Document:

UNTY - 8K 101 Employment Agreement AB

		
			EXHIBIT 10.1
		

		
			 
		

		
			 
		

		
			UNITY BANCORP, INC.
		

		
			EXECUTIVE INCENTIVE RETIREMENT PLAN
		

		
			 
		

		
			PREAMBLE
		

		
			 
		

		
			The purpose of this Unity Bancorp, Inc. Executive Incentive Retirement Plan, established as of October 22, 2015, is to assist Unity Bank in retaining and attracting officers of exceptional ability by providing certain supplemental executive retirement benefits. The Effective Date of the Plan shall be January 1, 2015.
		

		
			 
		

		
			The Plan is intended to be an unfunded, nonqualified deferred compensation plan, maintained for a select group of management or highly compensated employees of the Bank. Neither the Company nor the Bank shall segregate or otherwise identify specific assets to be applied to the purposes of the Plan, nor shall any of them or the Committee established under this Plan be deemed to be a trustee of any amounts to be paid under the Plan. Any liability of the Employer to a Participant with respect to benefits payable under the Plan shall be based solely upon such contractual obligations, if any, as shall be created by the Plan, and shall give rise only to a claim against the general assets of the Company. No such liability shall be deemed to be secured by any pledge or any other encumbrance on any specific property of the Company or the Bank. The Employer shall be the sole source of benefits under the Plan, and any Participant, Beneficiary, or any other person who shall claim the right to any payment or benefit under the Plan shall be entitled to look solely to the Employer for payment of benefits.
		

		
			 
		

		
			Article I 
		

		
			Definitions
		

		
			 
		

		
			The following words and phrases shall have the meanings hereafter ascribed to them. Those words and phrases, which have limited application, are defined in the respective Articles in which such terms appear.
		

		
			 
		

			
	
			
				 1.1.
			“Annual Executive Bonus Matrix” means the annual Bank performance measures established by the Board of Directors for compensation evaluation.

		
			 
		

			
	
			
				 1.2.
			“Bank” means Unity Bank or any successor thereto by merger, consolidation or otherwise by operation of law.

		
			 
		

			
	
			
				 1.3.
			“Beneficiary” means such living person or living persons designated by the Participant in accordance with Article 5 to receive the Deferral Award after his death, or his personal or legal representative, all as herein described and provided. If no Beneficiary is designated by the Participant or if no Beneficiary survives the Participant, the Beneficiary shall be the Participant's estate.

		
			 
		

			
	
			
				 1.4.
			“Board” or “Board of Directors” means the Board of Directors of the Company, as duly constituted from time to time.

		
			 
		

			
	
			
				 1.5.
			“Cause” means (a) an act of fraud, embezzlement or theft by the Participant, the Participant's willful misconduct, inappropriate or unprofessional behavior, which brings material harm to the Employer (as determined by the Employer), breach of fiduciary duty involving personal profit, intentional failure to perform stated duties, willful violation of any law, rule or regulation (other than traffic violations or similar minor offenses, which do not adversely affect the Employer’s reputation or standing in the community), or a material breach of any provision of this Plan, or any other Plan between the Participant, the Company and the Bank. For purposes of this provision, no act or failure to act, on the part of the Participant, shall be considered “willful” unless it is done, or omitted to be done, by the Participant in bad faith or without reasonable belief that the Participant’s action or omission was in the best interest of the Employer.

		
			 
		

		 

		

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				 1.6.
			

			
	
			
			“Change in Control” means:

		
			 
		

			
	
			
				 (a)
			A reorganization, merger, consolidation or sale of all or substantially all of the assets of the Company or a similar transaction in which the Company is either not the resulting entity or a “beneficial owner” (as defined in Rule13-d under the Securities Exchange Act of 1934 (the “Exchange Act”)), directly or indirectly, of securities of the Company representing thirty-five percent (35%) or more of the Company’s outstanding securities ordinarily having the right to vote at the election of directors; or

		
			 
		

			
	
			
				 (b)
			Individuals who constitute the Incumbent Board (as herein defined) of the Company cease for any reason to constitute a majority thereof; or

		
			 
		

			
	
			
				 (c)
			The occurrence of an event of a nature that would be required to be reported in response to Item 1 of the Current Report on Form 8-K, as in effect on the date hereof, pursuant to Section 13 or 15(d) of the Exchange Act; or

		
			 
		

			
	
			
				 (d)
			Without limitation, a “change in control” shall be deemed to have occurred at such time as any “person” (as the term is used in Section 13(d) and 14(d) of the Exchange Act), other than the Company or the trustees or any administrator of any employee stock ownership plan and trust, or any other employee benefit plans established by Employer from time-to-time, is or becomes a “beneficial owner,” directly or indirectly, of securities of the Company representing thirty-five percent (35%) or more of the Company’s outstanding securities ordinarily having the right to vote at the election of directors; or

		
			 
		

			
	
			
				 (e)
			A proxy statement soliciting proxies from stockholders of the Company is disseminated by someone other than the current management of the Company, seeking stockholder approval of a plan of reorganization, merger or consolidation of the Company or similar transaction with one or more corporations as a result of which the outstanding shares of the class of securities then subject to the plan or transaction are exchanged or converted into cash or property or securities not issued by the Company; or

		
			 
		

			
	
			
				 (f)
			A tender offer is made for thirty-five percent (35%) or more of the voting securities of the Company and shareholders owning beneficially or of record thirty-five percent (35%) or more of the outstanding securities of the Company have tendered or offered to sell their shares pursuant to such tender and such tendered shares have been accepted by the tender offeror.

		
			 
		

		
			For these purposes, “Incumbent Board” means the Board of Directors of the Company on the date hereof, provided that any person becoming a director subsequent to the date hereof whose election was approved by a vote of at least three-quarters of the directors comprising the Incumbent Board, or whose nomination for election by members or stockholders was approved by the same nominating committee serving under an Incumbent Board, shall be considered as if he were a member of the Incumbent Board.
		

		
			 
		

			
	
			
				 1.7.
			

			
	
			
			“Code” means the Internal Revenue Code of 1986, as amended from time to time.

		
			 
		

			
	
			
				 1.8.
			

			
	
			
			“Committee” means the Compensation and Benefits Committee of the Board.

		
			 
		

			
	
			
				 1.9.
			“Company” means Unity Bancorp, Inc. or any successor thereto by merger, consolidation or otherwise by operation of law.

		
			 
		

		 

		

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				 1.10.
			“Confidential Information” means business methods, creative techniques and technical data of the Company, the Bank and their affiliates that are deemed by the Company, the Bank or any such affiliate to be and are in fact confidential business information of the Company, the Bank or its affiliates or are entrusted to the Company, the Bank or its affiliates by third parties, and includes, but is not limited to, procedures, methods, sales relationships developed while the Participant is in the service of the Company, the Bank or their affiliates, knowledge of customers and their requirements, marketing plans, marketing information, studies, forecasts and surveys, competitive analyses, mailing and marketing lists, new business proposals, lists of vendors, consultants, and other persons who render service or provide material to the Company, the Bank or their affiliates, and compositions, ideas, plans, and methods belonging to or related to the affairs of the Company, the Bank or their affiliates, except for such information as is clearly in the public domain; provided, however, that information that would be generally known or available to persons skilled in the Participant's fields shall be considered to be “clearly in the public domain” for this purpose.

		
			 
		

			
	
			
				 1.11.
			“Declared Rate” means the prime rate as published in the Wall Street Journal plus one percent (1%). Notwithstanding anything in this Plan to the contrary, the Declared Rate shall not be less than four percent (4%) nor exceed ten percent (10%). The formula used to establish the Declared Rate may be amended by a resolution of the Board of Directors on a prospective basis.

		
			 
		

			
	
			
				 1.12.
			

			
	
			
			“Deferral Award” means an award pursuant to Section 2.2 of the Plan.

		
			 
		

			
	
			
				 1.13.
			“Deferred Benefit Account” means the account maintained on the books of the Bank for each Participant pursuant to Article 3 of the Plan. A Participant’s Deferred Benefit Account shall be utilized solely as a device for the measurement and determination of the amounts to be paid to the Participant pursuant to this Plan. A Participant’s Deferred Benefit Account shall not constitute or be treated as a trust fund of any kind.

		
			 
		

			
	
			
				 1.14.
			“Designation of Beneficiary Form” means the written instrument filed by a Participant designating the manner in which the Participant’s Deferred Benefit Account balance shall be paid to the Participant or his Beneficiary.

		
			 
		

			
	
			
				 1.15.
			“Determination Date” means the date on which the amount of a Participant’s Deferred Benefit Account is determined as provided in Article 3 hereof. The last day of each Plan Year shall be the Determination Date.

		
			 
		

			
	
			
				 1.16.
			“Disability” means (a) the inability of the Participant to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than twelve months; or (b) the Participant is receiving income replacement benefits for a period of not less than three months from the Employer’s accident and health plan by reason of the Participant’s medically-determined physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than twelve months.

		
			 
		

			
	
			
				 1.17.
			“Employer” means the Bank and/or the Company, and any successor or assignee, whether direct or indirect, by purchase, merger, consolidation or otherwise.

		
			 
		

			
	
			
				 1.18.
			“Participant” means any officer of the Bank who is designated as a Participant by the Board of Directors.

		
			 
		

			
	
			
				 1.19.
			

			
	
			
			“Plan” means the Unity Bancorp, Inc. Supplemental Executive Retirement Plan, as herein set forth, and as it may hereafter be amended from time to time.

		
			 
		

			
	
			
				 1.20.
			“Plan Year” means a twelve-month period commencing January 1st and ending the following December 31st. The first Plan Year shall commence on the Effective Date and end on the next December 31st.

		
			 
		

			
	
			
				 1.21.
			“Separation from Service” means a “separation from service” within the meaning of Treas. Reg. §1.409A-1(h) and in accordance with the default rules thereunder, which includes termination of a Participant's employment with the Employer, whether voluntarily or involuntarily, by reason of death, retirement, becoming disabled, resignation or discharge.

		
			 
		

			
	
			
				 1.22.
			

			
	
			
			“Year of Service” means a calendar year in which the Participant completes not less than one thousand (1,000) Hours of Service (as defined under Department of Labor Reg. §2530.200b-2) with the Employer.

		
			 
		

		

		

		 

		

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		Article II 
		

		
			Participation and Benefits
		

		
			 
		

			
	
			
				 1.1.
			

			
	
			
			Participation.

		
			 
		

		
			Participation in the Plan shall be limited to those officers of the Bank designated as Participants by resolution of the Board of Directors. The Board of Directors may, upon designation of an officer as a Participant, establish any terms and conditions of participation as it deems appropriate, including, but not limited to, the rate at which Deferral Awards shall vest with respect to the Participant. The initial Participants are identified in Appendix A to this Plan. Notwithstanding anything herein to the contrary, designation as a Participant shall not entitle a Participant to the grant of a Deferral Award for a specific Plan Year. The Board of Directors may terminate an officer’s status as a Participant on a prospective basis; provided, however, that any termination shall not affect a Participant’s previously accrued benefits, except as set forth in Article 6 and Section 9.1 of this Plan.
		

		
			 
		

			
	
			
				 1.2.
			

			
	
			
			Amount of Deferral Award.

		
			 
		

		
			For any Plan Year, a guaranteed annual Deferral Award percentage of seven and one half percent (7.5%) shall be credited to each Participant’s Deferred Benefit Account. A discretionary annual Deferral Award equal to seven and one half percent (7.5%) shall be credited to the Participant’s account in addition to the guaranteed Deferral Award, if the Bank exceeds the benchmarks set forth in the Annual Executive Bonus Matrix. The total Deferral Award shall never exceed fifteen percent (15%) for any given Plan Year. A Deferral Award may be expressed as a percentage of the Participant’s annual base salary or as otherwise determined by the Board of Directors. The Deferral Award, if any, shall be credited to a Participant’s Deferred Benefit Account as of the last day of the Plan Year to which the award relates. Notwithstanding anything in the foregoing to the contrary, the Company may, in its sole discretion, prospectively increase or decrease either the guaranteed or discretionary award, or both.
		

		
			 
		

			
	
			
				 1.3.
			

			
	
			
			Vesting of Deferral Award.

		
			 
		

		
			Each Participant shall be immediately one hundred percent (100%) vested in all Deferral Awards as of the date they are awarded. Vested Deferral Awards shall not be forfeited, except as otherwise provided in Article 6 and Section 9.1 of this Plan.
		

		
			 
		

		
			Article III 
		

		
			Deferred Benefit Account
		

		
			 
		

			
	
			
				 1.1.
			

			
	
			
			Determination of Account.

		
			 
		

		
			Each Participant’s Deferred Benefit Account as of each Determination Date shall consist of the balance of the Participant’s Deferred Benefit Account as of the immediately preceding Determination Date plus the Participant’s Deferral Award, if any, awarded since the immediately preceding Determination Date. The Deferred Benefit Account of each Participant shall be reduced by the amount of all distributions, if any, made from such Deferred Benefit Account since the preceding Determination Date.
		

