Document:

Exhibit 10.45

 

Execution
Version

 

OMNIBUS AMENDMENT
AND REAFFIRMATION

 

OMNIBUS
AMENDMENT AND REAFFIRMATION (this “Agreement”) dated as of July 25, 2016 among GLOBAL NET LEASE OPERATING
PARTNERSHIP, L.P. (formerly known as American Realty Capital Global Operating Partnership, L.P.), a Delaware limited partnership
(“Borrower”), GLOBAL NET LEASE, INC. (formerly known as American
Realty Capital Global Trust, Inc.), a Maryland corporation (“Parent”),
ARC GLOBAL HOLDCO, LLC, a Delaware limited liability company (“International Holdco”), the SUBSIDIARY GUARANTORS
party hereto (the “Subsidiary Guarantors”; Parent, International Holdco and each of the Subsidiary Guarantors,
individually, a “Guarantor Party” and, collectively, the “Guarantor Parties”; Borrower and
each Guarantor Party, collectively, the “Reaffirming Parties” and individually, a “Reaffirming Party”),
in favor of the LENDERS (defined below), and JPMORGAN CHASE BANK, N.A., as administrative agent for the Lenders (together with
its successors and assigns in such capacity, the “Administrative Agent”).

 

RECITALS:

 

A.          Borrower, the Administrative
Agent and certain lenders (together with their respective successors and assigns, the “Lenders”) are parties
to that certain Credit Agreement dated as of July 25, 2013, as amended by that certain First Amendment to Credit Agreement dated
as of November 22, 2013, that certain letter agreement regarding updated schedules dated as of November 22, 2013, that certain
letter agreement regarding updated schedules dated as of December 20, 2013, that certain letter agreement regarding updated schedules
dated as of January 15, 2014, that certain Omnibus Amendment to Loan Documents dated as of March 26, 2014, that certain letter
agreement regarding updated schedules dated as of April 17, 2014, that certain Third Amendment to Credit Agreement dated as of
June 24, 2014, that certain letter agreement regarding updated schedules dated as of June 24, 2014, that certain Fourth Amendment
to Credit Agreement dated as of July 29, 2014, that certain letter agreement regarding updated schedules dated as of July 30, 2014,
that certain letter agreement regarding updated schedules dated as of August 25, 2014, that certain Fifth Amendment to Credit Agreement
dated as of October 16, 2014, that certain letter agreement regarding updated schedules dated as of October 22, 2014, that certain
letter agreement regarding updated schedules dated as of November 28, 2014, that certain letter agreement regarding updated schedules
dated as of December 12, 2014, that certain Sixth Amendment to Credit Agreement dated as of December 16, 2014, that certain letter
agreement regarding updated schedules dated as of January 16, 2015, that certain letter agreement regarding updated schedules dated
as of March 19, 2015, that certain letter agreement regarding updated schedules dated as of April 10, 2015, that certain Seventh
Amendment to Credit Agreement dated as of June 1, 2015, that certain Eighth Amendment to Credit Agreement dated as of August 24,
2015, and that certain letter agreement regarding updated schedules dated as of November 5, 2015 (as so amended and as may be further
amended, modified or supplemented and in effect from time to time, the “Credit Agreement”; and except as otherwise
herein expressly provided, each initially capitalized term used herein has the meaning assigned to such term in the Credit Agreement).

 

B.          The Guarantor Parties
are party to that certain Guaranty in favor of the Administrative Agent on behalf of the Lenders and the Issuing Bank dated as
of July 25, 2013 (as the same may have been or may hereafter be amended, modified or supplemented and in effect from time to time,
the “Guaranty”; the Credit Agreement, the Guaranty and the other Loan Documents, collectively, the “Reaffirmed
Documents”).

 

C.          Pursuant to Section
2.09(d)(i) of the Credit Agreement, Borrower has elected to extend the Initial Maturity Date to the First Extended Maturity Date.

