Document:

EX-4.2

 Exhibit 4.2 

STATEMENT REGARDING RESTRICTIONS ON 

TRANSFERABILITY OF SHARES OF COMMON STOCK 

(To Appear on Stock Certificate or to Be Sent upon Request 

and without Charge to Stockholders Issued Shares without Certificates) 

The shares represented by this certificate are subject to restrictions on Beneficial Ownership, Constructive Ownership and Transfer for the
purpose of the Corporation’s maintenance of its status as a Real Estate Investment Trust under the Internal Revenue Code of 1986, as amended (the “Code”). Subject to certain further restrictions and except as expressly provided in the
Corporation’s charter: (a) no Person may Beneficially Own or Constructively Own shares of the Corporation’s Common Stock in excess of 9.8% (in value or number of shares) of the outstanding shares of Common Stock of the Corporation
unless such Person is an Excepted Holder (in which case the Excepted Holder Limit for such Excepted Holder shall be applicable); (b) no Person may Beneficially Own or Constructively Own shares of Capital Stock of the Corporation in excess of
9.8% of the value of the total outstanding shares of Capital Stock of the Corporation, unless such Person is an Excepted Holder (in which case the Excepted Holder Limit for such Excepted Holder shall be applicable); (c) no Person may
Beneficially Own or Constructively Own Capital Stock that would result in the Corporation being “closely held” under Section 856(h) of the Code or otherwise cause the Corporation to fail to qualify as a REIT; and (d) no Person
may Transfer shares of Capital Stock if such Transfer would result in the Capital Stock of the Corporation being owned by fewer than 100 Persons. Any Person who Beneficially Owns or Constructively Owns or attempts to Beneficially Own or
Constructively Own shares of Capital Stock that causes or will cause a Person to Beneficially Own or Constructively Own shares of Capital Stock in excess or in violation of the above limitations must immediately notify the Corporation or, in the
case of a proposed or attempted transaction, give at least 15 days prior written notice and provide to the Corporation such other information as the Corporation may request in order to determine the effect, if any, of such Transfer on the
Corporation’s status as a REIT. If any of the restrictions on Transfer or ownership are violated, the shares of Capital Stock represented hereby will be automatically transferred to a Trustee of a Trust for the benefit of one or more Charitable
Beneficiaries. In addition, the Corporation may redeem shares of Capital Stock upon the terms and conditions specified by the board of directors in its sole discretion if the board of directors determines that ownership or a Transfer or other event
may violate the restrictions described above. Furthermore, upon the occurrence of certain events, attempted Transfers in violation of the restrictions described above may be void ab initio. 

Following the commencement of the Initial Public Offering, until the Common Stock is Listed, to purchase Common Stock, the purchaser must
represent to the Corporation: (i) that such purchaser (or, in the case of sales to fiduciary accounts, that the beneficiary, fiduciary account or grantor or donor who directly or indirectly supplies the funds to purchase the shares if the
grantor or donor is the fiduciary) has a minimum annual gross income of $70,000 and a net worth (excluding home, home furnishings and automobiles) of not less than $70,000; (ii) that such purchaser (or, in the case of sales to fiduciary
accounts, that the beneficiary, fiduciary account or grantor or donor who directly or indirectly supplies the funds to purchase the shares if the grantor or donor is the fiduciary) has a net worth (excluding home, home furnishings and automobiles)
of not less than $250,000; and/ or (iii) that the purchaser (or, in the case of sales to fiduciary 

 
accounts, that the beneficiary, fiduciary account or grantor or donor who directly or indirectly supplies the funds to purchase the shares if the grantor or donor is the fiduciary) meets the more
stringent suitability standards of such person’s jurisdiction as set forth in any then effective registration statement of the Corporation as such registration statement has been amended or supplemented as of the date of such purchase.
Following the Commencement of the Initial Public Offering, until the Common Stock is Listed, unless a stockholder is transferring all of his shares of Common Stock, each issuance or transfer of shares of Common Stock for value shall comply with the
requirements regarding minimum initial and subsequent cash investment amounts set forth in any then effective registration statement of the Corporation as such registration statement has been amended or supplemented as of the date of such issuance
or transfer for value or any higher or lower applicable state requirements with respect to minimum initial and subsequent cash investment amounts in effect as of the date of the issuance or transfer. 

All capitalized terms in this legend have the meanings defined in the charter of the Corporation, as the same may be amended from time to
time, a copy of which, including the restrictions on Transfer and ownership, will be furnished to each holder of Capital Stock of the Corporation on request and without charge. 

Note: Instead of the foregoing legend, the certificate may state that the Corporation will furnish to a stockholder on request and without
charge a full statement about certain restrictions on transferability.EX-10.2

 Exhibit 10.2 
  

ADVISORY AGREEMENT 
 between 

KBS STRATEGIC OPPORTUNITY REIT II, INC. 

and 
 KBS CAPITAL ADVISORS LLC

 July 3, 2013 

 TABLE OF CONTENTS 
  

 

					
	 	  	Page	 
		
	 ARTICLE 1 - DEFINITIONS
	  	 	1	  
	 ARTICLE 2 - APPOINTMENT
	  	 	9	  
	 ARTICLE 3 - DUTIES OF THE ADVISOR
	  	 	9	  
	 3.01 Organizational and Offering Services
	  	 	9	  
	 3.02 Acquisition Services
	  	 	9	  
	 3.03 Asset Management Services
	  	 	10	  
	 3.04 Stockholder Services
	  	 	13	  
	 3.05 Other Services
	  	 	13	  
	 ARTICLE 4 - AUTHORITY OF ADVISOR
	  	 	13	  
	 4.01 General
	  	 	13	  
	 4.02 Powers of the Advisor
	  	 	13	  
	 4.03 Approval by the Board
	  	 	14	  
	 4.04 Modification or Revocation of Authority of Advisor
	  	 	14	  
	 ARTICLE 5 - BANK ACCOUNTS
	  	 	14	  
	 ARTICLE 6 – RECORDS AND FINANCIAL STATEMENTS
	  	 	14	  
	 ARTICLE 7 - LIMITATION ON ACTIVITIES
	  	 	15	  
	 ARTICLE 8 - FEES
	  	 	15	  
	 8.01 Acquisition Fees
	  	 	15	  
	 8.02 Asset Management Fees
	  	 	16	  
	 8.03 Disposition Fees
	  	 	17	  
	 8.04 Subscription Processing Fee
	  	 	17	  
	 8.05 Subordinated Share of Cash Flows
	  	 	17	  
	 8.06 Subordinated Incentive Fee
	  	 	18	  
	 8.07 Changes to Fee Structure
	  	 	18	  
	 ARTICLE 9 - EXPENSES
	  	 	18	  
	 9.01 General
	  	 	18	  
	 9.02 Timing of and Limitations on Reimbursements
	  	 	20	  
	 ARTICLE 10 – VOTING AGREEMENT
	  	 	21	  
	 ARTICLE 11 - RELATIONSHIP OF ADVISOR AND COMPANY; OTHER ACTIVITIES OF THE ADVISOR
	  	 	21	  
	 11.01 Relationship
	  	 	21	  
	 11.02 Time Commitment
	  	 	22	  
	 11.03 Investment Opportunities and Allocation
	  	 	22	  
	 ARTICLE 12 - THE KBS NAME
	  	 	23	  
	 ARTICLE 13 - TERM AND TERMINATION OF THE AGREEMENT
	  	 	23	  
	 13.01 Term
	  	 	23	  
	 13.02 Termination by Either Party
	  	 	23	  
	 13.03 Payments on Termination and Survival of Certain Rights and Obligations
	  	 	23	  
	 ARTICLE 14 - ASSIGNMENT
	  	 	24	  
	 ARTICLE 15 - INDEMNIFICATION AND LIMITATION OF LIABILITY
	  	 	24	  
	 ARTICLE 16 - MISCELLANEOUS
	  	 	25	  

  
 i 

					
	 16.01 Notices
	  	 	25	  
	 16.02 Modification
	  	 	25	  
	 16.03 Severability
	  	 	25	  
	 16.04 Construction
	  	 	25	  
	 16.05 Entire Agreement
	  	 	25	  
	 16.06 Waiver
	  	 	26	  
	 16.07 Gender
	  	 	26	  
	 16.08 Titles Not to Affect Interpretation
	  	 	26	  
	 16.09 Counterparts
	  	 	26	  

  
 ii 

 ADVISORY AGREEMENT 

This Advisory Agreement, dated as of July 3, 2013 (the “Agreement”), is between KBS Strategic Opportunity REIT II, Inc., a Maryland
corporation (the “Company”), and KBS Capital Advisors LLC, a Delaware limited liability company (the “Advisor”). 
 W I T
N E S S E T H 
 WHEREAS, the Company desires to avail itself of the knowledge, experience, sources of information, advice, assistance and
certain facilities available to the Advisor and to have the Advisor undertake the duties and responsibilities hereinafter set forth, on behalf of, and subject to the supervision of, the board of directors of the Company (the “Board”), all
as provided herein; and 
 WHEREAS, the Advisor is willing to undertake to render such services, subject to the supervision of the Board, on
the terms and conditions hereinafter set forth. 
 NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants and
agreements contained herein, the parties hereto agree as follows: 
 ARTICLE 1 

