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EQUITY FINANCING AGREEMENT

 

This EQUITY FINANCING AGREEMENT (the “Agreement”), dated as of April 4, 2018 (the “Execution Date”), is entered into by and between Applife Digital Solutions, Inc., a Nevada corporation with its principal executive office at 338 N. Market St., #161, San Jose, CA 95110 (the “Company”),and GHS Investments LLC, a Nevada limited liability company, with offices at 420 Jericho Turnpike, Suite 207, Jericho, NY 11753. (the “Investor”).

March __,

April 4th

 

RECITALS:

 

WHEREAS, the parties desire that, upon the terms and subject to the conditions contained herein, the Investor shall invest up to Five Million Dollars ($5,000,000) (the "Commitment Amount"), through the purchase of shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”) from time to time over the course of twenty-four (24) months following an effective registration of the underlying shares (the “Contract Period”);

 

WHEREAS, such investments will be made in reliance upon the exemption from securities registration afforded by Section 4(a)(2) of the Securities Act of 1933, as amended (the “1933 Act”), Rule 506 of Regulation D promulgated by the SEC under the 1933 Act, and/or upon such other exemption from the registration requirements of the 1933 Act as may be available with respect to any or all of the investments in Common Stock to be made hereunder; and

 

WHEREAS, contemporaneously with the execution and delivery of this Agreement, the parties hereto are executing and delivering a Registration Rights Agreement substantially in the form attached hereto as Exhibit A (the “Registration Rights Agreement”) pursuant to which the Company has agreed to provide certain registration rights under the 1933 Act, and the rules and regulations promulgated thereunder, and applicable state securities laws.

 

NOW THEREFORE, in consideration of the foregoing recitals, which shall be considered an integral part of this Agreement, the covenants and agreements set forth hereafter, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Company and the Investor hereby agree as follows:

 

SECTION I. DEFINITIONS

 

For all purposes of and under this Agreement, the following terms shall have the respective meanings below, and such meanings shall be equally applicable to the singular and plural forms of such defined terms.

 

“1933 Act” shall have the meaning set forth in the recitals.

 

“1934 Act” shall mean the Securities Exchange Act of 1934, as amended, or any similar federal statute, and the rules and regulations of the SEC thereunder, all as the same will then be in effect.

 

“Affiliate” shall have the meaning set forth in Section 5.7.

 

“Agreement” shall have the meaning set forth in the preamble.

 

“Articles of Incorporation” shall have the meaning set forth in Section 4.3.

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“By-laws” shall have the meaning set forth in Section 4.3.

 

“Closing” shall have the meaning set forth in Section 2.4.

 

“Commitment Note” shall have the meaning set forth in Section 2.7.

 

“Closing Date” shall have the meaning set forth in Section 2.4.

 

“Common Stock” shall have the meaning set forth in the recitals. “Control” or “Controls” shall have the meaning set forth in Section 5.7.

“Effective Date” shall mean the date the SEC declares effective under the 1933 Act the Registration Statement covering the Securities.

 

“Environmental Laws” shall have the meaning set forth in Section 4.13.

 

“Execution Date” shall have the meaning set forth in the preamble. “Indemnified Liabilities” shall have the meaning set forth in Section 10.

“Indemnitees” shall have the meaning set forth in Section 10.

 

“Indemnitor” shall have the meaning set forth in Section 10.

 

“Ineffective Period” shall mean any period of time that the Registration Statement or any supplemental registration statement becomes ineffective or unavailable for use for the sale or resale, as applicable, of any or all of the Registrable Securities (as defined in the Registration Rights Agreement) for any reason (or in the event the prospectus under either of the above is not current and deliverable) during any time period required under the Registration Rights Agreement.

 

“Investor” shall have the meaning set forth in the preamble.

 

“Market Price” shall mean the lowest traded price of the Company's Common Stock during the Pricing Period.

 

“Material Adverse Effect” shall have the meaning set forth in Section 4.1.

 

“Maximum Common Stock Issuance” shall have the meaning set forth in Section 2.5.

 

“Open Period” shall mean the period beginning on and including the Trading Day immediately following the Effective Date and ending on the earlier to occur of (i) the date which is twenty four

(24) months from the Effective Date; or (ii) termination of the Agreement in accordance with Section 8.

 

“Pricing Period” shall mean ten (10) consecutive trading days preceding the receipt of the applicable Put Notice.

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“Principal Market” shall mean the New York Stock Exchange, the NYSE Amex, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market or the OTC Markets, whichever is the principal market on which the Common Stock is listed.

 

“Prospectus” shall mean the prospectus, preliminary prospectus and supplemental prospectus used in connection with the Registration Statement.

 

“Purchase Amount” shall mean the total amount being paid by the Investor on a particular Closing Date to purchase the Securities.

 

“Purchase Price” shall mean eighty percent (80%) of the Market Price.

 

“Put” shall mean the Company is entitled to request equity investments (the “Put” or “Puts”) by the Investor during the Contract Period, pursuant to which the Company will issue Common Stock to the Investor with an aggregate Purchase Price equal to the value of the Put, subject to a price per share calculation based on the Market Price.

 

“Put Amount” shall mean the total dollar amount requested by the Company pursuant to an applicable Put. The timing and amounts of each Put shall be at the discretion of the Company. The maximum dollar amount of each Put will not exceed two hundred percent (200%) of the average daily trading dollar volume for the Company’s Common Stock during the ten (10) trading days preceding the Put Date. No Put will be made in an amount greater than three hundred thousand dollars ($300,000). Puts are further limited to the Investor owning no more than 9.99% of the outstanding stock of the Company at any given time.

 

“Put Notice” shall mean a written notice sent to the Investor by the Company stating the Put Amount in U.S. dollars that the Company intends to sell to the Investor pursuant to the terms of the Agreement and stating the current number of Shares issued and outstanding on such date.

 

“Put Notice Date” shall mean the Trading Day, as set forth below, on which the Investor receives a Put Notice.

 

 

“Put Restriction” shall mean a minimum of ten (10) days following a Put Notice Date. During this time, the Company shall not be entitled to deliver another Put Notice.

 

“Put Shares Due” shall have the meaning set forth in Section 2.4.

 

“Registered Offering Transaction Documents” shall mean this Agreement, the Commitment Note and the Registration Rights Agreement between the Company and the Investor as of the date herewith.

 

“Registration Rights Agreement” shall have the meaning set forth in the recitals.

 

“Registration Statement” means the registration statement of the Company filed under the 1933 Act covering the Securities issuable hereunder.

 

“Related Party” shall have the meaning set forth in Section 5.7.

 

“Resolution” shall have the meaning set forth in Section 7.5.

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“SEC” shall mean the U.S. Securities and Exchange Commission. “SEC Documents” shall have the meaning set forth in Section 4.6.

“Securities” shall mean the shares of Common Stock issued pursuant to the terms of this Agreement.

 

“Settlement Date” shall have the meaning set forth in Section 6.2.

 

“Shares” shall mean the shares of the Company’s Common Stock. “Subsidiaries” shall have the meaning set forth in Section 4.1.

“Trading Day” shall mean any day on which the Principal Market for the Common Stock is open for trading, from the hours of 9:30 am until 4:00 pm.

 

“Transaction Documents” shall mean this Agreement, the Commitment Note, the Registration Rights Agreement and supporting documents between the Company and the Investor as of the date hereof.

 

“Waiting Period” shall have the meaning set forth in Section 2.2.

 

SECTION II

PURCHASE AND SALE OF COMMON STOCK

 

2.1PURCHASE AND SALE OF COMMON STOCK. Subject to the terms and conditions set forth herein, the Company shall issue and sell to the Investor, and the Investor shall purchase from the Company, up to that number of Shares having an aggregate Purchase Price of Five Million Dollars ($5,000,000). 

 

2.2DELIVERY OF PUT NOTICES. Subject to the terms and conditions herein, and from time to time during the Open Period, the Company may, in its sole discretion, deliver a Put Notice to the Investor, which states the dollar amount (designated in U.S. Dollars), which the Company intends to sell to the Investor on a Closing Date (the “Put”). The Put Notice shall be in the form attached hereto as Exhibit C and incorporated herein by reference. The price of the Put shall be eighty (80%) percent of the “Market Price”, which is the lowest traded price of the Company’s Common Stock for ten (10) consecutive trading days preceding the Put Date. During the Open Period, the Company shall not be entitled to submit a Put Notice until after the previous Closing has been completed. There will be a minimum of ten (10) trading days between Put Notices. 

 

2.3CONDITIONS TO INVESTOR’S OBLIGATION TO PURCHASE SHARES. Notwithstanding anything to the contrary in this Agreement, the Company shall not be entitled to deliver a Put Notice and the Investor shall not be obligated to purchase any Shares at a Closing unless each of the following conditions are satisfied: 

 

i.a Registration Statement shall have been declared effective and shall remain effective and available for the resale of all the Registrable Securities (as defined in the Registration Rights Agreement) at all times until the Closing with respect to the subject Put Notice; 

 

ii.at all times during the period beginning on the related Put Notice Date and ending on and including the related Closing Date, the Common Stock shall have been listed or quoted 

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for trading on the Principal Market and shall not have been suspended from trading thereon for a period of two (2) consecutive Trading Days during the Open Period and the Company shall not have been notified of any pending or threatened proceeding or other action to suspend the trading of the Common Stock;

 

iii.the Company has complied with its obligations and is otherwise not in breach of or in default under, this Agreement, the Registration Rights Agreement or any other agreement executed between the parties, which has not been cured prior to delivery of the Investor’s Put Notice Date; 

 

iv.no injunction shall have been issued and remain in force, or action commenced by a governmental authority which has not been stayed or abandoned, prohibiting the purchase or the issuance of the Securities; and 

 

v.the issuance of the Securities will not violate any shareholder approval requirements of the Principal Market. 

 

If any of the events described in clauses (i) through (v) above occurs during a Pricing Period, then the Investor shall have no obligation to purchase the Put Amount of Common Stock set forth in the applicable Put Notice.

 

2.4MECHANICS OF PURCHASE OF SHARES BY INVESTOR. Subject to the satisfaction of the conditions set forth in Sections 2.5, 7 and 8 of this Agreement, at the end of the Pricing Period, the Purchase Price shall be established and the number of Put Shares shall be delivered for a particular Put. In the event that (i) the lowest volume-weighted average price (the “VWAP”) of the Company’s Common Stock for any given trading day during the ten (10) trading days following a Put Notice (the “Trading Period”) is less than 80% of the Market Price used to determine the Purchase Price in connection with the Put and (ii) as of the end of such Trading Period, the Investor holds Shares issued pursuant to such Put Notice (the “Trading Period Shares”), then the Company shall issue such additional Shares, on the Trading Day immediately following the Trading Period, as may be necessary to adjust the Purchase Price for that portion of the Put represented by the Trading Period Shares to equal the lowest VWAP during the Trading Period. 

 

The Closing of a Put shall occur upon the first Trading Day following the receipt and approval by Investor's broker of the Put Shares, whereby the Company shall have caused the Transfer Agent to electronically transmit, prior to the applicable Closing Date, the applicable Put Shares by crediting the account of the Investor's broker with DTC through its Deposit Withdrawal Agent Commission ("DWAC") system. The Investor shall deliver the Investment Amount specified in the Put Notice by wire transfer of immediately available funds to an account designated by the Company within twenty four (24) business hours of receipt and approval by the Investor’s Broker ("Closing Date" or "Closing"). In addition, on or prior to such Closing Date, each of the Company and Investor shall deliver to each other all documents, instruments and writings required to be delivered or reasonably requested by either of them pursuant to this Agreement in order to implement and effect the transactions contemplated herein.

 

2.5OVERALL LIMIT ON COMMON STOCK ISSUABLE. Notwithstanding anything contained herein to the contrary, if during the Open Period the Company becomes listed on an exchange which limits the number of shares of Common Stock that may be issued without shareholder approval, then the number of Shares issuable by the Company and purchasable by the Investor, shall not exceed that number of the shares of Common Stock that may be issuable without shareholder approval (the “Maximum Common Stock Issuance”). If such issuance of shares of Common Stock could cause a delisting on the Principal Market, then the Maximum Common Stock Issuance shall first be approved by 

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the Company’s shareholders in accordance with applicable law and the By-laws and the Articles of Incorporation of the Company, if such issuance of shares of Common Stock could cause a delisting on the Principal Market. The parties understand and agree that the Company’s failure to seek or obtain such shareholder approval shall in no way adversely affect the validity and due authorization of the issuance and sale of Securities or the Investor’s obligation in accordance with the terms and conditions hereof to purchase a number of Shares in the aggregate up to the Maximum Common Stock Issuance, and that such approval pertains only to the applicability of the Maximum Common Stock Issuance limitation provided in this Section 2.5.

 

2.6LIMITATION ON AMOUNT OF OWNERSHIP. Notwithstanding anything to the contrary in this Agreement, in no event shall the Investor be entitled to purchase that number of Shares, which when added to the sum of the number of shares of Common Stock beneficially owned (as such term is defined under Section 13(d) and Rule 13d-3 of the 1934 Act), by the Investor, would exceed 9.99% of the number of shares of Common Stock outstanding on the Closing Date, as determined in accordance with Rule 13d-1(j) of the 1934 Act. 

 

2.7COMMITMENT NOTE. Upon the execution of the Transaction Documents, the Company shall issue to the Investor a $67,500 Promissory Note, maturing nine (9) months from execution, as a Commitment Note ("Commitment Note"). The Commitment Note shall be deemed earned upon the execution of this Agreement. 

 

 

 

SECTION III

 

INVESTOR’S REPRESENTATIONS, WARRANTIES AND COVENANTS

 

The Investor represents and warrants to the Company, and covenants, that to the best of the Investor's knowledge:

 

3.1SOPHISTICATED INVESTOR. The Investor has, by reason of its business and financial experience, such knowledge, sophistication and experience in financial and business matters and in making investment decisions of this type that it is capable of (I) evaluating the merits and risks of an investment in the Securities and making an informed investment decision; (II) protecting its own interest; and (III) bearing the economic risk of such investment for an indefinite period of time. 

 

3.2AUTHORIZATION; ENFORCEMENT. This Agreement has been duly and validly authorized, executed and delivered on behalf of the Investor and is a valid and binding agreement of the Investor enforceable against the Investor in accordance with its terms, subject as to enforceability to general principles of equity and to applicable bankruptcy, insolvency, reorganization, moratorium, liquidation and other similar laws relating to, or affecting generally, the enforcement of applicable creditors’ rights and remedies. 

 

3.3SECTION 9 OF THE 1934 ACT. During the term of this Agreement, the Investor will comply with the provisions of Section 9 of the 1934 Act, and the rules promulgated thereunder, with respect to transactions involving the Common Stock. 

 

3.4ACCREDITED INVESTOR. Investor is an “Accredited Investor” as that term is defined in Rule 501(a) of Regulation D of the 1933 Act. 

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3.5NO CONFLICTS. The execution, delivery and performance of the Documents by the Investor and the consummation by the Investor of the transactions contemplated hereby and thereby will not result in a violation of Partnership Agreement or other organizational documents of the Investor. 

 

3.6OPPORTUNITY TO DISCUSS. The Investor has received all materials relating to the Company’s business, finance and operations, which it has requested. The Investor has had an opportunity to discuss the business, management and financial affairs of the Company with the Company’s management. 

 

3.7INVESTMENT PURPOSES. The Investor is purchasing the Securities for its own account for investment purposes and not with a view towards distribution and agrees to resell or otherwise dispose of the Securities solely in accordance with the registration provisions of the 1933 Act (or pursuant to an exemption from such registration provisions). 

 

3.8NO REGISTRATION AS A DEALER. The Investor is not required to be registered as a “dealer” under the 1934 Act, either as a result of its execution and performance of its obligations under this Agreement or otherwise. 

 

3.9GOOD STANDING. The Investor is a limited liability company, duly organized, validly existing and in good standing in the State of its Nevada. 

 

3.10TAX LIABILITIES. The Investor understands that it is liable for its own tax liabilities. 

 

3.11REGULATION M. The Investor will comply with Regulation M under the 1934 Act, if applicable. 

 

3.12NO SHORT SALES. No short sales shall be permitted by the Investor or its affiliates during the period commencing on the Execution Date and continuing through the termination of this Agreement. 

