Document:

EX-10.3

 Exhibit 10.3 
 MANAGEMENT AGREEMENT 
 This management
agreement (this “Management Agreement”) is made and entered into as of the 19th day of May, 2014, by and among CARTER VALIDUS MISSION CRITICAL REIT II, INC., a Maryland corporation (the “Company”), CARTER VALIDUS OPERATING PARTNERSHIP II, LP, a Delaware limited
partnership (the “OP”), and CARTER VALIDUS REAL ESTATE MANAGEMENT SERVICES II, LLC, a Delaware limited liability company (the “Manager”). 
 WHEREAS, the OP was organized to acquire, own, operate, lease and manage real estate properties on behalf of the Company; and 
 WHEREAS, the Company intends to continue to raise money from the sale of its common stock to be used, net of payment of certain offering costs and expenses, for investment in the acquisition and
rehabilitation of income-producing real estate and other real-estate related investments, which are to be acquired and held by the Company or by the OP on behalf of the Company; and 

WHEREAS, the Owner desires to retain the Manager to manage and coordinate the leasing of the real estate properties acquired by the
Owner, and the Manager desires to be so retained, all under the terms and conditions set forth in this Management Agreement. 

NOW, THEREFORE, in consideration of the premises and other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto, intending to be legally bound hereby, do hereby agree as follows: 
 ARTICLE I.

 DEFINITIONS 
 Except as otherwise specified or as the context may otherwise require, the following terms have the respective meanings set forth below for all purposes of this Management Agreement: 

1.1 “Account” has the meaning set forth in Section 2.3(i) hereof. 
 1.2 “Affiliate” means with respect to any Person, (i) any Person directly or indirectly owning, controlling or holding, with the power to vote, ten percent (10%) or more of the
outstanding voting securities of such other Person; (ii) any Person ten percent (10%) or more of whose outstanding voting securities are directly or indirectly owned, controlled or held, with the power to vote, by such other Person;
(iii) any Person directly or indirectly controlling, controlled by or under common control with such other Person; (iv) any executive officer, director, trustee or general partner of such other Person; and (v) any legal entity for
which such Person acts as an executive officer, director, trustee or general partner. For purposes of this definition, the terms “controls,” “is controlled by,” or “is under common control with” shall mean the
possession, direct or indirect, of the power to direct or cause the direction of the management and policies of an entity, whether through ownership or voting rights, by contract or otherwise. 

1.3 “Articles of Incorporation” means the Articles of Incorporation of the Company, as amended from time to time. 

1.4 “Budget” has the meaning set forth in Section 2.5(c) hereof. 
 1.5 “Gross Revenues” means all amounts actually collected as rents or other charges for the use and occupancy of the Properties, but shall exclude interest and other investment income of
the Owner and proceeds received by the Owner for a sale, exchange, condemnation, eminent domain taking, casualty or other disposition of assets of the Owner. 

 1.6 “Improvements” means buildings, structures, equipment from time to time located on the
Properties and all parking and common areas located on the Properties. 
 1.7 “Independent Director” has the meaning set forth
in the Articles of Incorporation. 
 1.8 “Joint Venture” means the joint venture or partnership arrangements (other than
between the Company and the OP) in which the Company or the OP or any of their subsidiaries is a co-venturer or general partner which are established to own Properties. 
 1.9 “Management Fees” has the meaning set forth in Section 4.1(a) hereof. 
 1.10 “Owner” means the Company, the OP and any Joint Venture that owns, in whole or in part, any Properties. 
 1.11 “Ownership Agreements” has the meaning set forth in Section 2.3(k) hereof. 
 1.12 “Person” means an individual, corporation, partnership, joint venture, association, company (whether of limited liability or otherwise), trust, bank or other entity, or government or
any agency or political subdivision of a government. 
 1.13 “Plan” has the meaning set forth in Section 2.5(c)
hereof. 
 1.14 “Properties” means all real estate properties owned by the Owner and all tracts as yet unspecified but to be
acquired by the Owner containing income-producing Improvements or on which the Owner will develop or rehabilitate income-producing Improvements. 
 ARTICLE II. 
 APPOINTMENT OF THE MANAGER; SERVICES TO BE PERFORMED 

2.1 Appointment of the Manager. The Owner hereby engages and retains the Manager as the sole and exclusive manager and agent of the Properties,
and the Manager hereby accepts such appointment, all on the terms and conditions hereinafter set forth, it being understood that this Management Agreement shall cause the Manager to be, at law, the Owner’s agent upon the terms contained herein.

 2.2 General Duties. The Manager shall use commercially reasonable efforts in performing its duties hereunder to manage, operate,
maintain and lease the Properties in a diligent, careful and vigilant manner. The services of the Manager are to be of scope and quality not less than those generally performed by professional property managers of other similar properties in the
area. The Manager shall make available to the Owner the full benefit of the judgment, experience and advice of its members and staff with respect to the policies to be pursued by the Owner relating to the operation and leasing of the Properties.

  

	2.3	Specific Duties. The Manager’s duties include the following: 

  

	 	(a)	Lease Obligations. The Manager shall perform all duties of the landlord under all leases insofar as such duties relate to the operation, maintenance, and
day-to-day management of the Properties. The Manager shall also provide or cause to be provided, at the Owner’s expense, all services normally provided to tenants of like premises, including, where applicable and without limitation, gas,
electricity or other utilities required to be furnished to tenants under leases, normal repairs and maintenance, and cleaning and janitorial service. The Manager shall arrange for and supervise the performance of all installations and improvements
in space leased to any tenant which are either expressly required under the terms of the lease of such space or which are customarily provided to tenants. 