DEFINITIONS 
 The following
defined terms used in this Agreement shall have the meanings specified below: 
 “Acquisition Expenses” means any and all
expenses, excluding the fee payable to the Advisor pursuant to Section 8.01, incurred by the Company, the Advisor or any Affiliate of either in connection with the selection, acquisition or development of any property, loan or other potential
investment, whether or not acquired or originated, as applicable, including, without limitation, legal fees and expenses, travel and communications expenses, costs of appraisals, nonrefundable option payments on properties or other investments not
acquired, accounting fees and expenses, title insurance premiums and miscellaneous expenses related to the selection, acquisition or development of any property, loan or other potential investment. 

“Acquisition Fees” means the fee payable to the Advisor pursuant to Section 8.01 plus all other fees and commissions, excluding
Acquisition Expenses, paid by any Person to any Person in connection with making or investing in any Property, Loan or other Permitted Investment or the purchase, development or construction of any Property by the Company. Included in the
computation of such fees or commissions shall be any real estate commission, selection fee, Development Fee, Construction Fee, nonrecurring management fee, loan fees or points or any fee of a similar nature, however designated. Excluded shall be
Development Fees and Construction Fees paid to Persons not 

  
 1 

 
Affiliated with the Advisor in connection with the actual development and construction of a Property. 

“Advisor” means (i) KBS Capital Advisors LLC, a Delaware limited liability company, or (ii) any successor advisor to the
Company. 
 “Affiliate or Affiliated.” An Affiliate of another Person includes any of the following: (i) any Person directly
or indirectly controlling, controlled by, or under common control with such other Person; (ii) any Person directly or indirectly owning, controlling, or holding with the power to vote 10% or more of the outstanding voting securities of such
other Person; (iii) any legal entity for which such Person acts as an executive officer, director, trustee, or general partner; (iv) any Person 10% or more of whose outstanding voting securities are directly or indirectly owned,
controlled, or held, with power to vote, by such other Person; and (v) any executive officer, director, trustee, or general partner of such other Person. An entity shall not be deemed to control or be under common control with an
Advisor-sponsored program unless (i) the entity owns 10% or more of the voting equity interests of such program or (ii) a majority of the board of directors (or equivalent governing body) of such program is composed of Affiliates of the
entity. 
 “Appraised Value” means the value according to an appraisal made by an Independent Appraiser. 

“Asset Management Fee” shall have the meaning set forth in Section 8.02. 

“Average Invested Assets” means, for a specified period, the average of the aggregate book value of the assets of the Company
invested, directly or indirectly, in Properties, Loans and other Permitted Investments secured by real estate before reserves for depreciation or bad debts or other similar non-cash reserves, computed by taking the average of such values at the end
of each month during such period. 
 “Board of Directors” or “Board” means persons holding such office, as of any
particular time, under the Charter, whether they be the Directors named therein or additional or successor Directors. 
 “Bylaws”
means the bylaws of the Company, as amended from time to time. 
 “Cash from Financings” means the net cash proceeds realized by
the Company from the financing of Properties, Loans or other Permitted Investments or from the refinancing of any Company indebtedness (after deduction of all expenses incurred in connection therewith). 

“Cash from Sales and Settlements” means the net cash proceeds realized by the Company (i) from the sale, exchange or other
disposition of any of its assets or any portion thereof after deduction of all expenses incurred in connection therewith and (ii) from the prepayment, maturity, workout or other settlement of any Loan or Permitted Investment or portion thereof
after deduction of all expenses incurred in connection therewith. In the case of a transaction described in clause (i) (C) of the definition of 

  
 2 

 
“Sale” and (i)(B) of the definition of “Settlement,” Cash from Sales and Settlements means the proceeds of any such transaction actually distributed to the Company from the
Joint Venture or partnership. Cash from Sales and Settlements shall not include Cash from Financings. 
 “Cash from Sales, Settlements
and Financings” means the total sum of Cash from Sales and Settlements and Cash from Financings. 
 “Charter” means the
articles of incorporation of the Company under Title 2 of the Corporations and Associations Article of the Annotated Code of Maryland, as amended from time to time. 

“Code” means the Internal Revenue Code of 1986, as amended from time to time, or any successor statute thereto. Reference to any
provision of the Code shall mean such provision as in effect from time to time, as the same may be amended, and any successor provision thereto, as interpreted by any applicable regulations as in effect from time to time. 

“Company” means KBS Strategic Opportunity REIT II, Inc., a corporation organized under the laws of the State of Maryland. 

“Competitive Real Estate Commission” means a real estate or brokerage commission for the purchase or sale of property that is
reasonable, customary, and competitive in light of the size, type, and location of the property. 
 “Construction Fee” means a fee
or other remuneration for acting as general contractor and/or construction manager to construct improvements, supervise and coordinate projects or to provide major repairs or rehabilitation on a Property. 

“Contract Sales Price” means the total consideration received by the Company for the sale of a Property, Loan or other Permitted
Investment. 
 “Cost of Loans and other Permitted Investments” means the sum of the cost of all Loans and Permitted Investments
held, directly or indirectly, by the Company or the Partnership, calculated each month on an ongoing basis, and calculated as follows for each investment: the lesser of (i) the amount actually paid or allocated to acquire or fund the Loan or
Permitted Investment (inclusive of fees and expenses related thereto and excluding the amount of any debt associated with or used to acquire or fund such investment) and (ii) the outstanding principal amount of such Loan or Permitted Investment
(plus the fees and expenses related to the acquisition or funding of such investment), as of the time of calculation. With respect to any Loan or Permitted Investment held by the Company or the Partnership through a Joint Venture or partnership of
which it is, directly or indirectly, a co-venturer or partner, such amount shall be the Company’s proportionate share thereof. 

“Cost of Real Estate Investments” means the sum of (i) with respect to Properties wholly owned, directly or indirectly, by the
Company, the amount actually paid or allocated to the purchase, development, construction or improvement of Properties, 

  
 3 

 
inclusive of fees and expenses related thereto, excluding the amount of any outstanding debt attributable to such Properties and (ii) in the case of Properties owned by any Joint Venture or
partnership in which the Company or the Partnership is, directly or indirectly, a co-venturer or a partner, the portion of the amount actually paid or allocated to the purchase, development, construction or improvement of Properties, inclusive of
fees and expenses related thereto, excluding the amount of any outstanding debt associated with such Properties that is attributable to the Company’s investment in the Joint Venture or partnership. 

“Dealer Manager” means (i) KBS Capital Markets Group LLC, a Delaware limited liability company, or (ii) any successor
dealer manager to the Company. 
 “Development Fee” means a fee for the packaging of a Property, including negotiating and
approving plans, and undertaking to assist in obtaining zoning and necessary variances and necessary financing for the Property, either initially or at a later date. 

“Director” means a member of the Board of Directors of the Company. 

“Disposition Fee” shall have the meaning set forth in Section 8.03. 