		
			 
		

			
	
			
				 1.2.
			

			
	
			
			Crediting of Account.

		
			 
		

		
			As of each Determination Date, the Participant’s Deferred Benefit Account shall be increased by the amount of interest earned since the preceding Determination Date. Interest shall be based upon the Declared Rate, which shall be adjusted annually on the first business day of the Plan Year to apply during the Plan Year. Interest shall be based upon the average daily balance of the Participant’s Deferred Benefit Account since the last preceding Determination Date, but after the Deferred Benefit Account has been adjusted for any contributions to be credited as of such day.
		

		
			 
		

		 

		

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				 1.3.
			

			
	
			
			Statement of Accounts.

		
			 
		

		
			The Bank shall provide each Participant, as soon as practicable after the close of each Plan Year, a statement in the form as the Bank deems desirable, setting forth the balance to the credit of the Participant in his Deferred Benefit Account as of the last day of the preceding Plan Year.
		

		
			 
		

		
			Article IV 
		

		
			Benefits
		

		
			 
		

			
	
			
				 1.1.
			

			
	
			
			Separation from Service.

		
			 
		

			
	
			
				 (a)
			Upon a Separation from Service, other than for Cause, death or Disability, the Bank shall pay to the Participant the amount in his vested Deferred Benefit Account calculated as of the last Determination Date preceding his Separation from Service, and in accordance with Sections 3.1 and 3.2 of this Plan. The payment of any benefit under this Plan shall be subject to the provisions of Article 6 and Section 9.1 of this Plan. The payment shall be in the form described in Section 4.2 below. Payment under this Section 4.1(a) shall commence on the first day of the second calendar month following the date the Participant incurs a Separation of Service for reasons other than Cause, death or Disability, subject to the provisions of Section 4.3 below. The Bank shall continue to credit interest on the remaining Deferred Benefit Account balance during any applicable installment period fixed at the rate in effect under Section 3.2 on the date of the Participant’s Separation from Service.

		
			 
		

			
	
			
				 (b)
			If the Participant’s Separation from Service is on account of Disability, the Participant shall be entitled to payment of his Deferred Benefit Account calculated as of the last Determination Date preceding his date of Disability, and in accordance with Sections 3.1 and 3.2 of this Plan. The first payment to the Participant shall commence on the first day of the second calendar month after the date of the Participant’s Disability. The Bank shall pay the benefit to the Participant in fifteen (15) annual installments as set forth in Section 4.2 below. The Bank shall continue to credit interest on the remaining Deferred Benefit Account balance during any applicable installment period fixed at the rate in effect under Section 3.2 on the date of the Participant’s Disability.

		
			 
		

			
	
			
				 (c)
			If the Participant dies prior to the commencement of benefits under this Plan,  his Deferred Benefit Account shall be calculated as of the last Determination Date preceding the Participant’s death. The first payment to the Participant’s Beneficiary(ies) shall commence on the first day of the second calendar month following the Participant’s death and shall continue to be paid in accordance with the provisions of Sections 3.1, 3.2 and 4.2 of this Plan.

		
			 
		

			
	
			
				 (d)
			If the Participant dies after payments have commenced but before receiving all such payments, the Bank shall pay the remaining benefits to the Participant’s Beneficiary(ies) at the same time and in the same amounts they would have been paid to the Participant had the Participant survived until the aggregate number of payments made to the Participant and to his Beneficiary(ies) equals the sum of fifteen (15).

		
			 
		

			
	
			
				 (e)
			If upon the occurrence of a Change in Control, and in connection with such Change in Control, the Participant’s employment with the Employer terminates (regardless of whether such termination is by the Employer, through Participant’s resignation of employment with Employer or its successor, or Participant’s failure to accept an offer of employment with any successor to the Employer), the Participant shall be entitled to commence payment of his Deferred Benefit Account in the form and manner provided in Sections 4.1(a) and 4.2 of this Plan, subject to the terms and conditions set forth in Article 6 and Section 9.1 of this Plan.

		
			 
		

			
	
			
				 (f)
			All installment payments made pursuant to this Section 4.1 shall be payable annually beginning with a single payment on the applicable date specified in this Article 4 and continuing each anniversary of that date until fully paid in accordance with this Section 4.1.

		
			 
		

		 

		

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				 1.2.
			

			
	
			
			Form of Benefit Payment.

		
			 
		

		
			Upon a Separation from Service pursuant to Section 4.1 other than for Cause, the Bank shall pay the Participant’s Deferred Benefit Account in the form of an annual payment of a fixed amount which shall amortize the Deferred Benefit Account balance in equal installments of principal and interest over a period of fifteen (15) years. For purposes of determining the amount of the annual payment, the rate of interest shall be the average of the Declared Rate credited to the Participant’s Deferred Benefit Account for the three (3) years preceding the initial payment (or such lesser number of years in which the Participant participated in the Plan).
		

		
			 
		

			
	
			
				 1.3.
			

			
	
			
			Compliance with Internal Revenue Code Section 409A.

		
			 
		

		
			The Bank and the Participant intend that their exercise of authority or discretion under this Plan shall comply with Section 409A of the Code (“Section 409(A)”). Any payments made pursuant to this Plan shall be subject to applicable tax or similar withholding requirements under applicable federal, state or local employment or income tax laws or similar statutes or other provisions of law then in effect.
		

		
			 
		

			
	
			
				 (a)
			If when the Participant 's employment terminates, the Participant is a specified employee, as defined in Section 409A, and if any payments under this Plan will result in additional tax or interest to the Participant because of Section 409A, then despite any contrary provision of this Section 4.3, such payments shall be made on the first to occur of the (x) a date that is at least six months after termination of the Participant's employment for reasons other than the Participant 's death, (y) the date of the Participant's death, or (z) any earlier date that does not result in additional tax or interest to the Participant under Section 409A. As promptly as possible after the end of the period during which payments are delayed under this provision, the entire amount of the delayed payments shall be paid to the Participant in a single lump sum. If any provision of this Plan does not satisfy the requirements of Section 409A, such provision shall nevertheless be applied in a manner consistent with those requirements.  If any provision  of this Plan would subject the Participant to additional tax or interest under Section 409A, the Bank shall reform the provision. However, the Bank shall maintain to the maximum extent practicable the original intent of the applicable provision without subjecting the Participant to additional tax or interest, and the Bank shall not be required to incur any additional compensation expense as a result of the reformed provision. In no event may the Participant, directly or indirectly, designate the calendar year of any payment under this Plan.

		
			 
		

			
	
			
				 (b)
			For purposes of Section 409A, each payment made under this Plan shall be designated as a “separate payment” within the meaning of the Section 409A, and references herein to the Participant’s “termination of employment” shall refer to the Participant’s Separation from Service with the Bank within the meaning of Section 409A.

		
			 
		

		
			Article V 
		

		
			Beneficiary Designation
		

		
			 
		

		
			5.1.      Beneficiary Designation.
		

		
			 
		

		
			Each Participant shall have the right, at any time, to designate any person or persons as his Beneficiary or Beneficiaries (both primary as well as contingent) to whom payment under this Plan shall be paid in the event of his death prior to complete distribution to the Participant of the benefits due him under the Plan. Any Beneficiary designation shall be made in a written instrument filed with the Board of Directors and shall be effective only when received in writing by the Bank. Any Beneficiary designation may be changed by a Participant by the written filing of such change on a form prescribed by the Bank. The filing of a new Beneficiary designation form will cancel all Beneficiary designations previously filed. If a Participant fails to designate a Beneficiary as provided in this Section 5.1, or if no Beneficiary survives the Participant, the Beneficiary shall be deemed to be his estate.
		

		
			 
		

		

		

		 

		

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		Article VI
		

		
			Regulatory Provisions That May Affect Payment of Participant’s Deferred Benefit Account
		

		
			 
		

			
	
			
				 1.1.
			

			
	
			
			Notice of Service.

		
			 
		

		
			If the Participant is suspended from office and/or temporarily prohibited from participating in the conduct of the Bank's affairs by a notice served under Section 8(e)(3), 12 U.S.C. §1818(e)(3) or 8(g)(1), 12 U.S.C.§1818(g)(1) of the Federal Deposit Insurance Act (“FDIA”), as amended by the Financial Institutions Reform, Recovery and Enforcement Act of 1989, the Employer shall freeze the Participant 's Deferred Benefit Account and its obligations under this Plan shall be suspended as of the date of service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Employer may restore the Deferred Benefit Account as of the date of his suspension.
		

		
			 
		

			
	
			
				 1.2.
			

			
	
			
			Removal of Participant.

		
			 
		

		
			If the Participant is removed and/or permanently prohibited from participating in the conduct of the Bank's  affairs  by  an  order  issued  under  Section  8(e)(4),  12  U.S.C.  §1818(e)(4)  or  8(g)(1), 12 U.S.C.§1818(g)(1) of the FDIA, all obligations of the Employer under this Plan shall terminate as of the effective date of the order, and the Participant shall forfeit his entire Deferred Benefit Account.
		

		
			 
		

			
	
			
				 1.3.
			

			
	
			
			Bank Default.

		
			 
		

		
			If the Bank is in default as defined in Section 3(x)(1), 12 U.S.C. §18139(x)(1) of the FDIA, all obligations under this Plan shall terminate as of the date of default, but this Section 6.3 shall not affect any vested rights.
		

		
			 
		

			
	
			
				 1.4.
			

			
	
			
			Termination of Benefits by Regulators.

		
			 
		

		
			Notwithstanding the vested rights of a Participant, all obligations under this Plan may be terminated (except to the extent determined that continuation of this Plan is necessary for the continued operation of the Bank): (a) by the New Jersey Department of Bank and Insurance (the “NJDBI”) at the time the Federal Deposit  Insurance Corporation (the  “FDIC”) enters into an  agreement to provide assistance to or on behalf of the Bank under the authority contained in Section 13(c), 12 U.S.C. §1823 of the FDIA; or (b) by the NJDBI at the time the NJDBI approves a supervisory merger to resolve problems related to operation of the Bank or when the Bank is determined by the NJDBI to be in an unsafe or unsound condition.
		

		
			 
		

			
	
			
				 1.5.
			

			
	
			
			Compliance with Golden Parachute Rules.

		
			 
		

		
			Notwithstanding anything herein contained to the contrary, any Deferral Award under this Plan is subject to and conditioned upon its compliance with Section 18(k) of the FDIA, 12 U.S.C. §1828(k), and the regulations promulgated thereunder in 12 C.F.R. Part 359, Golden Parachute and Indemnification Payments.
		

		
			 
		

		
			Article VII 
		

		
			Administration of the Plan
		

		
			 
		

			
	
			
				 1.1.
			

			
	
			
			Administration.

		
			 
		

			
	
			
				 (a)
			Except for the functions reserved to the Company or the full Board, the administration of the Plan shall be the responsibility of the Compensation and Benefits Committee. The Committee shall consist of three or more persons designated by the Company. Members of the Committee shall serve for such terms as the Company shall determine and until their successors are designated and qualified. Any member of the Committee may resign upon at least sixty (60) days written notice to the Company, or may be removed from office by the Company at any time, with or without notice.

		
			 
		

		 

		

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				 (b)
			The Committee shall hold meetings upon notice at such times and places as it may determine. Notice shall not be required if waived in writing. Any action of the Committee shall be taken pursuant to a majority vote at a meeting, or pursuant to the written consent of a majority of its members without a meeting, and such action shall constitute the action of the Committee and shall be binding in the same manner as if all members of the Committee had joined therein. A majority of the members of the Committee shall constitute a quorum. No member of the Committee shall note or be counted for quorum purposes on any matter relating solely to himself or his rights under the Plan. The Committee shall record minutes of any actions taken at its meetings or of any other official action of the Committee. Any person dealing with the Committee shall be fully protected in relying upon any written notice, instruction, direction or other communication signed by the Secretary of the Committee or by any of the members of the Committee or by a representative of the Committee authorized by the Committee to sign the same in its behalf.

		
			 
		

			
	
			
				 (c)
			The Committee shall have the power and the duty to take all actions and to make all decisions necessary or proper to carry out the Plan. The determination of the Committee as to any question involving the Plan shall be final, conclusive and binding. Any discretionary actions to be taken under the Plan by the Committee shall be uniform in their nature and applicable to all persons similarly situated. Without limiting the generality of the foregoing, the Committee shall have the following powers and duties:

		
			 
		

			
	
			
				 (i)
			The duty to furnish to the Participant, upon request, a copy of the Plan;

		
			 
		

			
	
			
				 (ii)
			The power to require any person to furnish such information as it may request for the purpose of the proper administration of the Plan as a condition to receiving any benefits under the Plan;

		
			 
		

			
	
			
				 (iii)
			The power to make and enforce such rules and regulations and prescribe the use of such forms as it shall deem necessary for the efficient administration of the Plan;

		
			 
		

			
	
			
				 (iv)
			The power to interpret the Plan, and to resolve ambiguities, inconsistencies and omissions, which findings shall be binding, final and conclusive;

		
			 
		

			
	
			
				 (v)
			The power to decide on questions concerning the Plan in accordance with the provisions of the Plan;

		
			 
		

			
	
			
				 (vi)
			The power to determine the amount of benefits which shall be payable to any person in accordance with the provisions of the Plan and to provide a full and fair review to the Participant if a claim for benefits has been denied in whole or in part;

		
			 
		

			
	
			
				 (vii)
			The power to designate a person who may or may not be a member of the Committee as “Plan Administrator;”

		
			 
		

			
	
			
				 (viii)
			The power to allocate any such powers and duties to or among individual members of the Committee; and

		
			 
		

			
	
			
				 (ix)
			The power to designate persons other than Committee members to carry out any duty or power which would otherwise be a responsibility of the Committee or administrator, under the terms of the Plan.