 

SECTION IV

REPRESENTATIONS AND WARRANTIES OF THE COMPANY

 

Except as set forth in the Schedules attached hereto, or as disclosed on the Company’s SEC Documents, the Company represents and warrants to the Investor that:

 

4.1ORGANIZATION AND QUALIFICATION. The Company is a corporation duly organized and validly existing in good standing under the laws of the State of Nevada and has the requisite corporate power and authorization to own its properties and to carry on its business as now being conducted. Both the Company and the companies it owns or controls (“Subsidiaries”) are duly qualified to do business and are in good standing in every jurisdiction in which its ownership of property or the nature of the business conducted by it makes such qualification necessary, except to the extent that the failure to be so qualified or be in good standing would not have a Material Adverse Effect. As used in this Agreement, “Material Adverse Effect” means a change, event, circumstance, effect or state of facts that has had or is reasonably likely to have, a material adverse effect on the business, properties, assets, operations, results of operations, financial condition or prospects of the Company and its Subsidiaries, if any, taken as a whole, or on the transactions contemplated hereby or by the agreements and instruments to be entered into in connection herewith, or on the authority or ability of the Company to perform its obligations under the Registered offering Transaction Documents. 

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4.2AUTHORIZATION; ENFORCEMENT; COMPLIANCE WITH OTHER INSTRUMENTS. 

 

i.The Company has the requisite corporate power and authority to enter into and perform this Investment Agreement and the Registration Rights Agreement (collectively, the “Registered Offering Transaction Documents”), and to issue the Securities in accordance with the terms hereof and thereof. 

 

ii.The execution and delivery of the Registered Offering Transaction Documents by the Company and the consummation by it of the transactions contemplated hereby and thereby, including without limitation the issuance of the Securities pursuant to this Agreement, have been duly and validly authorized by the Company’s Board of Directors and no further consent or authorization is required by the Company, its Board of Directors, or its shareholders. 

 

iii.The Registered Offering Transaction Documents have been duly and validly executed and delivered by the Company. 

 

iv.The Registered Offering Transaction Documents constitute the valid and binding obligations of the Company enforceable against the Company in accordance with their terms, except as such enforceability may be limited by general principles of equity or applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or similar laws relating to, or affecting generally, the enforcement of creditors’ rights and remedies. 

 

4.3CAPITALIZATION. As of the date hereof, the authorized capital stock of the Company consists of 510,000,000 shares of the Common Stock, par value $0.001 per share, of which as of the date hereof ares are issued and outstanding. All of such outstanding shares have been, or upon issuance will be, validly issued and are fully paid and nonassessable. 

_________sh

0

 

Except as disclosed in the Company’s publicly available filings with the SEC or as otherwise set forth on Schedule 4.3:

 

i.no shares of the Company’s capital stock are subject to preemptive rights or any other similar rights or any liens or encumbrances suffered or permitted by the Company; 

 

ii.there are no outstanding debt securities; 

 

iii.there are no outstanding shares of capital stock, options, warrants, scrip, rights to subscribe to, calls or commitments of any character whatsoever relating to, or securities or rights convertible into, any shares of capital stock of the Company or any of its Subsidiaries, or contracts, commitments, understandings or arrangements by which the Company or any of its Subsidiaries is or may become bound to issue additional shares of capital stock of the Company or any of its Subsidiaries or options, warrants, scrip, rights to subscribe to, calls or commitments of any character whatsoever relating to, or securities or rights convertible into, any shares of capital stock of the Company or any of its Subsidiaries; 

 

iv.there are no agreements or arrangements under which the Company or any of its Subsidiaries is obligated to register the sale of any of their securities under the 1933 Act (except the Registration Rights Agreement); 

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v.there are no outstanding securities of the Company or any of its Subsidiaries which contain any redemption or similar provisions, and there are no contracts, commitments, understandings or arrangements by which the Company or any of its Subsidiaries is or may become bound to redeem a security of the Company or any of its Subsidiaries; 

 

vi.there are no securities or instruments containing anti-dilution or similar provisions that will be triggered by the issuance of the Securities as described in this Agreement; 

 

vii.the Company does not have any stock appreciation rights or “phantom stock” plans or agreements or any similar plan or agreement; and 

 

viii.there is no dispute as to the classification of any shares of the Company’s capital stock. 

 

The Company has furnished to the Investor, or the Investor has had access through EDGAR to, true and correct copies of the Company’s Articles of Incorporation, as in effect on the date hereof (the “Articles of Incorporation”), and the Company’s By-laws, as in effect on the date hereof (the “By-laws”), and the terms of all securities convertible into or exercisable for Common Stock and the material rights of the holders thereof in respect thereto.

 

4.4ISSUANCE OF SHARES. The Company has reserved the amount of Shares included in the Company’s registration statement for issuance pursuant to the Registered Offering Transaction Documents, which have been duly authorized and reserved (subject to adjustment pursuant to the Company’s covenant set forth in Section 5.5 below) pursuant to this Agreement. Upon issuance in accordance with this Agreement, the Securities will be validly issued, fully paid for and non-assessable and free from all taxes, liens and charges with respect to the issuance thereof. In the event the Company cannot register a sufficient number of Shares for issuance pursuant to this Agreement, the Company will use its best efforts to authorize and reserve for issuance the number of Shares required for the Company to perform its obligations hereunder as soon as reasonably practicable. 

 

4.5NO CONFLICTS. The execution, delivery and performance of the Registered Offering Transaction Documents by the Company and the consummation by the Company of the transactions contemplated hereby and thereby will not (i) result in a violation of the Articles of Incorporation, any Certificate of Designations, Preferences and Rights of any outstanding series of preferred stock of the Company or the By-laws; or (ii) conflict with, or constitute a material default (or an event which with notice or lapse of time or both would become a material default) under, or give to others any rights of termination, amendment, acceleration or cancellation of, any material agreement, contract, indenture mortgage, indebtedness or instrument to which the Company or any of its Subsidiaries is a party, or to the Company’s knowledge result in a violation of any law, rule, regulation, order, judgment or decree (including United States federal and state securities laws and regulations and the rules and regulations of the Principal Market or principal securities exchange or trading market on which the Common Stock is traded or listed) applicable to the Company or any of its Subsidiaries or by which any property or asset of the Company or any of its Subsidiaries is bound or affected. Neither the Company nor its Subsidiaries is in violation of any term of, or in default under, the Articles of Incorporation, any Certificate of Designations, Preferences and Rights of any outstanding series of preferred stock of the Company or the By-laws or their organizational charter or by-laws, respectively, or any contract, agreement, mortgage, indebtedness, indenture, instrument, judgment, decree or order or any statute, rule or regulation applicable to the Company or its Subsidiaries, except for possible conflicts, defaults, terminations, amendments, accelerations, cancellations and violations that would not individually or in the aggregate have or constitute a Material Adverse Effect. The business of the Company and its Subsidiaries is not being conducted, and shall not be conducted, in violation of any law, statute, ordinance, rule, order or regulation 

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of any governmental authority or agency, regulatory or self-regulatory agency, or court, except for possible violations the sanctions for which either individually or in the aggregate would not have a Material Adverse Effect. Except as specifically contemplated by this Agreement and as required under the 1933 Act or any securities laws of any states, to the Company’s knowledge, the Company is not required to obtain any consent, authorization, permit or order of, or make any filing or registration (except the filing of a registration statement as outlined in the Registration Rights Agreement between the parties) with, any court, governmental authority or agency, regulatory or self-regulatory agency or other third party in order for it to execute, deliver or perform any of its obligations under, or contemplated by, the Registered Offering Transaction Documents in accordance with the terms hereof or thereof. All consents, authorizations, permits, orders, filings and registrations which the Company is required to obtain pursuant to the preceding sentence have been obtained or effected on or prior to the date hereof and are in full force and effect as of the date hereof. The Company and its Subsidiaries are unaware of any facts or circumstances, which might give rise to any of the foregoing. The Company is not, and will not be, in violation of the listing requirements of the Principal Market as in effect on the date hereof and on each of the Closing Dates and is not aware of any facts which would reasonably lead to delisting of the Common Stock by the Principal Market in the foreseeable future.

 

4.6 SEC DOCUMENTS; FINANCIAL STATEMENTS. As of the date hereof, the Company has filed all reports, schedules, forms, statements and other documents required to be filed by it with the SEC pursuant to the reporting requirements of the 1934 Act (all of the foregoing filed prior to the date hereof and all exhibits included therein and financial statements and schedules thereto and documents incorporated by reference therein, and amendments thereto, being hereinafter referred to as the “SEC Documents”). The Company has delivered to the Investor or its representatives, or they have had access through EDGAR to, true and complete copies of the SEC Documents. As of their respective filing dates, the SEC Documents complied in all material respects with the requirements of the 1934 Act and the rules and regulations of the SEC promulgated thereunder applicable to the SEC Documents, and none of the SEC Documents, at the time they were filed with the SEC or the time they were amended, if amended, contained any untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading. As of their respective dates, the financial statements of the Company included in the SEC Documents complied as to form in all material respects with applicable accounting requirements and the published rules and regulations of the SEC with respect thereto. Such financial statements have been prepared in accordance with generally accepted accounting principles, by a firm that is a member of the Public Companies Accounting Oversight Board (“PCAOB”) consistently applied, during the periods involved (except (i) as may be otherwise indicated in such financial statements or the notes thereto, or (ii) in the case of unaudited interim statements, to the extent they may exclude footnotes or may be condensed or summary statements) and fairly present in all material respects the financial position of the Company as of the dates thereof and the results of its operations and cash flows for the periods then ended (subject, in the case of unaudited statements, to normal year-end audit adjustments). No other written information provided by or on behalf of the Company to the Investor which is not included in the SEC Documents, including, without limitation, information referred to in Section 4.3 of this Agreement, contains any untrue statement of a material fact or omits to state any material fact necessary to make the statements therein, in the light of the circumstance under which they are or were made, not misleading. Neither the Company nor any of its Subsidiaries or any of their officers, directors, employees or agents have provided the Investor with any material, nonpublic information which was not publicly disclosed prior to the date hereof and any material, nonpublic information provided to the Investor by the Company or its Subsidiaries or any of their officers, directors, employees or agents prior to any Closing Date shall be publicly disclosed by the Company prior to such Closing Date. 

 

4.7ABSENCE OF CERTAIN CHANGES. Except as otherwise set forth in the SEC Documents, the Company does not intend to change the business operations of the Company in any 

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material way. The Company has not taken any steps, and does not currently expect to take any steps, to seek protection pursuant to any bankruptcy law nor does the Company or its Subsidiaries have any knowledge or reason to believe that its creditors intend to initiate involuntary bankruptcy proceedings.

 

4.8ABSENCE OF LITIGATION AND/OR REGULATORY PROCEEDINGS. Except as set forth in the SEC Documents, there is no action, suit, proceeding, inquiry or investigation before or by any court, public board, government agency, self-regulatory organization or body pending or, to the knowledge of the executive officers of Company or any of its Subsidiaries, threatened against or affecting the Company, the Common Stock or any of the Company’s Subsidiaries or any of the Company’s or the Company’s Subsidiaries’ officers or directors in their capacities as such, in which an adverse decision could have a Material Adverse Effect. 

 

4.9ACKNOWLEDGMENT REGARDING INVESTOR’S PURCHASE OF SHARES. The Company acknowledges and agrees that the Investor is acting solely in the capacity of an arm’s length Investor with respect to the Registered Offering Transaction Documents and the transactions contemplated hereby and thereby. The Company further acknowledges that the Investor is not acting as a financial advisor or fiduciary of the Company (or in any similar capacity) with respect to the Registered Offering Transaction Documents and the transactions contemplated hereby and thereby and any advice given by the Investor or any of its respective representatives or agents in connection with the Registered Offering Transaction Documents and the transactions contemplated hereby and thereby is merely incidental to the Investor’s purchase of the Securities, and is not being relied on by the Company. The Company further represents to the Investor that the Company’s decision to enter into the Registered Offering Transaction Documents has been based solely on the independent evaluation by the Company and its representatives. 

 

4.10NO UNDISCLOSED EVENTS, LIABILITIES, DEVELOPMENTS OR CIRCUMSTANCES. Except as set forth in the SEC Documents, as of the date hereof, no event, liability, development or circumstance has occurred or exists, or to the Company’s knowledge is contemplated to occur, with respect to the Company or its Subsidiaries or their respective business, properties, assets, prospects, operations or financial condition, that would be required to be disclosed by the Company under applicable securities laws on a registration statement filed with the SEC relating to an issuance and sale by the Company of its Common Stock and which has not been publicly announced. 

 

4.11EMPLOYEE RELATIONS. Neither the Company nor any of its Subsidiaries is involved in any union labor dispute nor, to the knowledge of the Company or any of its Subsidiaries, is any such dispute threatened. Neither the Company nor any of its Subsidiaries is a party to a collective bargaining agreement, and the Company and its Subsidiaries believe that relations with their employees are good. No executive officer (as defined in Rule 501(f) of the 1933 Act) has notified the Company that such officer intends to leave the Company’s employ or otherwise terminate such officer’s employment with the Company. 

 

4.12INTELLECTUAL PROPERTY RIGHTS. The Company and its Subsidiaries own or possess adequate rights or licenses to use all trademarks, trade names, service marks, service mark registrations, service names, patents, patent rights, copyrights, inventions, licenses, approvals, governmental authorizations, trade secrets and rights necessary to conduct their respective businesses as now conducted. Except as set forth in the SEC Documents, none of the Company’s trademarks, trade names, service marks, service mark registrations, service names, patents, patent rights, copyrights, inventions, licenses, approvals, government authorizations, trade secrets or other intellectual property rights necessary to conduct its business as now or as proposed to be conducted have expired or terminated, or are expected to expire or terminate within two (2) years from the date of this Agreement. 

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The Company and its Subsidiaries do not have any knowledge of any infringement by the Company or its Subsidiaries of trademark, trade name rights, patents, patent rights, copyrights, inventions, licenses, service names, service marks, service mark registrations, trade secret or other similar rights of others, or of any such development of similar or identical trade secrets or technical information by others and, except as set forth in the SEC Documents, there is no claim, action or proceeding being made or brought against, or to the Company’s knowledge, being threatened against, the Company or its Subsidiaries regarding trademark, trade name, patents, patent rights, invention, copyright, license, service names, service marks, service mark registrations, trade secret or other infringement; and the Company and its Subsidiaries are unaware of any facts or circumstances which might give rise to any of the foregoing. The Company and its Subsidiaries have taken commercially reasonable security measures to protect the secrecy, confidentiality and value of all of their intellectual properties.

 

4.13TITLE. The Company and its Subsidiaries have good and marketable title to all personal property owned by them which is material to the business of the Company and its Subsidiaries, in each case free and clear of all liens, encumbrances and defects except such as are described in the SEC Documents or such as do not materially affect the value of such property and do not interfere with the use made and proposed to be made of such property by the Company or any of its Subsidiaries. Any real property and facilities held under lease by the Company or any of its Subsidiaries are held by them under valid, subsisting and enforceable leases with such exceptions as are not material and do not interfere with the use made and proposed to be made of such property and buildings by the Company and its Subsidiaries. 

 

4.14INSURANCE. Each of the Company’s Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as management of the Company reasonably believes to be prudent and customary in the businesses in which the Company and its Subsidiaries are engaged. Neither the Company nor any of its Subsidiaries has been refused any insurance coverage sought or applied for and neither the Company nor its Subsidiaries has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business at a cost that would not have a Material Adverse Effect. 

 

4.15REGULATORY PERMITS. The Company and its Subsidiaries have in full force and effect all certificates, approvals, authorizations and permits from the appropriate federal, state, local or foreign regulatory authorities and comparable foreign regulatory agencies, necessary to own, lease or operate their respective properties and assets and conduct their respective businesses, and neither the Company nor any such Subsidiary has received any notice of proceedings relating to the revocation or modification of any such certificate, approval, authorization or permit, except for such certificates, approvals, authorizations or permits which if not obtained, or such revocations or modifications which, would not have a Material Adverse Effect. 

 

4.16INTERNAL ACCOUNTING CONTROLS. Except as otherwise set forth in the SEC Documents, the Company and each of its Subsidiaries maintain a system of internal accounting controls sufficient to provide reasonable assurance that (i) transactions are executed in accordance with management’s general or specific authorizations; (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles by a firm with membership to the PCAOB and to maintain asset accountability; (iii) access to assets is permitted only in accordance with management’s general or specific authorization; and (iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences. The Company’s management has determined that the 

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Company’s internal accounting controls were not effective as of the date of this Agreement as further described in the SEC Documents.

