Document:

EX-10.10

 Exhibit 10.10 

MANITOWOC FOODSERVICE 

SEVERANCE PAY PLAN 

 MANITOWOC FOODSERVICE 

SEVERANCE PAY PLAN 

TABLE OF CONTENTS 
  

					
	 Introduction
	  	 	1	  
		
	 This document sets forth the terms of the Manitowoc Foodservice Severance Pay Plan as it applies to individuals employed in the United States. You should
review this document carefully so that you will better understand your rights and benefits under the Plan.
	  			
		
	 Terms and Conditions
	  	 	2	  
		
	 This document uses a number of specific legal terms when defining your rights under the Plan. Whenever a word begins with a capital letter, you should
assume that the word has a specific legal meaning and that the word is defined somewhere in this document. This section defines many of the key terms and conditions that are necessary to your understanding of the Plan.
	  			
		
	 Severance Benefits
	  	 	4	  
		
	 The Plan will provide selected Eligible Employees with severance benefits that are designed to meet the specific facts and circumstances of each such
termination. Severance benefits do not need to be uniform and no Employee shall have any right to any benefits or to any form of benefits except to the extent provided in a valid written severance offer from an authorized representative of Manitowoc
and, if applicable, subject to the terms of a required Release Agreement.
	  			
		
	 Application for Benefits
	  	 	6	  
		
	 In order to receive your benefits, you must file an application for such benefits with the Plan Administrator. This section describes the application
process and your right to have a decision regarding your benefits reviewed.
	  			
		
	 Miscellaneous Information
	  	 	8	  
		
	 The following information is important to your understanding of the Plan and is provided to further clarify how the Plan operates.
	  			
		
	 Legal Rights and Obligations
	  	 	12	  
		
	 This section describes your rights under the Employee Retirement Income Security Act of 1974 (as amended) (“ERISA”).
	  			
		
	 Plan Administration
	  	 	14	  
		
	 You may need to contact Manitowoc or the Plan Administrator if you have any questions regarding the Plan. The following information will help you to do
this.
	  			

  

This document sets forth the terms of the Manitowoc Foodservice Severance Pay Plan as it applies to individuals employed in the United States. You should
review this document carefully so that you will better understand your rights and benefits under the Plan. 
  

 
 Manitowoc Foodservice, Inc.
(“Manitowoc”) has adopted the Manitowoc Foodservice Severance Pay Plan (the “Plan”), as set forth herein. The Plan is designed to help employees of Manitowoc and Related Employers to understand how severance benefits are
determined and administered. No employee is guaranteed to receive any benefits under this Plan. 
 The Plan is an unfunded welfare benefit
plan for purposes of ERISA and a severance pay plan within the meaning of United States Department of Labor regulations Section 2510.3-2(b). The Plan is also intended to be exempt from the application of Code Section 409A. 

This booklet serves as both the Plan document and summary plan description effective as of March 4, 2016. This booklet supersedes any
prior version of the Plan and the Plan itself supersedes any other severance plan, program, policy or other similar arrangement, whether formal or informal, if any, previously maintained by Manitowoc or any other Related Employer. To the extent that
any provision in this booklet is ambiguous or to the extent that it is unclear how the terms should apply in a specific situation, then Manitowoc has the sole discretionary authority to interpret and apply this Plan. 

This booklet is not intended to provide you with tax or legal advice regarding your benefits under the Plan. 

  
 1 

  

This document uses a number of specific legal terms when defining your rights under the Plan. Whenever a word begins with a capital letter, you should
assume that the word has a specific legal meaning and that the word is defined somewhere in this document. This section defines many of the key terms and conditions that are necessary to your understanding of the Plan. 

 
  
  

 Unless a different meaning is clearly required by the context, the following words, when used
in this Plan, shall have the meaning(s) set forth below. 
 (a) Code. The Code refers to the Internal Revenue Code of 1986, as
amended from time to time, and as interpreted by applicable regulations and rulings. 
 (b) Eligible Employees. The Plan is available
only to employees of Manitowoc and other Related Employers. An employee who is covered under a collective bargaining agreement is not eligible to receive any benefits under this Plan. 

(c) ERISA. The Employee Retirement Income Security Act of 1974, as amended from time to time, and as interpreted by applicable
regulations and rulings. 
 (d) Manitowoc. Manitowoc refers to Manitowoc Foodservice, Inc. and any successor thereto. Any action or
authority designated to Manitowoc under this Plan may be exercised by Manitowoc’s Board of Directors or any delegate or designee of the Board of Directors. 

(e) Participant. A Participant shall refer only to an Eligible Employee who is entitled to receive severance benefits in accordance
with a written communication from an authorized representative of Manitowoc. That written communication will describe all benefits that will be provided for an individual Participant in this Plan. Eligible Employees may also be required to execute a
valid Release Agreement in order to become a Participant in the Plan and receive severance benefits under the Plan. 
 (g) Plan. The
Manitowoc Foodservice Severance Pay Plan, as stated herein and as amended from time to time. 
 (h) Plan Administrator. Manitowoc
serves as the Plan Administrator and shall be the named fiduciary that controls and manages the operation and administration of the Plan. 

(i) Plan Year. The calendar year. 

(j) Related Employer. Any entity that is related to Manitowoc (as determined under Code Sections 414(b), (c) or (m)) which,
consistent with written authorization of Manitowoc’s Board of Directors or its express delegate(s), has adopted this Plan. As of the date of this Plan 

  
 2 

 
document, the following entities are Related Employers under this Plan: All Manitowoc subsidiaries with employees in the United States. By its adoption of this Plan, a Related Employer shall be
deemed to appoint Manitowoc as its exclusive agent to exercise on its behalf all power and authority conferred under this Plan. Manitowoc’s authority to act as such agent shall continue until this Plan is terminated by Manitowoc or as to that
respective Related Employer. 
 (k) Release Agreement. A written agreement prepared by an authorized representative of Manitowoc
which sets forth the specific severance benefits offered to the Eligible Employee and requires a release of any claims that the Eligible Employee might have against Manitowoc and/or any Related Employer(s) and employees, agents and officers of
Manitowoc and all Related Employers and other similarly situated individuals. When preparing a Release Agreement, Manitowoc shall act in its capacity as an employer and not in any fiduciary capacity under ERISA. Manitowoc need not use the same
Release Agreement for each Eligible Employee. 

  
 3 

 SEVERANCE BENEFITS 

The Plan will provide selected Eligible Employees with severance benefits that are designed to meet the specific facts and circumstances of each such
termination. Severance benefits do not need to be uniform and no Employee shall have any right to any benefits or to any form of benefits except to the extent provided in a valid written severance offer from an authorized representative of Manitowoc
and, if applicable, subject to the terms of a required Release Agreement. 
  