“Distributions” means any distributions of money or other property by the Company to owners of Shares, including distributions that
may constitute a return of capital for federal income tax purposes. 
 “GAAP” means accounting principals generally accepted in
the United States. 
 “Gross Proceeds” means the aggregate purchase price of all Shares sold for the account of the Company
through an Offering, without deduction for Organization and Offering Expenses. 
 “Independent Appraiser” means a person or entity
with no material current or prior business or personal relationship with the Advisor or the Directors, who is engaged to a substantial extent in the business of rendering opinions regarding the value of assets of the type held by the Company, and
who is a qualified appraiser of real estate as determined by the Board. Membership in a nationally recognized appraisal society such as the American Institute of Real Estate Appraisers (M.A.I.) or the Society of Real Estate Appraisers (S.R.E.A.)
shall be conclusive evidence of such qualification. 
 “Invested Capital” means the amount calculated by multiplying the total
number of Shares purchased by Stockholders by the issue price, reduced by any amounts paid by the Company to repurchase Shares pursuant to the Company’s plan for redemption of Shares. 

“Joint Venture” means any joint venture, limited liability company or other Affiliate of the Company that owns, in whole or in part,
on behalf of the Company any Properties, Loans or other Permitted Investments. 

  
 4 

 “Listed” or “Listing” shall have the meaning set forth in the Company’s
Charter. 
 “Loans” means mortgage loans and other types of debt financing investments made by the Company or the Partnership,
either directly or indirectly, including through ownership interests in a Joint Venture or partnership, and including, without limitation, mezzanine loans, B-notes, bridge loans, convertible mortgages, wraparound mortgage loans, construction
mortgage loans, loans on leasehold interests, and participations in such loans. 
 “Market Value” shall have the meaning set forth
in Section 8.06. 
 “NASAA Guidelines” means the NASAA Statement of Policy Regarding Real Estate Investment Trusts as in
effect on the date hereof. 
 “Net Income” means, for any period, the total revenues applicable to such period, less the total
expenses applicable to such period excluding additions to reserves for depreciation, bad debts or other similar non-cash reserves; provided, however, Net Income for purposes of calculating total allowable Operating Expenses (as defined herein) shall
exclude the gain from the sale of the Company’s assets. 
 “Offering” means a Private or Public Offering. 

“Operating Cash Flow” means Operating Revenue Cash Flows minus the sum of (i) Operating Expenses, (ii) all principal and
interest payments on indebtedness and other sums paid to lenders, (iii) the expenses of raising capital such as Organization and Offering Expenses, legal, audit, accounting, underwriting, brokerage, listing, registration, and other fees,
printing and other such expenses and tax incurred in connection with the issuance, distribution, transfer, registration and Listing of the Shares, (iv) taxes, (v) incentive fees paid in compliance with Section IV.F. of the NASAA Guidelines
and (vi) Acquisition Fees, Acquisition Expenses, real estate commissions on the resale of real property, and other expenses connected with the acquisition, disposition, and ownership of real estate interests, loans or other property (other than
commissions on the sale of assets other than real property), such as the costs of foreclosure, insurance premiums, legal services, maintenance, repair and improvement of property. 

“Operating Expenses” means all costs and expenses incurred by the Company, as determined under GAAP, that in any way are related to
the operation of the Company or to Company business, including fees paid to the Advisor, but excluding (i) the expenses of raising capital such as Organization and Offering Expenses, legal, audit, accounting, underwriting, brokerage, listing,
registration, and other fees, printing and other such expenses and tax incurred in connection with the issuance, distribution, transfer, registration and Listing of the Shares, (ii) interest payments, (iii) taxes, (iv) non-cash
expenditures such as depreciation, amortization and bad loan reserves, (v) incentive fees paid in compliance with Section IV.F. of the NASAA Guidelines and (vi) Acquisition Fees, Acquisition Expenses, real estate commissions on the resale
of real property, and other expenses connected with the acquisition, disposition, and ownership of real estate interests, loans or other property (other than commissions on the sale of assets other than

  
 5 

 
real property), such as the costs of foreclosure, insurance premiums, legal services, maintenance, repair and improvement of property. 

“Operating Revenue Cash Flows” means the Company’s cash flow from ownership and/or operation of (i) Properties,
(ii) Loans, (iii) Permitted Investments, (iv) short-term investments, and (v) interests in Properties, Loans and Permitted Investments owned by any Joint Venture or any partnership in which the Company or the Partnership is,
directly or indirectly, a co-venturer or partner. 
 “Organization and Offering Expenses” means all expenses incurred by or on
behalf of the Company in connection with an Offering and including, to the extent applicable, the qualification, registration and regulatory filings of the Offering and the marketing and distribution of the Shares, whether incurred before or after
the date of this Agreement, which may include but are not limited to, total underwriting and brokerage discounts and commissions (including fees of the underwriters’ attorneys); expenses for printing, engraving and mailing; salaries of
employees while engaged in sales activity; charges of transfer agents, registrars, trustees, escrow holders, depositaries and experts; and expenses of qualification of the sale of the securities under Federal and state laws, including taxes and
fees, accountants’ and attorneys’ fees. 
 “Partnership” means KBS Strategic Opportunity Limited Partnership II, a
Delaware limited partnership formed to own and operate Properties, Loans and other Permitted Investments on behalf of the Company. 

“Permitted Investments” means all investments (other than Properties, Loans and short-term investments acquired for purposes of cash
management) in which the Company may acquire an interest, either directly or indirectly, including through ownership interests in a Joint Venture or partnership, pursuant to its Charter, Bylaws and the investment objectives and policies adopted by
the Board from time to time. 
 “Person” means an individual, corporation, partnership, estate, trust (including a trust qualified
under Section 401(a) or 501(c) (17) of the Code), a portion of a trust permanently set aside for or to be used exclusively for the purposes described in Section 642(c) of the Code, association, private foundation within the meaning of
Section 509(a) of the Code, joint stock company or other entity, or any government or any agency or political subdivision thereof, and also includes a group as that term is used for purposes of Section 13(d)(3) of the Securities Exchange
Act of 1934, as amended. 
 “Private Offering” means any private offering of Shares pursuant to a confidential Private Placement
Memorandum, other than a private offering of shares under a distribution reinvestment plan. 
 “Private Placement Memorandum”
means a confidential private placement memorandum, as supplemented, pursuant to which the Company offers its Shares in a private offering. 

“Property” or “Properties” means any real property or properties transferred or conveyed to the Company or the
Partnership, either directly or indirectly, and/or any real 

  
 6 

 
property or properties transferred or conveyed to a Joint Venture or partnership in which the Company is, directly or indirectly, a co-venturer or partner. 

“Property Manager” means an entity that has been retained to perform and carry out property-management services at one or more of
the Properties, excluding persons, entities or independent contractors retained or hired to perform facility management or other services or tasks at a particular Property, the costs for which are passed through to and ultimately paid by the tenant
at such Property. 
 “Public Offering” means any public offering of Shares pursuant to an effective Registration Statement filed
under the Securities Act of 1933, as amended, other than a public offering of Shares under a distribution reinvestment plan. 

“Registration Statement” means a registration statement filed by the Company with the SEC on Form S-11, as amended from time to
time, in connection with a Public Offering. 
 “REIT” means a “real estate investment trust” under Sections 856 through
860 of the Code. 
 “Sale” or “Sales” means (i) any transaction or series of transactions whereby: (A) the
Company or the Partnership sells, grants, transfers, conveys, or relinquishes its ownership of any Property, Loan or other Permitted Investment or portion thereof, including the transfer of any Property that is the subject of a ground lease, and
including any event with respect to any Property, Loan or other Permitted Investment that gives rise to a significant amount of insurance proceeds or condemnation awards, and including the issuance by one of the Company’s subsidiaries of any
asset-backed securities or collateralized debt obligations as part of a securitization transaction; (B) the Company or the Partnership sells, grants, transfers, conveys, or relinquishes its ownership of all or substantially all of the interest
of the Company or the Partnership in any Joint Venture or any partnership in which it is, directly or indirectly, a co-venturer or partner; or (C) any Joint Venture or any partnership in which the Company or the Partnership is, directly or
indirectly, a co-venturer or partner, sells, grants, transfers, conveys, or relinquishes its ownership of any Property, Loan or other Permitted Investment or portion thereof, including any event with respect to any Property, Loan or other Permitted
Investment that gives rise to insurance claims or condemnation awards, and including the issuance by such Joint Venture or any partnership or one of its subsidiaries of any asset-backed securities or collateralized debt obligations as part of a
securitization transaction. 
 “SEC” means the United States Securities and Exchange Commission. 