  

	 	(b)	 Maintenance. The Manager shall cause the Properties to be maintained in the same manner as similar properties in the area. The
Manager’s duties and supervision in this respect shall include, without limitation, cleaning of the interior and the exterior of the Improvements and the public common areas on the Properties and the making and supervision of repair,
alterations, and decoration of the 

  
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Improvements, subject to and in strict compliance with this Management Agreement and any applicable leases. Construction and rehabilitation activities undertaken by the Manager, if any, will be
limited to activities related to the management, operation, maintenance, and leasing of the Property (e.g., repairs, renovations, and leasehold improvements). 

 

	 	(c)	Leasing Functions. The Manager shall coordinate the leasing of the Properties and shall negotiate and use its best efforts to secure executed leases from
qualified tenants, and to execute same on behalf of the Owner, if requested, for available space in the Properties, such leases to be in form and on terms approved by the Owner and the Manager, and to bring about complete leasing of the Properties.
The Manager shall be responsible for the hiring of all leasing agents, as necessary for the leasing of the Properties, and to otherwise oversee and manage the leasing process on behalf of the Owner. 

 

	 	(d)	Notice of Violations. The Manager shall forward to the Owner, promptly upon receipt, all notices of violation or other notices from any governmental
authority, and board of fire underwriters or any insurance company, and shall make such recommendations regarding compliance with such notice as shall be appropriate. 

 

	 	(e)	Personnel. Any personnel hired by the Manager to maintain, operate and lease the Property shall be the employees or independent contractors of the Manager
and not of the Owner. The Manager shall use due care in the selection and supervision of such employees or independent contractors. The Manager shall be responsible for the preparation of and shall timely file all payroll tax reports and timely make
payments of all withholding and other payroll taxes with respect to each employee. 

  

	 	(f)	Utilities and Supplies. The Manager shall enter into or renew contracts for electricity, gas, steam, landscaping, fuel, oil, maintenance and other
services as are customarily furnished or rendered in connection with the operation of similar rental property in the area. 

  

	 	(g)	Expenses. The Manager shall analyze all bills received for services, work and supplies in connection with maintaining and operating the Properties, pay
all such bills, and, if requested by the Owner, pay, when due, utility and water charges, sewer rent and assessments, any applicable taxes, including, without limitation, any real estate taxes, and any other amount payable in respect to the
Properties. All bills shall be paid by the Manager within the time required to obtain discounts, if any. The Owner may from time to time request that the Manager forward certain bills to the Owner promptly after receipt, and the Manager shall comply
with any such request. The payment of all bills, real property taxes, assessments, insurance premiums and any other amounts payable with respect to the Properties shall be paid out of the Account by the Manager. All expenses shall be billed at net
cost (i.e., less all rebates, commissions, discounts and allowances, however designed). 

  

	 	(h)	Monies Collected. The Manager shall collect all rent and other monies from tenants and any sums otherwise due to the Owner with respect to the Properties
in the ordinary course of business. In collecting such monies, the Manager shall inform tenants of the Properties that all remittances are to be in the form of a check or money order. The Owner authorizes the Manager to request, demand, collect and
provide receipts for all such rent and other monies and to institute legal proceedings in the name of the Owner for the collection thereof and for the dispossession of any tenant in default under its lease. 

 

	 	(i)	Banking Accommodations. The Manager shall establish and maintain a separate checking account (the “Account”) for funds relating to the
Properties. All monies deposited from time to time in the Account shall be deemed to be trust funds and shall be and remain the property of the Owner and shall be withdrawn and disbursed by the Manager for the account of the Owner only as expressly
permitted by this Management Agreement for the purposes of performing the obligations of the Manager hereunder. No monies collected by the Manager on the Owner’s behalf shall be commingled with funds of the Manager. The Account shall be
maintained, and monies shall be deposited therein and withdrawn therefrom, in accordance with the following: 

 (i) All sums received from rents and other income from the Properties shall be promptly deposited by the Manager in the Account. The Manager shall have the right to designate two (2) or

  
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more persons who shall be authorized to draw against the Account, but only for purposes authorized by this Management Agreement. 

(ii) All sums due to the Manager hereunder, whether for compensation, reimbursement for expenditures, or otherwise, as
herein provided, shall be a charge against the operating revenues of the Properties and shall be paid and/or withdrawn by the Manager from the Account prior to the making of any other disbursements therefrom. 

(iii) On or before the 30th day following the end of each calendar quarter during the term of this Management Agreement,
the Manager shall forward to the Owner all net operating proceeds from the preceding quarter, retaining at all times, however, a reserve of $5,000, in addition to any other amounts otherwise provided in the Budget. 

 

	 	(j)	Tenant Complaints. The Manager shall maintain business-like relations with the tenants of the Properties. 

 

	 	(k)	Ownership Agreements. The Manager has received copies of the Agreement of Limited Partnership of the OP, Articles of Incorporation and the other
constitutive documents of the Owner (collectively, the “Ownership Agreements”) and is familiar with the terms thereof. The Manager shall use reasonable care to avoid any act or omission which, in the performance of its duties
hereunder, shall in any way conflict with the terms of the Ownership Agreements. 

  

	 	(l)	Signs. The Manager shall place and remove, or cause to be placed and removed, such signs upon the Properties as the Manager deems appropriate, subject,
however, to the terms and conditions of the leases and to any applicable ordinances and regulations. 

 2.4 Approval of Leases,
Contracts, Etc. In fulfilling its duties to the Owner, the Manager may and hereby is authorized to enter into any leases, contracts or agreements on behalf of the Owner in the ordinary course of the management, operation, maintenance and leasing
of the Properties. 
 2.5 Accounting, Records and Reports. 

 

	 	(a)	Records. The Manager shall maintain all office records and books of account and shall record therein, and keep copies of, each invoice received from
services, work and supplies ordered in connection with the maintenance and operation of the Properties. Such records shall be maintained on a double entry basis. The Owner and persons designated by the Owner shall at all reasonable times have access
to and the right to audit and make independent examinations of such records, books and accounts and all vouchers, files and all other material pertaining to the Properties and this Management Agreement, all of which the Manager agrees to keep safe,
available and separate from any records not pertaining to the Properties, at a place recommended by the Manager and approved by the Owner. 

