facsimile: (804) 916-9135

Email: choctor@gregkaplaw.com

Any address or name specified above may be changed by notice given to the addressee by the other party in accordance with this Section. The inability to
deliver notice because of a changed address of which no notice was given as provided above, or because of rejection or other refusal to accept any notice, shall be deemed to be the receipt of the notice as of the date of such inability to deliver or
rejection or refusal to accept. Any notice to be given by any party hereto may be given by the counsel for such party. 
 24.
Attorneys’ Fees. In the event of a judicial or administrative proceeding or action by one party against the other party with respect to the interpretation or enforcement of this Agreement, the prevailing party shall be
entitled to recover reasonable costs and expenses including, without limitation, reasonable attorneys’ fees and expenses, whether at the investigative, pretrial, trial or appellate level. The prevailing party shall be determined by the court
based upon an assessment of which party’s major arguments or position prevailed. 
 25. Time Periods. If the time for
performance of any obligation hereunder expires on a day that is not a business day, the time for performance shall be extended to the next business day. 

26. Modification of Agreement. No modification of this Agreement shall be deemed effective unless in writing and signed by the party
against whom enforcement is sought. 
 27. Further Instruments. Each party, promptly upon the request of the other, shall
execute and have acknowledged and delivered to the other, as may be appropriate, any and all further instruments reasonably requested or appropriate to evidence or give effect to the provisions of this Agreement and which are consistent with the
provisions of this Agreement. 
  

 14 

 28. Descriptive Headings; Word Meaning. The descriptive headings of the
paragraphs of this Agreement are inserted for convenience only and shall not control or affect the meaning or construction of any provisions of this Agreement. Words such as “herein,” “hereinafter,” “hereof’ and
“hereunder” when used in reference to this Agreement, refer to this Agreement as a whole and not merely to a subdivision in which such words appear, unless the context otherwise requires. The singular shall include the plural and the
masculine sender shall include the feminine and neuter, and vice versa, unless the context otherwise requires. The word “including” shall not be restrictive and shall be interpreted as if followed by the words “without
limitation”. 
 29. Business Day. As used herein, the term “business day” means any day other than Saturday,
Sunday and any day which is a legal holiday in the State of Delaware. 
 30. Construction of Agreement. This Agreement
shall not be construed more strictly against one party than against the other merely by virtue of the fact that it may have been prepared primarily by counsel for one of the parties, it being recognized that both Purchaser and Seller have
contributed substantially and materially to the preparation of this Agreement. 
 31. Severability. The parties hereto
intend and believe that each provision in this Agreement comports with all applicable local, state and federal laws and judicial decisions. However, if any provision in this Agreement is found by a court of law to be in violation of any applicable
local, state or federal law, statute, ordinance, administrative or judicial decision, or public policy, or if in any other respect such a court declares any such provision to be illegal, invalid, unlawful, void or unenforceable as written, then it
is the intent of all parties hereto that, consistent with and with a view towards preserving the economic and legal arrangements among the parties hereto as expressed in this Agreement, such provision shall be given force and effect to the fullest
possible extent, and that the remainder of this Agreement shall be construed as if such illegal, invalid, unlawful, void or unenforceable provision were not contained herein, and that the rights, obligations and interests of the parties under the
remainder of this Agreement shall continue in full force and effect. 
 32. Incorporation of Recitals. The foregoing
Recitals to this Agreement shall be hereby incorporated into this Agreement. 
 [Signatures appear on the following page]

  

 15 

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

			
	JACKSONVILLE VA, LLC, a
	Missouri limited liability company
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	RDB, LLC, a
	Missouri limited liability company
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	CMB Development, LLC, a
	Missouri limited liability company
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	Daniel K. Carr Revocable Trust, under
	Trust Agreement dated June 1, 2006
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	RICHARD BAIER, an individual
	
	  

	
	CATHLEEN M. BAIER, an individual
	
	  

	
	DANIEL K. CARR, an individual
	
	  

[Signature page to Option Agreement] 
  

 16 

					
	US FEDERAL PROPERTIES PARTNERSHIP, LP, a
	Delaware limited partnership
		
	By:	 	US FEDERAL PROPERTIES TRUST, INC., a
		 	Maryland corporation
	Its:	 	General Partner
			
		 	By:	 	  

		 		 	 Kevin T. Kelly

		 	Its:	 	President

  

			
		 	Federal Tax I.D. for US Federal Properties Partnership, LP: 27-2950259

[Signature page to Option Agreement] 
  

 17

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00178-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00178-of-00352.parquet"}]]