“Settlement” means the prepayment, maturity, workout or other settlement of any Loan or other Permitted Investment or portion
thereof owned, directly or indirectly, by (A) the Company or the Partnership or (B) any Joint Venture or any partnership in which the Company or the Partnership is, directly or indirectly, a partner. 

“Shares” means the shares of common stock of the Company, par value $.01 per share. 

  
 7 

 “Stockholders” means the registered holders of the Shares. 

“Stockholders’ 7% Return” means, as of any date, an aggregate amount equal to a 7% cumulative, non-compounded, annual return on
Invested Capital (calculated like simple interest on a daily basis based on a three hundred sixty-five day year). For purposes of calculating the Stockholders’ 7% Return, Invested Capital shall be determined for each day during the period for
which the Stockholders’ 7% Return is being calculated and shall be calculated net of (1) Distributions of Operating Cash Flow to the extent such Distributions of Operating Cash Flow provide a cumulative, non-compounded, annual return in
excess of 7%, as such amounts are computed on a daily basis based on a three hundred sixty-five day year and (2) Distributions of Cash from Sales, Settlements and Financings, except to the extent such Distributions would be required to
supplement Distributions of Operating Cash Flow in order to achieve a cumulative, non-compounded, annual return of 7%, as such amounts are computed on a daily basis based on a three hundred sixty-five day year. 

“Subordinated Incentive Fee” means the fee payable to the Advisor under certain circumstances if the Shares are Listed, as
calculated in Section 8.06. 
 “Subordinated Performance Fee Due Upon Termination” means a fee in a principal amount equal to
(1) 15% of the amount, if any, by which (a) the Appraised Value of the Company’s Properties at the Termination Date, less amounts of all third-party indebtedness secured by the Company’s Properties, plus the fair market value of
all other Loans and Permitted Investments of the Company at the Termination Date, less amounts of third-party indebtedness related to such Loans and Permitted Investments, plus the fair market value of the Company’s other assets and
liabilities, plus total Distributions (excluding any stock dividend) through the Termination Date exceeds (b) the sum of Invested Capital plus total Distributions required to be made to the stockholders in order to pay the Stockholders’ 7%
Return from inception through the Termination Date less (2) any prior payment to the Advisor of a Subordinated Share of Cash Flows. 

“Subordinated Share of Cash Flows” has the meaning set forth in Section 8.05. 

“Subscription Processing Fee” has the meaning set forth in Section 8.04. 

“Termination Date” means the date of termination of the Agreement determined in accordance with Article 13 hereof. 

“2%/25% Guidelines” means the requirement pursuant to the NASAA Guidelines that, in any period of four consecutive fiscal quarters,
total Operating Expenses not exceed the greater of 2% of the Company’s Average Invested Assets during such 12-month period or 25% of the Company’s Net Income over the same 12-month period. 

  
 8 

 ARTICLE 2 

APPOINTMENT 
 The Company hereby
appoints the Advisor to serve as its advisor and asset manager on the terms and conditions set forth in this Agreement, and the Advisor hereby accepts such appointment. 

ARTICLE 3 
 DUTIES OF THE ADVISOR

 The Advisor is responsible for managing, operating, directing and supervising the operations and administration of the Company and its
assets. The Advisor undertakes to use its best efforts to present to the Company potential investment opportunities, to make investment decisions on behalf of the Company subject to the limitations in the Company’s Charter, the direction and
oversight of the Board and Section 4.03 hereof, and to provide the Company with a continuing and suitable investment program consistent with the investment objectives and policies of the Company as determined and adopted from time to time by
the Board. Subject to the limitations set forth in this Agreement, including Article 4 hereof, and the continuing and exclusive authority of the Board over the management of the Company, the Advisor shall, either directly or by engaging an Affiliate
or third party, perform the following duties: 
 3.01 Organizational and Offering Services.    The Advisor shall perform
all services related to the organization of the Company or any Offering, other than services that (i) are to be performed by the Dealer Manager, (ii) the Company elects to perform directly or (iii) would require the Advisor to
register as a broker-dealer with the SEC or any state. 
 3.02 Acquisition Services. 

(i)  Serve as the Company’s investment and financial advisor and provide relevant market research and economic
and statistical data in connection with the Company’s assets and investment objectives and policies; 

(ii)  Subject to Section 4 hereof and the investment objectives and policies of the Company: (a) locate,
analyze and select potential investments; (b) structure and negotiate the terms and conditions of transactions pursuant to which investments in Properties, Loans and other Permitted Investments will be made; (c) acquire, originate and
dispose of Properties, Loans and other Permitted Investments on behalf of the Company; (d) arrange for financing and refinancing and make other changes in the asset or capital structure of investments in Properties, Loans and other Permitted
Investments; and (e) enter into leases, service contracts and other agreements for Properties, Loans and other Permitted Investments; 

  
 9 

 (iii)  Perform due diligence on prospective investments and create due
diligence reports summarizing the results of such work; 
 (iv)  With respect to prospective investments presented
to the Board, prepare reports regarding such prospective investments that include recommendations and supporting documentation necessary for the Directors to evaluate the proposed investments; 

(v)  Obtain reports (which may be prepared by the Advisor or its Affiliates), where appropriate, concerning the
value of contemplated investments of the Company; 
 (vi)  Deliver to or maintain on behalf of the Company copies
of all appraisals obtained in connection with the Company’s investments; and 
 (vii)  Negotiate and execute
approved investments and other transactions, including prepayments, maturities, workouts and other settlements of Loans and other Permitted Investments. 

3.03 Asset Management Services. 

(i)  Real Estate and Related Services: 

(a)  Investigate, select and, on behalf of the Company, engage and conduct business with (including enter contracts
with) such Persons as the Advisor deems necessary to the proper performance of its obligations as set forth in this Agreement, including but not limited to consultants, accountants, lenders, technical advisors, attorneys, brokers, underwriters,
corporate fiduciaries, escrow agents, depositaries, custodians, agents for collection, insurers, insurance agents, developers, construction companies, Property Managers and any and all Persons acting in any other capacity deemed by the Advisor
necessary or desirable for the performance of any of the foregoing services; 
 (b)  Negotiate and service the
Company’s debt facilities and other financings; 
 (c)  Monitor applicable markets and obtain reports (which
may be prepared by the Advisor or its Affiliates) where appropriate, concerning the value of investments of the Company; 

(d)  Monitor and evaluate the performance of each asset of the Company and the Company’s overall portfolio of
assets, provide daily management services to the Company and perform and supervise the various management and operational functions related to the Company’s investments; 

  
 10 

 (e)  Formulate and oversee the implementation of strategies for the
administration, promotion, management, operation, maintenance, improvement, financing and refinancing, marketing, leasing and disposition of Properties, Loans and other Permitted Investments on an overall portfolio basis; 

(f)  Consult with the Company’s officers and the Board and assist the Board in the formulation and
implementation of the Company’s financial policies, and, as necessary with respect to investment and borrowing opportunities presented to the Board, furnish the Board with advice and recommendations with respect to the making of investments
consistent with the investment objectives and policies of the Company and in connection with any borrowings proposed to be undertaken by the Company; 

(g)  Oversee the performance by the Property Managers of their duties, including collection and proper deposits of
rental payments and payment of Property expenses and maintenance; 
 (h)  Conduct periodic on-site property
visits to some or all (as the Advisor deems reasonably necessary) of the Properties to inspect the physical condition of the Properties and to evaluate the performance of the Property Managers; 

(i)  Review, analyze and comment upon the operating budgets, capital budgets and leasing plans prepared and
submitted by each Property Manager and aggregate these property budgets into the Company’s overall budget; 

(j)  Coordinate and manage relationships between the Company and any co-venturers or partners; and 

(k)  Consult with the Company’s officers and the Board and provide assistance with the evaluation and approval
of potential asset disposition, sale and refinancing opportunities that are presented to the Board. 