  

	 	(b)	Quarterly Reports. On or before the 30th day following the end of each calendar quarter during the term of this Management Agreement, the Manager shall
prepare and submit to the Owner the following reports and statements: 

  

	 	(i)	Rental collection record; 

  

	 	(ii)	Quarterly operating statement; 

  

	 	(iii)	Copy of cash disbursements ledger entries for such period, if requested; 

  

	 	(iv)	Copy of cash receipts ledger entries for such period, if requested; 

  

	 	(v)	The original copies of all contracts entered into by the Manager on behalf of the Owner during such period, if requested; and 

  
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	 	(vi)	Copy of ledger entries for such period relating to security deposits maintained by the Manager, if requested. 

 

	 	(c)	Budgets and Leasing Plans. On or before November 15 of each calendar year, the Manager shall prepare and submit to the Owner for its approval an
operating budget (a “Budget”) and a marketing and leasing plan (a “Plan”) on the Properties for the calendar year immediately following such submission. Each Budget and Plan shall be in the form approved by the
Owner prior to the date thereof. As often as reasonably necessary during the period covered by any Budget or Plan, the Manager may submit to the Owner for its approval an updated Budget or Plan incorporating such changes as shall be necessary to
reflect cost over-runs and the like during such period. If the Owner does not disapprove a Budget or Plan within thirty (30) days after receipt thereof by the Owner, such Budget or Plan shall be deemed approved. If the Owner shall disapprove
any Budget or Plan, it shall so notify the Manager within said thirty (30) day period and explain the reasons therefor. The Manager will not incur any costs other than those estimated in an approved Budget except for: 

 

	 	(i)	maintenance or repair costs under $5,000 per Property; 

  

	 	(ii)	costs incurred in emergency situations in which action is immediately necessary for the preservation or safety of the Property, or for the safety of occupants or other
persons on the Property (or to avoid the suspension of any necessary service of the Property); 

  

	 	(iii)	expenditures for real estate taxes and assessments; and 

  

	 	(iv)	maintenance supplies calling for an aggregate purchase price of less than $25,000 for all Properties. 

 

	 	(d)	Returns Required by Law. The Manager shall execute and file when due all forms, reports, and returns required by law relating to the employment of its
personnel. 

  

	 	(e)	Notices. Promptly after receipt, the Manager shall deliver to the Owner all notices, from any tenant, or any governmental authority, that are not of a
routine nature. The Manager shall also report expeditiously to the Owner notice of any extensive damage to any part of the Properties. 

 2.6 Subcontracting. Notwithstanding anything to the contrary contained in this Agreement, the Manager may subcontract any of its duties hereunder, without the consent of the Owner, for a fee that
may be less than the Management Fees paid hereunder. In the event that the Manager does so subcontract any its duties hereunder, such fees payable to such third parties may, at the instruction of the Manager, be deducted from the Management Fee and
paid by the Owner to such parties, or paid directly by the Manager to such parties, in its discretion. 
 ARTICLE III.

 EXPENSES 
 3.1
Owner’s Expenses. Except as otherwise specifically provided, all costs and expenses incurred hereunder by the Manager in fulfilling its duties to the Owner shall be for the account of and on behalf of the Owner. Such costs and expenses
may include, without limitation, reasonable wages and salaries and other employee-related expenses of all on-site and off-site employees of the Manager who are engaged in the operation, management, maintenance and leasing of the Properties,
including taxes, insurance and benefits relating to such employees, and legal, travel and other out-of-pocket expenses which are directly related to the operation, management, maintenance and leasing of specific Properties. All costs and expenses
for which the Owner is responsible under this Management Agreement shall be paid by the Manager out of the Account. In the event the Account does not contain sufficient funds to pay all of the costs and expenses, the Owner shall fund all sums
necessary to meet such additional costs and expenses. 

  
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 3.2 Manager’s Expenses. The Manager shall, out of its own funds, pay all of its general overhead
and administrative expenses. 
 ARTICLE IV. 
 MANAGER’S COMPENSATION 
 4.1 Management Fees. 

 

	 	(a)	The Owner shall pay the Manager or any of its Affiliates property management and leasing fees (the “Management Fees”), on a monthly basis, equal to:
three percent (3.0%) of gross revenues from the Properties managed. Except as otherwise set forth herein, the Owner shall also reimburse the Manager for any costs and expenses incurred by the Manager in connection with managing the Properties.

  

	 	(b)	The Manager may charge a separate fee for the one-time initial rent-up or leasing-up of newly constructed Properties in an amount not to exceed the fee customarily
charged in arm’s length transactions by others rendering similar services in the same geographic area for similar properties. 

  

	 	(c)	Notwithstanding the foregoing, the Manager may be entitled to receive higher fees in the event the Manager can demonstrate to the satisfaction of the board of directors
of the Company (including a majority of the Independent Directors) through empirical data that a higher competitive fee is justified for the services rendered and the type of Property managed. As described in Section 2.6 above, in the
event that the Manager properly engages one or more third parties to perform the services described herein, the fees payable to such parties for such services will be deducted from the Management Fees, or paid directly by the Manager, at the
Manager’s option. The Manager’s compensation under this Section 4.1 shall apply to all renewals, extensions or expansions of leases which the Manager originally negotiated. 

4.2 Additional Fees. In the event that the Manager provides services other than those specified herein, the Owner shall pay to the Manager a
monthly fee equal to no more than that which the Owner would pay to a third party that is not an Affiliate of the Owner or the Manager to provide such services. 
 4.3 Audit Adjustment. If any audit of the records, books or accounts relating to the Properties discloses an overpayment or underpayment of Management Fees, the Owner or the Manager shall promptly
pay to the other party the amount of such overpayment or underpayment, as the case may be. If such audit discloses an overpayment of Management Fees for any fiscal year of more than the correct Management Fees for such fiscal year, the Manager shall
bear the cost of such audit. 
 ARTICLE V. 
 INSURANCE AND INDEMNIFICATION 
 5.1 Insurance to be Carried. 