 

4.17NO MATERIALLY ADVERSE CONTRACTS, ETC. Neither the Company nor any of its Subsidiaries is subject to any charter, corporate or other legal restriction, or any judgment, decree, order, rule or regulation which in the judgment of the Company’s officers has or is expected in the future to have a Material Adverse Effect. Neither the Company nor any of its Subsidiaries is a party to any contract or agreement, which in the judgment of the Company’s officers has or is expected to have a Material Adverse Effect. 

 

4.18TAX STATUS. The Company and each of its Subsidiaries has made or filed all United States federal and state income and all other tax returns, reports and declarations required by any jurisdiction to which it is subject (unless and only to the extent that the Company and each of its Subsidiaries has set aside on its books provisions reasonably adequate for the payment of all unpaid and unreported taxes) and has paid all taxes and other governmental assessments and charges that are material in amount, shown or determined to be due on such returns, reports and declarations, except those being contested in good faith and has set aside on its books provision reasonably adequate for the payment of all taxes for periods subsequent to the periods to which such returns, reports or declarations apply. There are no unpaid taxes in any material amount claimed to be due by the taxing authority of any jurisdiction, and the officers of the Company know of no basis for any such claim. 

 

4.19CERTAIN TRANSACTIONS. Except as set forth in the SEC Documents filed at least ten (10) days prior to the date hereof and except for arm’s length transactions pursuant to which the Company makes payments in the ordinary course of business upon terms no less favorable than the Company could obtain from disinterested third parties , none of the officers, directors, or employees of the Company is presently a party to any transaction with the Company or any of its Subsidiaries (other than for services as employees, officers and directors), including any contract, agreement or other arrangement providing for the furnishing of services to or by, providing for rental of real or personal property to or from, or otherwise requiring payments to or from any officer, director or such employee or, to the knowledge of the Company, any corporation, partnership, trust or other entity in which any officer, director, or any such employee has a substantial interest or is an officer, director, trustee or partner, such that disclosure would be required in the SEC Documents.. 

 

4.20DILUTIVE EFFECT. The Company understands and acknowledges that the number of shares of Common Stock issuable upon purchases pursuant to this Agreement will increase in certain circumstances including, but not necessarily limited to, the circumstance wherein the trading price of the Common Stock declines during the period between the Effective Date and the end of the Open Period. The Company’s executive officers and directors have studied and fully understand the nature of the transactions contemplated by this Agreement and recognize that they have a potential dilutive effect on the shareholders of the Company. The Board of Directors of the Company has concluded, in its good faith business judgment, and with full understanding of the implications, that such issuance is in the best interests of the Company. The Company specifically acknowledges that, subject to such limitations as are expressly set forth in the Registered Offering Transaction Documents, its obligation to issue shares of Common Stock upon purchases pursuant to this Agreement is absolute and unconditional regardless of the dilutive effect that such issuance may have on the ownership interests of other shareholders of the Company. 

 

4.21NO GENERAL SOLICITATION. Neither the Company, nor any of its affiliates, nor any person acting on its behalf, has engaged in any form of general solicitation or general advertising (within 

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the meaning of Regulation D) in connection with the offer or sale of the Common Stock to be offered as set forth in this Agreement.

 

4.22NO BROKERS, FINDERS OR FINANCIAL ADVISORY FEES OR COMMISSIONS. No brokers, finders or financial advisory fees or commissions will be payable by the Company, its agents or Subsidiaries, with respect to the transactions contemplated by this Agreement. 

 

4.23EXCLUSIVITY. The Company shall not pursue a similar Equity Financing transaction with any other party unless and until good faith negotiations have terminated between the Investor and the Company or until such time as the registration statement has been declared effective by the SEC. 

 

SECTION V COVENANTS OF THE COMPANY

 

5.1BEST EFFORTS. The Company shall use all commercially reasonable efforts to timely satisfy each of the conditions set forth in Section 7 of this Agreement. 

 

5.2REPORTING STATUS. Until one of the following occurs, the Company shall file all reports required to be filed with the SEC pursuant to the 1934 Act, and the Company shall not terminate its status, or take an action or fail to take any action, which would terminate its status as a reporting company under the 1934 Act: (i) this Agreement terminates pursuant to Section 8 and the Investor has the right to sell all of the Securities without restrictions pursuant to Rule 144 promulgated under the 1933 Act, or such other exemption, or (ii) the date on which the Investor has sold all the Securities and this Agreement has been terminated pursuant to Section 8. 

 

5.3USE OF PROCEEDS. The Company will use the proceeds from the sale of the Shares (excluding amounts paid by the Company for fees as set forth in the Registered Offering Transaction Documents) for general corporate and working capital purposes and acquisitions or assets, businesses or operations or for other purposes that the Board of Directors, in good faith deem to be in the best interest of the Company. 

 

5.4FINANCIAL INFORMATION. During the Open Period, the Company agrees to make available to the Investor via EDGAR or other electronic means the following documents and information on the forms set forth: (i) within five (5) Trading Days after the filing thereof with the SEC, a copy of its Annual Reports on Form 10-K, its Quarterly Reports on Form 10-Q, any Current Reports on Form 8-K and any Registration Statements or amendments filed pursuant to the 1933 Act; (ii) copies of any notices and other information made available or given to the shareholders of the Company generally, contemporaneously with the making available or giving thereof to the shareholders; and (iii) within two 

(2) calendar days of filing or delivery thereof, copies of all documents filed with, and all correspondence sent to, the Principal Market, any securities exchange or market, or the Financial Industry Regulatory Association, unless such information is material nonpublic information.

 

5.5RESERVATION OF SHARES. The Company shall take all action necessary to at all times have authorized, and reserved the amount of Shares included in the Company’s registration statement for issuance pursuant to the Registered Offering Transaction Documents. In the event that the Company determines that it does not have a sufficient number of authorized shares of Common Stock to reserve and keep available for issuance as described in this Section 5.5, the Company shall use all commercially reasonable efforts to increase the number of authorized shares of Common Stock by seeking shareholder approval for the authorization of such additional shares. 

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5.6LISTING. The Company shall promptly secure and maintain the listing of all of the Registrable Securities (as defined in the Registration Rights Agreement) on the Principal Market and each other national securities exchange and automated quotation system, if any, upon which shares of  Common Stock are then listed (subject to official notice of issuance) and shall maintain, such listing of all Registrable Securities from time to time issuable under the terms of the Registered Offering Transaction Documents. Neither the Company nor any of its Subsidiaries shall take any action, which would be reasonably expected to result in the delisting or suspension of the Common Stock on the Principal Market (excluding suspensions of not more than one (1) Trading Day resulting from business announcements by the Company). The Company shall promptly provide to the Investor copies of any notices it receives from the Principal Market regarding the continued eligibility of the Common Stock for listing on such automated quotation system or securities exchange. The Company shall pay all fees and expenses in connection with satisfying its obligations under this Section 5.6. 

 

5.7TRANSACTIONS WITH AFFILIATES. The Company shall not, and shall cause each of its Subsidiaries not to, enter into, amend, modify or supplement, or permit any Subsidiary to enter into, amend, modify or supplement, any agreement, transaction, commitment or arrangement with any of its or any Subsidiary’s officers, directors, persons who were officers or directors at any time during the previous two (2) years, shareholders who beneficially own 5% or more of the Common Stock, or Affiliates or with any individual related by blood, marriage or adoption to any such individual or with any entity in which any such entity or individual owns a 5% or more beneficial interest (each a “Related Party”), except for (i) customary employment arrangements and benefit programs on reasonable terms, 

(ii) any agreement, transaction, commitment or arrangement on an arms-length basis on terms no less favorable than terms which would have been obtainable from a disinterested third party other than such Related Party, or (iii) any agreement, transaction, commitment or arrangement which is approved by a majority of the disinterested directors of the Company. For purposes hereof, any director who is also an officer of the Company or any Subsidiary of the Company shall not be a disinterested director with respect to any such agreement, transaction, commitment or arrangement. “Affiliate” for purposes hereof means, with respect to any person or entity, another person or entity that, directly or indirectly, (i) has a 5% or more equity interest in that person or entity, (ii) has 5% or more common ownership with that person or entity, (iii) controls that person or entity, or (iv) is under common control with that person or entity. “Control” or “Controls” for purposes hereof means that a person or entity has the power, directly or indirectly, to conduct or govern the policies of another person or entity.

 

5.8FILING OF FORM 8-K. On or before the date which is four (4) Trading Days after the Execution Date, the Company shall file a Current Report on Form 8-K with the SEC describing the terms of the transaction contemplated by the Registered Offering Transaction Documents in the form required by the 1934 Act, if such filing is required. 

 

5.9CORPORATE EXISTENCE. The Company shall use all commercially reasonable efforts to preserve and continue the corporate existence of the Company. 

 

5.10NOTICE OF CERTAIN EVENTS AFFECTING REGISTRATION; SUSPENSION OF RIGHT TO MAKE A PUT. The Company shall promptly notify the Investor upon the occurrence of any of the following events in respect of a Registration Statement or related prospectus in respect of an offering of the Securities: (i) receipt of any request for additional information by the SEC or any other federal or state governmental authority during the period of effectiveness of the Registration Statement for amendments or supplements to the Registration Statement or related prospectus; (ii) the issuance by the SEC or any other federal or state governmental authority of any stop order suspending the effectiveness of any Registration Statement or the initiation of any proceedings for that purpose; (iii) receipt of any notification with respect to the suspension of the qualification or exemption from 

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qualification of any of the Securities for sale in any jurisdiction or the initiation or notice of any proceeding for such purpose; (iv) the happening of any event that makes any statement made in such Registration Statement or related prospectus or any document incorporated or deemed to be incorporated therein by reference untrue in any material respect or that requires the making of any changes in the Registration Statement, related prospectus or documents so that, in the case of a Registration Statement, it will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and that in the case of the related prospectus, it will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; and (v) the Company’s reasonable determination that a post-effective amendment or supplement to the Registration Statement would be appropriate, and the Company shall promptly make available to Investor any such supplement or amendment to the related prospectus. The Company shall not deliver to Investor any Put Notice during the continuation of any of the foregoing events in this Section 5.10.

 

5.11TRANSFER AGENT. The Company shall deliver instructions to its transfer agent to issue Shares to the Investor that are issued to the Investor Pursuant to the Transactions contemplated herein. 

 

5.12ACKNOWLEDGEMENT OF TERMS. The Company hereby represents and warrants to the Investor that: (i) it is voluntarily entering into this Agreement of its own freewill, (ii) it is not entering this Agreement under economic duress, (iii) the terms of this Agreement are reasonable and fair to the Company, and (iv) the Company has had independent legal counsel of its own choosing review this Agreement, advise the Company with respect to this Agreement, and represent the Company in connection with this Agreement. 

 

SECTION VI

CONDITIONS OF THE COMPANY’S OBLIGATION TO SELL

 

The obligation hereunder of the Company to issue and sell the Securities to the Investor is further subject to the satisfaction, at or before each Closing Date, of each of the following conditions set forth below. These conditions are for the Company’s sole benefit and may be waived by the Company at any time in its sole discretion.

 

6.1The Investor shall have executed this Agreement and the Registration Rights Agreement and delivered the same to the Company. 

6.2The Investor shall have delivered to the Company the Purchase Price for the Securities being purchased by the Investor. 

6.3No statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated or endorsed by any court or governmental authority of competent jurisdiction which prohibits the consummation of any of the transactions contemplated by  this Agreement. 

 

SECTION VII

FURTHER CONDITIONS OF THE INVESTOR’S OBLIGATION TO PURCHASE

 

The obligation of the Investor hereunder to purchase Securities is subject to the satisfaction, on or before each Closing Date, of each of the following conditions set forth below.

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7.1The Company shall have executed the Registered Offering Transaction Documents and delivered the same to the Investor. 

 

7.2The representations and warranties of the Company shall be true and correct as of the date when made and as of the applicable Closing Date as though made at that time and the Company shall have performed, satisfied and complied with the covenants, agreements and conditions required by the Registered Offering Transaction Documents to be performed, satisfied or complied with by the Company on or before such Closing Date. The Investor may request an update as of such Closing Date regarding the representation contained in Section 4.3. 

 

7.3The Company shall have executed and delivered to the Investor the certificates representing, or have executed electronic book-entry transfer of, the Securities (in such denominations as the Investor shall request) being purchased by the Investor at such Closing. 

 

7.4The Board of Directors of the Company shall have adopted resolutions consistent with Section 4.2(ii) (the “Resolutions”) and such Resolutions shall not have been amended or rescinded prior to such Closing Date. 

 

7.5No statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated or endorsed by any court or governmental authority of competent jurisdiction which prohibits the consummation of any of the transactions contemplated by this  Agreement. 

 

7.6Pursuant to the terms of the Registration Rights Agreement, within thirty (30) days after the Agreement is executed, the Company agrees to use its best efforts to file with the SEC the Registration Statement covering the shares of stock underlying the Equity Financing contemplated herein. Such Registration Statement shall conform to the requirements of the rules and regulations of the SEC and the terms and conditions of Equity Financing this agreement as expressed in the Registration Statement shall be reviewed and approved by the Investor. The Company will take any and all steps necessary to have the Registration Statement declared effective by the SEC within 30 days but no more than 90 days after the Company has filed the Registration Statement. Such Registration Statement shall conform to the requirements of the rules and regulations of the SEC and the terms and conditions of the equity financing as expressed in the Registration Statement and shall be reviewed and approved by the Investor. The Registration Statement shall be effective on each Closing Date and no stop order suspending the effectiveness of the Registration Statement shall be in effect or to the Company’s knowledge shall be pending or threatened. Furthermore, on each Closing Date (I) neither the Company nor the Investor shall have received notice that the SEC has issued or intends to issue a stop order with respect to such Registration Statement or that the SEC otherwise has suspended or withdrawn the effectiveness of such Registration Statement, either temporarily or permanently, or intends or has threatened to do so (unless the SEC’s concerns have been addressed), and (II) no other suspension of the use or withdrawal of the effectiveness of such Registration Statement or related prospectus shall exist. 

 

7.7At the time of each Closing, the Registration Statement (including information or documents incorporated by reference therein) and any amendments or supplements thereto shall not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading or which would require public disclosure or an update supplement to the prospectus. 

 

7.8If applicable, the shareholders of the Company shall have approved the issuance of any Shares in excess of the Maximum Common Stock Issuance in accordance with Section 2.5 or the 

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Company shall have obtained appropriate approval pursuant to the requirements of applicable state and federal laws and the Company’s Articles of Incorporation and By-laws.

 

7.9The conditions to such Closing set forth in Section 2.3 shall have been satisfied on or before such Closing Date. 

 

7.10The Company shall have certified to the Investor the number of Shares of Common Stock outstanding when a Put Notice is given to the Investor. The Company’s delivery of a Put Notice to the Investor constitutes the Company’s certification of the existence of the necessary number of shares of Common Stock reserved for issuance. 

 

SECTION VIII TERMINATION

 

This Agreement shall terminate upon any of the following events:

 

8.1when the Investor has purchased an aggregate of Five Million Dollars ($5,000,000) worth of the Common Stock of the Company pursuant to this Agreement; or 

 

8.2on the date which is twenty four (24) months after the Effective Date; or 

 

8.3at such time that the Registration Statement is no longer in effect. 

 

Any and all shares, or penalties, if any, due under this Agreement shall be immediately payable and due upon termination of this Agreement.

 

SECTION IX SUSPENSION

 

This Agreement shall be suspended upon any of the following events, and shall remain suspended until such event is rectified:

 

i.The trading of the Common Stock is suspended by the SEC, the Principal Market or FINRA for a period of two (2) consecutive Trading Days during the Open Period; or 

 

ii.The Common Stock ceases to be quoted, listed or traded on the Principal Market or the Registration Statement is no longer effective (except as permitted hereunder). Immediately upon the occurrence of one of the above-described events, the Company shall send written notice of such event to the Investor. 