		
			 
		

			
	
			
				 (d)
			To the extent permitted by law, the Committee and any person to whom it may delegate any duty or power in connection with administering the Plan, the Company, the Bank, and the officers and directors thereof, shall be entitled to rely conclusively upon, and shall be fully protected in any action taken or suffered by them in good faith in the reliance upon, any actuary, counsel, accountant, other specialist, or other person selected by the Committee, or in reliance upon any tables, valuations, certificates, opinions or reports which shall be furnished by any of them. Further, to the extent permitted by law, no member of the Committee, nor the Company, the Bank, nor the officers or directors thereof, shall be liable for any neglect, omission or wrongdoing of any other members of the Committee, agent, officer or employee of the Company or any Employer. Any person claiming benefits under the Plan shall look solely to the Employer for redress.

		
			 
		

			
	
			
				 (e)
			All expenses incurred before the termination of the Plan that shall arise in connection with the administration of the Plan (including, but not limited to administrative expenses, proper charges and disbursements, 
		

		 

		

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			compensation and other expenses and charges of any actuary, counsel, accountant, specialist, or other person who shall be employed by the Committee in connection with the administration of the Plan), shall be paid by the Employer.

		
			 
		

			
	
			
				 1.2.
			

			
	
			
			Claims Procedure.

		
			 
		

		
			The claims procedure set forth in this Section 7.2 is the exclusive method of resolving disputes under the Plan.
		

		
			 
		

			
	
			
				 (a)
			Any person asserting any rights under this Plan must submit a written claim to the Committee. The Committee shall render a decision within a reasonable period of time from the date on which it received the written claim, not to exceed ninety (90) days, unless an extension of time is necessary due to reasonable cause.

		
			 
		

			
	
			
				 (b)
			If a claim is denied in whole or in part, the claimant must be provided with the following information:

		
			 
		

			
	
			
				 (i)
			A statement of specific reasons for the denial of the claim;

		
			 
		

			
	
			
				 (ii)
			

			
	
			
			References to the specific provisions of the Plan on which the denial is based;

		
			 
		

			
	
			
				 (iii)
			A description of any additional material or information necessary to perfect the claim with an explanation of why such material information is necessary; and

		
			 
		

			
	
			
				 (iv)
			An explanation of the claim procedure with a statement that the claimant must request review of the decision denying the claim within thirty (30) days following the date on which the claimant received such notice.

		
			 
		

			
	
			
				 (c)
			The claimant may request that the Board review the denial of a claim. A request for review must be in writing and must be received by the Board within thirty (30) days of the date on which the claimant received written notification of the denial of the claim. The Board will render a decision with respect to a written request for review within sixty (60) days from the date on which the Board received the request for review. If the request for review is denied in whole or in part, the Board shall mail the claimant a written decision that includes a statement of the reasons for the decision. The determination of the Board shall be final, conclusive and binding.

		
			 
		

		
			Article VIII 
		

		
			Amendment or Termination
		

		
			 
		

			
	
			
				 1.1.
			

			
	
			
			Amendment or Termination.

		
			 
		

			
	
			
				 (a)
			The Board shall have the power to suspend or terminate the Plan in whole or in part at any time, and from time to time to extend, modify, amend or revise the Plan in such respects as the Board, by resolution, may deem advisable; provided, however, that no such extension, modification, amendment, revision, or termination shall deprive the Participant or any Beneficiary of any benefit accrued under the Plan, except to the extent such forfeiture is as a result of Separation from Service, for Cause, or as provided in Article 6 and Section 9.1 of the Plan.

		
			 
		

			
	
			
				 (b)
			In the event of the termination or partial termination of the Plan and the Participant is then employed by the Employer, the Company or the Bank shall pay the Deferred Benefit Account, calculated as of the date of termination or partial termination of the Plan, to the Participant or his Beneficiary(ies) in accordance with the payment schedule described in Article 4, subject to the provisions of Article 6 and Section 9.1 of the Plan. If the Participant's Separation from Service, for other than Cause, had occurred on the date the Plan is terminated, the Deferred Benefit Account to which he is entitled as of the date of Separation from Service shall continue to be payable, or if such benefits have not yet commenced, shall be payable in accordance with the payment schedule described in Article 4, subject to the provisions of Article 6 and Section 9.1 of this Plan.

		
			 
		

			
	
			
				 (c)
			In the event of a termination or partial termination of the Plan, the rights of the Participant to benefits accrued to the date of such termination or partial termination shall become nonforfeitable, except in the event of Participant's termination for Cause, or as provided in Article 6 and Section 9.1 of this Plan.

		
			 
		

		

		

		 

		

			9

		

		

			 

		

 

		Article IX 
		

		
			General Provisions
		

		
			 
		

			
	
			
				 1.1.
			

			
	
			
			Forfeiture of Deferred Benefit Account.

		
			 
		

		
			Notwithstanding any other provision of this Plan, the Deferred Benefit Account described in Article 3 (or any portion thereof) shall not be payable to the Participant, and his Beneficiary(ies) shall forfeit all rights to any payments under this Plan, if:
		

		
			 
		

			
	
			
				 (a)
			The Employer determines that Cause exists for the termination of the Participant's employment; or

		
			 
		

			
	
			
				 (b)
			Any benefits, or portion thereof, under the Plan constitute “excess” parachute payments under Section 280G of the Code or are prohibited by banking regulations as set forth in Article 6 of this Plan; or

		
			 
		

			
	
			
				 (c)
			The Participant is in breach of any of the covenants of confidentiality, non-competition, non-interference with, or non-solicitation of, employees, customers, supplier(s) or agents or similar matters as set forth in subsections (d) and (e) of this Section 9.1, or contained in any written agreement with the Employer; or

		
			 
		

			
	
			
				 (d)
			Without the prior written consent of the Employer, the Participant discloses or divulges to any third party (except as may be required by his duties, by law, regulation, or order of a court or government authority, or as directed by the Bank or the Company), or uses either to the detriment of the Employer or in any business or on behalf of any business competitive with or substantially similar to any business of the Employer, any Confidential Information obtained during the course of his employment with the Employer, provided that this Section 9.1(d) shall not be construed as restricting the Participant from disclosing such information to the employees of the Employer; or

		
			 
		

			
	
			
				 (e)
			While the Participant is employed by the Employer or within the period of time that payments of the Deferred Benefit Account are being made hereunder to the Participant (and including the period immediately after the Participant's termination of employment and before payments from the Participant’s Deferred Benefit Account begin) the Participant (i) interferes with the relationship of the Employer with any of its employees, suppliers, agents, or representatives (including, without limitation, causing or helping another business to hire any employee of the Employer, or (ii) directly or indirectly diverts or attempts to divert from the Employer any business in which it has been actively engaged during the period of such employment, or interferes with the relationship of the Employer with any of its customers or prospective customers; provided, however, that this Section 9.1(e) shall not, in and of itself, prohibit the Participant from engaging in the banking, trust, or financial services business in any capacity, including that as an owner or employee.

		
			 
		

			
	
			
				 (f)
			If any of the provisions of subsections (c) through (e) of this Section 9.1 shall be adjudicated to be invalid or unenforceable, such provision shall be deemed amended to delete from the portion thus adjudicated to be invalid or unenforceable, and such deletion shall apply only with respect to the operation of such provision in the particular jurisdiction in which such adjudication is made. In addition, should any court determine that the provisions of this Section 9.1 shall be unenforceable with respect to scope, duration, or geographic area, such court shall be empowered to substitute, to the extent enforceable, provisions similar hereto or other provisions so as to provide to the Company, the Bank and their affiliates, to the fullest extent permitted by applicable law, the benefits intended by subsections (c) through (e) of this Section 9.1.

		
			 
		

		 

		

			10

		

		

			 

		

 

			
	
			
				 1.2.
			

			
	
			
			Identity/Whereabouts of Recipient of Benefit.

		
			 
		

		
			If the Employer is unable to make payment to any Participant or Beneficiary, or any other person to whom a payment is due under the Plan, because it cannot ascertain the identity or whereabouts of the Participant or Beneficiary, or other person after reasonable efforts have been made to identify or locate such person (including a notice of the payment so due mailed to the last known address of the Participant or Beneficiary, or other person shown on the records of the Employer), such payment and all subsequent payments otherwise due to the Participant or Beneficiary, or other person shall be forfeited twenty-four (24) months after the date such payment first became due; provided, however, that such payment and any subsequent payments shall be reinstated, retroactively, no later than sixty (60) days after the date on which the Participant or Beneficiary, or other person shall make application therefor. Neither the Company, the Bank, the Committee nor any other person shall have any duty or obligation under the Plan to make any effort to locate or identify any person entitled to benefits under the Plan, other than to mail a notice to such person's last known mailing address.
		

		
			 
		

		
			Article X 
		

		
			Miscellaneous
		

		
			 
		

			
	
			
				 1.1.
			

			
	
			
			Unsecured General Creditor.

		
			 
		

		
			Participants and their Beneficiaries, heirs, successors and assigns shall have no secured interest or claim in any property or assets of the Company, the Bank or any of their affiliates, nor shall they be beneficiaries of, or have any rights, claims or interests in any life insurance policies, annuity contracts or the proceeds therefrom owned or which may be acquired by the Company or the Bank (the “Policies”). Any such Policies or other assets of the Company, the Bank or any of their affiliates shall not be held under any trust for the benefit of Participants, their Beneficiaries, heirs, successors or assigns, or held in any way as collateral security for the fulfilling of the obligations of the Employer under this Plan. Any and all of the assets and Policies of the Company, the Bank and any of their affiliates, shall be, and remain, the general, unpledged, unrestricted assets of the Company, the Bank or any of their affiliates. The Company’s and the Bank’s obligation under the Plan shall be merely that of an unfunded and unsecured promise of the Employer to pay money in the future. The Employer shall have no obligation under this Plan with respect to individuals other than Participants and Beneficiaries.
		

		
			 
		

			
	
			
				 1.2.
			

			
	
			
			Non-assignability.

		
			 
		

		
			Neither a Participant nor any other person shall have any right to commute, sell, assign, transfer, pledge, anticipate, mortgage or otherwise encumber, transfer, hypothecate or convey in advance of actual receipt the amounts, if any, payable hereunder, or any part thereof, which are, and all rights to which are, expressly declared to be unassignable and non-transferable. No part of the amounts payable shall, prior to actual payment, be subject to seizure or sequestration for the payment of any debts, judgments, alimony or separate maintenance owed by a Participant or any other person, nor be transferable by operation of law in the event of a Participant’s or any other person’s bankruptcy or insolvency.
		

		
			 
		

			
	
			
				 1.3.
			

			
	
			
			Not a Contract of Employment.

		
			 
		

		
			The terms and conditions of this Plan shall not be deemed to constitute a contract of employment between the Employer and the Participant, and the Participant (or his Beneficiary) shall have no rights against the Employer except as may otherwise be specifically provided herein. Moreover, nothing in this Plan shall be deemed to give a Participant the right to be retained in the service of the Employer or to interfere with the right of the Employer to discipline or discharge him at any time and to treat the Participant without any regard to the effect that such treatment might have upon the Participant’s benefits under this Plan.
		

		
			 
		

		 

		

			11

		

		

			 

		

 

			
	
			
				 1.4.
			

			
	
			
			Terms.

		
			 
		

		
			Whenever any words are used herein in the masculine, they shall be construed as though they were used in the feminine in all cases where they would so apply; and wherever any words are used herein in the singular or in the plural, they shall be construed as though they were used in the plural or the singular, as the case may be, in all cases where they would so apply.
		

		
			 
		

			
	
			
				 1.5.
			

			
	
			
			Captions.

		
			 
		

		
			The captions of the articles, sections and paragraphs of this Plan are for convenience only and shall not control or affect the meaning or construction of any of its provisions.
		

		
			 
		

			
	
			
				 1.6.
			

			
	
			
			Governing Law.

		
			 
		

		
			The provisions of this Plan shall be construed, administered and governed according to the laws of the State of New Jersey, unless preempted by federal law. In applying the laws of the State of New Jersey, no effect shall be given to conflict of laws principles that would cause the laws of another jurisdiction to apply.
		

		
			 
		

			
	
			
				 1.7.
			

			
	
			
			Validity.