 

D.          As a condition
to the Administrative Agent and the Lenders so extending the Initial Maturity Date, the Administrative Agent and the Lenders require
that the Reaffirming Parties reaffirm, ratify and confirm their respective obligations under the Reaffirmed Documents.

 

E.          To induce the Administrative
Agent and the Lenders to extend the Initial Maturity Date, the applicable Reaffirming Parties desire to reaffirm, ratify and confirm
their respective obligations under the Reaffirmed Documents.

 

     

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NOW, THEREFORE, for good
and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows:

 

Section 1.             Effective
Date. The “Effective Date” shall be the date on which all of the following have been satisfied:

 

(a)          the Administrative
Agent shall have received the Borrower’s, Parent’s, International Holdco’s and the Subsidiary Guarantors’
signed counterparts of this Agreement; and

 

(b)          the Administrative
Agent shall have been paid all reasonable out-of-pocket expenses, including reasonable legal fees for the Administrative Agent’s
outside counsel, due to it pursuant to the transaction contemplated herein and all reasonable outstanding out-of-pocket fees and
expenses, if any, that have been invoiced to Borrower to date.

 

Section 2.             Reaffirming
Parties’ Representations. Each Reaffirming Party, as to itself, hereby represents and warrants to the Administrative
Agent and the Lenders, as follows:

 

(a)          each of the representations
and warranties of such Reaffirming Party contained or incorporated in the Reaffirmed Documents is true and correct in all material
respects on and as of the date hereof (except if any such representation or warranty is expressly stated to have been made as of
a specific date, then as of such specific date);

 

(b)          as of the date
hereof and immediately after giving effect to this Agreement, no Default and no Event of Default has occurred and is continuing;

 

(c)          as of the date
hereof and immediately after giving effect to this Agreement, such Reaffirming Party is in compliance with its obligations under
the Reaffirmed Documents to which it is a party;

 

(d)          Borrower has all
necessary corporate or limited liability company, as applicable, power and authority to execute, deliver and perform its obligations
under this Agreement; Borrower has been duly authorized by all necessary corporate or limited liability company, as applicable,
action on its part; and this Agreement has been duly and validly executed and delivered by Borrower;

 

(e)          such Guarantor
Party has all necessary corporate or limited liability company, as applicable, power and authority to execute, deliver and perform
its obligations under this Agreement; such Guarantor Party has been duly authorized by all necessary corporate or limited liability
company, as applicable, action on its part; and this Agreement has been duly and validly executed and delivered by such Guarantor
Party;

 

(f)          this Agreement
constitutes such Reaffirming Party’s legal, valid and binding obligation, enforceable in accordance with its terms, except
as such enforceability may be limited by (i) bankruptcy, insolvency, reorganization, moratorium or similar laws of general
applicability affecting the enforcement of creditors’ rights and (ii) the application of general principles of equity
(regardless of whether such enforceability is considered in a proceeding in equity or at law); and

 

(g)          such Reaffirming
Party’s execution and delivery of this Agreement (i) does not require any consent or approval of, registration or filing
with, or any other action by, any governmental authority, except for such as have been obtained or made and are in full force and
effect, (ii) will not violate any applicable law or regulation or the charter, by-laws or other organizational documents of
such Reaffirming Party or any order of any governmental authority and (iii) will not violate or result in a default under
any indenture, agreement or other instrument binding upon such Reaffirming Party or any of its assets.

 

Section 3.             Reaffirmation.
Each Reaffirming Party hereby (i) reaffirms, ratifies, confirms, and acknowledges its respective obligations under the Reaffirmed
Documents to which it is a party and agrees to continue to be bound thereby and perform thereunder and (ii) agrees and acknowledges
that the Reaffirmed Documents to which it is a party and all of its obligations thereunder are and remain in full force and effect
and have not been affected, modified or amended.

 

     

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Section 4.             Miscellaneous.

 

(a)          GOVERNING
LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

 

(b)          Amendments,
Etc. The terms of this Agreement may be waived, modified and amended only by an instrument in writing duly executed by the
party hereto against whom enforcement of such waiver, modification or amendment is sought (provided that, subject to the terms
of the Credit Agreement, the Administrative Agent may execute any such waiver, modification or amendment on behalf of the Lenders).
Any such waiver, modification or amendment shall be binding upon each Reaffirming Party.