(ii)  Accounting and Other Administrative Services: 

(a)  Provide the day-to-day management of the Company and perform and supervise the various administrative
functions reasonably necessary for the management of the Company; 
 (b)  From time to time, or at any time
reasonably requested by the Board, make reports to the Board on the Advisor’s performance of services to the Company under this Agreement; 

  
 11 

 (c)  Make reports to the Board each quarter of the investments that
have been made by other programs sponsored by the Advisor or any of its Affiliates, including KBS Realty Advisors LLC, as well as any investments that have been made by the Advisor or any of its Affiliates directly; 

(d)  Provide or arrange for any administrative services and items, legal and other services, office space, office
furnishings, personnel and other overhead items necessary and incidental to the Company’s business and operations; 

(e)  Provide financial and operational planning services; 

(f)  Maintain accounting and other record-keeping functions at the Company and investment levels, including
information concerning the activities of the Company as shall be required to prepare and to file all periodic financial reports, tax returns and any other information required to be filed with the SEC, the Internal Revenue Service and any other
regulatory agency; 
 (g)  Maintain and preserve all appropriate books and records of the Company; 

(h)  Provide tax and compliance services and coordinate with appropriate third parties, including the
Company’s independent auditors and other consultants, on related tax matters; 
 (i)  Provide the Company
with all necessary cash management services; 
 (j)  Manage and coordinate with the transfer agent the dividend
process and payments to Stockholders; 
 (k)  Consult with the Company’s officers and the Board and assist
the Board in evaluating and obtaining adequate insurance coverage based upon risk management determinations; 

(l)  Provide the Company’s officers and the Board with timely updates related to the overall regulatory
environment affecting the Company, as well as managing compliance with such matters, including but not limited to compliance with the Sarbanes-Oxley Act of 2002; 

(m)  Consult with the Company’s officers and the Board relating to the corporate governance structure and
appropriate policies and procedures related thereto; 
 (n)  Perform all reporting, record keeping, internal
controls and similar matters in a manner to allow the Company to comply with 

  
 12 

 
applicable law, including federal and state securities laws and the Sarbanes-Oxley Act of 2002; 

(o)  Notify the Board of all proposed material transactions before they are completed; and 

(p)  Do all things necessary to assure its ability to render the services described in this Agreement. 

3.04 Stockholder Services. 

(i)  Manage services for and communications with Stockholders, including answering phone calls, preparing and
sending written and electronic reports and other communications; 
 (ii)  Oversee the performance of the transfer
agent and registrar; 
 (iii)  Establish technology infrastructure to assist in providing Stockholder support and
service; and 
 (iv)  Consistent with Section 3.01, the Advisor shall perform the various subscription
processing services reasonably necessary for the admission of new Stockholders. 
 3.05 Other Services.    Except as
provided in Article 7, the Advisor shall perform any other services reasonably requested by the Company. 
 ARTICLE 4 

AUTHORITY OF ADVISOR 
 4.01
General.    All rights and powers to manage and control the day-to-day business and affairs of the Company shall be vested in the Advisor. The Advisor shall have the power to delegate all or any part of its rights and powers to
manage and control the business and affairs of the Company to such officers, employees, Affiliates, agents and representatives of the Advisor or the Company as it may deem appropriate. Any authority delegated by the Advisor to any other Person shall
be subject to the limitations on the rights and powers of the Advisor specifically set forth in this Agreement or the Charter. 
 4.02
Powers of the Advisor.    Subject to the express limitations set forth in this Agreement and the continuing and exclusive authority of the Board over the management of the Company, the power to direct the management, operation
and policies of the Company, including making, financing and disposing of investments, shall be vested in the Advisor, which shall have the power by itself and shall be authorized and empowered on behalf and in the name of

  
 13 

 
the Company to carry out any and all of the objectives and purposes of the Company and to perform all acts and enter into and perform all contracts and other undertakings that it may in its sole
discretion deem necessary, advisable or incidental thereto to perform its obligations under this Agreement. 
 4.03 Approval by the Board.
Notwithstanding the foregoing, the Advisor may not take any action on behalf of the Company without the prior approval of the Board or duly authorized committees thereof if the Charter or Maryland General Corporation Law require the prior approval
of the Board. If the Board or a committee of the Board must approve a proposed investment, financing or disposition or chooses to do so, the Advisor will deliver to the Board or committee, as applicable, all documents required by it to evaluate such
investment, financing or disposition. 
 4.04 Modification or Revocation of Authority of Advisor. The Board may, at any time upon the giving
of notice to the Advisor, modify or revoke the authority or approvals set forth in Article 3 and this Article 4 hereof; provided, however, that such modification or revocation shall be effective upon receipt by the Advisor and shall not be
applicable to investment transactions to which the Advisor has committed the Company prior to the date of receipt by the Advisor of such notification. 

ARTICLE 5 
 BANK ACCOUNTS 

The Advisor may establish and maintain one or more bank accounts in its own name for the account of the Company or in the name of the Company
and may collect and deposit into any such account or accounts, and disburse from any such account or accounts, any money on behalf of the Company, under such terms and conditions as the Board may approve, provided that no funds shall be commingled
with the funds of the Advisor. The Advisor shall from time to time render appropriate accountings of such collections and payments to the Board and the independent auditors of the Company. 

ARTICLE 6 
 RECORDS AND FINANCIAL
STATEMENTS 
 The Advisor, in the conduct of its responsibilities to the Company, shall maintain adequate and separate books and records for
the Company’s operations in accordance with GAAP, which shall be supported by sufficient documentation to ascertain that such books and records are properly and accurately recorded. Such books and records shall be the property of the Company
and shall be available for inspection by the Board and by counsel, auditors and other authorized agents of the Company, at any time or from time to time during normal business hours. Such books and records shall include all

  
 14 

 
information necessary to calculate and audit the fees or reimbursements paid under this Agreement. The Advisor shall utilize procedures to attempt to ensure such control over accounting and
financial transactions as is reasonably required to protect the Company’s assets from theft, error or fraudulent activity. All financial statements that the Advisor delivers to the Company shall be prepared on an accrual basis in accordance
with GAAP, except for special financial reports that by their nature require a deviation from GAAP. The Advisor shall liaise with the Company’s officers and independent auditors and shall provide such officers and auditors with the reports and
other information that the Company so requests. 
 ARTICLE 7 

LIMITATION ON ACTIVITIES 

Notwithstanding any provision in this Agreement to the contrary, the Advisor shall not take any action that, in its sole judgment made in good
faith, would (i) adversely affect the ability of the Company to qualify or continue to qualify as a REIT under the Code, (ii) subject the Company to regulation under the Investment Company Act of 1940, as amended, (iii) violate any
law, rule, regulation or statement of policy of any governmental body or agency having jurisdiction over the Company, its Shares or its other securities, (iv) require the Advisor to register as a broker-dealer with the SEC or any state, or
(v) violate the Charter or Bylaws. In the event an action that would violate (i) through (v) of the preceding sentence but such action has been ordered by the Board, the Advisor shall notify the Board of the Advisor’s judgment of
the potential impact of such action and shall refrain from taking such action until it receives further clarification or instructions from the Board. In such event, the Advisor shall have no liability for acting in accordance with the specific
instructions of the Board so given. 
 ARTICLE 8 

FEES 
 8.01 Acquisition
Fees.    As compensation for the investigation, selection, sourcing and acquisition or origination (by purchase, investment or exchange) of Properties, Loans and other Permitted Investments, the Company shall pay an Acquisition
Fee to the Advisor for each such investment (whether an acquisition or origination). With respect to the acquisition or origination of a Property, Loan or other Permitted Investment to be wholly owned, directly or indirectly, by the Company, the
Acquisition Fee payable to the Advisor shall equal 1.5% of the sum of the amount actually paid or allocated to fund the acquisition, origination, development, construction or improvement of the Property, Loan or other Permitted Investment, inclusive
of the Acquisition Expenses associated with such Property, Loan or other Permitted Investment and the amount of any debt associated with, or used to fund the investment in, such Property, Loan or other Permitted Investment. With respect to the
acquisition or origination of a Property, Loan or other Permitted Investment through any Joint Venture or any partnership in which the Company or the Partnership is, directly or 

  
 15 

 
indirectly, a partner, the Acquisition Fee payable to the Advisor shall equal 1.5% of the portion of the amount actually paid or allocated to fund the acquisition, origination, development,
construction or improvement of the Property, Loan or other Permitted Investment, inclusive of the Acquisition Expenses associated with such Property, Loan or other Permitted Investment, plus the amount of any debt associated with, or used to fund
the investment in, such Property, Loan or other Permitted Investment that is attributable to the Company’s investment in such Joint Venture or partnership. Notwithstanding anything herein to the contrary, the payment of Acquisition Fees by the
Company shall be subject to the limitations on Acquisition Fees contained in (and defined in) the Company’s Charter. The Advisor shall submit an invoice to the Company following the closing or closings of each acquisition or origination,
accompanied by a computation of the Acquisition Fee. Generally, the Acquisition Fee payable to the Advisor shall be paid at the closing of the transaction upon receipt of the invoice by the Company. However, the Acquisition Fee may or may not be
taken, in whole or in part, as to any year in the sole discretion of the Advisor. All or any portion of the Acquisition Fees not taken as to any fiscal year shall be deferred without interest and may be paid in such other fiscal year as the Advisor
shall determine. 
 8.02 Asset Management Fees. 