		
			 
		

		
			In case any provision of this Plan shall be held illegal or invalid for any reason, said illegality or invalidity shall not affect the remaining parts hereof, but this Plan shall be construed and enforced as if the illegal and invalid provision had never been inserted herein.
		

		
			 
		

			
	
			
				 1.8.
			

			
	
			
			Notice.

		
			 
		

		
			Any notice or filing required or permitted to be given to the Bank or the Company under the Plan shall be sufficient if in writing and hand delivered, or sent by registered or certified mail, to the Secretary of the Board of Directors. The notice shall be deemed given as of the date of delivery or, if delivery is made by mail as of three (3) days following the date shown on the postmark or on the receipt for registration or certification.
		

		
			 
		

			
	
			
				 1.9.
			

			
	
			
			Successors.

		
			 
		

		
			The provisions of this Plan shall bind and inure to the benefit of the Company, the Bank and their successors and assigns. The term successors as used herein shall include any corporate or other business entity which shall, whether by merger, consolidation, purchase or otherwise acquire all or substantially all of the business and assets of the Company and/or the Bank and successors of any such corporation or other business entity.
		

		
			 
		

		
			IN WITNESS WHEREOF, the Bank and the Company, acting through its authorized officer have duly executed and adopted this Plan.
		

		
			 
		

		
			 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						UNITY BANK

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						10/27/2015

					
					
						By:

					
					
						/s/ James A. Hughes

				
	
					
						Date

					
					
						Title:

					
					
						James A. Hughes, President and Chief Executive Officer

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						UNITY BANCORP, INC

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						10/27/2015

					
					
						By:

					
					
						/s/ James A. Hughes

				
	
					
						Date

					
					
						Title:

					
					
						James A. Hughes, President and Chief Executive Officer

				

		
			 
		

		

		

		 

		

			12

		

		

			 

		

 

		UNITY BANK
		

		
			EXECUTIVE INCENTIVE RETIREMENT PLAN
		

		
			Appendix A
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			Initial Participants
		

		
			 
		

		
			Alan Bedner 
		

		
			Janice Bolomey 
		

		
			John Kauchak
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						UNITY BANK

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						10/27/2015

					
					
						By:

					
					
						/s/ James A. Hughes

				
	
					
						Date

					
					
						Title:

					
					
						James A. Hughes, President and Chief Executive Officer

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						UNITY BANCORP, INC

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						10/27/2015

					
					
						By:

					
					
						/s/ James A. Hughes

				
	
					
						Date

					
					
						Title:

					
					
						James A. Hughes, President and Chief Executive Officer

				

		

		

		 

		

			13

		

		

			 

		

 

		UNITY BANK
		

		
			EXECUTIVE INCENTIVE RETIREMENT PLAN
		

		
			Designation of Beneficiary Form
		

		
			 
		

		
			PARTICIPANT INFORMATION (Please Print in Ink)
		

		
			 
		

			
					
						 

					
						 

					
						 

					
					
						 

				
	
					
						Name:

					
					
						 

				
	
					
						Social Security Number:

					
					
						 

				
	
					
						Address:

					
					
						 

				
	
					
						Telephone Number:

					
					
						 

				

		
			 
		

		
			I.BENEFICIARY DESIGNATION (Select either A or B)
		

		
			 
		

			
	
			
				 A.
			I hereby designate the following Beneficiary/ies to receive any benefit payable on account of my death under the Plan, subject to my right to change this designation and subject to the terms of the Plan:

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						Primary Beneficiary/ies

					
					
						 

					
					
						Contingent Beneficiary/ies

				
	
					
						Name/Address/Telephone      

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Relationship to Participant

					
					
						 

					
					
						 

					
					
						 

				
	
					
						% of Plan Benefit

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Date of Birth

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Social Security Number

					
					
						 

					
					
						 

					
					
						 

				

		
			 
		

			
	
			
				 B.
			I hereby revoke any prior designation of Beneficiary(ies) to receive any benefit payable on account of my death under the Plan, subject to my right to change this designation and subject to the terms of the Plan:

		
			 
		

			
					
						 

					
					
						 

				
	
					
						Name/Address/Telephone      

					
					
						 

				
	
					
						Relationship to Participant

					
					
						 

				
	
					
						% of Plan Benefit

					
					
						 

				
	
					
						Date of Birth

					
					
						 

				
	
					
						Social Security Number

					
					
						 

				

		
			 
		

		
			I acknowledge that I have been given a copy of the Plan and I agree that the above Beneficiary designation is subject to all of the terms of the Plan. All capitalized terms not defined in this Form shall have the same meaning as indicated in the Plan.   This Beneficiary designation having been made           .
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						Accepted for UNITY BANK

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Signature:

					
					
						 

					
					
						 

					
					
						Name:

					
					
						 

				
	
					
						 

					
					
						Participant

					
					
						 

					
					
						Title:

					
					
						 

				

		
			 
		

		 

		

			14EX-10.1

 Exhibit 10.1 

General Electric Capital Corporation 

901 Main Avenue 
 Norwalk,
Connecticut 06851 
 July 15, 2015 

BRE Imagination Holdco LLC 
 c/o The Blackstone Group 

345 Park Avenue, 42nd Floor 
 New York, New York 10154 

Attention: William Stein and Judy Turchin 
 Re: Letter
Agreement (“Letter Agreement”) detailing certain amendments to the Purchase and Sale Agreement 
 Ladies and Gentlemen: 

Reference is hereby made to that certain Purchase and Sale Agreement, dated as of April 10, 2015 (the “Purchase
Agreement”), by and among General Electric Capital Corporation, a Delaware corporation (“Seller”, and, in its capacity as the Seller Representative under the Purchase Agreement, the “Seller
Representative”), on the one hand, and BRE Imagination Holdco LLC, a Delaware limited liability company, BRE Imagination Germany I LLC, a Delaware limited liability company, and BRE Imagination Germany II LLC, a Delaware limited liability
company (collectively, “Purchaser”), on the other hand. Capitalized terms used but not defined herein shall have the meaning given to such terms in the Purchase Agreement. 

 

	A.	Certain Equity Assets. The last sentence of Section 1.2(b)(ii) of the Purchase Agreement shall be amended and restated in its entirety as follows: 

“Notwithstanding the foregoing, in no event shall the Unadjusted Purchase Prices set forth on Schedule 1 or
Schedule 3, as applicable, for the following assets be adjusted pursuant to Section 1.2 or Section 1.4 of this Agreement (and the applicable Unadjusted Purchase Prices set forth on Schedule 1 or Schedule
3, as applicable, shall be included for such assets in the Estimated Initial Equity Purchase Price or the Estimated Initial Deferred Purchase Price, as applicable, without any such further adjustment): 

(A) the Purchased Interests on Schedule 1 with respect to the Purchased Entity known as “Martinez Cogen Limited Partnership”;

 (B) the Purchased Interests on Schedule 3 with respect to the Purchased Entities known as “Artemis Zweite
Grundstücksver-waltungsgesellschaft mbH & Co. Beteiligungs KG”, “Artemis Vierte Grundstücksver-waltungsgesellschaft mbH & Co. Beteiligungs KG”, “Artemis Grundstücksver-waltungsgesellschaft
mbH & Co. Beteiligungs KG”, “Artemis Dritte Grundstücksver-waltungsgesellschaft mbH & Co. Beteiligungs KG”, and “Artemis Grundstücksver-waltungsgesellschaft mbH”; 

(C) the Purchased Interests on Schedule 3 with respect to the Purchased Entity known as “Petrarca Fondo Comune di Investimento di
Tipo Chiuso”; and 
 (D) the Purchased Interests on Schedule 1 with respect to the Purchased Entity known as “Kimex Retail
Land and Development Fund I, LP” (the “Kimco Interest”) (except that, solely with respect to the Equity Asset described in this clause (D), the applicable Unadjusted Purchase Price set forth on Schedule 1 with respect to
such Equity Asset shall be (x) increased (on a dollar-for-dollar basis) at the applicable Closing by an amount equal to any capital contributions made by any Seller Party or Affiliate thereof to such Purchased Entity from March 31, 2015
through the applicable Closing Date, and (y) decreased (on a dollar-for-dollar basis) at the applicable Closing by an amount equal to any distribution received by any Seller Party or Affiliate thereof from such Purchased Entity from
March 31, 2015 through the applicable Closing Date.” 

  
 1 

	B.	Petrarca. With respect to the Option Purchased Entity known as “Petrarca Fondo Comune di Investimento di Tipe Chiuso”, the reference on Schedule 3 of the Purchase Agreement in the column labeled
“Option Unadjusted Asset Purchase Price Amount (EUR)” to “22,400,000” shall be deleted and replaced with EUR “500,000”. 

  

	C.	Belgium and Switzerland. The Parties acknowledge and agree that as of the Initial Equity Closing Date, the Properties situated in Belgium and Switzerland shall constitute Deferred Assets for purposes of this
Agreement. 

  

	D.	Acquisition of Mexican SOFOM. The Seller Parties and the Purchaser Parties agree as follows: 

  

	 	a.	The Purchaser Parties shall acquire the Interests in CRE Administradora de Cartera, S.A. de C.V., SOFOM, ENR (the “SOFOM” and the Interests therein, the “Purchased SOFOM Interests”).
The SOFOM shall be treated as a “Purchased Entity” for all purposes of the Purchase Agreement and Purchased SOFOM Interests shall be treated as “Purchased Interests” for all purposes of the Purchase Agreement. Schedules 1,
3.9(a), 3.9(b), 3.9(c) and 5.1(i)(E) to the Purchase Agreement shall be amended to add as additional information relating to the SOFOM and the Purchased SOFOM Interests, as set forth on Schedule B attached hereto,
in each case, as if such information had been included on the applicable schedule as of the date of the Purchase Agreement. 

  

	 	b.	The Purchaser Parties shall acquire the Purchased SOFOM Interests in lieu of purchasing the Purchased Commercial Loans set forth on Schedule C (the “SOFOM Loans”) attached hereto and the
Unadjusted Purchase Price payable to the Seller Parties with respect to the Purchased SOFOM Interests shall be the amount of the aggregate amount of the Unadjusted Purchase Prices for the SOFOM Loans (which aggregate Unadjusted Purchase Price shall
constitute the Unadjusted Purchase Price for the Purchased SOFOM Interests and shall be adjusted in accordance with Section 1.2 and Section 1.4 of the Purchase Agreement). 

 

	 	c.	The acquisition of the SOFOM Interests (the “SOFOM Acquisition”) shall happen prior to the Transfer (by way of factoring) of the Purchased Commercial Loans set forth on Schedule C-2 (the
“Non-SOFOM MX Loans”), which Non-SOFOM MX Loans, subject to the conditions set forth in the Purchase Agreement, shall be transferred from the Seller Parties to the SOFOM following the SOFOM Acquisition. 

 

	E.	Acquisition of OC Slovakia s.r.o. The Seller Parties and the Purchaser Parties agree as follows: 

  

	 	a.	 The Purchaser Parties shall acquire the Interests in OC Slovakia s.r.o. (the “Slovakian SPV” and the Interests therein, the
“Slovakian Interests”). The Slovakian SPV shall be treated as a “Purchased Entity” for all purposes of the Purchase Agreement and Slovakian Interests shall

	 	
be treated as “Purchased Interests” for all purposes of the Purchase Agreement. Schedules 1, 3.9(a), 3.9(b) and 3.9(c) to the Purchase Agreement shall
be amended to add as additional information relating to the Slovakian SPV and the Slovakian Interests, as set forth on Schedule B attached hereto, in each case, as if such information had been included on the applicable schedule as of the
date of the Purchase Agreement. 

  

	 	b.	The Purchaser Parties shall acquire the Slovakian Interests in lieu of purchasing the Properties described as Euromax – Nitra, Euromax – Poprad, Euromax – Trencin and Euromax - Trnava on Schedule 2
of the Purchase Agreement (the “Slovakian Properties”), and, notwithstanding anything to the contrary in the Purchase Agreement, the Unadjusted Purchase Price payable to the Seller Parties with respect to the Slovakian Interests
shall be the amount of €1. 