 
 SEVERANCE BENEFITS 

All severance benefits under this Plan are provided at Manitowoc’s sole discretion and need not be uniform among all employees. In
deciding whether to offer any benefits under this Plan, Manitowoc shall act in its capacity as an employer, and not in any fiduciary capacity under ERISA. No employee of Manitowoc or any Related Employer shall receive any severance, termination or
other similar benefits unless offered under this Plan. 
 Notwithstanding the fact that this Plan does not offer or guarantee any specific
benefits for any Eligible Employee, Manitowoc will generally consider two different types of severance benefits: (a) taxable Severance Pay; and (b) Reimbursement of COBRA Expenses. The Board of Directors and the Compensation Committee of
Manitowoc have the exclusive authority to authorize severance benefits for elected officers of Manitowoc. The Board of Directors and the Compensation Committee have also granted both the Chief Executive Officer and the Senior Vice President of Human
Resources and Administration of Manitowoc the power to individually authorize Plan benefits to other employees of Manitowoc and each Related Employer. No one other than the Board of Directors or the Compensation Committee of Manitowoc, or the
individuals designated above shall have any authority to offer or authorize any severance benefits to any employee of Manitowoc or any Related Employer. 

(a) Severance Pay. Manitowoc may agree to provide cash severance payments to a Participant in either a single lump-sum or in a series
of ongoing payments. Ongoing payments may be limited such that they will end or be reduced to the extent that a Participant secures alternative employment. The Plan Administrator shall be responsible for determining whether Manitowoc has agreed to
provide an Eligible Employee with such benefits and determining whether a Participant continues to be eligible to receive any ongoing benefits under that arrangement. Without limiting its discretion not to pay any severance hereunder, in accordance
with the Employee Matters Agreement between Manitowoc and The Manitowoc Company, Inc., to the extent Manitowoc agrees to provide any cash severance payments to U.S. Transferred Employees (as defined in the Employee Matters Agreement), it will credit
such U.S. Transferred Employees with their service with The Manitowoc Company, Inc. and its affiliates prior to the Manitowoc Foodservice Employment Date (as defined in the Employee Matters Agreement). 

  
 4 

 (b) Reimbursement of COBRA Expenses. Manitowoc may also agree to reimburse a Participant
for some or all of his or her COBRA Expenses for a specified period of time. In order to be eligible for the Reimbursement of COBRA Expenses, the Participant must execute a valid election pursuant to the Consolidated Omnibus Budget Reconciliation
Act of 1985 (“COBRA”) within the applicable time requirements. The Participant must submit proof of COBRA expenditures to the Plan Administrator, and the Plan Administrator shall issue appropriate reimbursements in a timely manner.
Reimbursements for COBRA Expenses may be provided for any period of time and need not be tied to the length or duration of severance benefits noted above. 

(c) Additional Benefits or Perquisites. Manitowoc shall have the authority to provide additional or alternative benefits in addition to
or in lieu of the Severance Pay and/or Reimbursement of COBRA Expenses referenced above. 
 Manitowoc intends for the payments under this
Agreement to be exempt from the application of Code Sections 409A and 280G, but does not guarantee any specific tax results for any individual employee. With the preceding intent in mind, Manitowoc shall not knowingly provide any benefit under this
Plan unless such benefit, when considered together with all other compensation and benefits, qualifies for one or more of the exemptions set forth in Treasury Regulation Sections 1.409A-1(b)(4) (short-term
deferrals), 1.409A-1(b)(5) (stock and equity-based compensation exclusions), 1.409A-1(b)(9) (separation pay plans) and/or
1.409A-1(b)(10) (legal settlements). Similarly, Manitowoc shall not knowingly provide any benefit under this Plan unless, when considered together with all other compensation and benefits, such benefits will
not constitute excess parachute payments under Code Section 280G. 
 WAIVER AND RELEASE 

Some or all of any benefits provided under this Plan may be conditioned upon the Participant’s execution of a valid and binding Release
Agreement. If Manitowoc does require a Release Agreement and that Release Agreement allows the Participant to revoke his or her release after it has been signed, then all benefits that have been conditioned upon the execution of that Release
Agreement shall be deferred until after that revocation period has expired, and such benefits will be conditioned upon the individual not revoking that Release Agreement. 

PAYMENT 
 Severance
benefits will be paid in accordance with such schedule as Manitowoc establishes at the time that severance benefits are offered under this Plan. All legally required taxes and any sums owing to Manitowoc or any other Related Employer shall be
deducted from the severance benefits otherwise paid under this Plan. 

  
 5 

  

In order to receive your benefits, you must file an application for such benefits with the Plan Administrator. This section describes the application
process and your right to have a decision regarding your benefits reviewed. 
  

 
  

 FILING AN APPLICATION 

If you (or your beneficiary) believe that you are entitled to a benefit under the Plan, you should submit an application for benefits (a claim)
to the Plan Administrator. Your application should be in writing, and may be required to be on a form provided by the Plan Administrator. 

DECISION ON APPLICATION 

Unless special circumstances exist, the Plan Administrator will process an application within ninety (90) days after the application is
filed. Within that ninety- (90-) day period, you should receive either a notice of the decision or a notice that: (a) explains the special circumstances which are causing the delay; and (b) sets a date, no later than one hundred and eighty
(180) days after the Administrator received your application, by which the Administrator expects to render the final decision. 

LACK OF NOTICE 
 If you do
not receive a notice within the time described above, you can assume that your claim has been denied, and you may file a request for appeal as described below. 

DENIAL OF CLAIM 
 If the
Plan Administrator partially or wholly denies your application for benefits, you will receive a written notice which will include: (a) the specific reason or reasons for the denial; (b) specific references to pertinent provisions of the
Plan document on which the denial is based; (c) a description of any additional material or information which you must provide to prove your claim, and an explanation of why that material or information is needed; and (d) the steps you
must take to appeal the denial of your claim. You may file a request for appeal as described below. 

  
 6 

 RIGHT TO APPEAL A DENIED CLAIM 

You or your duly authorized representative may file a written appeal of the denial with the Plan Administrator no later than sixty
(60) days after you receive the notice that your claim has been partially or wholly denied. You may include any issues, comments, statements or documents that you wish to provide with your written appeal. You or your duly authorized
representative may review all pertinent Plan documents when preparing your request. 
 FINAL DECISION ON APPEALED CLAIM 

In most instances, the Plan Administrator will issue a final decision on an appeal within sixty (60) days after the Plan Administrator
receives the appeal request. If the Plan Administrator is unable to process your appeal within sixty (60) days, you will receive an extension notice before the sixty- (60-) day period expires. The extension notice will include: (a) the
special circumstances (such as the need to hold a hearing) which are causing the delay; and (b) the date, no later than one hundred and twenty (120) days after the date the Plan Administrator received your written appeal, by which the
Administrator expects to render the final decision. The Plan Administrator’s decision will explain the reasons for the decision and will refer to the provisions of the Plan document on which the decision is based. If you do not receive a notice
within the time periods described in this paragraph, you may assume that your appeal has been denied on review. If you do not follow the claim application and appeal procedures set forth in this section, you will be precluded from later bringing any
action, in either state or federal court or any other forum, for benefits under this Plan. 

  
 7 

  

The following information is important to your understanding of the Plan and is provided to further clarify how the Plan operates. 