 

SECTION X INDEMNIFICATION

 

In consideration of the parties mutual obligations set forth in the Transaction Documents, the Company ( the “Indemnitor”) shall defend, protect, indemnify and hold harmless the Investor and all of the investor’s shareholders, officers, directors, employees, counsel, and direct or indirect investors and any of the foregoing person’s agents or other representatives (including, without limitation, those retained in connection with the transactions contemplated by this Agreement) (collectively, the “Indemnitees”) from and against any and all actions, causes of action, suits, claims, losses, costs, penalties,  fees, liabilities and damages, and reasonable expenses in connection therewith (irrespective of whether any

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such Indemnitee is a party to the action for which indemnification hereunder is sought), and including reasonable attorneys’ fees and disbursements (the “Indemnified Liabilities”), incurred by any Indemnitee as a result of, or arising out of, or relating to (I) any misrepresentation or breach of any representation or warranty made by the Indemnitor or any other certificate, instrument or document contemplated hereby or thereby; (II) any breach of any covenant, agreement or obligation of the Indemnitor contained in the Registered Offering Transaction Documents or any other certificate, instrument or document contemplated hereby or thereby; or (III) any cause of action, suit or claim brought or made against such Indemnitee by a third party and arising out of or resulting from the execution, delivery, performance or enforcement of the Registered Offering Transaction Documents or any other certificate, instrument or document contemplated hereby or thereby, except insofar as any such misrepresentation, breach or any untrue statement, alleged untrue statement, omission or alleged omission is made in reliance upon and in conformity with information furnished to Indemnitor which is specifically intended for use in the preparation of any such Registration Statement, preliminary prospectus, prospectus or amendments to the prospectus. To the extent that the foregoing undertaking by the Indemnitor may be unenforceable for any reason, the Indemnitor shall make the maximum contribution to the payment and satisfaction of each of the Indemnified Liabilities which is permissible under applicable law. The indemnity provisions contained herein shall be in addition to any cause of action or similar rights Indemnitor may have, and any liabilities the Indemnitor or the Indemnitees may be subject to.

 

SECTION XI

GOVERNING LAW; DISPUTES SUBMITTED TO ARBITRATION.

 

11.1LAW GOVERNING THIS AGREEMENT. This Agreement shall be governed by and construed in accordance with the laws of the State of New York without regard to principles of conflicts of laws. Any action brought by either party against the other concerning the transactions contemplated by this Agreement shall be brought only in the state or federal courts located in New York City, New York State. The parties to this Agreement hereby irrevocably waive any objection to jurisdiction and venue of any action instituted hereunder and shall not assert any defense based on lack of jurisdiction or venue or based upon forum non conveniens. The parties executing this Agreement and other agreements referred to herein or delivered in connection herewith on behalf of the Company agree to submit to the in personam jurisdiction of such courts and hereby irrevocably waive trial by jury. The prevailing party shall be entitled to recover from the other party its reasonable attorney’s fees and costs. In the event that any provision of this Agreement or any other agreement delivered in connection herewith is invalid or unenforceable under any applicable statute or rule of law, then such provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to conform with such statute or rule of law. Any such provision which may prove invalid or unenforceable under any law shall not affect the validity or enforceability of any other provision of any agreement. Each party hereby irrevocably waives personal service of process and consents to process being served in any suit, action or proceeding in connection with this Agreement or any other Transaction Documents by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted by law. 

 

11.2LEGAL FEES; AND MISCELLANEOUS FEES. Except as otherwise set forth in the Registered Offering Transaction Documents (including but not limited to Section V of the Registration Rights Agreement), each party shall pay the fees and expenses of its advisers, counsel, the accountants and other experts, if any, and all other expenses incurred by such party incident to the negotiation, preparation, execution, delivery and performance of this Agreement. Any attorneys’ fees and expenses incurred by either the Company or the Investor in connection with the preparation, negotiation, execution and delivery of any amendments to this Agreement or relating to the enforcement of the rights of any 

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party, after the occurrence of any breach of the terms of this Agreement by another party or any default by another party in respect of the transactions contemplated hereunder, shall be paid on demand by the party which breached the Agreement and/or defaulted, as the case may be. The Company shall pay all stamp and other taxes and duties levied in connection with the issuance of any Securities.

 

11.3COUNTERPARTS. This Agreement may be executed in any number of counterparts and by the different signatories hereto on separate counterparts, each of which, when so executed, shall be deemed an original, but all such counterparts shall constitute but one and the same instrument. This Agreement may be executed by facsimile transmission, PDF, electronic signature or other similar electronic means with the same force and effect as if such signature page were an original thereof. 

 

11.4HEADINGS; SINGULAR/PLURAL. The headings of this Agreement are for convenience of reference and shall not form part of, or affect the interpretation of, this Agreement. Whenever required by the context of this Agreement, the singular shall include the plural and masculine shall include the feminine. 

 

11.5SEVERABILITY. If any provision of this Agreement shall be invalid or unenforceable in any jurisdiction, such invalidity or unenforceability shall not affect the validity or enforceability of the remainder of this Agreement in that jurisdiction or the validity or enforceability of any provision of this Agreement in any other jurisdiction. 

 

11.6ENTIRE AGREEMENT; AMENDMENTS. This Agreement is the FINAL AGREEMENT between the Company and the Investor with respect to the terms and conditions set forth herein, and, the terms of this Agreement may not be contradicted by evidence of prior, contemporaneous, or subsequent oral agreements of the Parties. No provision of this Agreement may be amended other than by an instrument in writing signed by the Company and the Investor, and no provision hereof may be waived other than by an instrument in writing signed by the party against whom enforcement is sought. The execution and delivery of the Registered Offering Transaction Documents shall not alter the force and effect of any other agreements between the Parties, and the obligations under those agreements. 

 

11.7NOTICES. Any notices or other communications required or permitted to be given under the terms of this Agreement must be in writing and will be deemed to have been delivered (I) upon receipt, when delivered personally; (II) upon receipt, when sent by facsimile (provided confirmation of transmission is mechanically or electronically generated and kept on file by the sending party); or (III) one (1) day after deposit with a nationally recognized overnight delivery service, in each case properly addressed to the party to receive the same. The addresses and facsimile numbers for such communications shall be: 

 

 

If to the Company:

Applife Digital Solutions, Inc Attn: Matthew Reid

338 N. Market St., #161

San Jose, CA 95110__________ Fax:

 

 

 

With a copy to:

via email: m_re_id_@_ap_p_lif_e_di_gi_ta_l.c_o_m_, m__at_tr_ei_d._email@gmail.com

Attn:

____________________

____________________ Fax:

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If to the Investor:GHS Investments, LLC 

420 Jericho Turnpike,

Suite 207

Jericho, NY 11753

 

 

Each party shall provide five (5) days prior written notice to the other party of any change in address or facsimile number.

 

11.8NO ASSIGNMENT. This Agreement may not be assigned. 

 

11.9NO THIRD PARTY BENEFICIARIES. This Agreement is intended for the benefit of the parties hereto and is not for the benefit of, nor may any provision hereof be enforced by, any other person, except that the Company acknowledges that the rights of the Investor may be enforced by its general partner. 

 

11.10SURVIVAL. The representations and warranties of the Company and the Investor contained in Sections 3 and 4, the agreements and covenants set forth in Sections 5 and 6, and the indemnification provisions set forth in Section 10, shall survive each of the Closings and the termination of this Agreement. 

 

11.11PUBLICITY. The Investor acknowledges that this Agreement and all or part of the Registered Offering Transaction Documents may be deemed to be “material contracts” as that term is defined by Item 601(b)(10) of Regulation S-K, and that the Company may therefore be required to file such documents as exhibits to reports or registration statements filed under the 1933 Act or the 1934 Act. The Investor further agrees that the status of such documents and materials as material contracts shall be determined solely by the Company, in consultation with its counsel. 

 

11.12FURTHER ASSURANCES. Each party shall do and perform, or cause to be done and performed, all such further acts and things, and shall execute and deliver all such other agreements, certificates, instruments and documents, as the other party may reasonably request in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated hereby. 

 

11.13PLACEMENT AGENT. If so required, the Company agrees to pay a registered broker dealer, to act as placement agent, a percentage of the Put Amount on each Put toward the fee as outlined in that certain placement agent agreement entered into between the Company and the placement agent. The Investor shall have no obligation with respect to any fees or with respect to any claims made by or on behalf of other persons or entities for fees of a type contemplated in this Section that may be due in connection with the transactions contemplated by the Registered Offering Transaction Documents. The Company shall indemnify and hold harmless the Investor, their employees, officers, directors, agents, and partners, and their respective affiliates, from and against all claims, losses, damages, costs (including the costs of preparation and attorney’s fees) and expenses incurred in respect of any such claimed or existing fees, as such fees and expenses are incurred. 

 

11.14NO STRICT CONSTRUCTION. The language used in this Agreement will be deemed to be the language chosen by the parties to express their mutual intent, and no rules of strict construction will be applied against any party, as the parties mutually agree that each has had a full and fair opportunity to review this Agreement and seek the advice of counsel on it. 

21

11.15REMEDIES. The Investor shall have all rights and remedies set forth in this Agreement and the Registration Rights Agreement and all rights and remedies which such holders have been granted at any time under any other agreement or contract and all of the rights which the Investor has by law. Any person having any rights under any provision of this Agreement shall be entitled to enforce such rights specifically (without posting a bond or other security), to recover damages by reason of any default or breach of any provision of this Agreement, including the recovery of reasonable attorneys fees and costs, and to exercise all other rights granted by law. 

 

11.16PAYMENT SET ASIDE. To the extent that the Company makes a payment or payments to the Investor hereunder or under the Registration Rights Agreement or the Investor enforces or exercises its rights hereunder or thereunder, and such payment or payments or the proceeds of such enforcement or exercise or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside, recovered from, disgorged by or are required to be refunded, repaid or otherwise restored to the Company, a trustee, receiver or any other person under any law (including, without limitation, any bankruptcy law, state or federal law, common law or equitable cause of action), then to the extent of any such restoration the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such enforcement or setoff had not occurred. 

 

11.17PRICING OF COMMON STOCK. For purposes of this Agreement, the price of the Common Stock shall be as reported by Quotestream Media. 

 

SECTION XII

NON-DISCLOSURE OF NON-PUBLIC INFORMATION

 

The Company shall not disclose non-public information to the Investor, its advisors, or its representatives.

 

Nothing herein shall require the Company to disclose non-public information to the Investor or its advisors or representatives, and the Company represents that it does not disseminate non-public information to any investors who purchase stock in the Company in a public offering, to money managers or to securities analysts, provided, however, that notwithstanding anything herein to the contrary, the Company will, as hereinabove provided, immediately notify the advisors and representatives of the Investor and, if any, underwriters, of any event or the existence of any circumstance (without any obligation to disclose the specific event or circumstance) of which it becomes aware, constituting non- public information (whether or not requested of the Company specifically or generally during the course of due diligence by such persons or entities), which, if not disclosed in the prospectus included in the Registration Statement would cause such prospectus to include a material misstatement or to omit a material fact required to be stated therein in order to make the statements, therein, in light of the circumstances in which they were made, not misleading. Nothing contained in this Section 12 shall be construed to mean that such persons or entities other than the Investor (without the written consent of the Investor prior to disclosure of such information) may not obtain non-public information in the course of conducting due diligence in accordance with the terms of this Agreement and nothing herein shall prevent any such persons or entities from notifying the Company of their opinion that based on such due diligence by such persons or entities, that the Registration Statement contains an untrue statement of material fact or omits a material fact required to be stated in the Registration Statement or necessary to make the statements contained therein, in light of the circumstances in which they were made, not misleading.

 

SECTION XIII ACKNOWLEDGEMENTS OF THE PARTIES

22

Notwithstanding anything in this Agreement to the contrary, the parties hereto hereby acknowledge and agree to the following: (i) the Investor makes no representations or covenants that it will not engage in trading in the securities of the Company, other than the Investor will not short the Company’s common stock at any time during this Agreement; (ii) the Company shall, by 8:30 a.m. EST on the second Trading Day following the date hereof, file a current report on Form 8-K disclosing the material terms of the transactions contemplated hereby and in the other Registered Offering Transaction Documents; (iii) the Company has not and shall not provide material non-public information to the Investor unless prior thereto the Investor shall have executed a written agreement regarding the confidentiality and use of such information; and (iv) the Company understands and confirms that the Investor will be relying on the acknowledgements set forth in clauses (i) through (iii) above if the Investor effects any transactions in the securities of the Company.

 

[Signature page follows]

23

 

 

Your signature on this Signature Page evidences your agreement to be bound by the terms and conditions of the Investment Agreement as of the date first written above. The undersigned signatory hereby certifies that he has read and understands the Investment Agreement, and the representations made by the undersigned in this Investment Agreement are true and accurate, and agrees to be bound by its terms.

 

GHS INVESTMENTS, LLC

 

 

By: /s/ Sarfraz Hajee_________________ 

Name: _S_a_rfr_az_H_a_je_e____

Title: __M_e_m_b_er_______

 

APPLIFE DIGITAL SOLUTIONS, INC.

 

By: /s/ Matt Reid_____________________ Name: ____M_at_th_e_w_R_ei_d _

Title: ______c_eo_____

 

 

 

 

[SIGNATURE PAGE OF EQUITY FINANCING AGREEMENT]

24

 

LIST OF EXHIBITS

 

 

 

EXHIBIT ARegistration Rights Agreement EXHIBIT BNotice of Effectiveness EXHIBIT CPut Notice 

EXHIBIT DPut Settlement Sheet 

25

 

EXHIBIT A REGISTRATION 
RIGHTS AGREEMENT

See attached.

26

 

 

EXHIBIT B

 

FORM OF NOTICE OF EFFECTIVENESS OF REGISTRATION STATEMENT

 

Date: __________

 

[TRANSFER AGENT]

 

Re: Applife Digital Solutions, Inc., Ladies and Gentlemen:

We are counsel to Applife Digital Solutions, Inc., a Nevada corporation (the “Company”), and have represented the Company in connection with that certain Equity Financing Agreement (the “Investment Agreement”) entered into by and among the Company and GHS Investments, LLC(the “Investor”) pursuant to which the Company has agreed to issue to the Investor shares of the Company’s common stock, $0.001 par value per share (the “Common Stock”) on the terms and conditions set forth in the Investment Agreement. Pursuant to the Investment Agreement, the Company also has entered into a Registration Rights Agreement with the Investor (the “Registration Rights Agreement”) pursuant to which the Company agreed, among other things, to register the Registrable Securities (as defined in the Registration Rights Agreement), including the shares of Common Stock issued or issuable under the Investment Agreement under the Securities Act of 1933, as amended (the “1933 Act”). In connection with the Company’s obligations under the Registration Rights Agreement, on    , 20__, the Company filed a Registration Statement on Form S- ___ (File No. __-________) (the “Registration Statement”) with the Securities and Exchange Commission (the “SEC”) relating to the Registrable Securities which names the Investor as a selling shareholder thereunder.

In connection with the foregoing, we advise you that a member of the SEC's  staff has  advised  us by telephone that the SEC has entered an order declaring the Registration Statement effective under  the 1933 Act at on  , 20 and we have no knowledge, after telephonic inquiry of a member of the SEC's staff, that any stop order suspending its effectiveness has been issued or that any proceedings for that purpose are pending before, or threatened by, the SEC and  the  Registrable Securities are available for sale under the 1933 Act pursuant to the Registration Statement

 

 

 

 

Very truly yours,

 

 

 

[Company Counsel]

27

 

EXHIBIT C
FORM OF PUT NOTICE

 

 

Date:

 

RE: Put Notice Number

 

 

Dear Mr./Ms.__________,

 

This is to inform you that as of today, Applife Digital Solutions, Inc., a _______ corporation (the “Company”), hereby elects to exercise its right pursuant to the Equity Financing Agreement to require GHS Investments LLC to purchase shares of its common stock. The Company hereby certifies that:

 

The amount of this put is $. 

 

 

The Pricing Period runs from ________ until _______________. The Purchase Price is: $  

The number of Put Shares Due: . 

 

The current number of shares of common stock issued and outstanding is: _________________. The number of shares currently available for issuance on the S-1 is: . 