 

	 	(a)	The Manager shall obtain and keep in full force and effect insurance on the Properties against such hazards as the Owner and the Manager shall deem appropriate, but in
any event, insurance sufficient to comply with the leases and the Ownership Agreements shall be maintained. All liability policies shall provide sufficient insurance satisfactory to both the Owner and the Manager and shall contain waivers of
subrogation for the benefit of the Manager. 

  

	 	(b)	The Manager shall obtain and keep in full force and effect, in accordance with the laws of the state in which each Property is located, employer’s liability
insurance applicable to and covering all employees of the Manager at the Properties and all persons engaged in the performance of any work required hereunder, and the Manager shall furnish the Owner certificates of insurers naming the Owner as a
co-insured and evidencing that such insurance is in effect. If any of the Manager’s duties hereunder are subcontracted as permitted under Section 2.6, the Manager shall include in each subcontract a provision that the subcontractor
shall also furnish the Owner with such a certificate. 

  
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 5.2 Cooperation with Insurers. The Manager shall cooperate with and provide reasonable access to the
Properties to representatives of insurance companies and insurance brokers or agents with respect to insurance which is in effect or for which application has been made. The Manager shall use its best efforts to comply with all requirements of
insurers. 
 5.3 Accidents and Claims. The Manager shall promptly investigate and report in detail to the Owner all accidents, claims for
damage relating to the ownership, operation or maintenance of the Properties, and any damage or destruction to the Properties and the estimated costs of repair thereof, and shall prepare for approval by the Owner all reports required by an insurance
company in connection with any such accident, claim, damage, or destruction. Such reports shall be given to the Owner promptly and any report not so given within ten (10) days after the occurrence of any such accident, claim, damage or
destruction shall be noted in the report delivered to the Owner pursuant to Section 2.5(b). The Manager is authorized to settle any claim against an insurance company arising out of any policy and, in connection with such claim, to
execute proofs of loss and adjustments of loss and to collect and provide receipts for loss proceeds. 
 5.4 Indemnification. The Manager
shall hold the Owner harmless from and indemnify and defend the Owner against any and all claims or liability for any injury or damage to any person or property whatsoever for which the Manager is responsible occurring in, on, or about the
Properties, including, without limitation, the Improvements when such injury or damage is caused by the negligence or misconduct of the Manager, its agents, servants, or employees, except to the extent that the Owner recovers insurance proceeds with
respect to such matter. The Owner will indemnify and hold the Manager harmless against all liability for injury to persons and damage to property caused by the Owner’s negligence and which did not result from the negligence or misconduct of the
Manager, except to the extent the Manager recovers insurance proceeds with respect to such matter. 
 ARTICLE VI. 

TERM; TERMINATION 
 6.1
Term. This Management Agreement shall commence on the date first above written and shall continue until terminated in accordance with the earliest to occur of the following: 

 

	 	(a)	One year from the date of the commencement of the term hereof. However, this Management Agreement will be automatically extended for an unlimited number of successive
one year terms at the end of each year unless any party gives sixty (60) days’ written notice to the other parties of its intention to terminate this Management Agreement; 

 

	 	(b)	Immediately upon the occurrence of any of the following: 

 (i) A decree or order is rendered by a court having jurisdiction (A) adjudging the Manager as bankrupt or insolvent, (B) approving as properly filed a petition seeking reorganization,
readjustment, arrangement, composition or similar relief for the Manager under the federal bankruptcy laws or any similar applicable law or practice, or (C) appointing a receiver, liquidator, trustee or assignee in bankruptcy or insolvency of
the Manager or a substantial part of the Manager’s assets, or for the winding up or liquidation of its affairs, or 
 (ii) The Manager (A) voluntarily institutes proceedings to be adjudicated bankrupt or insolvent, (B) consents to the filing of a bankruptcy proceeding against it, (C) files a petition,
answer or consent seeking reorganization, readjustment, arrangement, composition or relief under any similar applicable law or practice, (D) consents to the filing of any such petition, or to the appointment of a receiver, liquidator, trustee
or assignee in bankruptcy or insolvency for it or for a substantial part of its assets, (E) makes an assignment for the benefit of creditors, (F) is unable to or admits in writing its inability to pay its debts generally as they become
due, unless such inability shall be the fault of the Owner, or (G) takes corporate or other action in furtherance of any of the aforesaid purposes; or 

  
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	 	(c)	Upon written notice from the Owner in the event that the Manager commits an act of gross negligence or willful misconduct in the performance of its duties hereunder.

 Upon termination, the obligations of the parties hereto shall cease, provided that the Manager shall
comply with the provisions hereof applicable in the event of termination and shall be entitled to receive all compensation which may be due to the Manager hereunder up to the date of such termination; provided, further, that if this
Management Agreement terminates pursuant to clauses (b) or (c) of this Section 6.1, the Owner shall have other remedies as may be available at law or in equity. 
 6.2 Manager’s Obligations after Termination. Upon the termination of this Management Agreement, the Manager shall have the following duties: 

 

	 	(a)	The Manager shall deliver to the Owner, or its designee, all books and records with respect to the Properties. 

 

	 	(b)	The Manager shall transfer and assign to the Owner, or its designee, all service contracts and personal property relating to or used in the operation and maintenance of
the Properties, except personal property paid for and owned by the Manager. Manager shall also, for a period of sixty (60) days immediately following the date of such termination, make itself available to consult with and advise the Owner, or
its designee, regarding the operation, maintenance and leasing of the Properties. 