 
  
  

 PLAN ADMINISTRATOR 

Manitowoc has the exclusive right to serve as the Plan Administrator or to appoint another individual, entity, or group of individuals or
entities to serve as the Plan Administrator. Any person or entity appointed to serve in lieu of Manitowoc may resign at any time by filing a written notice of resignation with Manitowoc and may be removed at any time by Manitowoc. 

The Plan Administrator shall administer the Plan in accordance with its terms and shall have all powers necessary to effectuate the provisions
of the Plan. The Plan Administrator shall have the exclusive right to interpret the Plan, shall determine all questions arising in the administration, interpretation and application of the Plan documents, to resolve ambiguities, inconsistencies and
omissions related thereto, and shall, from time to time, formulate and issue such rules and regulations as may be necessary for the purpose of administering the Plan. Any interpretation, determination, rule or regulation issued by the Plan
Administrator shall be conclusive and binding on all persons. In any review of such an interpretation, determination, rule or regulation, the Plan Administrator’s decision shall be given deference and shall be set aside by a reviewing tribunal
only in the event the Plan Administrator acted in an arbitrary and capricious manner. 
 The Plan Administrator and all fiduciaries of this
Plan shall discharge their duties with respect to the Plan solely in the interest of the Eligible Employees, for the exclusive purpose of providing benefits to Eligible Employees and their beneficiaries and deferring reasonable expenses of
administering the Plan with care, skill, prudence and diligence under the circumstances then prevailing that a prudent man acting in a like capacity and familiar with such matters would use and in accordance with the Plan documents and instruments,
insofar as such documents and instruments are consistent with the provisions of ERISA and any acts amendatory thereto. 
 The Plan
Administrator shall maintain accounts showing the fiscal transactions of the Plan and such books and records as may be necessary to comply with ERISA, governmental regulations issued thereunder and other applicable law. The Plan Administrator shall
timely file or cause to be timely filed, all annual reports, financial and other statements as may be required of the Plan Administrator by any federal or state statute, agency or authority. The Plan Administrator shall timely furnish or cause to be
furnished, all such reports, statements and other documents as may be required by any federal or state statute, agency or authority to be furnished by the Plan Administrator to any Eligible Employee, beneficiary or interested party. 

The Plan Administrator shall have the authority to accept service of process on behalf of the Plan. 

  
 8 

 To the extent that a fiduciary may be relieved of liability under Section 410(a) of ERISA
for a breach of any responsibility, obligation or duty imposed by Title 1, Part 4 of ERISA, no fiduciary shall be liable for any action or failure to act hereunder, except for bad faith, willful misconduct or gross negligence. To the extent that a
fiduciary may be relieved of liability under Section 410(a) of ERISA for a breach of another fiduciary of any responsibility, obligation or duty imposed by Title 1, Part 4 of ERISA, no fiduciary shall be personally liable for a breach committed
by any other fiduciary, unless the fiduciary: (a) knowingly participated in or knowingly concealed a breach by such other fiduciary; (b) by his failure to comply with his fiduciary duties, has enabled such other fiduciary to commit a
breach; or (c) has failed to make reasonable efforts under the circumstances to remedy the breach of another fiduciary of which he has knowledge. To the same extent, no fiduciary shall be personally liable for the acts or omissions of any
attorney or agent employed by a fiduciary hereunder, if such attorney or agent shall have been selected with reasonable care. 
 PLAN
PERMANENCY 
 Manitowoc reserves the right to amend the Plan in every respect at any time, either before or after termination hereof, or
from time to time (and retroactively if deemed necessary or appropriate to conform to governmental regulations or other policies). Manitowoc also reserves the right to terminate this Plan at any time. Any action to amend or terminate this Plan may
be taken by Manitowoc’s Board of Directors or its express delegate(s). 
 LIMITATION ON LIABILITY 

In no event shall the Plan Administrator or any employee, officer or director of the Plan Administrator incur any liability for any act or
failure to act unless such act or failure to act constitutes a lack of good faith, willful misconduct or gross negligence with respect to the Plan. 

COMPLIANCE WITH ERISA 

Notwithstanding any other provisions of this Plan, a fiduciary or other person shall not be relieved of any responsibility or liability for any
responsibility, obligation or duty imposed upon such person pursuant to ERISA. 
 NONALIENATION OF BENEFITS 

Neither Eligible Employees nor Participants have any vested right to benefits under this Plan. Plan benefits shall not be subject to
anticipation, alienation, pledge, sale, transfer, assignment, garnishment, attachment, execution, encumbrance, levy, lien or charge. Any attempt to anticipate, alienate, sell, transfer, assign, pledge, encumber, charge or otherwise dispose of any
right to Plan benefits shall be void, except to the extent required by law. 

  
 9 

 EMPLOYMENT NOT GUARANTEED 

The establishment of this Plan, its amendments and the granting of a benefit pursuant to the Plan shall not give any individual the right to
continued employment with Manitowoc or any Related Employer, or limit the right of Manitowoc or any Related Employer to dismiss or impose penalties upon the individual or modify the terms of employment of any individual. 

ERRONEOUS OR EXCESSIVE PAYMENTS 

In the event any payment is made under this Plan to any individual who is not entitled to such payment (whether such payment is made as the
result of a mistake of fact or law), the individual shall return such erroneous or excessive payment(s). The Plan Administrator shall have the right to bring legal action to recover such amounts and/or reduce future payments due to such individual
by the amount of any such erroneous or excessive payment(s). This provision shall not limit the rights of the Plan Administrator to recover such overpayments in any other manner. 

CONTRARY REPRESENTATIONS 

No employee, officer, or director of Manitowoc or any Related Employer has the authority to alter, vary, or modify the terms of the Plan except
by means of an authorized written amendment to the Plan that is approved by Manitowoc’s Board of Directors or its express delegate(s). No verbal representations contrary to the terms of the Plan and its written amendments shall be binding upon
the Plan, the Plan Administrator, Manitowoc or any Related Employer. 
 NO FUNDING 

No individual shall acquire, by reason of this Plan, any right in or title to any assets, funds, or property of Manitowoc or any Related
Employer. Any severance pay benefits that become payable under the Plan are unfunded obligations of Manitowoc and shall be paid from Manitowoc’s general assets. No employee, officer, director or agent of Manitowoc or any Related Employer
guarantees in any manner the payment of benefits under this Plan. 
 APPLICABLE LAW 

This Plan shall be governed and construed in accordance with ERISA and in the event that any references shall be made to state law, the
internal laws of the State of Wisconsin shall apply. 

  
 10 

 OFFSET 

The benefits payable under this Plan, if any, are the maximum amount made available to any employee of Manitowoc and each Related Employer due
to an involuntary termination of employment. To the extent that a federal, state or local law may mandate that Manitowoc or a Related Employer make a payment to any individual due to his or her involuntary termination of employment, that
individual’s benefit(s) under this Plan, if any, shall be reduced by such amount. 
 SEVERABILITY 

If any provision of the Plan is found, held, or deemed by a court of competent jurisdiction to be void, unlawful or unenforceable under any
applicable statute or other controlling law, the remainder of the Plan shall continue in full force and effect. 

  
 11 

  

This section describes your rights under the Employee Retirement Income Security Act of 1974 (as amended) (“ERISA”). 