 

(c)          Successors
and Assigns. This Agreement shall be binding upon and inure to the benefit of the respective successors and assigns of each
Reaffirming Party, the Administrative Agent and the Lenders.

 

(d)          Captions.
The captions and section headings appearing herein are included solely for convenience of reference and are not intended to affect
the interpretation of any provision of this Agreement.

 

(e)          Counterparts.
This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument
and any of the parties hereto may execute this Agreement by signing any such counterpart. Delivery of an executed counterpart of
this Agreement by facsimile or email transmission shall be effective as manual delivery of an executed counterpart hereof.

 

(f)          Severability.
Any provision hereof which is held to be invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction,
be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability
of the remaining provisions hereof, and the invalidity of a particular provision in a particular jurisdiction shall not invalidate
such provision in any other jurisdiction.

 

(g)          Loan Document.
This Agreement is a Loan Document (as defined in the Credit Agreement), subject to the terms and conditions applicable to Loan
Documents set forth in the Credit Agreement.

 

 

[remainder of page intentionally left blank]

 

     

     

    

 

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

 

BORROWER:

 

GLOBAL NET LEASE OPERATING PARTNERSHIP, L.P. (formerly
known as American Realty Capital Global Operating Partnership, L.P.), a Delaware limited partnership

 

By: Global Net Lease, Inc. (formerly known as American
Realty Capital Global Trust, Inc.), a Maryland corporation, its general partner

 

 

 

By: /s/ Timothy Salvemini

Name: Timothy Salvemini

Title: Chief Financial Officer, Treasurer and Secretary

 

 

PARENT:

 

Global Net Lease, Inc. (formerly known as American Realty
Capital Global Trust, Inc.), a Maryland corporation

 

 

 

By: /s/ Timothy Salvemini

Name: Timothy Salvemini

Title: Chief Financial Officer, Treasurer and Secretary

 

INTERNATIONAL HOLDCO:

 

ARC GLOBAL HOLDCO, LLC, a Delaware limited liability
company

 

By: Global Net Lease Operating Partnership, L.P. (formerly
known as American Realty Capital Global Operating Partnership, L.P.), a Delaware limited partnership, its sole member

 

By: Global Net Lease, Inc. (formerly known as American
Realty Capital Global Trust, Inc.), a Maryland corporation, its general partner

 

 

By: /s/ Timothy Salvemini

Name: Timothy Salvemini

Title: Chief Financial Officer, Treasurer and Secretary

 

 

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SUBSIDIARY GUARANTORS:

 