 

 

Regards,

 

Applife Digital Solutions, Inc.,

 

By: __________________________________ Name:

Title:

28

 

 

 

EXHIBIT D

 

PUT SETTLEMENT SHEET

 

Date: ________________ Dear Mr. ________,

Pursuant to the Put given by Applife Digital Solutions, Inc., to GHS Investments LLC (“GHS”) on

_________________ 201_, we are now submitting the amount of common shares for you to issue to GHS.

 

 

Please have a certificate bearing no restrictive legend totaling immediately and send via DWAC to the following account:

 

[INSERT]

 

If not DWAC eligible, please send FedEx Priority Overnight to:

 

[INSERT ADDRESS]

__________ shares issued to GHS

 

 

Once these shares are received by us, we will have the funds wired to the Company. Regards,

GHS INVESTMENTS LLC

 

 

By: _________________________________ Name:

Title

29EX-10.1

 Exhibit 10.1 

AMENDED AND RESTATED ADVISORY AGREEMENT 

BY AND AMONG 
 RODIN
INCOME TRUST, INC., 
 RODIN INCOME TRUST OPERATING PARTNERSHIP, L.P., 

RODIN INCOME ADVISORS, LLC, 

CANTOR FITZGERALD INVESTORS, LLC 

AND 
 RODIN INCOME TRUST
OP HOLDINGS, LLC 

 TABLE OF CONTENTS 

 

							
	 ARTICLE 1 DEFINITIONS
	  	 	1	 
		
	 ARTICLE 2 APPOINTMENT
	  	 	6	 
		
	 ARTICLE 3 DUTIES OF THE ADVISOR
	  	 	6	 
			
	3.01	  	 Offering Services
	  	 	6	 
	3.02	  	 Acquisition Services
	  	 	6	 
	3.03	  	 Asset Management Services
	  	 	7	 
	3.04	  	 Accounting and Other Administrative Services
	  	 	7	 
	3.05	  	 Stockholder Services
	  	 	8	 
	3.06	  	 Financing Services
	  	 	8	 
	3.07	  	 Disposition Services
	  	 	8	 
		
	 ARTICLE 4 AUTHORITY OF ADVISOR
	  	 	9	 
			
	4.01	  	 Powers of the Advisor
	  	 	9	 
	4.02	  	 Approval by the Board
	  	 	9	 
	4.03	  	 Modification or Revocation of Authority of Advisor
	  	 	9	 
		
	 ARTICLE 5 BANK ACCOUNTS
	  	 	9	 
		
	 ARTICLE 6 RECORDS AND ACCESS
	  	 	9	 
		
	 ARTICLE 7 LIMITATION ON ACTIVITIES
	  	 	10	 
		
	 ARTICLE 8 FEES
	  	 	10	 
			
	8.01	  	 Origination Fees
	  	 	10	 
	8.02	  	 Asset Management Fees
	  	 	10	 
	8.03	  	 Disposition Fees
	  	 	10	 
	8.04	  	 Operating Partnership Interests
	  	 	11	 
	8.05	  	 Payment in Shares
	  	 	11	 
		
	 ARTICLE 9 EXPENSES
	  	 	11	 
			
	9.01	  	 General
	  	 	11	 
	9.02	  	 Initial Organization and Offering Expenses
	  	 	12	 
		
	 ARTICLE 10 OTHER SERVICES
	  	 	13	 
		
	 ARTICLE 11 VOTING AGREEMENT
	  	 	14	 
		
	 ARTICLE 12 RELATIONSHIP OF ADVISOR AND COMPANY; OTHER ACTIVITIES OF THE
ADVISOR
	  	 	14	 

  
 i 

							
	12.01	  	 Relationship
	  	 	14	 
	12.02	  	 Time Commitment
	  	 	14	 
	12.03	  	 Investment Opportunities and Allocation
	  	 	14	 
		
	 ARTICLE 13 THE RODIN NAME
	  	 	14	 
		
	 ARTICLE 14 TERM AND TERMINATION OF THE AGREEMENT
	  	 	15	 
			
	14.01	  	 Term
	  	 	15	 
	14.02	  	 Termination by the Parties
	  	 	15	 
	14.03	  	 Payments on Termination and Survival of Certain Rights and Obligations
	  	 	15	 
		
	 ARTICLE 15 ASSIGNMENT
	  	 	16	 
		
	 ARTICLE 16 INDEMNIFICATION AND LIMITATION OF LIABILITY
	  	 	16	 
			
	16.01	  	 Indemnification
	  	 	16	 
	16.02	  	 Limitation on Indemnification
	  	 	16	 
	16.03	  	 Limitation on Payment of Expenses
	  	 	17	 
	16.04	  	 Indemnification by Advisor
	  	 	17	 
		
	 ARTICLE 17 NON-SOLICITATION
	  	 	18	 
		
	 ARTICLE 18 MISCELLANEOUS
	  	 	18	 
			
	18.01	  	 Notices
	  	 	18	 
	18.02	  	 Modification
	  	 	18	 
	18.03	  	 Severability
	  	 	18	 
	18.04	  	 Construction
	  	 	18	 
	18.05	  	 Entire Agreement
	  	 	18	 
	18.06	  	 Waiver
	  	 	19	 
	18.07	  	 Interpretation
	  	 	19	 
	18.08	  	 Headings
	  	 	19	 
	18.09	  	 Counterparts
	  	 	19	 

  
 ii 

 AMENDED AND RESTATED ADVISORY AGREEMENT 

THIS AMENDED AND RESTATED ADVISORY AGREEMENT (this “Agreement”), dated as of the 28th day of September, 2018 (the “Effective Date”), is entered into by and among Rodin Income Trust, Inc., a Maryland corporation (the “Company”), Rodin
Income Trust Operating Partnership, L.P., a Delaware limited partnership (the “Operating Partnership”), Rodin Income Advisors, LLC, a Delaware limited liability company (the “Advisor”) and, solely with
respect to Article 13 and Section 9.03, Cantor Fitzgerald Investors, LLC, a Delaware limited liability company (the “Sponsor”), and, solely with respect to
Section 9.03, Rodin Income Trust OP Holdings, LLC, a Delaware limited liability company (the “Special Unit Holder”). Capitalized terms used herein shall have the meanings ascribed to them in
Article 1 below. 
 W I T N E S S E T H 

WHEREAS, the Company intends to qualify as a REIT and intends to invest its funds in investments permitted by the terms of Sections 856
through 860 of the Code; 
 WHEREAS, the Company is the general partner of the Operating Partnership and intends to conduct all of its
business and make all or substantially all Investments through the Operating Partnership; 
 WHEREAS, the Company and the Operating
Partnership desire to avail themselves of the knowledge, experience, sources of information, advice, assistance and certain facilities available to the Advisor and to have the Advisor undertake the duties and responsibilities set forth herein, on
behalf of, and subject to the supervision of, the Board of the Company, all as provided herein; and 
 WHEREAS, the Advisor is willing to
undertake to render such services, subject to the supervision of the Board, on the terms and conditions hereinafter set forth. 
 NOW,
THEREFORE, in consideration of the foregoing and of the mutual covenants and agreements contained herein, the parties hereto agree as follows: 

ARTICLE 1 
 DEFINITIONS

 As used in this Agreement, the following terms shall have the meanings specified below: 

Acquisition Expenses means any and all expenses, excluding Origination Fees, incurred by the Company, the Operating Partnership,
the Advisor or any of their Affiliates in connection with the selection, evaluation, acquisition, origination or development of any Investments, whether or not acquired or originated, as applicable, including, without limitation, legal fees and
expenses, travel and communications expenses, costs of appraisals, surveys and environmental site assessments, nonrefundable option payments on properties or other investments not acquired, accounting fees and expenses, title insurance premiums, and
the costs of performing due diligence. 
 Advisor means: (i) Rodin Income Advisors, LLC, a Delaware limited liability
company; or (ii) any successor advisor to the Company. 
 Affiliate or Affiliated means with respect to any
Person: (i) any Person directly or indirectly owning, controlling or holding, with the power to vote, ten percent or more of the outstanding voting securities of such other Person; (ii) any Person ten percent or more of whose outstanding
voting securities are directly or indirectly owned, controlled or held, with the power to vote, by such other Person; (iii) any Person directly or indirectly controlling, controlled by or under common control with such other Person;
(iv) any executive officer, director, trustee or general partner of such other Person; and (v) any legal entity for which such Person acts as an executive officer, director, trustee or general partner. An entity shall not be deemed to
control or be under common control with a program sponsored by the Sponsor unless (A) the entity owns ten percent or more of the voting equity interests of such program or (B) a majority of the Board (or equivalent governing body) of such
program is composed of Affiliates of the entity. 
 Asset Management Fee means the fees payable to the Advisor pursuant to
Section 8.02. 

 Average Invested Assets means, for a specified period, the average of the
aggregate book value of the assets of the Company invested, directly or indirectly, in Investments before reserves for depreciation or bad debts or other similar non-cash reserves, computed by taking the
average of such values at the end of each month during such period. 
 Board means the board of directors of the Company, as
of any particular time. 
 Bylaws means the bylaws of the Company, as amended from time to time. 

Cause means with respect to the termination of this Agreement, fraud, criminal conduct, willful misconduct, gross negligence or
breach of fiduciary duty by the Advisor, or a material breach of this Agreement by the Advisor, which has not been cured within thirty (30) days after written notice thereof. 

Charter means the articles of incorporation of the Company, as amended from time to time. 

Class A Shares means the Class A shares of the Company’s common stock, par value
$0.01 per share, offered pursuant to the Offering. 
 Class I Shares means the
Class I shares of the Company’s common stock, par value $0.01 per share, offered pursuant to the Offering. 

Class T Shares means the Class T shares of the Company’s common stock, par value
$0.01 per share, offered pursuant to the Offering. 
 Code means the Internal Revenue Code of 1986, as amended from time to
time, or any successor statute thereto. Reference to any provision of the Code shall mean such provision as in effect from time to time, as the same may be amended, and any successor provision thereto, as interpreted by any applicable
regulations as in effect from time to time. 
 Company means Rodin Income Trust, Inc., a corporation organized under the laws
of the State of Maryland. 
 Contract Sales Price means the total consideration received by the Company for the sale of an
Investment. 
 Cost of Investments means the sum of: (i) with respect to the acquisition or origination of a
Property, Loan or other permitted investment to be wholly owned, directly or indirectly, by the Company, the amount actually paid or allocated to fund the acquisition, origination, development, construction or improvement of the Property, Loan or
other permitted investment, inclusive of expenses associated with such Property, Loan or other permitted investment and the amount of any debt associated with, or used to fund the investment in, such Property, Loan or other permitted investment; and
(ii) with respect to the acquisition or origination of a Property, Loan or other permitted investment through any Joint Venture, the portion of the amount actually paid or allocated to fund the acquisition, origination, development,
construction or improvement of the Property, Loan or other permitted investment, inclusive of expenses associated with such Property, Loan or other permitted investment and expenses of the Joint Venture, plus the amount of any debt associated with,
or used to fund the investment in, such Property, Loan or other permitted investment that is attributable to the Company’s investment in such Joint Venture. 

Dealer Manager means Cantor Fitzgerald & Co., a New York general partnership, or such other Person or entity selected
by the Board to act as dealer manager for the Offering. 
 Disposition Fee means the fees payable to the Advisor pursuant to
Section 8.03. 
 Distribution means any distributions of money or other property by the Company to
Stockholders, including distributions that may constitute a return of capital for federal income tax purposes. 
 Distribution
Fee has the meaning set forth in the Charter. 
 Excess Amount has the meaning set forth in
Section 9.03. 

  
 2 

 Expense Year has the meaning set forth in
Section 9.03. 
 FINRA means the Financial Industry Regulatory Authority, Inc. 

GAAP means generally accepted accounting principles as in effect in the United States of America from time to time. 

Good Reason means either: (i) any failure by the Company or the Operating Partnership to obtain a satisfactory
agreement from any successor to the Company or the Operating Partnership to assume and agree to perform the Company’s or the Operating Partnership’s obligations under this Agreement; or (ii) any material breach of this Agreement of
any nature whatsoever by the Company or the Operating Partnership. 
 Gross Proceeds means the aggregate purchase price of all
Shares sold for the account of the Company through an Offering, without deduction for Organization and Offering Expenses, and not including Shares sold pursuant to the Company’s distribution reinvestment plan. 

Independent Appraisers has the meaning set forth in the Charter. 

Independent Directors has the meaning set forth in the Charter. 

Initial Public Offering means the initial public offering of Shares registered on Registration Statement No. 333-221814 on Form S-11. 

Investments means any investments by the Company or the Operating Partnership in Properties, Loans and all other permitted
investments in which the Company or the Operating Partnership may acquire an interest, either directly or indirectly, including through ownership interests in a Joint Venture, pursuant to its Charter, Bylaws or operating partnership agreement, as
applicable, and the investment objectives and policies adopted by the Board from time to time, other than short-term investments acquired for purposes of cash management. 

Joint Venture means any joint venture, limited liability company, partnership or other entity arrangements in which the Company
or any of its subsidiaries is a co-venturer, member or partner established to acquire or hold Investments. 

Listing means the listing of the Shares on a national securities exchange. Upon such Listing, the Shares shall be deemed
“Listed.” 
 Loans means mortgage loans and other types of debt or debt-like investments made by the Company or the
Operating Partnership, either directly or indirectly, including through ownership interests in a Joint Venture, including, without limitation, mezzanine loans, B-Notes, bridge loans, convertible debt,
wraparound mortgage loans, construction mortgage loans, certain preferred equity interests, loans on leasehold interests, and participations in such loans. 

NASAA REIT Guidelines means the Statement of Policy Regarding Real Estate Investment Trusts published by the North American
Securities Administrators Association as in effect on the Effective Date. 
 NAV means the Company’s net asset value,
calculated on a quarterly basis pursuant to the Company’s Valuation Guidelines. 
 Net Income means, for any period, the
Company’s total revenues applicable to such period, less the total expenses applicable to such period excluding additions to reserves for depreciation, bad debts or other similar non-cash reserves;
provided, however, Net Income for purposes of calculating total allowable Operating Expenses (as defined herein) shall exclude the gain from the sale of the Company’s assets. 

Offering means any offering of Shares that is registered with the SEC, excluding Shares offered under any employee benefit plan.

  
 3 

 Operating Expenses means all costs and expenses paid or incurred by the
Company, as determined under GAAP, that in any way are related to the operation of the Company or its business, including asset management fees paid to the Advisor, but excluding: (i) the expenses of raising capital such as Organization
and Offering Expenses, legal, audit, accounting, underwriting, brokerage, listing, registration, and other fees, printing and other such expenses and taxes incurred in connection with the issuance, distribution, transfer, registration and Listing;
(ii) interest payments; (iii) taxes; (iv) non-cash expenditures such as depreciation, amortization, and bad debt reserves; (v) incentive fees paid in compliance with the NASAA REIT
Guidelines; and (vi) acquisition fees, Acquisition Expenses, Disposition Fees on the sale of real property and other fees and expenses connected with the acquisition, financing, origination, disposition and ownership of real estate interests,
loans or other property (other than Disposition Fees on the sale of assets other than real property), including the costs of foreclosure, insurance premiums, legal services, maintenance, repair, and improvement of property. The definition of
“Operating Expenses” set forth above is intended to encompass only those expenses which are required to be treated as “Total Operating Expenses” under the NASAA REIT Guidelines. As a result, and notwithstanding the definition set
forth above, any expense of the Company which is not part of Total Operating Expenses under the NASAA REIT Guidelines shall not be treated as part of “Operating Expenses” for purposes hereof. 

Operating Partnership means Rodin Income Trust Operating Partnership, L.P., a Delaware limited partnership formed to own and
operate Investments on behalf of the Company. 
 Operating Partnership Agreement means the limited partnership agreement by
and among the Company, the Sponsor and Rodin Income Trust OP Holdings, LLC, as amended. 
 OP Units means the units of limited
partnership interest in the Operating Partnership 
 Organization and Offering Expenses means any and all costs and expenses
incurred by or on behalf of the Company and to be paid from the assets of the Company in connection with the formation of the Company and the qualification and registration of an Offering, and the marketing and distribution of Shares, including,
without limitation, total underwriting and brokerage discounts and commissions (including fees of the underwriters’attorneys), expenses for printing, preparing and amending registration statements or supplementing prospectuses, mailing and
distributing costs, salaries of employees while engaged in sales activities, telephone and other telecommunications costs, all advertising and marketing expenses, charges of transfer agents, registrars, trustees, escrow holders, depositories and
experts and fees, expenses and taxes related to the filing, registration and qualification of the sale of the Shares under federal and state laws, including taxes and fees and accountants’ and attorneys’ fees, bona-fide due diligence
expenses of broker-dealers and expenses incurred by the Advisor for administrative services related to the issuance of the Shares. 