 
  
  

 Eligible Employees are entitled to certain rights and protections pursuant to the Employee
Retirement Income Security Act of 1974 (“ERISA”). Each Employer and the Plan Administrator intends to operate the Plan fairly and to comply fully with ERISA. If you have a question about the Plan, how it is run and how it affects you, you
should contact the Plan Administrator. ERISA provides that all Plan participants shall be entitled to: 
 (a) Examine without charge at
Manitowoc’s office and at each Related Employer location, all Plan documents, including insurance contracts and copies of all documents filed by the Plan with the U.S. Department of Labor, such as detailed annual reports and Plan descriptions.

 (b) Obtain copies of all Plan documents and other Plan information upon written request to the Plan Administrator; the Plan Administrator
may make a reasonable charge for the copies. 
 (c) Receive a summary of the Plan’s annual financial report. The Plan Administrator is
required by law to furnish each participant with a copy of this summary annual report. 
 In addition to creating rights for Plan
participants, ERISA imposes duties on the people who are responsible for the operation of the Plan. The people who operate the Plan, the Plan Administrator and other appointed advisors, called “fiduciaries” of the Plan, have a duty to
operate the Plan prudently and in the interest of you and other Eligible Employees. No one, including your employer or any other person, may fire you or otherwise discriminate against you in any way to prevent you from obtaining a payment or
exercising your rights under ERISA. If your claim for payment is denied in whole or in part, you must receive a written explanation of the reason for the denial. You have the right to have the Plan review and reconsider your claim. Under ERISA,
there are steps you can take to enforce the above rights. For instance, if you request materials from the Plan and do not receive them within 30 days, you may file suit in a federal court. In such a case, the court may require the Plan Administrator
to provide the materials and pay you up to $110 a day until you receive the materials, unless the materials were not sent because of reasons beyond the control of the Plan Administrator. If you have a claim for benefits which is denied or ignored,
in whole or in part, you may file suit in a state or federal court. If it should happen you are discriminated against for asserting your rights, you may seek assistance from the U.S. Department of Labor, or you may file suit in a federal court. The
court will decide who should pay court costs and legal fees. If you are successful, the court may order the person you have sued to pay these costs and fees. If you lose, the court may order you to pay these costs and fees. (For example, if it finds
your claim is frivolous.) 

  
 12 

 If you have any questions about your Plan, you should contact the Plan Administrator. If you have
any questions about this statement or about your rights pursuant to ERISA, you should contact the nearest office of the Employee Benefits Security Administration, U.S. Department of Labor. 

  
 13 

  

You may need to contact Manitowoc or the Plan Administrator if you have any questions regarding the Plan. The following information will help you to do
this. 
  
  

 

  

			
	Plan Sponsor	  	Manitowoc Foodservice, Inc.
		  	2227 Welbilt Boulevard
		  	New Port Richey, FL 34655
		
	Plan Administrator and Agent	  	Manitowoc Foodservice, Inc.
	For Service of Legal Process	  	2227 Welbilt Boulevard
		  	New Port Richey, FL 34655
		
	Employer Identification Number	  	47-4625716
		
	Plan Identification Number	  	503
		
	Plan Year	  	January 1 through December 31

  
 14Exhibit

Exhibit 10.10

NORTHSTAR/RXR NEW YORK METRO REAL ESTATE, INC.
AMENDED AND RESTATED ESCROW AGREEMENT
THIS AMENDED AND RESTATED ESCROW AGREEMENT (the “Agreement”) is made and entered into as of the 12th  day of November, 2015, by and among NorthStar/RXR New York Metro Real Estate, Inc. (formerly known as “NorthStar/RXR New York Metro Income, Inc.), a Maryland corporation (the “Company”), NorthStar Securities, LLC (formerly known as NorthStar Realty Securities, LLC) (the “Dealer Manager”) and UMB Bank, N.A., as escrow agent (the “Escrow Agent”).
WHEREAS, the Company proposes to offer for sale (the “Offering”), on a continuing basis, up to $1,800,000,000 in Class A shares and Class T shares of the Company’s common stock, par value $0.01 per share (collectively, the “Shares”) (excluding the shares of its common stock to be offered and sold pursuant to the Company’s distribution reinvestment plan), pursuant to the terms of the prospectus (the “Prospectus”) attached hereto as Exhibit A and contained in the registration statement on Form S-11, as amended, originally filed with the Securities and Exchange Commission on November 26, 2014 under the Securities Act of 1933;
WHEREAS, the Company, the Dealer Manager and the Escrow Agent previously entered into that certain Escrow Agreement, dated February 4, 2015 (the “Original Escrow Agreement”);
WHEREAS, the board of directors of the Company has determined to reclassify the Shares offered pursuant to the Offering into Class A shares, $0.01 par value per share, and Class T shares, $0.01 par value per share, and, as a result, the Company, the Dealer Manager and the Escrow Agent desire to amend and restate the Original Escrow Agreement to reflect the reclassification of Shares.
WHEREAS, the Dealer Manager is a registered broker-dealer and member of the Financial Industry Regulatory Authority, Inc. (“FINRA”) and has entered into an agreement with the Company and NorthStar/RXR Operating Partnership, LP to serve as the dealer manager for the Offering (the “DMA”) and will offer the Shares through other participating dealers that are registered under applicable federal and state securities laws and that are members of FINRA (the “Dealers”);
WHEREAS, it is anticipated that investors will subscribe for the Shares and will provide the Dealers with subscription payments for such Shares (the “Subscription Payments”), which subscriptions will be contingent upon (i) their respective acceptances by the Company and (ii) the Company’s acceptance of Subscription Payments aggregating $2,000,000 (the “Minimum Amount”) deposited into escrow;
WHEREAS, the Company, the Dealer Manager (with respect to any sales made by the Dealer Manager) or the Dealers desire to deposit funds contributed by the Subscribers (as defined below) with the Escrow Agent, to be held for the benefit of the Subscribers (as defined below) and the Company until such time as subscriptions for the Minimum Amount have been deposited into escrow or otherwise in accordance with the terms of this Agreement;
WHEREAS, the Escrow Agent has agreed to receive and hold in escrow all Subscription Payments until the earlier of (i) such time as subscriptions for the Minimum Amount have been received and accepted by the Company or (ii) the close of business on the date exactly one year after the original effective date of the Prospectus (the Company shall provide written notice of such date to the Escrow Agent) (the “Minimum Subscription Termination Date”), and to hold and distribute such Subscription Payments in accordance with the terms and conditions herein set forth; and
WHEREAS, the Escrow Agent is willing to accept appointment as the escrow agent for only the expressed duties, terms and conditions outlined herein.
NOW, THEREFORE, in consideration of the premises and agreements set forth herein, the parties hereto agree as follows:

NORTHSTAR/RXR NEW YORK METRO REAL ESTATE, INC.
AMENDED AND RESTATED ESCROW AGREEMENT

1.    Appointment of Escrow Agent. The Company and the Dealer Manager hereby appoint the Escrow Agent to serve as escrow agent, and the Escrow Agent hereby accepts such appointment, each in accordance with the terms of this Agreement.
2.    Subscription Payments. An investor subscribing to purchase Shares (the “Subscriber”) will be instructed by the Dealer Manager (with respect to any sales made by the Dealer Manager) or the Dealers to remit the purchase price in the form of checks, drafts or money orders (the “Payment Instruments”) payable to the order of, or funds wired in favor of, “UMB Bank, N.A., as escrow agent for NorthStar/RXR New York Metro Real Estate, Inc.” or “UMB Bank, N.A., as escrow agent for NorthStar/RXR New York Metro Real Estate” (the “Escrow Account”), or, after the Company meets the Minimum Amount, payable to the order of, or funds wired in favor of “NorthStar/RXR New York Metro Real Estate, Inc.” or “NorthStar/RXR New York Metro Real Estate.” Any Payment Instrument not conforming to the foregoing instructions shall be returned to the Subscriber not later than the end of the next business day following receipt by the Dealer Manager (with respect to any sales made by the Dealer Manager) or the Dealers of such Payment Instrument.  Payment Instruments received by the Dealer Manager (with respect to any sales made by the Dealer Manager) which conform to the foregoing instructions shall be transmitted by noon of the next business day following receipt by the Dealer Manager to the Escrow Agent or, after the Company has received and accepted the Minimum Amount, to the Company as indicated in the foregoing instructions.  Payment Instruments received by the Dealers which conform to the foregoing instructions shall be transmitted for deposit pursuant to one of the following methods: (i) where, pursuant to a Dealer’s internal supervisory procedures, internal supervisory review is conducted at the same location at which Payment Instruments are received from subscribers, then, by noon of the next business day following receipt by such Dealer, the Dealer will transmit the Payment Instrument to the Escrow Agent or, after the Company has received and accepted the Minimum Amount, to the Company as indicated in the foregoing instructions; and (ii) where, pursuant to a Dealer’s internal supervisory procedures, final internal supervisory review is conducted at a different location (the “Final Review Office”), then Payment Instruments will be transmitted by such Dealer to the Final Review Office by noon of the next business day following receipt by such Dealer.  The Final Review Office will in turn, by noon of the next business day following receipt by the Final Review Office, transmit such Payment Instrument to the Escrow Agent or, after the Company has received and accepted the Minimum Amount, to the Company as indicated in the foregoing instructions.  Such Subscription Payments shall be retained in the Escrow Account by the Escrow Agent and invested as set forth in Section 7 and shall be deposited within one (1) business day of receipt.
In the event that any Payment Instruments deposited in the Escrow Account prove uncollectible after the funds represented thereby have been released by the Escrow Agent to the Company, then the Company shall promptly reimburse the Escrow Agent for any and all costs incurred for such, upon request, and the Escrow Agent shall deliver the uncollectible Payment Instrument to the Company. The Escrow Agent shall be under no duty or responsibility to enforce collection of any check delivered to it hereunder. Notwithstanding the foregoing, if any Subscriber exercises any right provided by law to rescind his or her subscription, the Escrow Agent shall, upon notice from the Company or the Dealer Manager, return to such Subscriber all Subscription Payments pertaining to such subscription, together with any earnings thereon during the period that such payments were held by the Escrow Agent under this Agreement.
3.    Subscriber Identity.  All Subscription Payments deposited shall be considered the property of the Subscribers and shall be held for the benefit of such Subscribers and shall not be: (i) commingled with the monies or become an asset of the Company, (ii) subject to any claim by any affiliate of the Company, any associate of the Company or any underwriter or (iii) subject to any liens or charges by the Company or the Escrow Agent, or judgments or creditors’ claims against the Company, until released to the Company as hereinafter provided. The Escrow Agent will not use any information received by it for any purpose other than to fulfill its obligations as the Escrow Agent. The Escrow Agent agrees to treat all Subscriber information as confidential and to treat the Subscriber’s identity and personal information as protected under the Gramm Leach-Bliley Act and the privacy standards and requirements of any other applicable federal or state law, and its own internal privacy policies and procedures, each as may be amended from time to time.
4.    Disbursement of Subscription Payments and Escrow Income. On a weekly basis, and at the end of the third business day following the Minimum Subscription Termination Date (and more frequently, if 

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NORTHSTAR/RXR NEW YORK METRO REAL ESTATE, INC.
AMENDED AND RESTATED ESCROW AGREEMENT

requested by the Company), the Escrow Agent shall notify the Company of the amount of Subscription Payments received and collected (the “Collected Funds”) since the last report. If the Collected Funds are in an amount equal to or greater than the Minimum Amount at any time prior to the Minimum Subscription Termination Date, and the Company has delivered a written notice (the “Notice”) stating that the Company has received Collected Funds for the Minimum Amount and the Dealer Manager has confirmed that all of the conditions precedent to the release of the subscriptions from escrow pursuant to Section 6 of the DMA have been satisfied, then the Escrow Agent shall deliver the Collected Funds and all earnings thereon to the Company when and as directed by the Notice. After the Minimum Amount has been raised, the Escrow Account shall remain open for ten business days. At the close of business on the tenth business day following the date on which the Minimum Amount is raised, the Escrow Agent will close the Escrow Account. Until the Escrow Account closes, Subscription Payments may continue to be deposited into the Escrow Account; provided, however, that at the instruction of the Company to the Escrow Agent, Subscription Proceeds shall either be (i) transferred from the Escrow Account to the Company’s transfer agent for deposit into an account designated by the Company or (ii) deposited directly into a commercial account in the name of the Company that has previously been established by the Company with the Escrow Agent.
If the Collected Funds are not greater than or equal to the Minimum Amount on the Minimum Subscription Termination Date, the Escrow Agent shall (i) notify the Company and the Dealer Manager immediately following the Minimum Subscription Termination Date and (ii) promptly following the Minimum Subscription Termination Date refund to each of the Subscribers all sums paid by the Subscribers, with a pro rata portion of any interest earned thereon.
In the event the Escrow Agent receives written notice from the Company or the Dealer Manager that the Company or the Dealer Manager has rejected a Subscriber’s subscription, the Escrow Agent shall pay to the applicable Subscriber, within ten (10) business days after receiving notice of the rejection, by first class United States Mail the Subscription Payment paid by the Subscriber for Shares and collected by the Escrow Agent, without interest and without deduction.
5.    Duty and Liability of the Escrow Agent. The sole duty of the Escrow Agent, other than as herein specified, shall be to receive the Subscription Payments and hold them subject to release, in accordance herewith, and the Escrow Agent shall be under no duty to determine whether the Company or the Dealer Manager is complying with requirements of this Agreement or the Prospectus in tendering to the Escrow Agent said proceeds of the sale of the Shares. The Escrow Agent shall have the right to perform any of its duties hereunder through its agents, attorneys, custodians or nominees. The Escrow Agent may conclusively rely upon and shall be protected in acting upon any statement, certificate, notice, request, consent, order or other document reasonably believed by it to be genuine and to have been signed or presented by the proper party or parties. The Escrow Agent shall have no duty or liability to verify any such statement, certificate, notice, request, consent, order or other document, and its sole responsibility shall be to act only as expressly set forth in this Agreement. The Escrow Agent shall be under no obligation to institute or defend any action, suit or proceeding in connection with this Agreement unless first indemnified to its satisfaction. The Escrow Agent may consult and hire counsel in respect of any question arising under this Agreement, and the Escrow Agent shall not be liable for any action taken or omitted in good faith upon advice of such counsel.
The Escrow Agent is acting solely as escrow agent hereunder and owes no duties, covenants or obligations, fiduciary or otherwise, to any other person by reason of this Agreement, except as otherwise stated herein, and no implied duties, covenants or obligations, fiduciary or otherwise, shall be read into this Agreement against the Escrow Agent. In no event shall the Escrow Agent be liable, directly or indirectly, for any (i) damages, losses or expenses arising out of the services provided hereunder, other than damages, losses or expenses which have been finally adjudicated to have directly resulted from the Escrow Agent’s gross negligence or willful misconduct, or (ii) special, indirect or consequential losses or damages of any kind whatsoever (including without limitation lost profits), even if the Escrow Agent has been advised of the possibility of such losses or damages and regardless of the form of action. The parties agree that the Escrow Agent has no role in the preparation of the Prospectus or other Offering documents, has not reviewed any such documents and makes no representations or warranties with respect to the information contained therein or omitted therefrom. The Escrow Agent agrees that it may be named in the Prospectus and Offering documents, solely to the extent necessary to describe this Agreement 