ARC KSFTWPA001, LLC, a Delaware
limited liability company

ARC PPHHTKY001, LLC, a Delaware
limited liability company

ARC CWARANE001, LLC, a Delaware
limited liability company

ARC CWGRDMI001, LLC, a Delaware
limited liability company

ARC CWRVTIL001, LLC, a Delaware
limited liability company

ARC CWSALKS001, LLC, a Delaware
limited liability company

ARC CWUVLOH001, LLC, a Delaware
limited liability company

ARC CWVININ001, LLC, a Delaware
limited liability company

ARC CWWPKMN001, LLC, a Delaware
limited liability company

ARC WWHWCMI001, LLC, a Delaware
limited liability company

ARC GEGRDMI001, LLC, a Delaware
limited liability company

ARC GSFRNTN001,
LLC, a Delaware limited liability company

ARC TFDPTIA001,
LLC, a Delaware limited liability company

ARC NOWILND001, LLC, a Delaware
limited liability company

ARC GSDVRDE001,
LLC, a Delaware limited liability company

ARC GSGTNPA001,
LLC, a Delaware limited liability company

ARC GSMSSTX001,
LLC, a Delaware limited liability company

ARC GSDALTX001, LLC, a Delaware
limited liability company

ARC GSIFLMN001,
LLC, a Delaware limited liability company

ARC NOPLNTX001,
LLC, a Delaware limited liability company

ARC NNMFBTN001, LLC, a Delaware
limited liability company

ARC DRINDIN001, LLC, a Delaware
limited liability company

ARC VALWDCO001,
LLC, a Delaware limited liability company

ARC LPSBDIN001,
LLC, a Delaware limited liability company

ARC GBLMESA001, LLC, a Delaware
limited liability company

ARC NSSNJCA001, LLC, a Delaware
limited liability company

ARC FEAMOTX001,
LLC, a Delaware limited liability company

ARC FECPEMA001,
LLC, a Delaware limited liability company

ARC FESANTX001, LLC, a Delaware
limited liability company

ARC SZPTNNJ001, LLC, a Delaware
limited liability company

ARC WNBRNMO001,
LLC, a Delaware limited liability company

ARC VCLIVMI001,
LLC, a Delaware limited liability company

ARC PNEREPA001, LLC, a Delaware
limited liability company

ARC PNSCRPA001,
LLC, a Delaware limited liability company

ARC CTFTMSC001,
LLC, a Delaware limited liability company

ARC TFKMZMI001,
LLC, a Delaware limited liability company

ARC SWWSVOH001,
LLC, a Delaware limited liability company

ARC MKMDNNJ001,
LLC, a Delaware limited liability company

ARC FD73SLB001,
LLC, a Delaware limited liability company

 

		By:	Global Net Lease Operating Partnership, L.P. (formerly known as American Realty Capital Global Operating Partnership, L.P.),
a Delaware limited partnership, its sole member

 

		By:	Global Net Lease, Inc. (formerly known as American Realty Capital Global Trust, Inc.),
a Maryland corporation, its general partner

 

By: /s/ Timothy Salvemini

Name: Timothy Salvemini

Title: Chief Financial Officer, Treasurer and Secretary

 

 

 

[signatures continue on following
pages]

 

     

     

    

 

ARC GRRALNC001,
LLC, a Delaware limited liability company

ARC GRMSAAZ001,
LLC, a Delaware limited liability company

ARC GRLBKTX001,
LLC, a Delaware limited liability company

ARC GRLOUKY001,
LLC, a Delaware limited liability company

ARC WMWSLNC001,
LLC, a Delaware limited liability company

ARC SANPLFL001,
LLC, a Delaware limited liability company

ARC DG40PCK001,
LLC, a Delaware limited liability company

ARC FEWTRNY001,
LLC, a Delaware limited liability company

ARC FEBHMNY001,
LLC, a Delaware limited liability company

ARC FEWNAMN001,
LLC, a Delaware limited liability company

ARC FSMCHIL001,
LLC, a Delaware limited liability company

ARC AMWCHKS001,
LLC, a Delaware limited liability company

ARC FEBILMA001,
LLC, a Delaware limited liability company

ARC DINCNOH001,
LLC, a Delaware limited liability company

ARC WIODSTX001,
LLC, a Delaware limited liability company

ARC CJHSNTX002,
LLC, a Delaware limited liability company

ARC FESALUT001,
LLC, a Delaware limited liability company

ARC MPSTLMO001,
LLC, a Delaware limited liability company

ARC KUSTHMI001,
LLC, a Delaware limited liability company

ARC FELEXKY001,
LLC, a Delaware limited liability company

ARC GECINOH001,
LLC, a Delaware limited liability company

ARC DNDUBOH001,
LLC, a Delaware limited liability company

ARC FELKCLA001,
LLC, a Delaware limited liability company

ARC FD34PCK001,
LLC, a Delaware limited liability company

ARC SPHRSNJ001
Urban Renewal Entity, LLC, a NJ limited liability company

ARC CJHSNTX001,
LLC, a Delaware limited liability company

ARC OGHDGMD001,
LLC, a Delaware limited liability company

ARC CGJNSMI001,
LLC, a Delaware limited liability company

ARC CGFRSMI001,
LLC, a Delaware limited liability company

ARC CGWRNMI001,
LLC, a Delaware limited liability company

ARC CSVBTMI001,
LLC, a Delaware limited liability company

ARC FEPIESD001,
LLC, a Delaware limited liability company

ARC FMSUMSC001,
LLC, a Delaware limited liability company

ARC GSFFDME001,
LLC, a Delaware limited liability company

ARC GSRNGME001,
LLC, a Delaware limited liability company

ARC GSRPCSD001,
LLC, a Delaware limited liability company

 