Origination Fees means the fees payable to the Advisor pursuant to Section 8.01 plus all other fees
and commissions, excluding Acquisition Expenses, paid by any Person to any other Person in connection with originating any mortgages or Loans for any Property by the Company. 

Person means an individual, corporation, partnership, estate, trust (including a trust qualified under Section 401(a) or
501(c)(17) of the Code), a portion of a trust permanently set aside for or to be used exclusively for the purposes described in Section 642(c) of the Code, association, private foundation within the meaning of Section 509(a) of the Code,
joint stock company or other entity, or any government or any agency or political subdivision thereof, and also includes a group as that term is used for purposes of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended. 

Property means any real property or properties transferred or conveyed to the Company or the Operating Partnership, either
directly or indirectly, including through ownership interests in a Joint Venture. 
 Property Manager means an entity that has
been retained to perform and carry out property management services at one or more of the Properties, excluding persons, entities or independent contractors retained or hired to perform facility management or other services or tasks at a particular
Property, the costs for which are passed through to and ultimately paid by the tenant at such Property. 
 Prospectus means
the Company’s final prospectus for any public offering within the meaning of Section 2(10) of the Securities Act of 1933, as amended. 

Quarterly Statement has the meaning set forth in Section 9.03. 

Registration Statement means the registration statement filed by the Company with the SEC on Form
S-11 (Reg. No. 333-221814), as amended from time to time, in connection with the Initial Public Offering. 

REIT means a “real estate investment trust” under Sections 856 through 860 of the Code. 

  
 4 

 Sale means (i) any transaction or series of transactions whereby:
(A) the Company or the Operating Partnership, directly or indirectly (except as described in other subsections of this definition), sells, grants, transfers, conveys or relinquishes its ownership of any Investment or portion thereof, including
the lease of any Property consisting of a building only, and including any event with respect to any Investment which gives rise to a significant amount of insurance proceeds or condemnation awards, and including the issuance by one of the
Company’s subsidiaries of any asset backed securities or collateralized debt obligations as part of a securitization transaction; (B) the Company or the Operating Partnership, directly or indirectly (except as described in other
subsections of this definition), sells, grants, transfers, conveys or relinquishes its ownership of all or substantially all of the interest of the Company or the Operating Partnership in any Joint Venture in which it is a co-venturer or partner; (C) any Joint Venture in which the Company or the Operating Partnership is a co-venturer or partner directly or indirectly (except as described in
other subsections of this definition) sells, grants, transfers, conveys or relinquishes its ownership of any Investment or portion thereof, including any event with respect to any Investment which gives rise to a significant amount of insurance
proceeds or condemnation awards, and including the issuance by such a Joint Venture or one of its subsidiaries of any asset backed securities or collateralized debt obligations as part of a securitization transaction; or (D) the Company
directly or indirectly (except as described in other subsections of this definition), sells, grants, conveys or relinquishes its interest in any Investment or portion thereof, including any payments thereunder or in satisfaction thereof (other than
regularly scheduled interest payments) or any amounts owed pursuant to such Investment, and including any event with respect to any Investment which gives rise to a significant amount of insurance proceeds or similar awards; or (E) the Company
directly or indirectly (except as described in other subsections of this definition) sells, grants, transfers, conveys or relinquishes its ownership of any other asset not previously described in this definition or any portion thereof, but
(ii) not including any transaction or series of transactions specified in clause (i) (A) through (E) above in which the proceeds of such transaction or series of transactions are reinvested by the Company in one or more assets within 180
days thereafter. 
 SEC means the United States Securities and Exchange Commission. 

Securities means any Shares, any other stock, shares or other evidences of equity or beneficial or other interests, voting trust
certificates, bonds, debentures, notes or other evidences of indebtedness, secured or unsecured, convertible, subordinated or otherwise, or in general any instruments commonly known as “securities” or any certificates of interest, shares
or participations in, temporary or interim certificates for, receipts for, guarantees of, or warrants, options or rights to subscribe to, purchase or acquire, any of the foregoing. 

Selling Commissions has the meaning set forth in the Charter. 

Shares means collectively, the Class A Shares, Class T Shares and Class I Shares. 

Special OP Units means the separate series of limited partnership interests issued in accordance with
Section 8.04. 
 Special Unit Holder means Rodin Income Trust OP Holdings, LLC, a Delaware
limited liability company. 
 Sponsor means Cantor Fitzgerald Investors, LLC, a Delaware limited liability company. 

Stockholders means the registered holders of the Shares. 

Termination Date means the date of termination of the Agreement determined in accordance with
Article 14 hereof. 
 Unreimbursed Operating Expenses has the meaning set forth in
Section 9.03. 
 Valuation Guidelines means the valuation guidelines adopted by the Board, as amended from time to time.

 2%/25% Guidelines means the requirement pursuant to the NASAA REIT Guidelines that, in any period of four consecutive
fiscal quarters, total Operating Expenses not exceed the greater of 2.0% of the Company’s Average Invested Assets during such 12-month period or 25.0% of the Company’s Net Income over the same 12-month period. 

  
 5 

 ARTICLE 2 

APPOINTMENT 
 The Company
and the Operating Partnership hereby appoint the Advisor to serve as their advisor and asset manager subject to the terms and upon the conditions set forth in this Agreement, and the Advisor hereby accepts such appointment. 

ARTICLE 3 
 DUTIES OF
THE ADVISOR 
 The Advisor is responsible for managing, operating, directing and supervising the operations and administration of the
Company and its assets. The Advisor undertakes to use its commercially reasonable efforts to present to the Company and the Operating Partnership potential investment opportunities, to make investment decisions on behalf of the Company subject
to the limitations in the Company’s Charter, the direction and oversight of the Board and Section 4.03 hereof, and to provide the Company with a continuing and suitable investment program consistent with the investment
objectives and policies of the Company as determined and adopted from time to time by the Board. Subject to the limitations set forth in this Agreement, including Article 4 hereof, and the continuing and exclusive
authority of the Board over the management of the Company, the Advisor shall, either directly or by engaging an Affiliate or third party, perform the following duties at the request of the Company: 

3.01 Offering Services. The Advisor shall manage and supervise: 

(i) Development of the Initial Public Offering and any subsequent or simultaneous Offering approved by the Board, including the
determination of the specific terms of the securities to be offered by the Company, preparation of all offering and related documents, and obtaining all required regulatory approvals of such documents; 

(ii) Along with the Dealer Manager, approval of the participating broker-dealers and negotiation of the related selling
agreements; 
 (iii) Coordination of the due diligence process relating to participating broker-dealers and their review of
the Registration Statement and other Offering and Company documents; 
 (iv) Preparation and approval of all marketing
materials contemplated to be used by the Dealer Manager or others relating to the Offering; 
 (v) Along with the Dealer
Manager, negotiation and coordination with the transfer agent for the receipt, collection, processing and acceptance of subscription agreements, commissions, and other administrative support functions; 

(vi) Creation and implementation of various technology and electronic communications related to the Offering; and 

(vii) All other services related to the Offering, other than services that (a) are to be performed by the Dealer Manager,
(b) the Company elects to perform directly or (c) would require the Advisor to register as a broker-dealer with the SEC, FINRA or any state. 

3.02 Acquisition Services. 

The Advisor shall: 

(i) Serve as the Company’s investment and financial advisor and obtain certain market research and economic and
statistical data in connection with the Company’s Investments and investment objectives and policies; 
 (ii) Subject to
Article 4 hereof and the investment objectives and policies of the Company: (a) locate, analyze and select potential Investments; (b) structure and negotiate the terms and conditions of transactions pursuant
to which the Investments will be made; and (c) acquire Investments on behalf of the Company; 
 (iii) Oversee the due
diligence process related to prospective investments; 
 (iv) Prepare reports regarding prospective investments which include
recommendations and supporting documentation necessary for the Board to evaluate the prospective investments; 

  
 6 

 (v) Obtain reports (which may be prepared by the Advisor or its Affiliates),
where appropriate, concerning the value of prospective investments of the Company; and 
 (vi) Negotiate and execute approved
Investments and other transactions. 
 3.03 Asset Management Services. 

The Advisor shall: 

(i) Investigate, select, and, on behalf of the Company, engage and conduct business with such Persons as the Advisor deems
necessary to the proper performance of its obligations hereunder, including but not limited to consultants, accountants, lenders, technical advisors, attorneys, brokers, underwriters, corporate fiduciaries, escrow agents, depositaries, custodians,
agents for collection, insurers, insurance agents, developers, construction companies, Property Managers and any and all Persons acting in any other capacity deemed by the Advisor necessary or desirable for the performance of any of the foregoing
services; 
 (ii) Monitor applicable markets and obtain reports (which may be prepared by the Advisor or its Affiliates)
where appropriate, concerning the value of Investments of the Company; 
 (iii) Monitor and evaluate the performance of
Investments of the Company, provide daily management services to the Company and perform and supervise the various management and operational functions related to the Company’s Investments; 

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

(v) Oversee the performance by the Property Managers of their duties, including collection and proper deposits of rental
payments and payment of Property expenses and maintenance; 
 (vi) Conduct periodic
on-site property visits to some or all (as the Advisor deems reasonably necessary) of the Properties to inspect the physical condition of the Properties and to evaluate the performance of the Property
Managers; 
 (vii) Review, analyze and comment upon the operating budgets, capital budgets and leasing plans prepared and
submitted by each Property Manager and aggregate these property budgets into the Company’s overall budget; 
 (viii)
Coordinate and manage relationships between the Company and any Joint Venture partners; 
 (ix) Provide financial and
operational planning services and investment portfolio management functions; 
 (x) Assist the Board in the development,
oversight, implementation and coordination of the Company’s NAV procedures; 
 (xi) Provide information in connection
with the Company’s Properties and Investments to the Independent Appraisers and other parties involved in determining the NAV and obtain market quotations or conduct fair valuation determinations concerning the value of Investments; and 

(xii) Monitor each Independent Appraiser’s valuation process to ensure that it complies with the Valuation Guidelines.

 3.04 Accounting and Other Administrative Services. 

The Advisor shall: 

(i) Manage and perform the various administrative functions necessary for the management of the
day-to-day operations of the Company; 
 (ii)
From time-to-time, or at any time reasonably requested by the Board, make reports to the Board on the Advisor’s performance of services to the Company under this
Agreement; 
 (iii) Make reports to the Board, at least annually, of the allocation of Investments that have been allocated
by the Sponsor to the Company and any other programs advised, sponsored or organized by the Sponsor or its Affiliates; 

(iv) Coordinate with the Company’s independent auditors to prepare and deliver to the Company’s audit committee an
annual report covering the Advisor’s compliance with certain material aspects of this Agreement; 

  
 7 

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

(vi) Provide financial and operational planning services and portfolio management functions; 

(vii) Maintain accounting data and any other information concerning the activities of the Company as shall be needed to prepare
and file all periodic financial reports and returns required to be filed with the SEC and any other regulatory agency, including annual financial statements; 

(viii) Maintain all appropriate books and records of the Company; 

(ix) Oversee tax and compliance services and risk management services and coordinate with appropriate third parties, including
independent accountants and other consultants, on related tax matters; 
 (x) Supervise the performance of such ministerial
and administrative functions as may be necessary in connection with the daily operations of the Company; 
 (xi) Provide the
Company with all necessary cash management services; 
 (xii) Manage and coordinate with the transfer agent the distribution
process and payments to Stockholders; 
 (xiii) Consult with the officers of the Company and the Board, and assist in
evaluating and obtaining adequate insurance coverage based upon risk management determinations; 
 (xiv) Provide the officers
of the Company and the Board with timely updates related to the overall regulatory environment affecting the Company, as well as managing compliance with such matters; 

(xv) Consult with the officers of the Company and the Board relating to the corporate governance structure and appropriate
policies and procedures related thereto; and 
 (xvi) Oversee all reporting, record keeping, internal controls and similar
matters in a manner to allow the Company to comply with applicable law including the Sarbanes-Oxley Act of 2002. 
 3.05 Stockholder
Services. 
 The Advisor shall: 

(i) Manage communications with Stockholders, including answering phone calls, preparing and sending written and electronic
reports and other communications; and 
 (ii) Establish technology infrastructure to assist in providing Stockholder support
and service. 
 3.06 Financing Services. 

The Advisor shall: 

(i) Identify and evaluate potential financing and refinancing sources, engaging a third-party broker if necessary; 

(ii) Negotiate terms, arrange and execute financing agreements; 

(iii) Manage relationships between the Company and its lenders; and 

(iv) Monitor and oversee the service of the Company’s debt facilities and other borrowings. 

3.07 Disposition Services. 

The Advisor shall: 

(i) Consult with the Board and provide assistance with the evaluation and approval of potential asset dispositions, sales or
other liquidity events; and 
 (ii) Structure and negotiate the terms and conditions of transactions pursuant to which
Investments may be sold. 

  
 8 

 ARTICLE 4 

AUTHORITY OF ADVISOR 

4.01 Powers of the Advisor. Subject to the express limitations set forth in this Agreement, any restrictions imposed by law, rule or
regulation and the continuing and exclusive authority of the Board over the management of the Company, the power to direct the management, operation and policies of the Company, including making, financing and disposing of Investments, and the
performance of those services described in Article 3 hereof, shall be vested in the Advisor, which shall have the power by itself and shall be authorized and empowered on behalf and in the name of the Company to carry out
any and all of the objectives and purposes of the Company and to perform all acts and enter into and perform all contracts and other undertakings that it may in its sole discretion deem necessary, advisable or incidental thereto to perform its
obligations under this Agreement. The Advisor shall have the power to delegate all or any part of its rights and powers to manage and control the business and affairs of the Company to such officers, employees, Affiliates, agents and
representatives of the Advisor or the Company as it may deem appropriate. Any authority delegated by the Advisor to any other Person shall be subject to the limitations on the rights and powers of the Advisor specifically set forth in this
Agreement or the Charter. 
 4.02 Approval by the Board. Notwithstanding the foregoing, the Advisor may not take any action on behalf
of the Company without the prior approval of the Board or duly authorized committees thereof if the Charter or Maryland General Corporation Law require the prior approval of the Board. If the Board or a committee of the Board must approve a
proposed investment, financing or disposition or chooses to do so, the Advisor will deliver to the Board or committee, as applicable, all documents required by it to evaluate such investment, financing or disposition. 

4.03 Modification or Revocation of Authority of Advisor. The Board may, at any time upon the giving of notice to the Advisor, modify or
revoke the authority or approvals set forth in Article 3 and this Article 4; provided, however, that such modification or revocation shall be effective upon receipt by the Advisor and
shall not be applicable to investment transactions to which the Advisor has committed the Company prior to the date of receipt by the Advisor of such notification. 

ARTICLE 5 
 BANK
ACCOUNTS 
 The Advisor may establish and maintain one or more bank accounts in the name of the Company and the Operating Partnership
and may collect and deposit into any such account or accounts, and disburse from any such account or accounts, any money on behalf of the Company or the Operating Partnership, under such terms and conditions as the Board may approve, provided that
no funds shall be commingled with the funds of the Advisor. The Advisor shall from time to time render appropriate accountings of such collections and payments to the Board and the independent auditors of the Company. 

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

  
 9 

 ARTICLE 7 

LIMITATION ON ACTIVITIES 

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

ARTICLE 8 
 FEES

 8.01 Origination Fees. As compensation for the investigation, selection, sourcing and origination of commercial real
estate-related Loans, the Company shall pay an Origination Fee to the Advisor or its Affiliates for each such Loan but only if and to the extent there is a corresponding fee paid by the borrower to the Company. With respect to the origination of a
Loan to be wholly owned, directly or indirectly, by the Company, the Origination Fee payable to the Advisor shall be equal to up to one percent (1.0%) of the amount funded by the Company to originate the Loan. With respect to the origination of a
Loan through any Joint Venture in which the Company or the Operating Partnership is, directly or indirectly, a partner, the Origination Fee payable to the Advisor or its Affiliates shall be equal to an amount of one percent (1.0%) of the portion of
the amount, funded or allocated, inclusive of the Acquisition Expenses associated with such Loan, and the amount of any debt associated with, or used to fund the Loan in, such Loan that is attributable to the Company’s investment in such Joint
Venture. Notwithstanding anything herein to the contrary, the payment of Origination Fees by the Company shall be subject to the limitations on acquisition fees contained in (and defined in) the Charter. 