  

	 	c.	Notwithstanding Section 1.4(a)(iv)(C)(1) of the Purchase Agreement or anything else to the contrary therein, the Seller Parties and Purchaser Parties agree that the intracompany receivables with respect to
the Slovakia SPV (the “Slovakian Intracompany Receivables”) shall not be settled at or prior to Closing and shall instead be Transferred (by way of assignment of the applicable loan documentation) to the Purchaser Parties (and such
Transfer of the Slovakian Intracompany Receivables and related loan documentation shall constitute an asset Transfer for purposes of the Purchase Agreement, including that (i) the applicable Purchaser Party acquiring such Slovakian Intracompany
Receivables and related loan documentation shall be deemed to have made the representations and warranties set forth in Article IV of the Purchase Agreement with respect to the acquisition of such assets and (ii) the applicable Seller
Party Transferring such Slovakian Intracompany Receivables and related loan documentation shall be deemed to have made the representations and warranties set forth in Sections 3.1, 3.2, 3.3, 3.19 and 3.22 of the Purchase Agreement with respect to
the Transfer of such assets). The aggregate purchase price for the Slovakian Intracompany Receivables shall be equal to the aggregate amount of the Unadjusted Purchase Prices for the Slovakian Properties (which aggregate Unadjusted Purchase Prices
shall be adjusted in accordance with Section 1.2 and Section 1.4 of the Purchase Agreement) 

  

	 	d.	The Parties acknowledge and agree that, for U.S. federal income Tax purposes (and, where applicable, state, local, and foreign Tax purposes): (i) the applicable Purchaser Party of the Slovakian Intracompany
Receivables shall be treated as purchasing, and GE Capital Eireann Funding I shall be treated as selling, all rights, interest and obligations of GE Capital Eireann Funding I under that certain Revolving Credit Agreement, dated December 27,
2013 for an amount equal to €58,345,562; and (ii) the Transfer of the Purchaser Interests in Slovakia SPV shall be treated as a transaction governed by Rev. Rul. 99-6, whereby each of GE Capital Investment Holding B.V. and GE Real Estate
Czech Republic s.r.o. are treated as selling interests in Slovakia SPV for €1 and the applicable Purchaser Party acquiring the Purchased Interests in Slovakia SPV is treated as acquiring the assets of Slovakia SPV from each of GE Capital
Investment Holding B.V. and GE Real Estate Czech Republic s.r.o. 

  

	F.	Acquisition of GE Real Estate Developments Limited. The Seller Parties and the Purchaser Parties agree as follows: 

  

	 	a.	 The Purchaser Parties shall acquire the Interests in GE Real Estate Developments Limited (the “GERED” and the Interests therein, the
“GERED Interests”). The GERED shall be treated as a “Purchased Entity” for all purposes of the Purchase Agreement and the GERED Interests shall be treated as “Purchased Interests” for all purposes of the Purchase
Agreement. Schedules 1, 3.9(a), 3.9(b) and 3.9(c) to the Purchase Agreement shall be amended to add as 

	 	
additional information relating to the GERED and the GERED Interests, as set forth on Schedule B attached hereto, in each case, as if such information had been included on the applicable
schedule as of the date of the Purchase Agreement. 

  

	 	b.	The Purchaser Parties shall acquire the GERED Interests in lieu of purchasing the Property described as REUK London EC4 98 Fetter Lane & 12 Norwich Street on Schedule 2 of the Purchase Agreement (the
“Fetter Lane Property”). The Unadjusted Purchase Prices payable to the Seller Parties with respect to the GERED Interests, respectively, shall be the amount of the aggregate amount of the Unadjusted Purchase Price for the Fetter
Lane Property (which aggregate Unadjusted Purchase Price shall constitute the Unadjusted Purchase Price for the GERED Interests and shall be adjusted in accordance with Section 1.2 and Section 1.4 of the Purchase Agreement).
For the avoidance of doubt, the Property described as REUK Croydon 57 Croydon Road (Paynes Poppets) on Schedule 2 of the Purchase Agreement shall be Transferred to the Purchaser Parties prior to the acquisition of the GERED Interests by the
Purchaser Parties. 

  

	G.	Acquisition of Soldeva Grupo de Inversiones. The Seller Parties and the Purchaser Parties agree as follows: 

  

	 	a.	The Purchaser Parties shall acquire the Interests in Soldeva Grupo de Inversiones 2006, S.L. (“Soldeva” and the Interests therein, the “Soldeva Interests”). Soldeva shall be treated as
a “Purchased Entity” for all purposes of the Purchase Agreement and the Soldeva Interests shall be treated as “Purchased Interests” for all purposes of the Purchase Agreement. Schedules 1, 3.9(a), 3.9(b) and
3.9(c) to the Purchase Agreement shall be amended to add as additional information relating to Soldeva and the Soldeva Interests, as set forth on Schedule B attached hereto, in each case, as if such information had been included on the
applicable schedule as of the date of the Purchase Agreement. 

  

	 	b.	The Purchaser Parties shall acquire the Soldeva Interests in lieu of purchasing the Property described as “Cortefiel-Aranjuez, Sector XI (78064001); Paseo del Deleite, s/n, Aranjuez, ESP” on Schedule 2
of the Purchase Agreement (the “Soldeva Property”). The Unadjusted Purchase Prices payable to the Seller Parties with respect to the Soldeva Interests, respectively, shall be the amount of the amount of the Unadjusted Purchase Price
for the Soldeva Property (which Unadjusted Purchase Price shall constitute the Unadjusted Purchase Price for the Soldeva Interests and shall be adjusted in accordance with Section 1.2 and Section 1.4 of the Purchase
Agreement). 

  

	 	c.	 In addition, the Parties acknowledge and agree that Soldeva is currently the plaintiff/claimant in an Action known as “Juicio ordinario 984/2013,
First Instance Court n.92 of Madrid” pursuant to which Soldeva has claimed damages from is Lloyd’s Syndicate 4472 (the “Soldeva Proceeding”). The Parties hereby agree that, notwithstanding the Transfer of the Soldeva
Interests to applicable Purchaser Party, all right, title and interest relating to the Soldeva Proceeding (and any costs of any kind or proceeding relating thereto) shall be retained by the Seller Parties. In furtherance of the foregoing, within
five (5) Business Days following the applicable Closing Date with respect to the Transfer of the Soldeva Interests, Soldeva shall send a written notice to both the court representative (procurador) with respect to the Soldeva Proceeding
and the applicable counsel representing Soldeva in connection with the Soldeva Proceeding to inform such Persons of the matters described in this paragraph G.c. For so long as the Soldeva Proceeding remains outstanding, the Seller Parties shall have
the full right to determine, in their sole and absolute discretion, all actions to be taken in connection with the Soldeva Proceeding, including, without limitation, litigating, 

	 	
settling, waiving, compromising, appealing, challenging and/or enforcing the claim or parts of the claims related to the Soldeva Proceeding. In addition, in the event that any amounts become
payable to Soldeva in connection with the Soldeva Proceeding (whether by judgment, settlement or otherwise), all such amounts (net of any taxes, charges or fees due in connection with the collection thereof) shall be paid to the applicable Seller
Party as soon as reasonably practicable and in any event within fourteen days of receipt by Soldeva of such amounts (without deduction). For purposes of clarity, the Seller Parties shall bear all proper costs of any kind arising out of or in
connection with the Soldeva Proceeding. 

  

	H.	Section 5.5(a). The third sentence of Section 5.5(a) of the Purchase Agreement shall be amended and restated in its entirety as follows: 

“Except to the extent provided for in Section 5.5(b), Transfer Taxes arising as a result of the Transactions shall be for the
account of the Seller Parties, other than Transfer Taxes (if any) arising as a result of the Transactions set forth in Schedule 5.5(a); provided, however, that the Purchaser Parties shall bear EUR 5,000,000 of Transfer Taxes
relating to the transfer of French-situated Equity Entities or Properties otherwise to be borne by the Seller Parties under this Section 5.5, which amount shall be in addition to the amount of any Transfer Taxes which may be due on the
Transactions set forth on Schedule 5.5(a).” 
  

	I.	Section 5.5(c). The following shall be added to the Purchase Agreement as new Section 5.5(c) of the Purchase Agreement immediately following Section 5.5(b) of the Purchase Agreement:

 “In respect of European situated Equity Entities or Properties, any Transfer Taxes for the account of, or borne by,
the Seller Parties pursuant to this Section 5.5 shall be paid, (i) by a Seller Party directly to the relevant Tax Authority so far as permitted by applicable Laws, or (ii) where Transfer Taxes are required to be paid to the
relevant Tax Authority by a notary pursuant to applicable Laws, by the concerned Purchaser Party to such notary as part of the Unadjusted Purchase Price to the extent such Transfer Taxes are non-recoverable, or (iii) otherwise shall be paid to
a Purchaser Party for payment by such Purchaser Party to the relevant Tax Authority. Any Transfer Taxes for the account of, or borne by, the Purchaser Parties pursuant to this Section 5.5 (except for any Transfer Taxes to be borne by the
Purchaser Parties pursuant to Section 5.5(a) in respect of the transfer of French-situated Equity Entities or Properties) shall be paid, (x) by a Purchaser Party directly to the relevant Tax Authority so far as permitted by applicable
Laws, in which case the Unadjusted Purchase Price shall not be reduced by such Transfer Taxes, or (y) otherwise shall be paid to a Seller Party for Payment by such Seller Party to the relevant Tax Authority. Where a payment is required between
Parties pursuant to this Section 5.5(c), the Parties agree to use their respective Commercially Reasonable Efforts to ensure that payments are made between the Seller Party actually selling the relevant Purchased Interest, Transferred
Property or Purchased Commercial Loan and the Purchaser Party actually purchasing such relevant Purchased Interest, Transferred Property or Purchased Commercial Loan by way of an adjustment to the Unadjusted Purchase Price.” 

 

	J.	Section 5.6(d). For the avoidance of doubt, the term “refund”, as used in Section 5.6(d) of the Purchase Agreement, shall include refundable tax credits, such as the IRES credit, but
only to the extent the Purchaser Parties or the Seller Parties actually receive cash with respect to refundable tax credits (or a refundable tax credit offsets actual tax payable). 

	K.	Section 5.6(c). Section 5.6(c) of the Purchase Agreement shall be amended and restated in its entirety as follows: 

“The Seller Parties shall prepare all Tax Returns of the Purchased Entities and any Subsidiaries thereof for periods ending on or prior
to the applicable Closing Date (“Pre-Closing Tax Periods”). All such Tax Returns shall be prepared consistent with the past practices of the Seller Parties unless otherwise required by applicable law. Regarding any such Tax Returns
prepared after the Closing Date (except for (x) any Tax Returns to be filed with a Tax Authority in Mexico with respect to income (the “Mexico Tax Returns”), and (y) any Tax Returns related to value added Taxes (the
“VAT Tax Returns”)), the Seller Parties shall deliver, or cause to be delivered, to the Purchaser Parties a draft of each such Tax Return (on a stand-alone pro forma basis) at least thirty (30) days before the due date for
filing, including any applicable extensions (unless the applicable due date is less than sixty (60) days after the Closing Date, in which case the Seller Parties shall deliver, or cause to be delivered, to the Purchaser Parties such draft Tax
Returns within a reasonable time prior to filing). The Purchaser Parties shall have fifteen (15) days from the receipt thereof to provide the Seller Parties with any comments or proposed adjustments to such draft Tax Returns for the Pre-Closing
Tax Periods, and any such comments or proposed adjustments shall be considered by the Seller Parties in good faith. Regarding any such Mexico Tax Returns or VAT Tax Returns prepared after the Closing Date, the Seller Parties shall deliver, or cause
to be delivered, to the Purchaser Parties a draft of each such Mexico Tax Return or VAT Tax Return (on a stand-alone pro forma basis) at least five (5) Business Days before the due date for filing, including any applicable extensions (unless
the applicable due date is less than five (5) Business Days after the Closing Date, in which case the Seller Parties shall deliver, or cause to be delivered, to the Purchasing Parties such draft Mexico Tax Returns or VAT Tax Returns within a
reasonable time prior to filing). The Purchaser Parties shall have three (3) Business Days from the receipt thereof to provide the Seller Parties with any comments or proposed adjustments to such draft Mexico Tax Returns or VAT Tax Returns for
the Pre-Closing Tax Periods, and any such comments or proposed adjustments shall be considered by the Seller Parties in good faith. The Seller Parties shall timely file, or cause to be timely filed, such Tax Returns (including Mexico Tax Returns and
VAT Tax Returns) for the Pre-Closing Tax Periods and timely pay, or cause to be timely paid, all Taxes shown as due thereon.” 
  

	L.	Section 5.8(a). Section 5.8(a) of the Purchase Agreement shall be amended and restated in its entirety as follows: 

“Except (i) as otherwise provided in this Section 5.8(a), (ii) as set forth on Schedule 5.1(i)(E), or
(iii) pursuant to an Alternative Transaction undertaken in accordance with Section 1.5 (specifically including any requirements for consent set forth therein), no election pursuant to Section 338(g) of the Code (or any
corresponding provision of state, local, or foreign Tax Law) shall be made with respect to the Transactions contemplated by this Agreement without the prior written consent of the applicable Purchaser Parties and applicable Seller Parties. Any
request by any Party to make such election shall be given good faith consideration by the other Party. Notwithstanding anything to the contrary in this Section 5.8(a), the applicable Purchaser Parties shall make a valid and timely
election under Section 338(g) of the Code for SOFOM and shall not assign any rights or obligations under this Agreement in such a manner that could reasonably be expected to prevent such election from being valid, effective or timely. Any state
or local Transfer Taxes that arise as a result of any election under Section 338(g) of the Code with respect to the Transactions contemplated hereunder shall be governed by Section 5.5 hereof.” 