		By:	Global Net Lease Operating Partnership, L.P. (formerly known as American Realty Capital Global Operating Partnership, L.P.),
a Delaware limited partnership, its sole member

 

		By:	Global Net Lease, Inc. (formerly known as American Realty Capital Global Trust, Inc.),
a Maryland corporation, its general partner

 

 

By: /s/ Timothy Salvemini

Name: Timothy Salvemini

Title: Chief Financial Officer, Treasurer and Secretary

 

 

[signatures continue on following pages]

 

     

     

    

 

ARC TRLIVMI001,
LLC, a Delaware limited liability company

ARC FEHBRKY001,
LLC, a Delaware limited liability company

ARC FMHEPGA001,
LLC, a Delaware limited liability company

ARC CGMARSC001,
LLC, a Delaware limited liability company

ARC CGLGNIN001,
LLC, a Delaware limited liability company

ARC CGMADIN001,
LLC, a Delaware limited liability company

ARC MSELGIL001,
LLC, a Delaware limited liability company

ARC JTCHATN001,
LLC, a Delaware limited liability company

ARC JTCHATN002,
LLC, a Delaware limited liability company

ARC BHSBDIN001,
LLC, a Delaware limited liability company

ARC HLHSNTX001,
LLC, a Delaware limited liability company

ARC FEMANMN001,
LLC, a Delaware limited liability company

 

		By:	Global Net Lease Operating Partnership, L.P. (formerly known as American Realty Capital Global Operating Partnership, L.P.),
a Delaware limited partnership, its sole member

 

		By:	Global Net Lease, Inc. (formerly known as American Realty Capital Global Trust, Inc.),
a Maryland corporation, its general partner

 

 

By: /s/ Timothy Salvemini

Name: Timothy Salvemini

Title: Chief Financial Officer, Treasurer and Secretary

 

[end of
signatures]Exhibit 10.46

 

FORM OF RESTRICTED STOCK UNIT AWARD AGREEMENT

 

PURSUANT TO THE

 

EMPLOYEE AND DIRECTOR

 

INCENTIVE RESTRICTED SHARE PLAN OF 

 

GLOBAL NET LEASE, INC.

 

THIS AGREEMENT (this
“Agreement”) is made as of [ ] (the “Grant Date”), by and between Global Net Lease, Inc.,
a Maryland corporation with its principal office at 405 Park Avenue, New York, New York 10022 (the “Company”),
and [ ] (the “Participant”).

 

WHEREAS, the Board of
Directors of the Company (the “Board”) adopted the Employee and Director Incentive Restricted Share Plan of
Global Net Lease, Inc. (as amended and as may be further amended from time to time, the “Plan”);

 

WHEREAS, the Plan provides
that the Company, through the Board, has the ability to grant awards of restricted stock units (“RSUs”) to directors,
officers, employees of the Company and of certain entities that provide services to the Company, and to certain consultants or
entities that provide services to the Company;

 

WHEREAS, the independent
directors of the Board authorized, and the Company awarded, RSUs to non-executive directors and independent directors of the Company
in respect of [ ] director compensation, as previously approved by the Board on April 8, 2015;

 

WHEREAS, subject to the
terms and conditions of this Agreement and the Plan, the Board has determined that Participant, in respect of his or her [ ] director
compensation, shall be awarded RSUs in the amount set forth below.

 

NOW, THEREFORE, the Company and the Participant
agree as follows:

 

1.            Grant of RSUs. Subject
to the terms, conditions and restrictions of the Plan and this Agreement, the Company hereby awards to the Participant [ ] RSUs
(the “Award”).