  

	 	(c)	The Manager shall render to the Owner an accounting of all funds of the Owner in its possession and shall deliver to the Owner a statement of Management Fees claimed to
be due the Manager and shall cause funds of the Owner held by the Manager relating to the Properties to be paid to the Owner or its designee. 

  

	 	(d)	The Manager shall cooperate with the Owner to provide an orderly transition of the Manager’s duties hereunder. 

ARTICLE VII. 

MISCELLANEOUS 
 7.1
Notices. All notices, approvals, consents and other communications hereunder shall be in writing, and, except when receipt is required to start the running of a period of time, shall be deemed given when delivered in person or on the fifth
day after its mailing by either party by registered or certified United States mail, postage prepaid and return receipt requested, to the other party, at the addresses set forth after their respect name below or at such different addresses as either
party shall have theretofore advised the other party in writing in accordance with this Section 7.1. 
  

			
	To the Owner:	  	Carter Validus Mission Critical REIT II, Inc.
		  	4211 West Boy Scout Blvd., Suite 500
		  	Tampa, Florida 33607
		  	Attention: Lisa A. Drummond
		
		  	with a copy to:
		
		  	Carter Validus Operating Partnership II, LP
		  	4211 West Boy Scout Blvd., Suite 500
		  	Tampa, Florida 33607
		  	Attention: Lisa A. Drummond
		
	To the Manager:	  	Carter Validus Real Estate Management Services II, LLC
		  	4211 West Boy Scout Blvd., Suite 500
		  	Tampa, Florida 33607
		  	Attention: Lisa A. Drummond

  
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 7.2 Governing Law. This Management Agreement shall be governed by and construed in accordance with
the laws of the State of New York, without regard to the principles of conflicts of law thereof. 
 7.3 Assignment. Except as permitted
in Section 2.6 hereof, this Management Agreement may not be assigned by the Manager, except to an Affiliate of the Manager, and then only upon the consent of the Owner and the approval of a majority of the Independent Directors. Any
assignee of the Manager shall be bound hereunder to the same extent as the Manager. This Agreement shall not be assigned by the Owner without the written consent of the Manager, except to a Person which is a successor to such Owner. Such successor
shall be bound hereunder to the same extent as such Owner. Notwithstanding anything to the contrary contained herein, the economic rights of the Manager hereunder, including the right to receive all compensation hereunder, may be sold, transferred
or assigned by the Manager without the consent of the Owner. 
 7.4 No Waiver. Neither the failure nor any delay on the part of a party
to exercise any right, remedy, power or privilege under this Management Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any right, remedy, power or privilege preclude any other or further exercise of the same
or of any other right, remedy, power or privilege, nor shall any waiver of any right, remedy, power or privilege with respect to any occurrence be construed as a waiver of such right, remedy, power or privilege with respect to any other occurrences.
No waiver shall be effective unless it is in writing and is signed by the party asserted to have granted such waiver. 
 7.5 Amendments.
This Management Agreement may be amended only by an instrument in writing signed by the party against whom enforcement of the amendment is sought. 
 7.6 Headings. The headings of the various subdivisions of this Management Agreement are for reference only and shall not define or limit any of the terms or provisions hereof. 

7.7 Counterparts. This Management Agreement may be executed (including by facsimile transmission) in any number of counterparts, each of which
shall be deemed to be an original as against any party whose signature appears thereon, and all of which shall together constitute one and the same instrument. This Management Agreement shall become binding when one or more counterparts hereof,
individually or taken together, shall bear the signatures of all of the parties reflected hereon as the signatories. 
 7.8 Entire
Agreement. This Management Agreement contains the entire agreement and understanding among the parties hereto with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements, understandings, inducements and
conditions, express or implied, oral or written, of any nature whatsoever with respect to the subject matter hereof. 
 7.9 Disputes. If
there shall be a dispute between the Owner and the Manager relating to this Management Agreement resulting in litigation, the prevailing party in such litigation shall be entitled to recover from the other party to such litigation such amount as the
court shall fix as reasonable attorneys’ fees. 
 7.10 Activities of the Manager. The obligations of the Manager pursuant to the
terms and provisions of this Management Agreement shall not be construed to preclude the Manager from engaging in other activities or business ventures, whether or not such other activities or ventures are in competition with the Owner or the
business of the Owner. 
 7.11 Independent Contractor. The Manager and the Owner shall not be construed as joint venturers or partners of
each other pursuant to this Management Agreement, and neither party shall have the power to bind or obligate the other except as set forth herein. In all respects, the status of the Manager to the Owner under this Management Agreement is that of an
independent contractor. 

  
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 7.12 Pronouns and Plurals. Whenever the context may require, any pronoun used in this Management
Agreement shall include the corresponding masculine, feminine or neuter forms, and the singular form of nouns, pronouns and verbs shall include the plural and vice versa. 
 [Remainder of page intentionally left blank] 

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

			
	CARTER VALIDUS MISSION CRITICAL REIT II, INC.
		
	By:	 	 /s/ John Carter

	Name:	 	John Carter
	Title:	 	 Chief Executive Officer, President and
 Chairman of the Board of Directors

	
	  

CARTER VALIDUS OPERATING PARTNERSHIP II, LP

		
	By:	 	 Carter Validus Mission Critical REIT II, Inc.
 its General Partner

	 
		
	By:	 	 /s/ John Carter

	Name:	 	John Carter
	Title:	 	 Chief Executive Officer, President and
 Chairman of the Board of Directors

	
	  
 CARTER VALIDUS REAL ESTATE MANAGEMENT SERVICES II,
LLC

		
	By:	 	 /s/ Lisa A. Drummond

	Name:	 	Lisa A. Drummond
	Title:	 	SecretaryEX-10.1

 Exhibit 10.1 

SHARE REPURCHASE AGREEMENT 

THIS SHARE REPURCHASE AGREEMENT (this “Agreement”) is entered into as of May 19, 2014 by and between Sensata
Technologies Holding N.V., a Dutch public limited company (naamloze vennootschap or N.V.) (the “Company”), and Sensata Investment Company S.C.A., a société en commandite par actions organized under
the laws of the Grand Duchy of Luxembourg (the “Seller”). 
 Background 