 

	M.	Commercial Backlog Assets. The second sentence of Section 5.23 of the Purchase Agreement shall be amended and restated in its entirety as follows: 

“In the event that the Seller Parties elect to fund or sell any Commercial Loan Backlog prior to an applicable Closing (each a
“Backlog Asset”), the Purchaser Parties shall have the right, but not the obligation, to acquire such Backlog Asset in accordance with the terms of this Agreement.” 

	N.	Exercise of Option. The Parties acknowledge and agree that the requirement in Section 6.1 of the Purchase Agreement that the Option be exercised with respect to “all (but not less than all)”
was not intended to (a) restrict the sale, disposition or Transfer of the Property listed as “Artemis – Leipzig (LEP)” on Schedule 3 (the “Leipzig Property”), or (b) eliminate the ability of the
Seller Parties to exercise the Option in the event of the sale, disposition or Transfer of the Leipzig Property. As such, for purposes of clarity, Section 6.1 of the Purchase Agreement shall be amended to add the following sentence as
the final sentence of Section 6.1 of the Purchase Agreement: 

 “Notwithstanding anything to the contrary
contained herein, the sale, disposition or Transfer of the Property listed as “Artemis - Leipzig (LEP)” on Schedule 3 (the “Leipzig Property”) shall not prevent any right of Seller to exercise the Option in
accordance with the terms of this Section 6.1 and the Option shall remain exercisable during the Option Period following the sale, disposition or other Transfer of any of the Leipzig Property.” 

 

	O.	Deferred Assets. 

  

	 	a.	A new Section 7.1(a)(iii) is hereby added to the Purchase Agreement as follows: 

“In the event at any applicable Closing of a Purchased Interest with Underlying Properties located in the United States, a Purchased
Entity owns an Excluded Asset and one or more other Underlying Properties, then, in such case, the applicable Purchased Interest shall be deemed a Deferred Asset until the earlier of (1) such time as the Purchased Entity no longer owns the
Excluded Asset, or (2) the Seller Parties and the Purchaser Parties have agreed to an alternative manner of Transferring the Purchased Interests or Underlying Properties that are not Excluded Assets to the applicable Purchaser Parties (subject
to any required consent of the Operating Partner) (the “Alternative Purchased Interest Structure”).” 
  

	 	b.	A new Section 7.1(b)(iii) is hereby added to the Purchase Agreement as follows: 

“With respect to any Purchased Entity that owns Underlying Property located in the United States, in the event an Alternative Purchased
Interest Structure is agreed to prior to the Closing Notice Date or the Seller Parties have notified the Purchaser Parties in writing on the Closing Notice Date that a Purchased Interest in a Purchased Entity can be Transferred and such Purchased
Entity does not own any Excluded Assets, the applicable Deferral Condition shall be deemed satisfied. In the event the applicable Excluded Assets have not been Transferred from the applicable Purchased Entity on or prior to the Closing Notice Date
or an Alternative Purchased Interest Structure has not been agreed to, but the applicable Excluded Assets have been transferred from the applicable Purchased Entity prior to the Closing Date to which the Closing Notice Date relates or an Alternative
Purchased Interest Structure has been agreed to, the Purchaser Parties shall have the option to, but will not be required to, close the Transfer of the applicable Purchased Interest on such Closing Date. If the Purchaser Parties do not elect to
close the Transfer on such Closing Date, subject to the terms and conditions of this Agreement, the Closing with respect to such Purchased Interest shall be deferred until the next occurring Deferred Closing Date. With respect to any such deferred
Purchased Interest with respect to which an Operating Partner has executed a consent, the Buy-Sell Discussion Period shall be delayed and in the event a Closing with respect to such 

 
Purchased Interest has not occurred or an Alternative Purchased Interest Structure is not agreed to on or before October 31, 2015 (except to the extent that the applicable Operating Partner
is in breach or default of its obligations under the applicable consent related to the Transactions, in which case, the applicable date shall be the date of such breach or default), the Buy-Sell Discussion Period shall begin on October 31, 2015
and the provisions of Section 7.1(c) shall be applicable (except to the extent that the applicable Operating Partner is in breach or default of its obligations under the applicable consent related to the Transactions, in which case, the
applicable date shall be the date of such breach or default).” 
  

	 	c.	Section 2.3(f)(i) of the Purchase Agreement shall be amended and restated as follows: 

“Upon receipt of the notice described in Section 2.3(c), the Seller Parties shall have the right, by the date that is ten
(10) Business Days after receipt of notice of such Title Objection (or no later than five (5) Business Days prior to the applicable Closing Date, unless the applicable notice of such Title Objection is provided within five
(5) Business Days of the applicable Closing Date) or such other date as expressly provided herein, by written notice to the Purchaser Parties with respect to each Property affected by any such Material Title Exceptions, to elect to cure such
Material Title Exception in accordance with Section 2.3(h). If the Seller Parties (x) do not elect to cure any Material Title Exception, or (y) in the event the Seller Parties have elected to cure any Material Title Exception
and fail to cure in accordance with Section 2.3(h) by the applicable Closing Date, the Purchaser Parties shall have the election to either (A) terminate this Agreement with respect to such Purchased Commercial Loan, Transferred
Property, Purchased Entity (if such Purchased Entity owns Underlying Property located outside of the United States) or Underlying Property (if such Underlying Property is located in the United States), in which case such Purchased Commercial Loan,
Transferred Property, Purchased Entity or Underlying Property shall be deemed an Excluded Asset, or (B) proceed to Closing with respect to the affected Transferred Property, Purchased Commercial Loan or Purchased Interest; provided, however,
that, in the event that the Seller Parties have elected to cure any such Material Title Exception, then the Purchaser Parties shall not be entitled to terminate this Agreement with respect the applicable Purchased Commercial Loan, Transferred
Property or Purchased Interests for so long as the Seller Parties shall be using their Commercially Reasonable Efforts to cure such Material Title Exception or any Debt Removal Exception.” 

 

	 	d.	Section 1.1(d) of the Purchase Agreement is hereby amended by adding the words “Underlying Property,” after the words “Transferred Property,” in the first line thereof. 

 

	P.	Specific Venture Buy-Sells. The Seller Parties and the Purchaser Parties agree as follows: 

  

	 	a.	 for the Purchased Interests listed on Schedule 1 of the Purchase Agreement with respect to the Purchased Entities known as “CCS FUNDING,
LLC”, the reference to “May 31, 2015” in Section 7.2(c)(i) of the Purchase Agreement shall be changed to “June 30, 2015 (except to the extent that an agreement (the “CCS Funding Transfer Agreement”)
with respect to the sale or Transfer of the interests in the CCS Funding, LLC joint venture to the Operating Partner thereof has been executed on or prior to June 30, 2015, in which case, the applicable Buy-Sell Discussion Period shall commence
on the earlier of (i) August 31, 2015, and (ii) the date that is fifteen (15) days following the termination or expiration of the CCS Funding Transfer Agreement).” For the avoidance of doubt, and notwithstanding anything to
the contrary contained in the Purchase Agreement, (x) the Purchaser Parties shall not have any obligation to acquire the Properties held by the CCS Funding, LLC joint venture or any Purchased Interest in such joint venture unless either
(A) the Autumn Creek Property is included in such 

	 	
sale or (B) the Autumn Creek Property has been sold and any excess proceeds thereof delivered to the Purchaser Parties in accordance with the Sale Consent, (y) subject to clause (x), if
the Seller Parties have the right to take control of the CCS Funding, LLC joint venture as of August 31, 2015, the Properties owned directly or indirectly by the CCS Funding, LLC (or otherwise distributed to the Seller Parties) shall be deemed
Transferred Properties and the Seller Parties shall cause the Transfer such Transferred Properties to the Purchaser Parties on the next applicable Deferred Closing Date (or such later Deferred Closing Date on which all consents have been received
for the Seller Parties to Transfer such Properties to the Purchaser Parties), and (z) if the Seller Parties do not have the right to take control of the CCS Funding, LLC and CCS Funding, LLC has either sold the Autumn Creek Property and
delivered proceeds thereof to the Purchaser Parties pursuant to the consent executed by Seller Parties and Purchaser Parties as of the date hereof (the “Sale Consent”) or the Autumn Creek Property is still owned by the CCS Funding,
LLC joint venture. 

  

	 	b.	in the event the Seller Parties and the Purchaser Parties enter into a consent with the partner in JPI Lifestyle Apartment Communities, L.P. (the “JPI JV”) pursuant to the terms of which the Seller
Parties and the partner in the JPI JV agree to Transfer the Underlying Properties in the JPI JV in fee, such Underlying Properties shall be considered Transferred Properties for all purposes under the Purchase Agreement, excluding the provisions of
Article III and Section 5.1 thereof. In connection with the foregoing, if, the consent of the ground lessor with respect to the Underlying Property known as Jefferson at Inigo Crossing (the “Inigo Property”) is not obtained and
pursuant to any consent signed with respect to the JPI JV, the JPI JV transfers to the Purchaser Parties the interests the JPI JV holds in the Equity Entity that holds a real estate interest in the Inigo Property, such Underlying Property shall
remain an Underlying Property and the interests in the Equity Entity that holds a real estate interest in such Underlying Property shall be considered Purchased Interests for all purposes under this Agreement, excluding the provisions of Article III
and Section 5.1 hereof. 

  

	 	c.	the reference to “May 31, 2015” in Section 7.2(c)(i) of the Purchase Agreement shall be changed to “July 16, 2015”. 

 

	Q.	Italian SGR Closing. The following shall be added to the Purchase Agreement as new Section 7.4 of the Purchase Agreement immediately following Section 7.3 of the Purchase Agreement:

 “7.4 Italian SGR. The Parties acknowledge and agree that (a) the Purchaser Parties intend, pursuant to
Section 12.9 hereof, to designate as a Purchaser Party Designee of those certain Properties listed as Rome – via Veneziani A B C D and Medici – Milan – via Cardano on Schedule 2 (collectively, the “Italian
SGR Assets”) a newly formed real estate fund (the “New Fund”) that will be created and managed by an Italian regulated asset management company (società di gestione del risparimio) (the
“SGR”), approved and duly enrolled with the register kept by the Bank of Italy, and (b) the New Fund will not be established and be fully operational before the Initial Equity Closing Date. The Seller Parties and the Purchaser
Parties hereby agree that (i) the Purchaser Parties hereby waive (x) all rights to designate the Italian SGR Assets as “Designated Equity Assets” under this Agreement, (y) other than with respect to any Material Title
Exception caused by the Seller Parties or their Affiliates after July 14, 2015, all rights and remedies under Section 2.4 with respect to the Italian SGR Assets, and (z) all rights and remedies related to the termination of the
Agreement with respect to the Italian SGR Assets under Section 2.3 as a result of any Material Title Exception; (ii) the Purchaser Parties hereby waive as of the Initial Equity Closing Date each of the conditions under Section 9.4(a)
with respect to the Italian SGR Assets and in no event shall the Purchaser Parties be entitled to delay the Deferred Closing on the Italian SGR Assets 

 
as a result of the failure of such condition to be satisfied; (iii) as of the Initial Equity Closing Date, the Italian SGR Assets shall constitute Deferred Assets for purposes of this
Agreement; and (iv) as of each Deferred Closing Date occurring after the Initial Equity Closing Date, the Italian SGR Assets shall continue to constitute Deferred Assets unless the Purchaser Parties shall have previously provided notice to the
Seller Parties that the New Fund has been established and is fully operational, provided, however, that, notwithstanding anything to the contrary in this Agreement, the Deferred Closing with respect to the Italian SGR Assets shall
occur no later than September 30, 2015 (regardless of whether the New Fund and SGR have been established and has become fully operational and regardless of whether a Deferred Closing is otherwise scheduled for September 30, 2015), which
date may be extended to October 31, 2015 in the Seller Parties’ sole discretion.” 
  

	R.	Italian Retail Closing. The following shall be added to the Purchase Agreement as new Section 7.4 of the Purchase Agreement immediately following Section 7.3 of the Purchase Agreement:

 “7.5 Italian Retail. The Seller Parties have requested that, in lieu of the Purchaser Parties purchasing the
Purchased Interests described as Gran Commercio Srl on Schedule 1 of the Purchase Agreement, the Purchaser Parties instead acquire the Interests in GE Real Estate Italia Retail S.r.l (“GE Italia” and the Interests therein,
the “GE Italia Interests”) on August 5, 2015 (the “Italian Retail Closing Date”). The Seller Parties shall provide all Diligence Materials in respect of GE Italia as reasonably requested by the Purchaser
Parties, and the Purchaser Parties shall perform due diligence on GE Italia. If such diligence is completed to the satisfaction of the Purchaser Parties (in their sole and absolute discretion) prior to the Italian Closing Date, then the Parties
agree that the Purchaser Parties shall acquire the GE Italia Interests on the Italian Closing Date and the Parties shall enter into any agreements (including any side letters or amendments to the Purchase Agreement) required to memorialize such
purchase. If such diligence is not complete to the satisfaction of the Purchaser Parties by the Italian Closing Date, then either (a) the Parties shall defer the Italian Closing Date to a date mutually agreed upon by the parties or (b) the
Purchaser shall purchase the Purchased Interests described as Gran Commercio Srl, as originally contemplated in the Purchase Agreement, on the Italian Closing Date. 
  