8.02 Asset Management Fees. The Company shall pay the Advisor or its Affiliates as compensation for the services described in
Section 3.03 hereof a monthly fee (the “Asset Management Fee”) in an amount equal to one-twelfth of 1.25% of the sum of the Cost of Investments (or in the case
of Loans, the principal amount), less any principal repaid by borrowers on Loans or other debt-related investments (or the Company’s proportionate share thereof in the case of an Investment made through a Joint Venture), as of the end of each
month. For purposes of calculating the Asset Management Fee, the Cost of Investments for each Investment shall be prorated for the number of days during the applicable month that the Company owns such Investment. The Advisor shall submit a monthly
invoice to the Company, accompanied by a computation of the Asset Management Fee for the applicable month. The Asset Management Fee shall generally be payable on the last day of the month that immediately follows the month in which such Asset
Management Fee was earned, or the first business day following the last day of such month. However, payment of the Asset Management Fee may be deferred or waived, in whole or in part (or received in Shares) as to any transaction in the sole
discretion of the Advisor. Any such deferred or waived Asset Management Fees shall be paid to the Advisor or its Affiliates without interest at such subsequent date as the Advisor shall request. 

8.03 Disposition Fees. 

(i) If the Advisor or any of its Affiliates provide a substantial amount of services, and based on the services, as determined
by the Independent Directors, in connection with a Sale (except for the Sale of any Securities that are traded on a national securities exchange), the Advisor or such Affiliate shall receive a Disposition Fee in an amount of 1.0% of the Contract
Sales Price of each Loan, Security (including mortgage-backed securities or collateralized debt obligations issued by a subsidiary of the Company as part of a securitization transaction) or Property sold. 

(ii) The Advisor shall also receive a Disposition Fee upon the maturity, prepayment, workout, modification or extension of a
Loan or other debt-related investment if there is a corresponding fee paid by the borrower to the Company, in which event the Advisor shall receive the lesser of (i) 1.0% of the principal amount of the Loan or debt-related investment prior to
such transaction or (ii) the amount of the fee paid by the borrower to the Company in connection with such transaction. 

  
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 (iii) To the extent the Disposition Fee is paid upon the Sale of any assets
other than real property, such amount shall count against the limit of Operating Expenses required to be treated as “Total Operating Expenses” under the NASAA REIT Guidelines. In addition, the payment of any Disposition Fees by the Company
shall be subject to the limitations contained in the Company’s Charter and in no event shall the Disposition Fee exceed an amount which, when added to the fees paid by the Company to unaffiliated parties in connection with a Sale, equals the
lesser of a competitive real estate commission or 6.0% of the Contract Sales Price. The Advisor shall submit an invoice to the Company following the closing or closings of each disposition, accompanied by a computation of the Disposition
Fee. Generally, the Disposition Fee payable to the Advisor shall be paid at the closing of the transaction upon receipt of the invoice by the Company; provided, however, that such Disposition Fee shall be paid to an Affiliate of
the Advisor that is registered as a FINRA member broker-dealer if applicable laws or regulations prohibit such payment to be made to a Person that is not a FINRA member broker-dealer. However, payment of the Disposition Fee may be deferred or
waived (or accepted in Shares), in whole or in part, as to any transaction in the sole discretion of the Advisor. Any such deferred or waived Disposition Fees shall be paid to the Advisor or its Affiliates without interest at such subsequent
date as the Advisor shall request. 
 8.04 Operating Partnership Interests. An Affiliate of the Advisor has made a capital
contribution of $1,000 to the Operating Partnership in exchange for Special OP Units. The Special OP Units shall be entitled to the distributions provided for, and shall be subject to redemption by the Operating Partnership, in accordance with
the terms of the Operating Partnership Agreement. To the extent distributions to the Special OP Units are not paid from net sales proceeds, such amounts will count against the limit on Operating Expenses. In the event of termination of
this Agreement by the Company for Cause, the Company shall redeem the Special OP Units in exchange for a one-time cash payment to the Advisor’s Affiliate of $1.00. 

8.05 Payment in Shares. In the event the Advisor, in its sole discretion, elects to be paid any of the fees set forth in this
Article 8 in Class I Shares (in lieu of cash payment), the number of Class I Shares shall be equal to (A) the cash amount of such fee; divided by (B) either (i) the then-current offering price (or
the most recent offering price if the Company is not engaged in the offering) of the Class I Shares net of dealer manager fees and selling commissions, or (ii) as of the date the Company publishes a NAV per share, the then-current NAV per
share applicable to Class I Shares. 
 ARTICLE 9 

EXPENSES 
 9.01
General. In addition to the compensation paid to the Advisor pursuant to Article 8 hereof, the Company shall pay directly or reimburse the Advisor or its Affiliates for all of the expenses paid or incurred by the
Advisor or its Affiliates on behalf of the Company or in connection with the services provided to the Company pursuant to this Agreement, including, but not limited to: 

(i) All Organization and Offering Expenses; provided, however, that the Advisor, or an Affiliate of the Advisor,
shall be responsible for the payment of the Company’s Organizational and Offering Expenses to the extent the total amount of such expenses exceeds 15.0% of Gross Proceeds from the Company’s offering; provided that within 60 days after the
end of the month in which an Offering terminates, the Advisor shall reimburse the Company to the extent the Company incurred Organization and Offering Expenses exceeding 15.0% of the Gross Proceeds raised in the completed Offering; 

(ii) Origination Fees and Acquisition Expenses incurred in connection with the selection and acquisition of Investments,
including such expenses incurred related to assets pursued or considered but not ultimately acquired by the Company, provided that, notwithstanding anything herein to the contrary, the payment of Origination Fees and Acquisition Expenses by
the Company shall be subject to the limitations contained in the Company’s Charter; 
 (iii) The actual out-of-pocket cost of goods and services used by the Company and obtained from entities not Affiliated with the Advisor; 

(iv) Interest and other costs for borrowed money or securitization transactions, including discounts, points and other similar
fees; 
 (v) Taxes and assessments on income or Properties, taxes as an expense of doing business and any other taxes
otherwise imposed on the Company and its business, assets or income; 
 (vi) Out-of-pocket costs associated with insurance required in connection with the business of the Company or by its officers and Board; 

  
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 (vii) Expenses of managing, improving, developing, operating and selling
Investments owned, directly or indirectly, by the Company, as well as expenses of other transactions relating to such Investments, including but not limited to prepayments, maturities, workouts and other settlements of Loans and other Investments;

 (viii) All out-of-pocket expenses in
connection with payments to the Board and meetings of the Board and Stockholders; 
 (ix) Personnel and related employment
costs incurred by the Advisor or its Affiliates in performing the services described in Article 3 hereof, including but not limited to reasonable salaries and wages, benefits and overhead of all employees directly involved
in the performance of such services, provided that no reimbursement shall be made for costs of such employees of the Advisor or its Affiliates to the extent that such employees (A) perform services for which the Advisor receives Origination
Fees or Disposition Fees or (B) serve as executive officers of the Company; 
 (x) Out-of-pocket expenses of providing services for and maintaining communications with Stockholders, including the cost of preparation, printing, and mailing annual reports and other Stockholder reports, proxy
statements and other reports required by governmental entities; 
 (xi) Audit, accounting and legal fees, and other fees for
professional services relating to the operations of the Company and all such fees incurred at the request, or on behalf of, the Board or any other committee of the Board; 

(xii) Out-of-pocket costs for the Company to
comply with all applicable laws, regulations and ordinances; 
 (xiii) Expenses connected with payments of Distributions made
or caused to be made by the Company to the Stockholders; 
 (xiv) Expenses of organizing, redomesticating, merging,
liquidating or dissolving the Company or of amending the Charter or the Bylaws; and 
 (xv) All other out-of-pocket costs and expenses incurred by the Advisor or its Affiliates in performing the Advisor’s duties hereunder. 

9.02 Initial Organization and Offering Expenses. 

(i) The Advisor has agreed to pay, on behalf of the Company, all Organization and Offering Expenses (less Selling Commissions
and Distribution Fees) (the “Initial O&O Costs”) through the first anniversary of the date on which the Company satisfies the minimum offering requirement for the Initial Public Offering (the “Escrow Break Anniversary”). 

(ii) The Company shall not be required to reimburse the Advisor for payment of the Initial O&O Costs prior to the Escrow
Break Anniversary. Following the Escrow Break Anniversary, the Company will reimburse the Advisor for payment of the Initial O&O Costs ratably over a 36-month period; provided, however, that the Company
shall not be obligated to pay any amounts that as a result of such payment would cause the aggregate payments for Organization and Offering Expenses (less Selling Commissions and Distribution Fees) paid to the Advisor to exceed 1% of gross offering
proceeds of the Initial Public Offering as of such payment date (the “1% Cap”). Any amounts not reimbursed in any period shall be included in determining any reimbursement for a subsequent period. The Company may, in its sole discretion,
pay amounts to the Advisor in excess of the ratable amount for the Initial O&O Costs; provided that the payment of such amounts is not in excess of the 1% Cap. 

(iii) After the Escrow Break Anniversary, the Advisor, in its sole discretion, may pay some or all of the Organization and
Offering Expenses but is not required to do so. To the extent the Advisor pays such additional Organization and Offering Expenses, the Company will be obligated to reimburse the Advisor subject to the 1% Cap. 

9.03 Timing of and Additional Limitations on Reimbursements. 

(i) Operating Expenses incurred by the Advisor on behalf of the Company and reimbursable pursuant to this Article 9 shall be
reimbursed to the Advisor as set forth herein. The Advisor shall prepare a statement documenting the Operating Expenses of the Company during each quarter (the “Quarterly Statement”) and shall deliver the Quarterly Statement
to the Company within 45 days after the end of each quarter upon receipt of which the Company shall remit payment within 30 days. 

(ii) Commencing upon the earlier of the fourth fiscal quarter after (i) the Company makes an initial Investment or
(ii) six months after commencement of the Initial Public Offering, the following limitation on Operating Expenses shall apply: the Company shall not reimburse the Advisor at the end of any fiscal quarter for Operating Expenses that in the four
consecutive fiscal quarters then ended (the “Expense Year”) exceed (the “Excess Amount”) the greater of 2.0% of Average Invested Assets or 25.0% of Net Income (the “2%/25% Guidelines”) for such year unless the Board
determines that such excess was justified, 

  
 12 

 
based on unusual and nonrecurring factors that the Board deems sufficient. If the Board does not approve such excess as being so justified, any Excess Amount paid to the Advisor during a fiscal
quarter shall be repaid to the Company. If the Board determines such excess was justified, then, within 60 days after the end of any fiscal quarter of the Company for which total reimbursed Operating Expenses for the Expense Year exceed the 2%/25%
Guidelines, the Advisor, at the direction of the Board, shall cause such fact to be disclosed to the Stockholders in writing (or the Company shall disclose such fact to the Stockholders in the next quarterly report of the Company or by filing a
Current Report on Form 8-K with the SEC within 60 days of such quarter end), together with an explanation of the factors the Board considered in determining that such excess expenses were justified. The
Company will ensure that such determination will be reflected in the minutes of the meetings of the Board. All figures used in the foregoing computation shall be determined in accordance with GAAP applied on a consistent basis. 

(iii) In addition to limitation set forth in Section 9.03(ii) above and subject to
Section 9.03(iv) below, any Operating Expenses paid by the Advisor, incurred by the Company, or otherwise not invoiced to the Company, shall not be reimbursement obligations of the Company if such obligation would directly
result in the Company’s NAV per share for any class of Shares for such quarter to be less than $25.00; provided, that the Company may incur and record such obligation to reimburse the Advisor, even if it would result in the Company’s NAV
per share for any class of Shares for such quarter to be less than $25.00, if the Board determines that the reasons for the Company’s NAV to be less than $25.00 were unrelated to the Company’s obligation to reimburse the Advisor for
certain Operating Expenses. 
 (iv) Notwithstanding anything to the contrary, all or a portion of the Operating Expenses that
have not been invoiced to the Company in any Quarterly Statement or reimbursed by the Company for any given quarter (“Unreimbursed Operating Expenses”) may be, in the sole discretion of the Advisor, (a) waived by the
Advisor, (b) subject to Section 9.03(ii) and (iii) above, reimbursed to the Advisor in any subsequent quarter, or (c) reimbursed to the Advisor in connection with a liquidity event or termination of
this Agreement. Any Operating Expenses reimbursed to the Advisor under this Section 9.03(iv) shall be subject to, among other things, the Board approval requirements of Section 9.03(ii). 

In the event of a liquidity event or termination of this Agreement, the Company will reimburse Unreimbursed Operating Expenses
(i) immediately prior to or upon the occurrence of a liquidity event, including (A) a Listing or (B) a merger, consolidation or a sale of substantially all of the Company’s assets or any similar transaction or any transaction
pursuant to which a majority of the Company’s board of directors then in office are replaced or removed, or (ii) upon the termination of this Agreement by the Company or by the Advisor. In each such case, the Company will reimburse the
Advisor after the Company has fully invested the proceeds from the Offering and the Stockholders have received, or are deemed to have received, in the aggregate, cumulative distributions equal to their invested capital plus a 6.5% cumulative, non-compounded annual pre-tax return on such invested capital. 

The Sponsor and the Advisor hereby agree that any reimbursement of the Unreimbursed Operating Expenses to the Advisor pursuant
to this Section 9.03(iv) will be made on a pro rata basis with the reimbursements made pursuant to Section 1.02 of the Reimbursement Agreement among the Company, the Sponsor and the Special Unit Holder, dated as of
May 2, 2018, as amended. The Special Unit Holder agrees to be contractually subordinated to the interests of the Advisor with respect to reimbursement pursuant to this Section 9.03(iv) and, subject to the immediately
preceding sentence, any reimbursement to the Advisor shall be paid to the Advisor prior to the payment of any distributions to the Special Unit Holder pursuant to the terms and conditions of the Agreement of the Limited Partnership of the Operating
Partnership dated May 2, 2018, as amended. 
 ARTICLE 10 

OTHER SERVICES 

Should: (i) the Operating Partnership request that the Advisor or any Affiliate or any manager, officer or employee of the Advisor
or Affiliate render services for the Company other than as set forth in this Agreement; or (ii) there be changes to the regulatory environment in which the Advisor or Company operates that would increase significantly the level of services
performed such that the costs and expenses borne by the Advisor for which the Advisor is not entitled to separate reimbursement for personnel and related employment direct costs and overhead under Article 9 of this
Agreement would increase significantly, such services shall be separately compensated at such rates and in such amounts as are agreed by the Advisor and the Independent Directors, subject to the limitations contained in the Charter, and shall not be
deemed to be services pursuant to the terms of this Agreement. 