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 NORTHSTAR/RXR NEW YORK METRO REAL ESTATE, INC.
AMENDED AND RESTATED ESCROW AGREEMENT

and the duties of the Escrow Agent herein. The Escrow Agent shall have no obligation, duty or liability with respect to compliance with any federal or state securities, disclosure or tax laws concerning the Offering documents or the issuance, offering or sale of the Shares. The Escrow Agent shall have no duty or obligation to monitor the application and use of the Subscription Payments once transferred to the Company, that being the sole obligation and responsibility of the Company. No provision of this Agreement shall require the Escrow Agent to risk or advance its own funds or otherwise incur any financial liability in the performance of its duties or the exercise of its rights hereunder.
6.    Escrow Agent Fee. The Escrow Agent shall be entitled to compensation for its services, as stated in the fee schedule attached hereto as Exhibit B, which compensation shall be paid by the Company. Subject to the provisions of Section 10, the fee agreed upon for the services rendered hereunder in Exhibit B is intended as full compensation for the Escrow Agent’s services as contemplated by this Agreement. Notwithstanding anything contained herein to the contrary, in no event shall any fee, reimbursement for costs and expenses, indemnification for damages incurred by the Escrow Agent or monies whatsoever be paid out of or chargeable to the income of assets of the Escrow Account. The Company’s obligations under this Section 6 shall survive the resignation or removal of the Escrow Agent and the assignment or termination of this Agreement.
7.    Investment of Subscription Payments. The Escrow Agent shall invest all Collected Funds in a UMB Bank, N.A. Money Market Deposit Account, titled UMB Money Market Special, unless otherwise instructed in writing by the Company.
Any interest received by the Escrow Agent with respect to the Collected Funds, including reinvested interest, shall become part of the proceeds of the Escrow Account (the “Escrow Income”), and shall be disbursed to the Company if Collected Funds, including interest earnings, total the Minimum Amount. Any loss or expense incurred as a result of an investment or sale of investment will be borne by the Escrow Account.
The parties recognize and agree that the Escrow Agent will not provide supervision, recommendations or advice relating to either the investment of moneys held in the Escrow Account or the purchase, sale, retention or other disposition of any permitted investment.
The Escrow Agent is hereby authorized to execute purchases and sales of permitted investments through the facilities of its own trading or capital markets operations or those of any affiliated entity. The Escrow Agent shall send statements to each of the parties hereto on a monthly basis reflecting activity in the Escrow Account for the preceding month. No statement need be rendered for the Escrow Account if no activity occurred for such month.
The Company and the Dealer Manager acknowledge and agree that the delivery of the escrowed property is subject to the sale and final settlement of permitted investments. Proceeds of a sale of permitted investments will be delivered on the business day on which the appropriate instructions are delivered to the Escrow Agent if received prior to the deadline for same day sale of such permitted investments. If such instructions are received after the applicable deadline, proceeds will be delivered on the next succeeding business day.
8.    Tax Reporting. As of each calendar year-end, the Escrow Agent shall report to the Internal Revenue Service (the “IRS”) and to the Company or Subscribers all income earned from the investment of any sum held in the Escrow Account against the Company or each Subscriber, as and to the extent required under the provisions of the Internal Revenue Code of 1986, as amended, and the regulations promulgated thereunder (the “Code”). For the avoidance of doubt, all interest or other taxable income earned on the Collected Funds in any tax year shall be taxable to the person or entity receiving the interest or other taxable income.
On or before the date hereof, the Company shall provide the Escrow Agent with a certified tax identification number by furnishing appropriate IRS form W-9 or W-8 and other forms and documents that the Escrow Agent may reasonably request, including without limitation a form W-9 or W-8 for each Subscriber. The parties hereto understand that if such tax reporting documentation is not so certified to the Escrow Agent, the Escrow Agent may be required by the Internal Revenue Code of 1986, as amended, to withhold a portion of any interest or other income earned on the Collected Funds pursuant to this Agreement for the Escrow Agent is not required to prepare and file any income or other tax returns applicable to the Escrow Account with the IRS or 

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NORTHSTAR/RXR NEW YORK METRO REAL ESTATE, INC.
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required state and local departments of revenue for years income is earned in any particular tax year. Any taxes payable on income earned from the investment of any sums held in the Escrow Account shall be paid by the Company or each Subscriber in the year in which disbursed and to the extent required under the provisions of the Code.
To the extent that the Escrow Agent becomes liable for the payment of any taxes in respect of income derived from the investment of funds held or payments made hereunder, the Escrow Agent shall satisfy such liability to the extent possible from the Collected Funds. The Company agrees to indemnify and hold the Escrow Agent harmless from and against any taxes, additions for late payment, interest, penalties and other expenses that may be assessed against the Escrow Agent on or with respect to any payment or other activities under this Agreement unless any such tax, addition for late payment, interest, penalties and other expenses shall arise out of or be caused by the gross negligence or willful misconduct of the Escrow Agent. The terms of this paragraph shall survive the assignment or termination of this Agreement and the resignation or removal of the Escrow Agent.
9.    Notices. All notices, requests, demands and other communications under this Agreement shall be in writing and shall be deemed to have been duly given (i) on the date of service if served personally on the party to whom notice is to be given, (ii) on the day of transmission if sent by electronic transmission, and confirmation of receipt is obtained promptly after completion of transmission, (iii) on the day of transmission if sent by facsimile transmission to the facsimile number given below, and written confirmation of receipt is obtained promptly after completion of transmission, (iv) on the day after delivery to the United Parcel Service or similar overnight courier or the Express Mail service maintained by the United States Postal Service and sent via overnight delivery or (v) on the fifth day after mailing, if mailed to the party to whom notice is to be given, by first class mail, registered or certified, postage prepaid, and properly addressed, return receipt requested, to the party as follows:
If to Company:
NorthStar/RXR New York Metro Real Estate, Inc.
399 Park Avenue, 18th Floor
New York, New York 10022
Attention: Ronald J. Lieberman, Executive Vice President, General Counsel and Secretary
Fax: (212) 547-2700
If to the Dealer Manager:
NorthStar Securities, LLC
5299 DTC Blvd., Ste. 900
Greenwood Village, CO 80111
Attention: W. Timothy Toole
Fax: (303) 648-5142
If to the Escrow Agent:
UMB Bank, N.A.
1010 Grand Blvd, 4th Floor
Corporate Trust & Escrow Services
Attention: Lara L. Stevens
Kansas City, MO 64106
Email: lara.stevens@umb.com
Fax: (816) 860-3029
Checks should be delivered to the following address:
UMB Bank, N.A.
1010 Grand Blvd, 4th Floor
Corporate Trust & Escrow Services