	S.	Initial Debt Closing Date. Section 9.1(a) and Section 9.1(b) of the Purchase Agreement shall be amended and restated in their entirety as follows: 

“(a) The Initial Debt Closing Date occurred on May 20, 2015. 

(b) The Initial Equity Closing shall occur on July 15, 2015 (the “Initial Equity Closing Date”). For purposes of this
Agreement the “Applicable Initial Closing Date” shall mean the Initial Equity Closing Date or the Initial Debt Closing Date as the context requires.” 
  

	T.	Certain Governmental and Regulatory Approvals. 

  

	 	a.	The following shall be added to the Purchase Agreement as a new sentence at the end of Section 9.2(a)(ii) of the Purchase Agreement: 

“For the avoidance of doubt, it shall be a condition to each Party’s obligation to effect the Transaction in respect of the Property
listed as Silver Forum; ul. Strzegomska 2-4, Wroclaw, Poland on Schedule 2 (the “Polish Property”) that either (x) a tax ruling by the applicable Polish tax authorities shall have been issued to each of the Purchaser
Parties and the Seller Parties (the “Polish Tax Rulings”), or (y) the applicable waiting period under the applicable Polish tax regulations (plus five (5) extra Business Days) shall have expired.” 

	 	b.	For purposes of this Section, a “Negative Ruling” means a Polish Tax Ruling which does not acknowledge the interpretation of the sale presented in a Party’s application submitted to the Polish tax
authorities prior to the date hereof. In the event that one (but not both) of the Polish Tax Rulings is a Negative Ruling, the Parties acknowledge and agree that in such case (1) the Seller Parties shall issue a VAT invoice to the Purchaser
Parties and the Purchaser Parties shall pay such amount to the Seller Parties and the Seller Parties shall pay such amount to the applicable Polish tax authorities and (2) the Purchaser Parties shall also pay an amount equal to the transfer tax
due pursuant to the Negative Ruling to the applicable Polish tax authorities. The Seller Parties shall pay an amount equal to the amount of such transfer tax to the Purchaser Parties as per the relevant Closing Statement in respect of the Polish
Property pursuant to which the net proceeds receivable by the Seller Parties shall be the Unadjusted Purchase Price less such transfer tax. 

  

	 	c.	In the event that either or both of the Polish Tax Rulings is a Negative Ruling, the Parties agree to use commercially reasonable efforts to (i) appeal (and to cooperate with each other to appeal) any Negative
Ruling, (ii) cooperate with each other to obtain refunds of any Taxes found to not have been due and payable following any such appeal (whether such Taxes constitute transfer taxes or VAT). 

 

	 	d.	(i) If at any time the Seller Parties receive a refund of VAT paid on the transaction, the Seller Parties agree to pay such amount to the Purchaser Parties, and (ii) if at any time the Purchaser Parties receive a
refund of transfer taxes paid on the transaction, the Purchaser Parties agree to pay such amount to the Seller Parties, provided that in respect of either (i) or (ii) above, the Parties agree to consult with one another regarding the most
efficient method to make such payments. Further, the Purchaser Parties shall not be liable to pay VAT to the extent the Transfer of the Polish Property is found as a result of both of the final Polish Tax Rulings or appeals to be subject to Transfer
Tax unless such VAT has already been paid to the tax authorities and a refund is not successfully obtained after each party using commercially reasonable efforts. 

 

	U.	Certain Deferred Closing Dates with respect to Purchased Commercial Loans. Pursuant to Section 9.5(b) of the Purchase Agreement, the Seller Representative (on behalf of the Seller Parties) and the
Purchaser Representative (on behalf of the Purchaser Parties) mutually acknowledge and agree that (in addition to any other Deferred Closing) a Deferred Closing with respect to Purchased Commercial Loans occurred on each of the following dates:
May 28, 2015, June 4, 2015, June 11, 2015, June 23, 2015, June 30, 2015 and July 9, 2015. 

  

	V.	Outside Debt Date. Clause (x) of Section 10.4(c) of the Purchase Agreement shall be amended and restated in its entirety as follows: 

“(x) with respect to any Purchased Commercial Loan, the applicable Deferred Closing shall not have occurred on or prior to the Outside
Debt Date (or, in the case of any Purchased Commercial Loans in France, the date that is the later of (A) thirty (30) days following the conclusion of the consultations with the Works Councils or Employee Representative Bodies in France,
and (B) thirty (30) days following the receipt of all applicable approvals under Antitrust Laws (but, in no event, later than March 31, 2016));” 

	W.	Outside Equity Asset Date. Clause (y) of Section 10.4(c) of the Purchase Agreement shall be amended and restated in its entirety as follows: 

“(y) with respect to any Equity Asset, the applicable Deferred Closing shall not have occurred on or prior to the Outside Equity Date (or
(1) in the case of Equity Assets in France, the date that is the later of (A) thirty (30) days following the conclusion of the consultations with the Works Councils or Employee Representative Bodies in France, (B) thirty
(30) days following the receipt of all applicable approvals under Antitrust Laws, and (C) thirty (30) days following the receipt or waiver of any applicable Pre-Emptive Rights with respect to the applicable Equity Assets (but, in no
event, later than March 31, 2016), or (2) in the case of any Equity Assets that are Purchased Interests with respect to which the Buy-Sell Discussion Period commences on or after July 16, 2015, the later of (i) February 15,
2016, and (ii) the earlier of (a) the date on which the applicable Purchased Interest is transferred to the Operating Partner, or (b) if a Seller Party takes ownership of the applicable Underlying Properties and such Underlying
Properties become Transferred Properties, the date on which all consents have been received for the Seller Parties to Transfer such Properties to the Purchaser Parties).” 
  

	X.	Section 11.3. Section 11.3 of the Purchase Agreement shall be amended to add the following as new Section 11.3(g): 

“(g) Post-Closing Taxes.” 
  

	Y.	Section 11.4. Section 11.4 of the Purchase Agreement shall be amended and restated in its entirety as follows: 

“The Parties agree that any indemnification payments made with respect to this Agreement shall be treated for all Tax purposes as an
adjustment to the Unadjusted Purchase Price, unless otherwise required by Laws (including by a determination of a Tax Authority that, under applicable Laws, is not subject to further review or appeal). The Parties agree to use their respective
Commercially Reasonable Efforts to ensure that any such payments are made between the Seller Party actually selling the relevant Purchased Interest, Transferred Property or Purchased Commercial Loan and the Purchaser Party actually purchasing such
relevant Purchased Interest, Transferred Property or Purchased Commercial Loan.” 
  

	Z.	Section 12.9. Section 12.9 of the Purchase Agreement shall be amended and restated in its entirety as follows: 

“This Agreement will be binding upon, inure to the benefit of, and be enforceable by, the Parties and their respective permitted
successors and permitted assigns. Neither this Agreement, nor any of the rights, interests or obligations under this Agreement, may be assigned or delegated, in whole or in part, by operation of law or otherwise by any of the Parties without the
prior written consent of the other Parties. Any attempted or purported assignment in violation of this Section 12.9 shall be null and void and of no force or effect. Notwithstanding the foregoing, (a) the Seller Parties shall have
the right to assign or delegate, in whole or in part, by operation of law or otherwise, any of its rights, interests or obligations under this Agreement to any Affiliate of the Seller Parties, provided that no such assignment or delegation
shall release any Seller Party from its obligations hereunder; (b) the Purchaser Parties shall have the right to designate one or more Purchaser Party Designees as an assignee or delegatee of any of its rights, interests or obligations under
this Agreement on or at any time following the date hereof, and such Purchaser Party Designees shall purchase, acquire 

 
and take title to any or all of the Purchased Interests, Transferred Properties or Purchased Commercial Loans by notice to the Seller Parties given at least ten (10) Business Days prior to
the Closing, provided that there is no increase in the costs borne by the Seller Parties under Section 12.13 (unless paid by the Purchaser Parties); and provided further that no such assignment or delegation shall
release any Purchaser Party from its obligations hereunder; and (c) the Purchaser Parties shall have the right to collaterally assign their rights in this Agreement to any lender.” 

 

	AA.	Exhibit A. 

  

	 	a.	Exhibit A to the Purchase Agreement shall be amended to add the following definitions to Exhibit A of the Purchase Agreement in alphabetical order: 

““Post-Closing Taxes” means any and all liability for income Taxes (including, for the avoidance of doubt, penalties and
interest imposed in connection with such Taxes) of Soldeva Grupo DE Inversiones 2006 SL (including secondary liability for such Taxes imposed on GE Real Estate Iberia S.A.) for any period beginning after the applicable Closing Date and the portion
of any Straddle Tax Period beginning on the Closing Date (except to the extent such Taxes are accounted or adjusted for in a proration, calculation or other adjustment under Section 1.4) to the extent such liability for such Taxes relates to or
arises as a result of the denial by applicable Tax Authorities of Tax deductions for interest expenses incurred in connection with the Revolving Credit Agreement dated July 13, 2015 by and between SOLDEVA GRUPO DE INVERSIONES 2006, S.L., as
borrower, and GE REAL ESTATE IBERIA, S.A., as lender, or in connection with any future loan or credit agreement to be granted to SOLDEVA GRUPO DE INVERSIONES 2006, S.L. that refinances such Revolving Credit Agreement.” 

 

	 	b.	The definition of “Excluded Liabilities” set forth on Exhibit A to the Purchase Agreement is hereby amended to add the following as clauses (f) and (g) of such definition:

 “(f) relating to any Action alleging that any necessary corporate approvals required to Transfer certain Properties
directly or indirectly owned by General Electric Real Estate Iberia, S.A. to the applicable Purchaser Parties were not properly obtained. 

(g) relating to the Soldeva Proceeding.” 
  

	BB.	Schedule 3.8(a). Schedule 3.8(a) to the Purchase Agreement shall be amended and restated in its entirety as set forth on Schedule A attached hereto. 

 

	CC.	Confidentiality Agreement. The date of the Confidentiality Agreement described in Section 5.4(a) of the Purchase Agreement shall be amended to correctly reflect that the date of such Confidentiality
Agreement is “March 11, 2015”. 

  

	DD.	Designation of Purchased Commercial Loans. In accordance with Section 12.9 of the Purchase Agreement (and subject to the terms and conditions thereof), the Purchaser Parties hereby designate
(i) the one or more direct or indirect subsidiaries of Blackstone Mortgage Trust Inc. as set forth on Schedule D to acquire the Purchased Commercial Loans set forth on Schedule D, and (ii) one or more direct or indirect
subsidiaries of the fund commonly known as Blackstone Real Estate Debt Strategies (or an alternative investment vehicle thereof) to acquire the Purchased Commercial Loans set forth on Schedule E (the “BREDs Loans”). The
Purchaser Parties shall provide the Seller Parties with the names of the entity that will acquire each BREDs Loan at least three (3) Business Days prior to the applicable Closing. 

	EE.	Designation of Kimco. In accordance with Section 12.9 of the Purchase Agreement (and subject to the terms and conditions thereof), the Purchaser Parties hereby designate Strategic Partners Real Estate
VI Investments, L.P. (Series A) or one or more direct or indirect subsidiaries thereof to acquire the Kimco Interest. 

  

	FF.	Insurance Cooperation. From the date hereof until, with respect to any Purchased Commercial Loan in the United States, the date that is sixty (60) days following the Closing of such Purchased Commercial Loan
(but in no event later than August 31, 2015) (such period, the “Insurance Cooperation Period”), the Seller Parties hereby agree (solely to the extent the Seller Parties have the ability to take such action under the applicable
insurance policy and have personnel available to assist with such matter) to reasonably cooperate with the Purchaser Parties during the applicable Insurance Cooperation Period with respect to any insurance matters requested by the Purchaser Parties
to be taken (including delivery of all notices received by the Seller Parties from an insurance carrier and cooperation is making and settlement of claims) in connection with such Purchased Commercial Loan in the United States. The obligations of
the Seller Parties in this Paragraph FF shall survive the Closing until the expiration of the Insurance Cooperation Period. 

  

	GG.	Determination of GECC Composite Commercial Paper Rate. Following the Closing of the Purchased Commercial Loan commonly known as “Carlyle MHP Portfolio”, for so long as such Purchased Commercial Loan
provides for the calculation of interest based on the “GECC Composite Commercial Paper Rate” and such rate is available, the Seller Parties hereby agree that within (five) 5 Business Days of the applicable Closing and by the 5th day of
each calendar month thereafter until the maturity date of such Purchased Commercial Loan to provide the Purchaser Parties the information necessary to complete such calculation. The obligations of the Seller Parties in this Paragraph GG shall
survive the Closing. 