  
 13 

 ARTICLE 11 

VOTING AGREEMENT 
 The
Advisor agrees that, with respect to any Shares now or hereinafter owned by it or its Affiliates, none of them will vote or consent on matters submitted to the Stockholders of the Company regarding: (i) the removal of the Advisor or any of
its Affiliates as the Advisor; or (ii) any transaction between the Company and the Advisor or any of its Affiliates. This voting restriction shall survive until such time that the Advisor or any of its Affiliates is no longer serving as
the Advisor. 
 ARTICLE 12 

RELATIONSHIP OF ADVISOR AND COMPANY; 

OTHER ACTIVITIES OF THE ADVISOR 

12.01 Relationship. The Company and the Advisor are not partners or joint venturers with each other, and nothing in this Agreement
shall be construed to make them such partners or joint venturers. Nothing herein contained shall prevent the Advisor from engaging in other activities, including, without limitation, the rendering of advice to other Persons (including other
REITs) and the management of other programs advised, sponsored or organized by the Advisor or its Affiliates. Nor shall this Agreement limit or restrict the right of any manager, director, officer, employee or equityholder of the Advisor or its
Affiliates to engage in any other business or to render services of any kind to any other Person. The Advisor may, with respect to any investment in which the Company is a participant, also render advice and service to each and every other
participant therein. The Advisor shall promptly disclose to the Board the existence of any condition or circumstance, existing or anticipated, of which it has knowledge, that creates or could create a conflict of interest between the Advisor’s
obligations to the Company and its obligations to or its interest in any other Person. 
 12.02 Time Commitment. The Advisor
shall, and shall cause its Affiliates and their respective employees, officers and agents to, devote to the Company such time as shall be reasonably necessary to conduct the business and affairs of the Company in an appropriate manner consistent
with the terms of this Agreement. The Company acknowledges that the Advisor and its Affiliates and their respective employees, officers and agents may also engage in activities unrelated to the Company and may provide services to Persons other
than the Company or any of its Affiliates. 
 12.03 Investment Opportunities and Allocation. The Advisor shall be required to use
commercially reasonable efforts to present a continuing and suitable investment program to the Company that is consistent with the investment policies and objectives of the Company, but neither the Advisor nor any Affiliate of the Advisor shall be
obligated to present any particular Investment opportunity to the Company even if the opportunity is of a character that, if presented to the Company, could be taken by the Company. In the event an Investment opportunity is identified, the
allocation procedures set forth under the caption “Conflicts of Interest—Allocation of Investment Opportunities” in any Prospectus (as may be amended from time to time) shall govern the allocation of the opportunity among the Company,
any of its Affiliates and any investment vehicles sponsored or managed by the Sponsor or any of their Affiliates. 
 ARTICLE 13 

THE RODIN NAME 
 The
Company acknowledges and agrees that the Sponsor and its Affiliates have a proprietary interest in the name “Rodin.” Except upon the express prior written consent of Sponsor, on a case by case basis, which if given, may be withdrawn at any
time in the sole discretion of Sponsor, the Company shall not (and shall cause its Affiliates and each of its and their partners, officers, directors, employees and agents, whether present or future (collectively, “Personnel”) not to): (i)
use, apply for or register in any manner, form or jurisdiction whatsoever any of Sponsor’s or any of Sponsor’s Affiliates’ name(s), trade name(s), logo(s), trademark(s), service mark(s), business, trade or corporate name(s), Internet
domain name(s), social media/username domain(s), or sub-domain name(s), in each case, whether registered or unregistered, or any variations, translations, or transliterations thereof, or any terms confusingly
similar to any of the foregoing, including without limitation, the name “Rodin” (collectively, the “Names and Marks”), or (ii) sublicense the Names and Marks to any third party or grant any third party the right to use the
Names and Marks. 

  
 14 

 The Company acknowledges and agrees (and shall cause its Personnel to acknowledge and agree)
that: (i) Sponsor is and shall remain at all times the sole and exclusive owner of all right, title and interest in and to the Names and Marks and any and all proprietary rights therein and thereto, (ii) nothing contained herein creates,
shall create, nor shall be construed as a grant of, any right, title or interest in or to any Names and Marks or any proprietary rights therein or thereto, (iii) all right, title and interest in and to the Names and Marks is expressly reserved
by Sponsor, and (iv) the Company and its Personnel shall keep the Names and Marks free from all liens, mortgages, or other encumbrances. 

The Company recognizes the value of the goodwill associated with the Names and Marks and the proprietary rights therein and
thereto. Should Sponsor provide its written consent to use the Names and Marks, the Company agrees that (i) any use of the Names and Marks and any goodwill arising therefrom, shall inure solely to the benefit of Sponsor, (ii) it will
use the Names and Marks only in accordance with and subject to Sponsor’s specification, direction and information, and (iii) it shall fully cooperate (and shall ensure that its Personnel fully cooperate) with Sponsor as reasonably required
from time to time by Sponsor to perfect or otherwise secure all rights, title and interest in any and all Names and Marks. 
 Upon
expiration or termination of this Agreement, or upon Sponsor’s withdrawal of any written consent by Sponsor to use the Names and Marks, or if at any time the Company ceases to retain the Advisor or one of its Affiliates to perform advisory
services for the Company: (i) all rights granted to the Company under this Agreement shall immediately terminate and revert to Sponsor, (ii) the Company will immediately and permanently cease all use of the Names and Marks, (iii) the
Company shall immediately change its name and the names of any of its subsidiaries to a name that does not contain the name “Rodin” or any other word or words that might, in the sole discretion of the Sponsor, be susceptible of indication
of some form of relationship between the Company and the Sponsor or any of Sponsor’s Affiliates , and (iv) the Company shall promptly return to Sponsor or, at Sponsor’s option, destroy, at the Company’s expense, all records and
copies of technical, marketing, advertising, sales, and promotional material in its possession bearing the Names and Marks. Consistent with the foregoing, it is specifically recognized that the Sponsor or one or more of its Affiliates has in the
past and may in the future organize, sponsor or otherwise permit to exist other investment vehicles (including vehicles for investment in real estate loans, real estate-related debt securities and other real estate assets) and financial and service
organizations having “Rodin” as a part of their name, all without the need for any consent (and without the right to object thereto) by the Company. The Sponsor shall govern the Company’s use of the name “Rodin” and the
Company’s use of the “Rodin” name will be in strict accordance with any quality standards and specifications that may be established by the Advisor and communicated to Company from time to time. 

ARTICLE 14 
 TERM AND
TERMINATION OF THE AGREEMENT 
 14.01 Term. This Agreement shall have an initial term of one year from the Effective Date and may
be renewed for an unlimited number of successive one-year terms upon mutual consent of the parties. The Company (acting through the Independent Directors) will evaluate the performance of the Advisor
annually before renewing this Agreement, and each such renewal shall be for a term of no more than one year. Any such renewal must be approved by the Independent Directors. 

14.02 Termination by the Parties. This Agreement may be terminated: 

(i) immediately by the Company or the Operating Partnership for Cause or upon the bankruptcy of the Advisor; 

(ii) upon 60 days written notice without Cause and without penalty by a majority of the Independent Directors of the Company or
the Advisor; or 
 (iii) upon 60 days written notice with Good Reason by the Advisor. 

The provisions of Article 13, Section 14.03 and Articles 16
through 18 of this Agreement shall survive termination of this Agreement. 
 14.03 Payments on Termination and Survival of Certain
Rights and Obligations. Payments to the Advisor pursuant to this Section 14.03 shall be subject to the 2%/25% Guidelines to the extent applicable. 

(i) After the Termination Date, the Advisor shall not be entitled to compensation for further services hereunder except it
shall be entitled to receive from the Company or the Operating Partnership within 30 days after the effective date of such termination all unpaid reimbursements of expenses and all earned but unpaid fees payable to the Advisor prior to termination
of this Agreement, subject to the 2%/25% Guidelines to the extent applicable. 

  
 15 

 (ii) The Advisor shall promptly upon termination: 

(a) pay over to the Company and the Operating Partnership all money collected and held for the account of the Company and the
Operating Partnership pursuant to this Agreement, if any, after deducting any accrued compensation and reimbursement for its expenses to which it is then entitled; 

(b) deliver to the Board a full accounting, including a statement showing all payments collected by it and a statement of all
money held by it, covering the period following the date of the last accounting furnished to the Board; 
 (c) deliver to the
Board all assets and documents of the Company then in the custody of the Advisor; and 
 (d) cooperate with the Company to
provide an orderly transition of advisory functions. 
 ARTICLE 15 

ASSIGNMENT 
 This
Agreement may be assigned by the Advisor with the prior approval of a majority of the Board (and with respect to any assignment to an Affiliate, also with the prior approval of a majority of the Independent Directors). The Advisor may assign
any rights to receive fees or other payments under this Agreement without obtaining the approval of the Board. This Agreement shall not be assigned by the Company or the Operating Partnership without the consent of the Advisor, except in the
case of an assignment by the Company or the Operating Partnership to a corporation or other organization that is a successor to all of the assets, rights and obligations of the Company or the Operating Partnership, in which case such successor
organization shall be bound hereunder and by the terms of said assignment in the same manner as the Company and the Operating Partnership are bound by this Agreement. Nothing herein shall be deemed to prohibit or otherwise restrict any
transfers or additional issuances of equity interests in the Advisor nor shall any such transfer or issuance be deemed an assignment for purposes of this Article 15. 

ARTICLE 16 

INDEMNIFICATION AND LIMITATION OF LIABILITY 

16.01 Indemnification. Except as prohibited by the restrictions provided in this Section 16.01,
Section 16.02 and Section 16.03, the Company and the Operating Partnership shall indemnify, defend and hold harmless the Advisor and its Affiliates, including their respective officers, directors,
equity holders, partners and employees, from all liability, claims, damages or losses arising in the performance of their duties hereunder, and related expenses, including reasonable attorneys’ fees, to the extent such liability, claims,
damages or losses and related expenses are not fully reimbursed by insurance. Any indemnification of the Advisor may be made only out of the net assets of the Company and not from Stockholders. 

Notwithstanding the foregoing, the Company shall not indemnify the Advisors or its Affiliates for any loss, liability or expense arising from
or out of an alleged violation of federal or state securities laws by such party unless one or more of the following conditions are met: (i) there has been a successful adjudication on the merits of each count involving alleged securities
law violations as to the particular indemnitee; (ii) such claims have been dismissed with prejudice on the merits by a court of competent jurisdiction as to the particular indemnitee; or (iii) a court of competent jurisdiction approves a
settlement of the claims against a particular indemnitee and finds that indemnification of the settlement and the related costs should be made, and the court considering the request for indemnification has been advised of the position of the SEC and
of the published position of any state securities regulatory authority in which securities of the Company were offered or sold as to indemnification for violations of securities laws. 

16.02 Limitation on Indemnification. Notwithstanding the foregoing, the Company and the Operating Partnership shall not provide
for indemnification of the Advisor or its Affiliates for any liability or loss suffered by any of them, nor shall any of them be held harmless for any loss or liability suffered by the Company, unless all of the following conditions are met: 

(i) The Advisor or its Affiliates have determined, in good faith, that the course of conduct that caused the loss or liability
was in the best interests of the Company and the Operating Partnership. 

  
 16 

 (ii) The Advisor or its Affiliates were acting on behalf of or performing
services for the Company or the Operating Partnership. 
 (iii) Such liability or loss was not the result of negligence or
misconduct by the Advisor or its Affiliates. 
 (iv) Such indemnification or agreement to hold harmless is recoverable only
out of the Company’s net assets and not from the Stockholders. 
 16.03 Limitation on Payment of Expenses. The Company shall pay
or reimburse reasonable legal expenses and other costs incurred by the Advisors or its Affiliates in advance of the final disposition of a proceeding only if (in addition to the procedures required by the Maryland General Corporation Law, as amended
from time to time) all of the following are satisfied: (a) the proceeding relates to acts or omissions with respect to the performance of duties or services on behalf of the Company or the Operating Partnership, (b) the legal
proceeding was initiated by a third party who is not a Stockholder or, if by a Stockholder acting in his or her capacity as such, a court of competent jurisdiction approves such advancement and (c) the Advisor or its Affiliates undertake to
repay the amount paid or reimbursed by the Company or the Operating Partnership, together with the applicable legal rate of interest thereon, if it is ultimately determined that the particular indemnitee is not entitled to indemnification. 

16.04 Indemnification by Advisor. The Advisor shall indemnify and hold harmless the Company and the Operating Partnership from contract
or other liability, claims, damages, taxes or losses and related expenses including attorneys’ fees, to the extent that such liability, claims, damages, taxes or losses and related expenses are not fully reimbursed by insurance and are incurred
by reason of the Advisor’s bad faith, fraud, willful misconduct or gross negligence; provided, however, that the Advisor shall not be held responsible for any action of the Board in following or declining to follow any advice or
recommendation given by the Advisor. 

  
 17 

 ARTICLE 17 

NON-SOLICITATION 

During the period commencing on the Effective Date and ending two years following the Termination Date, the Company shall not, without the
Advisor’s prior written consent, directly or indirectly; (i) solicit or encourage any person to leave the employment or other service of the Advisor or its Affiliates; or (ii) hire, on behalf of the Company or any other person or
entity, any person who has left the employment within the one year period following the termination of that person’s employment with the Advisor or its Affiliates. During the period commencing on the date hereof through and ending two years
following the Termination Date, the Company will not, whether for its own account or for the account of any other Person, intentionally interfere with the relationship of the Advisor or its Affiliates with, or endeavor to entice away from the
Advisor or its Affiliates, any person who during the term of the Agreement is, or during the preceding two-year period, was a tenant, co-investor, co-developer, joint venturer or other customer of the Advisor or its Affiliates. 
 ARTICLE 18 

MISCELLANEOUS 
 18.01
Notices. Any notice, report or other communication required or permitted to be given hereunder shall be in writing unless some other method of giving such notice, report or other communication is required by the Charter, the Bylaws or is
accepted by the party to whom it is given, and shall be given by being delivered by hand or by overnight mail or other overnight delivery service to the addresses set forth herein: 

 

			
	 To the Board, the Company or the Operating Partnership:
	  	 Rodin Income Trust, Inc.

		  	 110 East 59th Street

		  	 New York, New York 10022

		  	 Attn: General Counsel

		
	 To the Advisor:
	  	 Rodin Income Advisors, LLC

		  	 110 East 59th Street

		  	 New York, New York 10022

		  	 Attn: General Counsel

 Either party may at any time give notice in writing to the other party of a change in its address for the
purposes of this Section 18.01. 
 18.02 Modification. This Agreement shall not be changed, modified,
terminated or discharged, in whole or in part, except by an instrument in writing signed by both parties hereto, or their respective successors or permitted assigns. 

18.03 Severability. The provisions of this Agreement are independent of and severable from each other, and no provision shall be
affected or rendered invalid or unenforceable by virtue of the fact that for any reason any other or others of them may be invalid or unenforceable in whole or in part. 

18.04 Construction. The provisions of this Agreement shall be construed and interpreted in accordance with the laws of the State of New
York. 
 18.05 Entire Agreement. This Agreement contains the entire agreement and understanding between the parties hereto with
respect to the subject matter hereof, and supersedes all prior and contemporaneous agreements, understandings, inducements and conditions, express or implied, oral or written, of any nature whatsoever with respect to the subject matter
hereof. The express terms hereof control and supersede any course of performance and/or usage of the trade inconsistent with any of the terms hereof. This Agreement may not be modified or amended other than by an agreement in writing. 

  
 18 

 18.06 Waiver. Neither the failure nor any delay on the part of a party to exercise
any right, remedy, power or privilege under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any right, remedy, power or privilege 

preclude any other or further exercise of the same or of any other right, remedy, power or privilege, nor shall any waiver of any right, remedy, power or
privilege with respect to any occurrence be construed as a waiver of such right, remedy, power or privilege with respect to any other occurrence. No waiver shall be effective unless it is in writing and is signed by the party asserted to have
granted such waiver. 
 18.07 Interpretation. Words used herein regardless of the number and gender specifically used, shall be
deemed and construed to include any other number, singular or plural, and any other gender, masculine, feminine or neuter, as the context requires. 

18.08 Headings. The titles of Articles and Sections contained in this Agreement are for convenience only, and they neither form a part
of this Agreement nor are they to be used in the construction or interpretation hereof. 
 18.09 Counterparts. This Agreement may be
executed in any number of counterparts, each of which shall be deemed to be an original as against any party whose signature appears thereon, and all of which shall together constitute one and the same instrument. This Agreement shall become
binding when one or more counterparts hereof, individually or taken together, shall bear the signatures of all of the parties reflected hereon as the signatories. 

[Signature page follows] 

  
 19 

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

			
	 RODIN INCOME TRUST, INC.

		
	 By:
	 	 /s/ Steven Bisgay

	 Name:
	 	Steven Bisgay
	 Title:
	 	Chief Financial Officer
	
	RODIN INCOME TRUST OPERATING PARTNERSHIP, L.P.,
		
	             By:
	 	 Rodin Income Trust, Inc.,

its General Partner

		
	             By:
	 	 /s/ Steven Bisgay

	             Name:
	 	Steven Bisgay
	             Title
	 	Chief Financial Officer
	
	 RODIN INCOME ADVISORS, LLC

		
	 By:
	 	 /s/ Steven Bisgay

	 Name:
	 	Steven Bisgay
	 Title:
	 	Chief Financial Officer

  

			
	 Solely with respect to Article 13 and Section 9.03:

	
	 CANTOR FITZGERALD INVESTORS, LLC

		
	 By:
	 	 /s/ Steven Bisgay

	 Name:
	 	Steven Bisgay
	 Title:
	 	Chief Financial Officer
	
	 Solely with respect to Section 9.03:

	
	 RODIN INCOME TRUST OP

HOLDINGS, LLC

		
	 By:
	 	 /s/ Steven Bisgay

	 Name:
	 	Steven Bisgay
	 Title:
	 	Chief Financial Officer

 [Signature Page to Rodin Income Trust, Inc.—Amended and Restated Advisory Agreement]

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