(i) Except as provided in Section 8.02(ii) hereof, the Company shall pay the Advisor as compensation for the services
described in Section 3.03 hereof a monthly fee (the “Asset Management Fee”) in an amount equal to one-twelfth of 2.0% of the sum of the Cost of Real Estate Investments and the Cost of Loans and other Permitted Investments. The Advisor
shall submit a monthly invoice to the Company, accompanied by a computation of the Asset Management Fee for the applicable period. Generally, the Asset Management Fee payable to the Advisor shall be paid on the last day of such month, or the first
business day following the last day of such month. However, the Asset Management Fee may or may not be taken, in whole or in part, as to any year in the sole discretion of the Advisor. All or any portion of the Asset Management Fees not taken as to
any fiscal year shall be deferred without interest and may be paid in such other fiscal year as the Advisor shall determine. 

(ii) Notwithstanding anything contained in Section 8.02(i) to the contrary, a Property, Loan or other Permitted
Investment that has suffered an impairment in value, reduction in cash flow or other negative circumstances may either be excluded from the calculation of the Cost of Real Estate Investments or the Cost of Loans and other Permitted Investments or
included in such calculation at a reduced value that is recommended by the Advisor and the Company’s management and then approved by the Board, and the resulting change in the Asset Management Fee with respect to such an investment will be
applicable upon the earlier to occur of the date on which (i) such investment is sold, (ii) such investment is surrendered to a Person other than the Company, its direct or indirect wholly owned subsidiary or a Joint Venture or partnership
in which the Company has an interest, (iii) the Advisor determines that it will no longer pursue 

  
 16 

 
collection or other remedies related to such investment, or (iv) the Advisor recommends a revised fee arrangement with respect to such investment. 

8.03 Disposition Fees.    If the Advisor or any of its Affiliates provide a substantial amount of services (as determined
by the Board) in connection with a Sale, the Advisor or such Affiliate shall receive a fee at the closing (the “Disposition Fee”). For a Sale with a Contract Sales Price less than or equal to $50 million, the Disposition Fee will equal
1.5% of the Contract Sales Price. For a Sale with a Contract Sales Price greater than $50 million, the Disposition Fee will equal the sum of $750,000 (which amount is 1.5% of $50 million), plus 1.0% of the amount of the Contract Sales Price in
excess of $50 million. The payment of any Disposition Fees by the Company shall be subject to the limitations contained in the Company’s Charter. Substantial assistance in connection with the Sale of a Property includes the Advisor’s
preparation of an investment package for the Property (including a new investment analysis, rent rolls, tenant information regarding credit, a property title report, an environmental report, a structural report and exhibits) or such other
substantial services performed by the Advisor in connection with a Sale. The Advisor shall submit an invoice to the Company on or about the closing or closings of each disposition, accompanied by a computation of the Disposition Fee. Generally, the
Disposition Fee payable to the Advisor shall be paid at the closing of the transaction upon receipt of the invoice by the Company. However, the Disposition Fee may or may not be taken, in whole or in part, as to any year in the sole discretion of
the Advisor. All or any portion of the Disposition Fees not taken as to any fiscal year shall be deferred without interest and may be paid in such other fiscal year as the Advisor shall determine. 

8.04 Subscription Processing Fee.    The Company shall pay the Advisor as compensation for the services described in
Section 3.04(iv) hereof a monthly fee (the “Subscription Processing Fee”) in an amount equal to $35 per subscription agreement for Shares received and processed by the Advisor. The Advisor shall submit a monthly invoice to the
Company, accompanied by a computation of the total amount of the Subscription Processing Fee for the applicable period. Generally, the Subscription Processing Fee payable to the Advisor shall be paid on the last day of such month, or the first
business day following the last day of such month. However, the Subscription Processing Fee may or may not be taken, in whole or in part, as to any year in the sole discretion of the Advisor. All or any portion of the Subscription Processing Fees
not taken as to any fiscal year shall be deferred without interest and may be paid in such other fiscal year as the Advisor shall determine. The Subscription Processing Fee is an Organization and Offering Expense of the Company. 

8.05 Subordinated Share of Cash Flows.    The Subordinated Share of Cash Flows shall be payable to the Advisor in an
amount equal to 15% of Operating Cash Flow and Cash from Sales, Settlements and Financings remaining after Stockholders have received Distributions in an aggregate amount equal to the sum of: 

 

	 	a.	the Stockholders’ 7% Return and 

	 	b.	Invested Capital. 

  
 17 

 When determining whether the above threshold has been met: 

 

	 	(A)	Any stock dividend shall not be included as a Distribution; and 

  

	 	(B)	Distributions paid on Shares redeemed by the Company (and thus no longer included in the determination of Invested Capital), shall not be included as a Distribution. 

Following Listing, no Subordinated Share of Cash Flows will be paid to the Advisor. 

If the Subordinated Share of Cash Flows is payable to the Advisor, the Advisor shall submit a monthly invoice to the Company, accompanied by a
computation of the total amount of the Subordinated Share of Cash Flows for the applicable period. Generally, the Subordinated Share of Cash Flows payable to the Advisor shall be paid on the last day of such month, or the first business day
following the last day of such month. For the avoidance of doubt, to the extent the payment of the Subordinated Share of Cash Flows is funded other than from Cash From Sales and Settlements, such amounts shall be included in Operating Expenses and
subject to the 2%/25% Guidelines. 
 8.06 Subordinated Incentive Fee.    Upon Listing, the Advisor shall be entitled to
the Subordinated Incentive Fee in an amount equal to 15% of the amount by which (i) the market value of the outstanding Shares of the Company, measured by taking the average closing price or the average of the bid and asked price, as the case
may be, over a period of 30 days during which the Shares are traded, with such period beginning 180 days after Listing (the “Market Value”), plus the total of all Distributions paid to Stockholders (excluding any stock dividends) from the
Company’s inception until the date that Market Value is determined, exceeds (ii) the sum of (A) 100% of Invested Capital and (B) the total Distributions required to be paid to the Stockholders in order to pay the
Stockholders’ 7% Return from inception through the date Market Value is determined. The Company shall have the option to pay such fee in the form of cash, Shares, a promissory note or any combination of the foregoing. In the event the
Subordinated Incentive Fee is paid to the Advisor following Listing, no other performance fee will be paid to the Advisor. 
 8.07 Changes
to Fee Structure.    In the event of Listing, the Company and the Advisor shall negotiate in good faith to establish a fee structure appropriate for a perpetual-life entity. 