  

	HH.	6060 Office Building Extension Fee. The Seller Parties and the Purchaser Parties acknowledge and agree that in connection with the Closing of the Purchased Commercial Loan commonly known as “6060 Office
Building” (the “6060 Loan”) the Purchaser Parties received a credit equal to (i) $124,704.12, representing twenty-five percent (25%) of the exit fee that the Obligor under the 6060 Loan paid to the applicable Seller
Party in connection with the extension/modification of the 6060 Loan and (ii) $41,864.27, representing the extension fee previously paid to the applicable Seller Party by the Obligor under the 6060 Loan. 

 

	II.	Certain Cooperation. From and after the applicable Closing Date until December 31, 2015, but only for so long as the Purchaser Parties have an interest in and the ability to Control such Equity Asset or
Purchased Entity, with respect to any Equity Asset or Purchased Commercial Loan (which in the case of the Purchased Commercial Loans shall be limited to legal fees and other third-party borrower-reimbursable costs incurred by the Seller Parties
prior to the Closing of the applicable Purchased Commercial Loan), the Purchaser Parties shall (a) reasonably cooperate with the Seller Parties to invoice and accept payments from the applicable third party in connection with such invoice
(without any obligation to engage a collection agency, send any demand notice (it being agreed that an invoice shall not constitute a demand notice), sue any third party, exercise any legal remedies under any applicable Contract or incur any
expenses (other than de minimis expenses) over and above the expense of invoicing) any amounts payable by an Obligor or other third party to the Seller Parties or any Equity Entity for periods prior to the applicable Closing Date with respect to the
Transferred Equity Asset or Purchased Commercial Loan, and (b) to the extent that any such amounts are received by any Purchaser Party or Affiliate thereof and the Seller Parties are entitled to such amounts under the Agreement, to promptly pay
such amounts to the applicable Seller Party. 

	JJ.	Cooperation Regarding Certain Guarantees. For a period of six (6) months after the applicable Closing Date with respect to the Transfer of the GERED Interests to the applicable Purchaser Party, the Purchaser
Parties shall continue to cooperate with the Seller Parties, and use their commercially reasonable efforts, to cause the beneficiary of that certain guarantee dated 23 December 2013 (the “Fetter Lane Guarantee”) of GE Capital
Corporation (Investment Properties) Limited (the “Fetter Lane Guarantor”) as guarantor in favour of Macfarlanes LLP as beneficiary in relation to the obligations of GERED under an agreement for lease relating to the lower ground,
upper ground and first to fourth floors (inclusive), 98 Fetter Lane, London EC4 to release, novate or otherwise discharge in writing GE Capital Corporation (Investment Properties) Limited from all of its obligations under such Fetter Lane Guarantee
(the “Fetter Lane Release”) first arising or accruing from and after the Closing Date. Such cooperation shall include, without limitation, the execution by the applicable Purchaser Party or Affiliate thereof (the
“Replacement Guarantor”) of a replacement guarantee on the same terms as the existing Fetter Lane Guarantee, it being acknowledged and agreed that any such Replacement Guarantor shall be Kensington UK Holdco Sarl or, at the option
of the Purchaser Parties, an entity which has equivalent financial substance to Kensington UK Holdco Sarl and the identity of which shall have been approved by Macfarlanes LLP. In addition, within three (3) Business Days of the Closing on the
Fetter Lane Property (or Purchased Interests relating thereto) (the “Fetter Lane Closing”), Kensington UK Holdco Sarl (the “Fetter Lane Indemnitor”) and the Fetter Lane Guarantor shall enter into a side letter
pursuant to which the Fetter Lane Indemnitor shall indemnify the Fetter Lane Guarantor in respect of all Liabilities first arising or accruing under the Fetter Lane Guarantee after the Fetter Lane Closing, which indemnification obligation shall
automatically terminate upon the occurrence of the Fetter Lane Release. 

  

	KK.	Seller Parties’ Cooperation. The following shall be added to the Purchase Agreement in Section 2.3(d) of the Purchase Agreement as an additional sentence at the end of Section 2.3(d)
of the Purchase Agreement: 

 “Notwithstanding the foregoing or anything to the contrary contained in this Agreement, in
no event shall any Seller Party be required to provide to the Title Company or any Purchaser Party any title affidavit, certification or indemnity in connection with any “non-imputation” endorsement or otherwise with respect to any
Property that is Transferred to any of the Purchaser Parties or any Affiliates thereof by any Joint Venture or any Subsidiary thereof and for which a consent was executed by the applicable JV partner.” 

 

	LL.	Notices. The notice information for the Purchaser Parties set forth in Section 12.4 of the Purchase Agreement is hereby amended and restated in its entirety as follows: 

“if to the Purchaser Parties to: 

c/o The Blackstone Group 
 345
Park Avenue, 42nd Floor 
 New York, New York 10154 

Attention: William Stein and Judy Turchin 

Facsimile: 212-583-5202 

 with a copy (which shall not constitute notice) to: 

Simpson Thacher & Bartlett LLP 

425 Lexington Avenue 
 New York,
New York 10154 
 Attention: Krista Miniutti 

Facsimile: 212-455-2502” 
  

	MM.	Schedule A-3(a). Schedule A-3(a) to the Purchase Agreement shall be amended and restated in its entirety as set forth on Schedule G attached hereto. 

 

	NN.	Certain Equity Assets. Schedule 1 to the Purchase Agreement shall be amended such that the Unadjusted Asset Purchase Price Amounts for each of the Equity Assets described on Schedule H-1 attached
hereto shall be replaced with the Unadjusted Asset Purchase Price Amount set forth opposite the name of each such Equity Asset on Schedule H-1 attached hereto. Schedule 2 to the Purchase Agreement shall be amended such that the
Unadjusted Asset Purchase Price Amounts for each of the Equity Assets described on Schedule H-2 attached hereto shall be replaced with the Unadjusted Asset Purchase Price Amount set forth opposite the name of each such Equity Asset on
Schedule H-2 attached hereto. 

  

	OO.	Free Rent Credit. The Seller Parties and the Purchaser Parties hereby agree that notwithstanding anything to the contrary in the Purchase Agreement (including, without limitation, Section 1.4(h)(i) of the
Purchase Agreement), (i) the credit the Purchaser Parties shall receive for free rent obligations with respect to all Equity Assets other than the Option Assets shall be $20,000,000, which amount (x) shall be credited to the Purchaser
Parties at the Initial Equity Closing against the amounts otherwise payable by the Purchaser Parties to the Seller Parties and (y) shall be allocated $17,500,000 to one or more Equity Assets situated in the United States and $2,500,000 (or the
equivalent amount in local currency) to one or more Equity Assets situated in Europe and (ii) the credit the Purchaser Parties shall receive for free rent obligations with respect to each Option Asset shall be two-thirds of the free rent
obligations that would otherwise be credited to the Purchaser Parties pursuant to the Purchase Agreement, which amount shall be credited to the Purchaser Parties at the Closing of the applicable Option Asset. Except for the adjustments described in
clause (i) and clause (ii) of this Paragraph OO, there shall be no further credits or adjustments of any kind at any time with respect to free rent obligations pursuant to Section 1.4(h)(i) of the Purchase Agreement or
otherwise with respect to any Equity Assets (other than Option Assets pursuant to clause (ii)) and the applicable free rent credit for all Equity Assets (other than Option Assets) shall not be subject to true-up, arbitration or dispute of any kind.

  

	PP.	Exhibit B. Exhibit B to the Purchase Agreement shall be supplemented by adding the “Supplement to Exhibit B-Employment Matters” attached hereto as Schedule I (the “Supplement”).
For the avoidance of doubt, the Supplement is entered into by the Seller Parties and their respective Affiliates and Wells Fargo Bank NA and/or any of its Affiliates, as a Purchaser Party Designee under the Purchase Agreement (“Wells
Fargo”) only and all other Purchaser Parties (and their respective Affiliates) are not party to this Supplement. Notwithstanding anything contained in the Supplement to the contrary, the rights and obligations of the Purchaser Parties
(other than Wells Fargo) pursuant to the Purchase Agreement (including Exhibit B thereto) shall not be affected by the terms of this Supplement. 

  

	QQ.	Schedule 5.5(b). Section 9 of the subsection of Schedule 5.5 (b) of the Purchase Agreement entitled “UK Tax Matters” shall be amended and restated as follows: 

“9. The Parties agree and acknowledge that the Equity Entity (and the other entities, in the event that they become Equity Entities as
the result of an Alternative Transaction in 

 
accordance with Section 1.5 of the Agreement) listed in paragraph 12 below shall notify the Initial Equity Closing Date as its accounting reference date and thus bring to an end the period
of account for UK corporation tax purposes then current as at such date; such periods of account shall accordingly be Pre-Closing Tax Periods for the purposes of Section 5.6(c) of the Agreement and there shall be no Straddle Tax Periods for
such Equity Entity (or other entities, if applicable). The Seller Parties shall within 60 days of the Closing Date prepare the accounts of such Equity Entity (and other entities, if applicable) for the period ending on that date and the Purchaser
Parties shall procure that the relevant Equity Entity shall instruct KPMG LLP of 15 Canada Square, London (the “Auditors”) to undertake an audit in respect of such accounts. The Parties shall liaise with the Auditors with the intention
that the said accounts be signed by the Auditors and on behalf of the relevant Equity Entity (and other entities, if applicable) within 90 days of the Closing Date.” 
  

	RR.	Certain Purchaser Party Designees. Notwithstanding anything to the contrary contained in the Purchase Agreement (including Section 12.15 thereof), (i) the obligations of the Purchaser Parties set
forth on Schedule F attached hereto (the “Core SPEs”) under the Purchase Agreement shall be several and only relate to the Equity Assets acquired by each such Core SPE, and (ii) the Core SPEs shall have no obligation or
liability under the Purchase Agreement with respect to the Termination Fee, including pursuant to Section 10.3 and Section 10.5(a) thereof. 

  

	SS.	Certain Amounts in Spain. The Parties acknowledge and agree that, with respect to certain Equity Assets situated in Spain, a credit in the amount of €2,138,889.29 or the actually credited amounts with
respect to cash deposits (the “Security Deposit Credit”) related to certain tenant security deposits (and which tenant security deposits either shall be transferred to the applicable Purchaser Party or are retained for the benefit
of the applicable landlord and tenant with the applicable Governmental Entities) was erroneously deducted by the Purchaser Parties in the applicable Initial Closing Statements at the Initial Equity Closing. To correct such error, the Purchaser
Parties hereby agree that, within ten (10) Business Days following the Initial Equity Closing, the Purchaser Parties shall pay to the applicable Seller Parties in Spain an amount equal to the Security Deposit Credit and the Parties hereby agree
that the Security Deposit Credit shall be subject to the provisions of Section 1.4(i) of the Purchase Agreement. 

  

	TT.	Effect. From and after the date of this Letter Agreement, each reference in the Purchase Agreement to “this Agreement” shall mean the Purchase Agreement, as amended pursuant to this Letter Agreement. In
the event of any inconsistencies between this Letter Agreement and the Purchase Agreement, the terms of this Letter Agreement shall govern. 

  

	UU.	Governing Law. This Letter Agreement will be governed by, and construed and enforced in accordance with, the Laws of the State of New York, regardless of the Laws that might otherwise govern under applicable
conflicts of law principles thereof. 

  

	VV.	Counterparts. This Letter Agreement may be executed in one or more counterparts, all of which will be considered one and the same agreement and will become effective when one or more counterparts have been signed
by each of the Parties and delivered to the other Parties. This Letter Agreement may be executed by facsimile signature or in portable document format (PDF). 

  

	WW.	 Entire Agreement. Except as specifically amended by this Letter Agreement, the Purchase Agreement remains in full force and effect and is
hereby ratified and confirmed by the Parties. The Purchase Agreement (including all exhibit and schedules thereto), as amended by this Letter Amendment, constitutes the entire agreement of the Parties and their respective Affiliates and supersedes
all prior agreements and understandings, both written and oral, between the Parties with 

	 	
respect to the subject matter of this Agreement. Notwithstanding the foregoing, the Confidentiality Agreement will remain in full force and effect in all respects, except to the extent modified
by the provisions of Section 12.1 of the Purchase Agreement. 

 [The remainder of this page is intentionally
left blank.] 

 Please confirm your agreement and consent with the foregoing by signing and returning one copy of
this Letter Agreement to the undersigned, whereupon this Letter Agreement shall become a binding agreement among the Parties. 
  

			
	Sincerely,
	
	GENERAL ELECTRIC CAPITAL CORPORATION
		
	By:	 	 /s/ Douglas A. Ewing

	Name:	 	Douglas A. Ewing
	Title:	 	Authorized Signatory

			
	Agreed to, acknowledged and accepted as of the date first written above:
	
	PURCHASER REPRESENTATIVE
	
	BRE IMAGINATION HOLDCO LLC, a Delaware limited liability company
		
	By:	 	 /s/ Tyler Henritze

	Name:	 	Tyler Henritze
	Title:	 	Senior Managing Director and Vice President
		
	cc:	 	Simpson Thacher & Bartlett LLP
		 	425 Lexington Avenue
		 	New York, New York 10154
		 	Attention: Krista Miniutti

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