 

2.            Vesting.
Subject to the terms of the Plan and this Agreement, the Award shall vest as follows:

 

(a)            the Award shall
vest (i) one third (1/3) on the first anniversary of [ ] (the “Vesting Date”), (ii) one third (1/3) on the second
anniversary of the Vesting Date, and (iii) one third (1/3) on the third anniversary of the Vesting Date; provided, in each case,
that the Participant has not incurred a termination of his or her position as a director prior to such date.

 

(b)            One hundred percent
(100%) of any unvested portion of the Award shall automatically vest upon the occurrence of an Acceleration Event (as defined below).
For purposes of this Agreement, an “Acceleration Event” shall mean the first to occur of any of the following:
(i) a Change in Control (as defined below); or (ii) the Participant incurs a termination of his or her position as a director of
the Company that is a Without Cause Termination (as such term is defined below); provided, that, in the case of the Acceleration
Events described in clause (i) above, the Participant has not occurred the termination described in clause (ii) above.

 

     

     

    

 

(c)            (i) As a result
of the Participant’s voluntary resignation or (ii) if the Participant is terminated as a director as a result of a failure
to be re-elected to the Board following his or her nomination by the Board for re-election, any unvested portion of the Award that
is due to vest in the calendar year in which the Participant voluntarily resigns or fails to be re-elected to the Board, as applicable,
shall automatically vest on the date of the Participant’s voluntary termination as a director or the date of such election,
as applicable. Any unvested portion of the Award due to vest in calendar years subsequent to the year in which the Participant
voluntarily resigns or fails to be re-elected to the Board, as applicable, shall be forfeited in accordance with Section 3
below.

 

(d)            For purposes
of this Agreement, “Change in Control” means: (i) any “person” as such term is used in Sections
13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (other than the Company,
any trustee or other fiduciary holding securities under any employee benefit plan of the Company or any corporation owned, directly
or indirectly, by the stockholders of the Company in substantially the same proportion as their ownership of stock of the Company),
is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of
securities of the Company representing 50.1% or more of the combined voting power of the Company’s then outstanding voting
securities; (ii) the stockholders of the Company approve a merger or consolidation of the Company with any other entity or approve
the issuance of voting securities in connection with a merger or consolidation of the Company (or any direct or indirect subsidiary
thereof) pursuant to applicable exchange requirements, other than (A) a merger or consolidation which would result in the voting
securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by
being converted into voting securities of the surviving or parent entity) at least 50.1% of the combined voting power of the voting
securities of the Company or such surviving or parent entity outstanding immediately after such merger or consolidation or (B)
a merger or consolidation effected to implement a recapitalization of the Company (or similar transaction) in which no “person”
(as defined above) is or becomes the beneficial owner, directly or indirectly, of securities of the Company representing 50% or
more of either of the then outstanding shares of Common Stock or the combined voting power of the Company’s then outstanding
voting securities; or (iii) the consummation of the sale or disposition by the Company of all or substantially all of the Company’s
assets (or any transaction or series of transactions within a period of twelve (12) months ending on the date of the last sale
or disposition having a similar effect). Notwithstanding the foregoing, a transaction shall not be deemed to be a Change in Control
unless such transaction constitutes a “change in control event” within the meaning of Section 409A of the Internal
Revenue Code of 1986, as amended (the “Code”).

 

(e)            For purposes
of this Agreement, (i) a “Without Cause Termination” shall mean a termination of the Participant’s directorship
other than for Cause (as defined below) or as a result of the Participant’s death or disability; and (ii) “Cause”
shall mean (x) the Participant’s willful misconduct or gross negligence in the performance of his or her duties as a director
of the Company that is not cured by the Participant within thirty (30) days after his or her receipt of written notice from the
Company or an affiliate thereof (as applicable) or (y) the Participant’s conviction of, or plea of guilty or nolo contendere
to, a crime relating to the Company or any affiliate thereof or any felony.