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 NORTHSTAR/RXR NEW YORK METRO REAL ESTATE, INC.
AMENDED AND RESTATED ESCROW AGREEMENT

Attention: Lara L. Stevens
Kansas City, MO 64106
Acct Name: UMB Escrow Agent for NorthStar/RXR New York Metro Real Estate, Inc.
Wires to the Escrow Agent should be directed to the following:
UMB Bank, N.A.
ABA: 101000695
A/C #: 9872189213
Trust Clearing Acct
Ref: NorthStar/RXR New York Metro Real Estate, Inc.
Attention: Lara L. Stevens
Any party may change its address for purposes of this paragraph by giving the other party written notice of the new address in the manner set forth above.
10.    Indemnification of the Escrow Agent. The Company and the Dealer Manager hereby jointly and severally indemnify, defend and hold the Escrow Agent (and its officers, directors, employees and agents) harmless from and against any and all loss, claim, liability, cost, damage and expense, including, without limitation, reasonable counsel fees and expenses, which the Escrow Agent may suffer or incur by reason of any action, claim or proceeding brought against the Escrow Agent arising out of or relating in any way to this Agreement or any transaction to which this Agreement relates unless such action, claim or proceeding is the result of the willful misconduct or gross negligence of the Escrow Agent. The provisions of this section shall survive the termination of this Agreement and the resignation or removal of the Escrow Agent.
11.        Attachment of Escrow Account; Compliance with Legal Orders. In the event that any escrow property shall be attached, garnished or levied upon by any court order, or the delivery thereof shall be stayed or enjoined by an order of a court, or any order, judgment or decree shall be made or entered by any court order affecting the property deposited under this Agreement, the Escrow Agent is hereby expressly authorized, in its sole discretion, to obey and comply with all writs, orders or decrees so entered or issued, which it is advised by legal counsel of its own choosing is binding upon it, whether with or without jurisdiction, and in the event that the Escrow Agent obeys or complies with any such writ order or decree it shall not be liable to any of the parties hereto or to any other person, firm or corporation, by reason of such compliance notwithstanding such writ, order or decree being subsequently reversed, modified, annulled, set aside or vacated.
12.    Successors and Assigns.
(i)    Except as otherwise provided in this Agreement, no party hereto shall assign this Agreement or any rights or obligations hereunder without the prior written consent of the other parties hereto and any such attempted assignment without such prior written consent shall be void and of no force and effect. This Agreement shall inure to the benefit of and shall be binding upon the heirs, executors, administrators, successors and permitted assigns of the parties hereto.
(ii)    Notwithstanding the above, any corporation or association into which the Escrow Agent may be converted or merged, or with which it may be consolidated, or to which it may sell or transfer all or substantially all of its corporate trust business and assets as a whole or substantially as a whole, or any corporation or association resulting from any such conversion, sale, merger, consolidation or transfer to which the Escrow Agent is a party, shall be and become the successor Escrow Agent under this Agreement and shall have and succeed to the rights, powers, duties, immunities and privileges as its predecessor, without the execution or filing of any instrument or paper or the performance of any further act.
13.        Term. This Agreement shall terminate within thirty (30) days of receipt of written notice of termination by the Company and the Dealer Manager to the Escrow Agent. In the event of the release of all Subscriber funds and all accrued interest in accordance with Section 4 of this Agreement, this Agreement shall terminate and the Escrow Agent shall be relieved of all responsibilities in connection with the Escrow Account, except claims which are occasioned by its gross negligence or willful misconduct.

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NORTHSTAR/RXR NEW YORK METRO REAL ESTATE, INC.
AMENDED AND RESTATED ESCROW AGREEMENT

14.        Governing Law; Jurisdiction. This Agreement shall be construed, performed, and enforced in accordance with, and governed by, the internal laws of the State of New York, without giving effect to the principles of conflicts of laws thereof. Each party hereby consents to the personal jurisdiction and venue of any court of competent jurisdiction in the State of New York.
15.    Severability. In the event that any part of this Agreement is declared by any court or other judicial or administrative body to be null, void or unenforceable, then such provision shall not impair the operation of or affect any other provision of this Agreement, and all of the other provisions of this Agreement shall remain in full force and effect.
16.    Amendments; Waivers. This Agreement may be amended or modified, and any of the terms, covenants, representations, warranties or conditions hereof may be waived, only by a written instrument executed by the parties hereto or, in the case of a waiver, by the party waiving compliance. Any waiver by any party of any condition, or of the breach of any provision, term, covenant, representation or warranty contained in this Agreement, in any one or more instances, shall not be deemed to be nor construed as further or continuing waiver of any such condition, or of the breach of any other provision, term, covenant, representation or warranty of this Agreement.
17.    Entire Agreement; Counterparts. This Agreement contains the entire understanding among the parties hereto with respect to the escrow contemplated hereby and supersedes and replaces all prior and contemporaneous agreements and understandings, oral or written, with regard to such escrow. This Agreement, and any amendments hereto, may be executed by the parties hereto in two or more counterparts, each of which shall be deemed an original.
18.    Section Headings. The section headings in this Agreement are for reference purposes only and shall not affect the meaning or interpretation of this Agreement.
19.    Disputes. In the event of a disagreement among any of the parties to this Agreement, or among them or any other person resulting in adverse claims and demands being made in connection with or from any property in the Escrow Account, the Escrow Agent shall be entitled to refuse to comply with any such claims or demands as long as such disagreement may continue, and in so refusing, shall make no delivery or other disposition of any property then held by it in the Escrow Account under this Agreement, and in so doing, the Escrow Agent shall be entitled to continue to refrain from acting until (i) the right of adverse claimants shall have been finally settled by binding arbitration or finally adjudicated in a court assuming and having jurisdiction of the property involved herein or affected hereby or (ii) all differences shall have been adjusted by agreement and the Escrow Agent shall have been notified in writing of such agreement signed by the parties hereto.
In the event of such dispute, the Escrow Agent shall be entitled, in its discretion and judgment, to tender into the registry or custody of any court of competent jurisdiction all money or property in its hands under this Agreement, together with such legal pleadings as the Escrow Agent deems appropriate, and thereupon be discharged from all further duties and liabilities under this Agreement. In the event of any uncertainty as to its duties hereunder, the Escrow Agent may refuse to act under the provisions of this Agreement pending order of a court of competent jurisdiction and the Escrow Agent shall have no liability to the Company, the Dealer Manager or to any other person as a result of such action. Any such legal action may be brought in such court as the Escrow Agent shall determine to have jurisdiction thereof. The filing of any such legal proceedings shall not deprive the Escrow Agent of its compensation earned prior to such filing. All costs, expenses and reasonable attorneys' fees the Escrow Agent incurs in connection with such proceeding shall be paid by the Company.
20.    Limited Purpose. The Company and the Dealer Manager hereby acknowledge that the Escrow Agent is serving as the escrow agent only for the limited purposes herein set forth, and hereby agree that they will not represent or imply that the Escrow Agent, by serving as the Escrow Agent hereunder or otherwise, has investigated the desirability or advisability of investment in the Company or have approved, endorsed or passed upon the merits of the Shares, nor shall they use its name in any manner whatsoever in connection with the offer or sale of the Shares other than by acknowledgment that the Escrow Agent has agreed to serve as the Escrow Agent for the limited purposes set forth herein.