A. The Seller owns in aggregate 30,550,632 of the Company’s ordinary shares, €0.01 nominal value per share (the “Ordinary
Shares”), and proposes to sell a portion of the Ordinary Shares owned by the Seller to the Company on the terms and conditions set forth in this Agreement; 

B. The Company proposes to repurchase from the Seller a portion of the Ordinary Shares held by the Seller at the price and upon the terms and
conditions provided in this Agreement (the “Repurchase”); 
 C. Promptly after the date hereof, the Seller, together with
certain other shareholders of the Company, intends to commence an underwritten public offering (the “Public Offering”) of Ordinary Shares held by the Seller and such other shareholders (the “Underwritten Shares”);

 D. During the general meeting of shareholders of the Company held on 22 May 2013, the general meeting of shareholders of the Company
extended the authorization to the board of directors of the Company (the “Board”) for a period of 18 months from the date of that meeting to repurchase up to 10% of the issued capital of the Company on the open market, through
privately negotiated transactions or in one or more self tender offers, at prices per share not less than the nominal value of a share and not higher than 110% of the market price at the time of such transaction. 

E. The Board has authorized a program pursuant to which the Company may repurchase Ordinary Shares, having an aggregate value of up to $250.0
million, from time to time in the open market or in privately negotiated transactions (the “Repurchase Program”); and 
 F.
The Board (following the recusal of members of the Board with a direct or indirect interest in the Repurchase) has approved the Repurchase and related transactions that may be required in connection with the Repurchase. 

THEREFORE, in consideration of the mutual covenants herein and other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the undersigned hereby agree as follows: 

 Agreement 

1. Repurchase. 
 (a)
Subject to the satisfaction of the conditions and to the terms set forth in paragraphs 1(b) and 1(c) below, the Seller hereby agrees to transfer, assign, sell, convey and deliver to the Company 100% of its right, title, and interest in and to a
number of shares equal to the lesser of (i) 4,000,000 Ordinary Shares or (ii) 30% of the total number of Ordinary Shares that the Seller and the other shareholders of the Company desire to sell in the Public Offering and the Repurchase
(the “Repurchase Shares”). The per share purchase price for each Repurchase Share shall be equal to the per share price at which the Seller sells the Underwritten Shares to the underwriters in the Public Offering (the “Per
Share Purchase Price”). Notwithstanding the foregoing, in the event that the product of the Per Share Purchase Price and the aggregate number of Repurchase Shares (the “Aggregate Purchase Price”) is greater than $250.0
million (or such lesser amount then available under the Repurchase Program), the number of Repurchase Shares shall be reduced to be equal to (i) $250.0 million (or such lesser amount then available under the Repurchase Program) divided by
(ii) the Per Share Purchase Price, rounded down to the nearest whole share. At the Closing (as defined below), subject to the satisfaction of the conditions and to the terms set forth in paragraphs 1(b) and 1(c), the Seller agrees to transfer,
assign, sell, convey and deliver the Repurchase Shares (as adjusted to reflect any reduction in the aggregate number of Repurchase Shares in accordance with the immediately preceding sentence) to the Company, and the Company hereby agrees to
purchase such Repurchase Shares from the Seller at the Aggregate Purchase Price. 
 (b) The Seller may reduce the number of Repurchase
Shares to be sold hereunder by providing notice to the Company prior to the issuance by the Company of a press release announcing the Public Offering (which, for purposes of clarity, would result in a reduction in the aggregate Repurchase Shares
delivered to, and aggregate Purchase Price to be paid by, the Company). 
 (c) The obligations of the Company to purchase the Repurchase
Shares shall be subject to the closing of the Public Offering pursuant to an underwriting agreement by and among the Company, the Seller and the underwriters named therein (the “Underwriting Agreement”) no later than 6 business days
from the date hereof. 
 (d) The closing of the sale of the Repurchase Shares (the “Closing”) shall take place upon the
same day as the closing of the Public Offering at the offices of the Company’s U.S. subsidiary in Attleboro, Massachusetts, or at such other time and place as may be agreed upon by the Company and the Seller. At the Closing, the Seller and
the Company shall effectuate the sale and transfer of the Repurchase Shares by duly executing and delivering a Dutch law deed of sale and transfer in customary form and the Seller shall execute and deliver such other agreements, certificates or
documents (including a stock power) as the Company may reasonably request to effect the purchase, sale and transfer of the Repurchase Shares, and the Company agrees to deliver to the Seller the Aggregate Purchase Price by wire transfer of
immediately available funds. 

  
 2 

 2. Company Representations. In connection with the transactions contemplated hereby, the
Company represents and warrants to the Seller that: 
 (a) The Company has been duly incorporated and is validly existing as an entity under
Dutch law. The Company has the requisite corporate power and authority to execute, deliver and perform its obligations under this Agreement and to consummate the transactions contemplated hereby. 