 

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(f)            There shall be
no proportionate or partial vesting in the periods prior to the applicable vesting dates.

 

3.            Forfeiture.
If a Participant incurs a termination of his or her directorship for any reason other than a Without Cause Termination, the Participant
shall automatically forfeit any unvested portion of the Award.

 

4.            Payment.
Subject to the terms of this Agreement and the Plan, the Participant shall receive one share of Common Stock with respect to each
vested RSU subject to the Award within thirty (30) days of the Vesting Date. Notwithstanding the forgoing, a Termination will not
be deemed to have occurred for purposes of a payment due under the Award upon a termination of the participant’s service
unless such termination is also a “separation from service” within the meaning of Section 409A of the Code.

 

5.            Dividend
Equivalent Amounts. Dividends shall be credited to an RSU dividend book entry account on behalf of the Participant with
respect to each RSU held by the Participant, provided that the right of the Participant to be entitled to and actually receive
such dividend shall be subject to the same restrictions as the RSU to which the dividend relates and shall be paid to the Participant
at the same time the Participant receives the payment of the shares of Common Stock under the RSU in accordance with Section 4.
Unless otherwise determined by the Board, cash dividends shall not be reinvested in Common Stock and shall remain uninvested and
without interest.

 

6.            No Rights
as a Holder of Shares. The Participant shall have no rights as a stockholder with respect to any shares of Common Stock
covered by the Award unless and until the Participant has become the holder of record of such shares, and no adjustments shall
be made for dividends (whether in cash, in kind or other property), distributions or other rights in respect of any such shares,
except as otherwise specifically provided for in the Plan or this Agreement.

 

7.            Taxes.
The Participant acknowledges that the Participant shall be solely responsible for all applicable Federal, state, local or other
taxes with respect to any Common Stock delivered to the Participant under this Agreement. Notwithstanding the foregoing, if at
any time the Company is required by law to withhold any such taxes, then (i) no later than the date on which any RSUs shall have
become vested, the Participant shall pay to the Company, or make arrangements satisfactory to the Company regarding payment of,
any Federal, state or local or other taxes of any kind required by law to be withheld with respect to any RSUs which shall have
become so vested; (ii) the Company shall, to the extent permitted by law, have the right to deduct from any payment of any kind
otherwise due to the Participant any Federal, state or local or other taxes of any kind required by law to be withheld with respect
to any RSUs which shall have become so vested, including that the Company may, but shall not be required to, sell a number of shares
of Common Stock otherwise payable under this Agreement sufficient to cover applicable withholding taxes; and (iii) in the event
that the Participant does not satisfy (i) above on a timely basis, the Company may, but shall not be required to, pay such required
withholding and, to the extent permitted by Applicable Law, treat such amount as a demand loan to the Participant at the maximum
rate permitted by law, with such loan, at the Company’s sole discretion and provided the Company so notifies the Participant
within thirty (30) days of the making of the loan, secured by shares of Common Stock payable under this Agreement and any failure
by the Participant to pay the loan upon demand shall entitle the Company to all of the rights at law of a creditor secured by such
shares of Common Stock. The Company may hold as security any certificates representing any shares of Common Stock payable under
this Agreement and, upon demand of the Company, the Participant shall deliver to the Company any certificates in his or her possession
representing shares of Common Stock paid or payable under this Agreement together with a stock power duly endorsed in blank.

 

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8.            No Obligation
to Continue Directorship. Neither the execution of this Agreement nor the award of the RSUs hereunder constitute an agreement
by the Company to continue to engage the Participant as a director during the entire, or any portion of, the term of this Agreement,
including but not limited to any period during which any RSUs are outstanding.

 

9.            Section
409A. The Award is intended to be exempt from the applicable requirements of Section 409A of the Code and shall be limited,
construed and interpreted in accordance with such intent; provided, that the Company does not guarantee to the Participant
any particular tax treatment of the Award. The Company shall not be liable to the Participant for any additional tax, interest
or penalties that may be imposed on the Participant by Section 409A of the Code or any damages for failing to comply with Section
409A of the Code.