ARTICLE 9 
 EXPENSES 

9.01 General.    In addition to the compensation paid to the Advisor pursuant to Article 8 hereof, the Company shall pay
directly or reimburse the Advisor for all of the expenses paid or incurred by the Advisor or its 

  
 18 

 
Affiliates on behalf of the Company or in connection with the services provided to the Company pursuant to this Agreement, including, but not limited to: 

(i)  All Organization and Offering Expenses; provided, however, the Company shall not reimburse the Advisor for any
Organization and Offering Expenses that are not fair and commercially reasonable to the Company, and the Advisor shall reimburse the Company for any Organization and Offering Expenses that are not fair and commercially reasonable to the Company;

 (ii)  Acquisition fees and Acquisition Expenses incurred in connection with the selection and acquisition of
Properties, Loans and other Permitted Investments, including such expenses incurred related to assets pursued or considered but not ultimately acquired by the Company, provided that, notwithstanding anything herein to the contrary, the payment of
acquisition fees and Acquisition Expenses by the Company shall be subject to the limitations contained in the Company’s Charter; 

(iii)  The actual out-of-pocket cost of goods and services used by the Company and obtained from entities not
Affiliated with the Advisor; 
 (iv)  Interest and other costs for borrowed money, including discounts, points and
other similar fees; 
 (v)  Taxes and assessments on income or Properties, taxes as an expense of doing business
and any other taxes otherwise imposed on the Company and its business, assets or income; 
 (vi)  Out-of-pocket
costs associated with insurance required in connection with the business of the Company or by its officers and Directors; 

(vii)  Expenses of managing, improving, developing, operating and selling Properties, Loans and other Permitted
Investments owned, directly or indirectly, by the Company, as well as expenses of other transactions relating to such Properties, Loans and other Permitted Investments, including but not limited to prepayments, maturities, workouts and other
settlements of Loans and other Permitted Investments; 
 (viii)  All out-of-pocket expenses in connection with
payments to the Board and meetings of the Board and Stockholders; 
 (ix)  Personnel and related employment costs
incurred by the Advisor or its Affiliates in performing the services described in Article 3 hereof, including but not limited to reasonable salaries and wages, benefits and overhead of all employees directly involved in the performance of such
services, provided that, (a) other than reimbursement of travel and communications expenses, no reimbursement shall be made for compensation of such employees of the Advisor or its Affiliates to the extent that such employees perform services
for which the Advisor receives Acquisition Fees or Disposition Fees and (b) no reimbursement 

  
 19 

 
shall be made for the salaries and benefits the Advisor or its Affiliates may pay to the Company’s executive officers; 

(x)  Out-of-pocket expenses of providing services for and maintaining communications with Stockholders, including
the cost of preparation, printing, and mailing annual reports and other Stockholder reports, proxy statements and other reports required by governmental entities; 

(xi)  Audit, accounting and legal fees, and other fees for professional services relating to the operations of the
Company and all such fees incurred at the request, or on behalf of, the Board or any committee of the Board; 

(xii)  Out-of-pocket costs for the Company to comply with all applicable laws, regulations and ordinances; 

(xiii)  Expenses connected with payments of Distributions made or caused to be made by the Company to the
Stockholders; 
 (xiv)  Expenses of organizing, redomesticating, merging, liquidating or dissolving the Company or
of amending the Charter or the Bylaws; and 
 (xv)  All other out-of-pocket costs incurred by the Advisor in
performing its duties hereunder. 
 9.02 Timing of and Additional Limitations on Reimbursements. 

(i)  Expenses incurred by the Advisor on behalf of the Company and reimbursable pursuant to this Article 9 shall be
reimbursed no less than monthly to the Advisor. The Advisor shall prepare a statement documenting the expenses of the Company during each quarter and shall deliver such statement to the Company within 45 days after the end of each quarter. 

(ii)  After the Company commences a Public Offering, upon the earlier to occur of four fiscal quarters after
(i) the Company’s making of its first investment or (ii) six months after commencement of the Public Offering, the following limitation on Operating Expenses shall apply: The Company shall not reimburse the Advisor at the end of any
fiscal quarter for Operating Expenses that in the four consecutive fiscal quarters then ended (the “Expense Year”) exceed (the “Excess Amount”) the greater of 2% of Average Invested Assets or 25% of Net Income (the “2%/25%
Guidelines”) for such year unless the independent directors, or a committee composed entirely thereof, determines that such excess was justified, based on unusual and nonrecurring factors that the independent directors deem sufficient. If the
independent directors do not approve such excess as being so justified, any Excess Amount paid to the Advisor during a fiscal quarter shall be repaid to the Company. If the independent directors determine such excess was justified, then, within 60
days after the end of any fiscal quarter of the Company for which total reimbursed Operating Expenses for the Expense Year exceed the 

  
 20 

 
2%/25% Guidelines, the Advisor, at the direction of the independent directors, shall cause such fact to be disclosed to the Stockholders in writing (or the Company shall disclose such fact to the
Stockholders in the next quarterly report of the Company or by filing a Current Report on Form 8-K with the SEC within 60 days of such quarter end), together with an explanation of the factors the independent directors considered in determining that
such excess expenses were justified. The Company will ensure that such determination will be reflected in the minutes of the meetings of the Board. All figures used in the foregoing computation shall be determined in accordance with GAAP applied on
a consistent basis. 
 ARTICLE 10 

VOTING AGREEMENT 
 The Advisor
agrees that, with respect to any Shares now or hereinafter owned by it, the Advisor will not vote or consent on matters submitted to the stockholders of the Company regarding (i) the removal of the Advisor or any Affiliate of the Advisor,
(ii) any transaction between the Company and the Advisor or any of its Affiliates, (iii) the election of directors of the Company or (iv) the approval or termination of any contract with the Advisor or any Affiliate of the Advisor.
This voting restriction shall survive until such time that the Advisor is both no longer serving as such and is no longer an Affiliate of the Company. 

ARTICLE 11 
 RELATIONSHIP OF
ADVISOR AND COMPANY; 
 OTHER ACTIVITIES OF THE ADVISOR 

11.01 Relationship.    The Company and the Advisor are not partners or joint venturers with each other, and nothing in
this Agreement shall be construed to make them such partners or joint venturers. Nothing herein contained shall prevent the Advisor from engaging in other activities, including, without limitation, the rendering of advice to other Persons (including
other REITs) and the management of other programs advised, sponsored or organized by the Advisor or its Affiliates. Nor shall this Agreement limit or restrict the right of any manager, director, officer, employee or equityholder of the Advisor or
its Affiliates to engage in any other business or to render services of any kind to any other Person. The Advisor may, with respect to any investment in which the Company is a participant, also render advice and service to each and every other
participant therein. The Advisor shall promptly disclose to the Board the existence of any condition or circumstance, existing or anticipated, of which it has knowledge, that creates or could create a conflict of interest between the Advisor’s
obligations to the Company and its obligations to or its interest in any other Person. 

  
 21 

 11.02 Time Commitment.    The Advisor shall, and shall cause its Affiliates
and their respective employees, officers and agents to, devote to the Company such time as shall be reasonably necessary to conduct the business and affairs of the Company in an appropriate manner consistent with the terms of this Agreement. The
Company acknowledges that the Advisor and its Affiliates and their respective employees, officers and agents may also engage in activities unrelated to the Company and may provide services to Persons other than the Company or any of its Affiliates.

 11.03 Investment Opportunities and Allocation.    The Advisor shall be required to use commercially reasonable
efforts to present a continuing and suitable investment program to the Company that is consistent with the investment policies and objectives of the Company, but neither the Advisor nor any Affiliate of the Advisor shall be obligated generally to
present any particular investment opportunity to the Company even if the opportunity is of character that, if presented to the Company, could be taken by the Company. In the event an investment opportunity is located that may be suitable for the
Company and other programs sponsored by the Advisor or any of its Affiliates, including KBS Realty Advisors, the Advisor, in its sole discretion, will have to determine the program or investor for which the investment opportunity is most suitable
based on the investment objectives, portfolio and criteria of each program or investor. This determination must be made in a manner that is fair without favoring any other program or investor. The factors that the Advisor shall consider when
determining the program or investor for which an investment opportunity would be the most suitable are the following: 
  

	 	•	 	the investment objectives and criteria of each program or investor; 

  

	 	•	 	the cash requirements of each program or investor; 

  

	 	•	 	the effect of the investment on the diversification of each program’s or investor’s portfolio by type of investment, risk of investment, type of commercial property, geographic location of properties, and
tenants of properties and, in the case of debt-related investments, the characteristics of the underlying property; 

  

	 	•	 	the policy of each program or investor relating to leverage; 

  

	 	•	 	the anticipated cash flow of the property or asset to be acquired; 

  

	 	•	 	the income tax effects of the purchase on each program or investor; 

  

	 	•	 	the size of the investment; and 

  

	 	•	 	the amount of funds available to each program or investor and the length of time such funds have been available for investment. 