(b) This Agreement has been duly authorized, executed and delivered by the Company and constitutes a valid and binding agreement of the
Company enforceable in accordance with its terms, except to the extent that enforcement thereof may be limited by bankruptcy, insolvency, reorganization or other laws affecting enforcement of creditors’ rights or by general equitable
principles. 
 (c) The compliance by the Company with this Agreement and the consummation of the transactions herein contemplated will not
(i) conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which the Company or any of its
subsidiaries is a party or by which the Company or any of its subsidiaries is bound or to which any of the property or assets of the Company or any of its subsidiaries is subject, (ii) violate any provision of the deed or certificate of
incorporation, by-laws or articles of association, or other organizational documents, as applicable, of the Company or its subsidiaries or (iii) violate any statute or any order, rule or regulation of any court or governmental agency or body
having jurisdiction over the Company or any of its subsidiaries or any of their properties; except, in the case of clauses (i) and (iii), as would not impair in any material respect the consummation of the Company’s obligations hereunder
or reasonably be expected to have a material adverse effect on the financial position, shareholders’ equity or results of operations of the Company and its subsidiaries, taken as a whole, in the case of each such clause, after giving effect to
any consents, approvals, authorizations, orders, registrations, qualifications, waivers and amendments as will have been obtained or made as of the date of this Agreement; and no consent, approval, authorization, order, registration or qualification
of or with any such court or governmental agency or body is required for the execution, delivery and performance by the Company of its obligations under this Agreement, including the consummation by the Company of the transactions contemplated by
this Agreement, except where the failure to obtain or make any such consent, approval, authorization, order, registration or qualification would not impair in any material respect the consummation of the Company’s obligations hereunder or
reasonably be expected to have a material adverse effect on the financial position, shareholders’ equity or results of operations of the Company and its subsidiaries, taken as a whole. 

3. Representations of the Seller. In connection with the transactions contemplated hereby, the Seller represents and warrants to the
Company that: 
 (a) The Seller is duly organized and existing under the laws of the Grand Duchy of Luxembourg. 

(b) All consents, approvals, authorizations and orders necessary for the execution and delivery by the Seller of this Agreement and for the
sale and delivery of the 

  
 3 

 
Repurchase Shares have been obtained; and the Seller has full right, power and authority to enter into this Agreement and to sell, assign, transfer and deliver the Repurchase Shares, except for
such consents, approvals, authorizations and orders as would not impair in any material respect the consummation of the Seller’s obligations hereunder. 

(c) This Agreement has been duly authorized, executed and delivered by the Seller and constitutes a valid and binding agreement of the Seller,
enforceable in accordance with its terms, except to the extent that enforcement thereof may be limited by bankruptcy, insolvency, reorganization or other laws affecting enforcement of creditors’ rights or by general equitable principles. 

(d) The sale of the Repurchase Shares to be sold by the Seller hereunder and the compliance by the Seller with all of the provisions of this
Agreement and the consummation of the transactions contemplated herein (i) will not conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under, any statute, indenture, mortgage, deed of
trust, loan agreement or other agreement or instrument to which the Seller is a party or by which the Seller is bound or to which any of the property or assets of the Seller is subject, (ii) nor will such action result in any violation of the
provisions of (x) any organizational or similar documents pursuant to which the Seller was formed or (y) any statute or any order, rule or regulation of any court or governmental agency or body having jurisdiction over the Seller or the
property of the Seller; except in the case of clause (i) or clause (ii)(y), for such conflicts, breaches, violations or defaults as would not impair in any material respect the consummation of the Seller’s obligations hereunder. 

(e) As of the date hereof and immediately prior to the delivery of the Repurchase Shares to the Company at the Closing, the Seller holds good
and valid title to the Repurchase Shares or a securities entitlement in respect thereof, and holds, and will hold, such Repurchase Shares free and clear of all liens, encumbrances, equities or claims; and, upon delivery and transfer of such
Repurchase Shares (including by crediting to a securities account of the Company) and payment therefor pursuant hereto, assuming that the Company has no notice of any adverse claims within the meaning of Section 8-105 of the New York Uniform
Commercial Code as in effect in the State of New York from time to time (the “UCC”), the Company will acquire good and valid title to the Repurchase Shares, free and clear of all liens, encumbrances, equities or claims, as well as a
valid security entitlement (within the meaning of Section 8-102(a)(17) of the UCC) to such Repurchase Shares purchased by the Company, and no action (whether framed in conversion, replevin, constructive trust, equitable lien or other theory)
based on an adverse claim (within the meaning of Section 8-105 of the UCC) to such security entitlement may be asserted against the Company. 

(f) The Seller (either alone or together with its advisors) has such knowledge and experience in financial or business matters that it is
capable of evaluating the merits and risks of the Repurchase. The Seller has had the opportunity to ask questions and receive answers concerning the terms and conditions of the Repurchase and the Repurchase Shares and has had full access to such
other information concerning the Shares and the Company as it has requested. The Seller has received all information that it believes is necessary or appropriate in connection with the Repurchase. The Seller is an informed and sophisticated party
and has engaged, to the extent the Seller deems appropriate, expert advisors experienced in the evaluation of transactions 

  
 4 

 
of the type contemplated hereby. The Seller acknowledges that the Seller has not received or relied upon any express or implied representations or warranties of any nature made by or on behalf of
the Company, except as expressly set forth for the benefit of the Seller in this Agreement. 
 4. Termination. This Agreement may be
terminated at any time by the mutual written consent of the Company and the Seller. Furthermore, unless such date is extended by the mutual written consent of the Company and the Seller, this Agreement shall automatically terminate and be of no
further force and effect, in the event that (a) the commencement of the Public Offering has not been publicly announced within 3 business days after the date hereof or (b) the conditions in paragraph 1(c) of this Agreement have not been
satisfied within 6 business days after the date hereof. 
 5. Notices. All notices, demands or other communications to be given or
delivered under or by reason of the provisions of this Agreement will be in writing and will be deemed to have been given when delivered personally, mailed by certified or registered mail, return receipt requested and postage prepaid, or sent via a
nationally recognized overnight courier, or sent via facsimile to the recipient, or sent via electronic mail to the recipient (with confirmation of receipt). Such notices, demands and other communications will be sent to the address indicated below:

 To the Seller: 

Sensata Investment Company S.C.A. 

c/o Bain Capital, LLC 

John Hancock Tower 

200 Clarendon Street 

Boston, MA 02116 

Attention: Paul Edgerley 

Facsimile No.: (617) 516-2010 

Email: pedgerley@baincapital.com 

To the Company: 

Sensata Technologies Holding N.V. 

c/o Sensata Technologies, Inc. 