 

10.            Miscellaneous.

 

(a)            This Agreement
shall inure to the benefit of and be binding upon the parties hereto and their respective heirs, personal legal representatives,
successors, trustees, administrators, distributees, devisees and legatees. The Company may assign to, and require, any successor
(whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or
assets of the Company to expressly assume and agree in writing to perform this Agreement. Notwithstanding the foregoing, the Participant
may not assign this Agreement or any of the Participant’s rights, interests or obligations hereunder. 

 

(b)            This award of
RSUs shall not affect in any way the right or power of the Board or stockholders of the Company to make or authorize an adjustment,
recapitalization or other change in the capital structure or the business of the Company, any merger or consolidation of the Company
or subsidiaries, any issue of bonds, debentures, preferred or prior preference stock ahead of or affecting the RSUs, the dissolution
or liquidation of the Company, any sale or transfer of all or part of its assets or business or any other corporate act or proceeding.

 

(c)            The Participant
agrees that the award of the RSUs hereunder is special incentive compensation and that it, any dividends paid thereon (even if
treated as compensation for tax purposes) will not be taken into account as “salary” or “compensation”
or “bonus” in determining the amount of any payment under any pension, retirement or profit-sharing plan of the Company
or any life insurance, disability or other benefit plan of the Company.

 

    4 

     

    

 

(d)            No modification
or waiver of any of the provisions of this Agreement shall be effective unless in writing and signed by the party against whom
it is sought to be enforced.

 

(e)            This Agreement
may be executed in one or more counterparts, all of which taken together shall constitute one contract.

 

(f)            The failure of
any party hereto at any time to require performance by another party of any provision of this Agreement shall not affect the right
of such party to require performance of that provision, and any waiver by any party of any breach of any provision of this Agreement
shall not be construed as a waiver of any continuing or succeeding breach of such provision, a waiver of the provision itself,
or a waiver of any right under this Agreement.

 

(g)            The headings
of the sections of this Agreement have been inserted for convenience of reference only and shall in no way restrict or modify any
of the terms or provisions hereof.

 

(h)            All notices,
consents, requests, approvals, instructions and other communications provided for herein shall be in writing and validly given
or made when delivered, or on the second succeeding business day after being mailed by registered or certified mail, whichever
is earlier, to the persons entitled or required to receive the same, at the addresses set forth at the heading of this Agreement
or to such other address as either party may designate by like notice. Notices to the Company shall be addressed to Global Net
Lease, Inc. at 405 Park Avenue, New York, New York 10022, Attn: Chief Financial Officer.

 

(i)            This Agreement
shall be construed, interpreted and governed and the legal relationships of the parties determined in accordance with the internal
laws of the State of Maryland without reference to rules relating to conflicts of law.

 

11.            Provisions
of Plan Control. This Agreement is subject to all the terms, conditions and provisions of the Plan, including, without
limitation, the amendment provisions thereof, and to such rules, regulations and interpretations relating to the Plan as may be
adopted thereunder and as may be in effect from time to time. The Plan is incorporated herein by reference. A copy of the Plan
has been delivered to the Participant. If and to the extent that this Agreement conflicts or is inconsistent with the terms, conditions
and provisions of the Plan, the Plan shall control, and this Agreement shall be deemed to be modified accordingly. Unless otherwise
indicated, any capitalized term used but not defined herein shall have the meaning ascribed to such term in the Plan. This Agreement
contains the entire understanding of the parties with respect to the subject matter hereof (other than any other documents expressly
contemplated herein or in the Plan) and supersedes any prior agreements between the Company and the Participant.

 

[signature page(s) follow]

 

    5 

     

    

 

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

 

	 	 	GLOBAL NET LEASE, INC.	 
	 	 	 	 	 
	 	 	 	 	 
	   	 	By:	   	 
	   	 	Name:	   	 
	   	 	Title:	   	 
	 	 	 	 	 
	 	 	 	 	 
	Participant	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	(Signature)	 	 	 	 

 

    6

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