If a subsequent event or development, such as a delay in the closing of a property or investment or a delay in the construction of a property,
causes any investment, in the opinion of the Advisor, to be more appropriate for another program or investor, they may offer the investment to another program or investor. It shall be the duty of the Board to ensure that the allocation method
described above is applied fairly to the Company. 

  
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 ARTICLE 12 

THE KBS NAME 
 The Advisor and
its Affiliates have a proprietary interest in the name “KBS.” The Advisor hereby grants to the Company a non-transferable, non-assignable, non-exclusive royalty-free right and license to use the name “KBS” during the term of this
Agreement. Accordingly, and in recognition of this right, if at any time the Company ceases to retain the Advisor or one of its Affiliates to perform advisory services for the Company, the Company will, promptly after receipt of written request from
the Advisor, cease to conduct business under or use the name “KBS” or any derivative thereof and the Company shall change its name and the names of any of its subsidiaries to a name that does not contain the name “KBS” or any
other word or words that might, in the reasonable discretion of the Advisor, be susceptible of indication of some form of relationship between the Company and the Advisor or any of its Affiliates. At such time, the Company will also make any changes
to any trademarks, servicemarks or other marks necessary to remove any references to the word “KBS.” Consistent with the foregoing, it is specifically recognized that the Advisor or one or more of its Affiliates has in the past and may in
the future organize, sponsor or otherwise permit to exist other investment vehicles (including vehicles for investment in real estate) and financial and service organizations having “KBS” as a part of their name, all without the need for
any consent (and without the right to object thereto) by the Company. 
 ARTICLE 13 

TERM AND TERMINATION OF THE AGREEMENT 

13.01 Term.    This Agreement shall have an initial term of one year from the date hereof and may be renewed for an
unlimited number of successive one-year terms upon mutual consent of the parties. 
 13.02 Termination by Either
Party.    This Agreement may be terminated upon 60 days written notice without cause or penalty by either the Company or the Advisor. The provisions of Articles 1, 10, 12, 13, 15 and 16 shall survive termination of this
Agreement. 
 13.03 Payments on Termination and Survival of Certain Rights and Obligations.    Payments to the Advisor
pursuant to this Section 13.03 shall be subject to the 2%/25% Guidelines to the extent applicable. 

(i)  After the Termination Date, the Advisor shall not be entitled to compensation for further services hereunder
except it shall be entitled to receive from the Company within 30 days after the effective date of such termination (A) all unpaid reimbursements of expenses and all earned but unpaid fees payable to the Advisor prior to termination of this
Agreement and (B) the Subordinated 

  
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Performance Fee Due Upon Termination, provided that no Subordinated Performance Fee Due Upon Termination will be paid if the Company has paid or is obligated to pay the Subordinated Incentive
Fee. 
 (ii)  The Advisor shall promptly upon termination: 

(a)  pay over to the Company all money collected pursuant to this Agreement, if any, after deducting any accrued
compensation and reimbursement for its expenses to which it is then entitled; 
 (b)  deliver to the Board a full
accounting, including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board; 

(c)  deliver to the Board all assets and documents of the Company then in the custody of the Advisor; and 

(d)  cooperate with the Company to provide an orderly transition of advisory functions. 

ARTICLE 14 
 ASSIGNMENT 

This Agreement may be assigned by the Advisor to an Affiliate with the consent of the Board. The Advisor may assign any rights to receive fees
or other payments under this Agreement without obtaining the approval of the Board. This Agreement shall not be assigned by the Company without the consent of the Advisor, except in the case of an assignment by the Company to a corporation or other
organization that is a successor to all of the assets, rights and obligations of the Company, in which case such successor organization shall be bound hereunder and by the terms of said assignment in the same manner as the Company is bound by this
Agreement. 
 ARTICLE 15 

INDEMNIFICATION AND LIMITATION OF LIABILITY 

The Company shall indemnify, defend and hold harmless the Advisor and its Affiliates, including their respective officers, directors, equity
holders, partners and employees, from all liability, claims, damages or losses arising in the performance of their duties hereunder, and related expenses, including reasonable attorneys’ fees, to the extent such liability, claims, damages or
losses and related expenses are not fully reimbursed by insurance. Notwithstanding the foregoing, the Company shall not provide for indemnification of the Advisor or its Affiliates for any liability or loss suffered by any

  
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of them, nor shall any of them be held harmless for any loss or liability suffered by the Company, unless such liability or loss was not the result of gross negligence or willful misconduct by
the Advisor or its Affiliates. 
 ARTICLE 16 

MISCELLANEOUS 
 16.01
Notices.    Any notice, report or other communication required or permitted to be given hereunder shall be in writing unless some other method of giving such notice, report or other communication is required by the Charter, the
Bylaws or is accepted by the party to whom it is given, and shall be given by being delivered by hand or by overnight mail or other overnight delivery service to the addresses set forth herein: 

To the Company or the Board: 

KBS Strategic Opportunity REIT II, Inc. 

620 Newport Center Drive, Suite 1300 

Newport Beach, California 92660 

To the Advisor: 

KBS Capital Advisors LLC 

620 Newport Center Drive, Suite 1300 

Newport Beach, California 92660 

Either party may at any time give notice in writing to the other party of a change in its address for the purposes of this Section 16.01.

 16.02 Modification.    This Agreement shall not be changed, modified, terminated or discharged, in whole or in part,
except by an instrument in writing signed by both parties hereto, or their respective successors or permitted assigns. 
 16.03
Severability.    The provisions of this Agreement are independent of and severable from each other, and no provision shall be affected or rendered invalid or unenforceable by virtue of the fact that for any reason any other or
others of them may be invalid or unenforceable in whole or in part. 
 16.04 Construction.    The provisions of this
Agreement shall be construed and interpreted in accordance with the laws of the State of Delaware. 
 16.05 Entire
Agreement.    This Agreement contains the entire agreement and understanding between the parties hereto with respect to the subject matter hereof, and supersedes all prior and contemporaneous

  
 25 

 
agreements, understandings, inducements and conditions, express or implied, oral or written, of any nature whatsoever with respect to the subject matter hereof. The express terms hereof control
and supersede any course of performance and/or usage of the trade inconsistent with any of the terms hereof. This Agreement may not be modified or amended other than by an agreement in writing. 

16.06 Waiver.    Neither the failure nor any delay on the part of a party to exercise any right, remedy, power or
privilege under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any right, remedy, power or privilege preclude any other or further exercise of the same or of any other right, remedy, power or privilege,
nor shall any waiver of any right, remedy, power or privilege with respect to any occurrence be construed as a waiver of such right, remedy, power or privilege with respect to any other occurrence. No waiver shall be effective unless it is in
writing and is signed by the party asserted to have granted such waiver. 
 16.07 Gender.    Words used herein
regardless of the number and gender specifically used, shall be deemed and construed to include any other number, singular or plural, and any other gender, masculine, feminine or neuter, as the context requires. 

16.08 Titles Not to Affect Interpretation.    The titles of Articles and Sections contained in this Agreement are for
convenience only, and they neither form a part of this Agreement nor are they to be used in the construction or interpretation hereof. 

16.09 Counterparts.    This Agreement may be executed in any number of counterparts, each of which shall be deemed to be
an original as against any party whose signature appears thereon, and all of which shall together constitute one and the same instrument. This Agreement shall become binding when one or more counterparts hereof, individually or taken together, shall
bear the signatures of all of the parties reflected hereon as the signatories. 
 [The remainder of this page is intentionally left blank.

 Signature page follows.] 

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

							
	KBS STRATEGIC OPPORTUNITY REIT II, INC.
		
	  By:	 	/s/ Keith D. Hall
		 	Keith D. Hall, Chief Executive Officer
	
	KBS CAPITAL ADVISORS LLC
		
	  By: 	 	GKP Holding LLC, a Manager
			
		 	By:	 	/s/ Peter McMillan III
		 		 	Peter McMillan III, Manager
			
		 	By:	 	/s/ Keith D. Hall
		 		 	Keith D. Hall, Manager
		
	By:	 	Schreiber Real Estate Investments, L.P., a Manager
			
		 	By:	 	Schreiber Investments, LLC, as general partner
				
		 		 	By:	 	/s/ Charles J. Schreiber, Jr.
		 		 		 	Charles J. Schreiber, Jr., Manager

  
 27

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