529 Pleasant Street 

Attleboro, Massachusetts, 02703 

Attention: Jeffrey Cote 

Email: jcote@sensata.com 

or such other address or to the attention of such other person as the recipient party shall have specified by prior written notice to the sending party. 

  
 5 

 6. Miscellaneous. 

(a) Survival of Representations and Warranties. All representations and warranties contained herein or made in writing by any
party in connection herewith shall survive the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby. 

(b) Severability. Whenever possible, each provision of this Agreement will be interpreted in such manner as to be effective and valid
under applicable law, but if any provision of this Agreement is held to be invalid, illegal, or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality, or unenforceability will not affect any
other provision or any other jurisdiction, but this Agreement will be reformed, construed, and enforced in such jurisdiction as if such invalid, illegal, or unenforceable provision had never been contained herein. 

(c) Complete Agreement. This Agreement and any other agreements ancillary thereto and executed and delivered on the date hereof embody
the complete agreement and understanding between the parties and supersede and preempt any prior understandings, agreements, or representations by or among the parties, written or oral, which may have related to the subject matter hereof in any way.

 (d) Counterparts. This Agreement may be executed in separate counterparts, each of which is deemed to be an original and all of
which taken together constitute one and the same agreement. 
 (e) Assignment; Successors and Assigns. Neither this Agreement nor any
of the rights, interests or obligations hereunder shall be assigned, in whole or in part, by any of the parties without the prior written consent of the other parties. Subject to the preceding sentence, this Agreement shall bind and inure to the
benefit of and be enforceable by the Seller and the Company and their respective successors and permitted assigns. Any purported assignment not permitted under this paragraph shall be null and void. 

(f) No Third Party Beneficiaries or Other Rights. This Agreement is for the sole benefit of the parties and their successors and
permitted assigns and nothing herein express or implied shall give or shall be construed to confer any legal or equitable rights or remedies to any person other than the parties to this Agreement and such successors and permitted assigns. 

(g) Governing Law; Jurisdiction. The Agreement and all disputes arising out of or related to this agreement (whether in contract, tort
or otherwise) will be governed by and construed in accordance with the laws of the State of New York. EACH OF THE PARTIES TO THIS AGREEMENT IRREVOCABLY WAIVES ANY AND ALL RIGHTS TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO
THIS AGREEMENT. Each of the parties (i) irrevocably submits to the personal jurisdiction of any state or federal court sitting in Wilmington, Delaware, as well as to the jurisdiction of all courts to which an appeal may be taken from such
courts, in any suit, action or proceeding relating to or arising out of, under or in connection with this Agreement, (ii) agrees that all claims in respect of such suit, action or proceeding, whether arising under contract, tort or otherwise,
shall be 

  
 6 

 
brought, heard and determined exclusively in the Delaware Court of Chancery (provided that, in the event that subject matter jurisdiction is unavailable in that court, then all such claims shall
be brought, heard and determined exclusively in any other state or federal court sitting in Wilmington, Delaware), (iii) agrees that it shall not attempt to deny or defeat such personal jurisdiction by motion or other request for leave from
such court, and (iv) agrees not to bring any action or proceeding relating to or arising out of, under or in connection with this Agreement or the Company’s business or affairs in any other court, tribunal, forum or proceeding. Each of the
parties waives any defense of inconvenient forum to the maintenance of any action or proceeding brought in accordance with this paragraph. Each of the parties agrees that service of any process, summons, notice or document by U.S. registered mail to
its address set forth herein shall be effective service of process for any action, suit or proceeding brought against it in accordance with this paragraph, provided that nothing in the foregoing sentence shall affect the right of any party to serve
legal process in any other manner permitted by law. 
 (h) Mutuality of Drafting. The parties have participated jointly in the
negotiation and drafting of this Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as jointly drafted by the parties, and no presumption or burden of proof shall arise favoring or
disfavoring any party by virtue of the authorship of any provision of the Agreement. 
 (i) Remedies. The parties hereto agree
and acknowledge that money damages will not be an adequate remedy for any breach of the provisions of this Agreement, that any breach of the provisions of this Agreement shall cause the other parties irreparable harm, and that any party may in its
sole discretion apply to any court of law or equity of competent jurisdiction (without posting any bond or deposit) for specific performance or other injunctive relief in order to enforce, or prevent any violations of, the provisions of this
Agreement. 
 (j) Amendment and Waiver. The provisions of this Agreement may be amended, modified or waived only with the prior
written consent of the Seller and the Company. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions of this Agreement, nor shall any waiver constitute a continuing waiver.
Moreover, no failure by any party to insist upon strict performance of any of the provisions of this Agreement or to exercise any right or remedy arising out of a breach thereof shall constitute a waiver of any other provisions or any other breaches
of this Agreement. 
 (k) Further Assurances. Each of the Company and the Seller shall execute and deliver such additional documents
and instruments and shall take such further action as may be necessary or appropriate to effectuate fully the provisions of this Agreement. 

(l) Expenses. Each of the Company and the Seller shall bear its own expenses in connection with the drafting, negotiation, execution
and delivery of this Agreement and the consummation of the transactions contemplated hereby. 
 [Signatures appear on following page.]

  
 7 

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

			
	Company:
	
	SENSATA TECHNOLOGIES HOLDING N.V.
		
	By:	 	 /s/ Paul Vasington

	Name:	 	Paul Vasington
	Title:	 	Executive Vice President, and Chief Financial Officer

  

			
	Seller:
	
	SENSATA INVESTMENT COMPANY S.C.A.
		
	By:	 	 /s/ Paul Edgerley

	Name:	 	Paul Edgerley
	Title:	 	Managing Director

 [Signature Page to Share Repurchase Agreement]

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