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 NORTHSTAR/RXR NEW YORK METRO REAL ESTATE, INC.
AMENDED AND RESTATED ESCROW AGREEMENT

21.    Resignation. The Escrow Agent may resign upon thirty (30) days’ advance written notice to the Company and the Dealer Manager. Such resignation shall become effective on the date specified in such notice, which shall be not earlier than thirty (30) days after such written notice has been given. In the event of any such resignation, a successor escrow agent, which shall be a bank or trust company organized under the laws of the United States of America, shall be appointed by the mutual agreement of the Company and the Dealer Manager. Any such successor escrow agent shall deliver to the Company and the Dealer Manager a written instrument accepting such appointment, and thereupon shall succeed to all the rights and duties of the Escrow Agent hereunder and shall be entitled to receive the Collected Funds from the Escrow Agent. The Escrow Agent shall promptly pay the Subscription Payments in the Escrow Account, including interest thereon, to the successor escrow agent. If a successor escrow agent is not appointed by the Company or the Dealer Manager within the thirty (30) day period following such notice, the Escrow Agent may petition any court of competent jurisdiction to name a successor escrow agent. All costs, expenses and reasonable attorneys’ fees the Escrow Agent incurs in connection with such proceeding shall be paid by the Company.
22.    Removal. The Escrow Agent may be jointly removed by the Company and the Dealer Manager at any time, by written notice executed by both of them (which may be executed in counterparts) provided to the Escrow Agent, which instrument shall become effective on the date specified in such written notice. The removal of the Escrow Agent shall not deprive the Escrow Agent of its compensation earned prior to such removal. In the event of any such removal, a successor escrow agent, which shall be a bank or trust company organized under the laws of the United States of America, shall be appointed by the mutual agreement of the Company and the Dealer Manager. Any such successor escrow agent shall deliver to the Company and the Dealer Manager a written instrument accepting such appointment, and thereupon shall succeed to all the rights and duties of the Escrow Agent hereunder and shall be entitled to receive the Collected Funds from the Escrow Agent. The Escrow Agent shall promptly pay the Subscription Payments in the Escrow Account, including interest thereon, to the successor escrow agent. If a successor escrow agent is not appointed by the Company or the Dealer Manager within the thirty (30) day period following such notice, the Escrow Agent may petition any court of competent jurisdiction to name a successor escrow agent. All costs, expenses and reasonable attorneys' fees the Escrow Agent incurs in connection with such proceeding shall be paid by the Company.
23.    Maintenance of Records. The Escrow Agent shall maintain accurate records of all transactions hereunder.  Promptly after the termination of this Agreement, and as may from time to time be reasonably requested by the Company before such termination, the Escrow Agent shall provide the Company with a copy of such records, certified by the Escrow Agent to be a complete and accurate account of all transactions hereunder. The authorized representatives of the Company and the Dealer Manager shall also have access to the Escrow Agent’s books and records to the extent relating to its duties hereunder, during normal business hours upon reasonable notice to the Escrow Agent, and at the requesting party’s expense.
24.    Force Majeure. No party to this Agreement shall be liable to any other party for losses arising out of, or the inability to perform its obligations under the terms of this Agreement, due to acts of God, which shall include, but shall not be limited to, fire, floods, strikes, mechanical failure, war, riot, nuclear accident, earthquake, terrorist attack, computer piracy, cyber-terrorism or other acts beyond the control of the parties hereto.
25.    Representatives. The applicable persons designated on Exhibit C hereto have been duly appointed to act as its representatives hereunder and have full power and authority to execute and deliver any written directions, to amend, modify or waive any provision of this Agreement and to take any and all other actions on behalf of the Company or the Dealer Manager, as applicable, under this Agreement, all without further consent or direction from, or notice to, it or any other party.
26.    USA PATRIOT Act. The Company and the Dealer Manager acknowledge that a portion of the identifying information set forth on Exhibit C is being requested by the Escrow Agent in connection with the USA Patriot Act, Pub. L. 107-56 (the “Act”), and the Company and the Dealer Manager agree to provide any additional information requested by the Escrow Agent in connection with the Act or any similar legislation or regulation to which Escrow Agent is subject, in a timely manner.

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NORTHSTAR/RXR NEW YORK METRO REAL ESTATE, INC.
AMENDED AND RESTATED ESCROW AGREEMENT

27.    Illegal Activities. The Escrow Agent shall have the rights in its sole discretion to not accept appointment as escrow agent and reject funds and collateral from any party in the event that Escrow Agent has reason to believe that such funds or collateral violate applicable banking practices or applicable laws or regulations, including but not limited to the Patriot Act. In the event of suspicious or illegal activity and pursuant to all applicable laws, regulations and practices, the other parties to this Agreement will assist Escrow Agent and comply with any reviews, investigations and examinations directed against the deposited funds.
[Remainder of page intentionally left blank]

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 NORTHSTAR/RXR NEW YORK METRO REAL ESTATE, INC.
AMENDED AND RESTATED ESCROW AGREEMENT

IN WITNESS WHEREOF, the parties hereto have caused this Escrow Agreement to be executed the day and year first set forth above.
	
		
	NORTHSTAR/RXR NEW YORK METRO REAL ESTATE, INC., the Company

	By:
	/s/ Ronald J. Lieberman

	Name:
	Ronald J. Lieberman

	Title:
	Executive Vice President, General Counsel and Secretary

	
		
	NORTHSTAR SECURITIES, LLC, as Dealer Manager

	By:
	/s/ W. Timothy Toole

	Name:
	W. Timothy Toole

	Title:
	President

	
		
	UMB BANK, N.A., as Escrow Agent

	By:
	/s/ Lara L. Stevens

	Name:
	Lara L. Stevens

	Title:
	Vice President

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NORTHSTAR/RXR NEW YORK METRO REAL ESTATE, INC.
AMENDED AND RESTATED ESCROW AGREEMENT

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