Document:

EX-10.16

 Exhibit 10.16 

ROMA BANK 
 SPLIT DOLLAR
LIFE INSURANCE AGREEMENT 
 THIS SPLIT DOLLAR LIFE INSURANCE AGREEMENT (the “Agreement”) is entered into this 25th day of
July, 2007, by and between Roma Bank, a savings association located in Robbinsville, New Jersey (the “Bank”), and Michele N. Siekerka (the “Director”). 

The purpose of this Agreement is to retain and reward the Director, by dividing the death proceeds of certain life insurance policies which
are owned by the Bank on the life of the Director with the designated beneficiary of the Director. The Bank will pay the life insurance premiums from its general assets. 

Article 1 
 Definitions

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

 

	1.1	“Bank’s Interest” means the benefit set forth in Section 2.1. 

  

	1.2	“Beneficiary” means each designated person, or the estate of the deceased Director, entitled to benefits, if any, upon the death of the Director. 

 

	1.3	“Beneficiary Designation Form” means the form established from time to time by the Plan Administrator that the Director completes, signs and returns to the Plan Administrator to designate one or more
Beneficiaries. 

  

	1.4	“Board” means the Board of Directors of the Bank as from time to time constituted. 

  

	1.5	“Change in Control” means any of the following: 

  

	 	(A)	Any person (as such term is used in Sections 13d and 14d-2 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), other than the Bank, a subsidiary of the Bank, an employee benefit plan (or
related trust) of the Bank or a direct or indirect subsidiary of the Bank, or affiliates of the Bank (as defined in Rule 12b-2 under the Exchange Act), becomes the beneficial owner (as determined pursuant to Rule 13d-3 under the Exchange Act),
directly or indirectly, of securities of the Bank representing more than 50% of the combined voting power of the Bank’s then outstanding securities (other than a person owning 10% or more of the voting power of stock on the date hereof); or

  

	 	(B)	The liquidation or dissolution of the Bank or the occurrence of, or execution of an agreement providing for a sale of all or substantially all of the assets of the Bank to an entity which is not a direct or indirect
subsidiary of the Bank; or 

  
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	 	(C)	The occurrence of, or execution of an agreement providing for a reorganization, merger, consolidation or other similar transaction or connected series of transactions of the Bank as a result of which either (a) the
Bank does not survive or (b) pursuant to which shares of the Bank common stock (“Common Stock”) would be converted into cash, securities or other property, unless, in case of either (a) or (b), the holders of the Bank Common
Stock immediately prior to such transaction will, following the consummation of the transaction, beneficially own, directly or indirectly, more than 50% of the combined voting power of the then outstanding voting securities entitled to vote
generally in the election of directors of the corporation surviving, continuing or resulting from such transaction 

  

	 	(D)	The occurrence of, or execution of an agreement providing for a reorganization, merger, consolidation or similar transaction of the Bank, or before any connected series of such transactions, if upon consummation of such
transaction or transactions, the persons who are members of the Board of the Bank immediately before such transaction or transactions cease or, in the case of the execution of an agreement for such transaction or transactions, it is contemplated in
such agreement that upon consummation such persons would cease to constitute a majority of the Board of the Bank or, in the case where the Bank does not survive in such transaction, of the corporation surviving, continuing or resulting from such
transaction or transactions; or 

  

	 	(E)	Any other event which is at any time designated as a “Change in Control” for purposes of this Agreement by a resolution adopted by the Board with the affirmative vote of a majority of the non-employee
directors in office at the time the resolution is adopted; in the event any such resolution is adopted, the Change in Control event specified thereby shall be deemed incorporated herein by reference and thereafter may not be amended, modified or
revoked without the written agreement of the Director; or 

  

	 	(F)	During any period of two consecutive years during the term of this Agreement, individuals who at the beginning of such period constitute the Board cease for any reason to constitute at least a majority thereof, unless
the election of each director who was not a director at the beginning of such period has been approved in advance by directors representing at least two-thirds of the directors then in office who were directors at the beginning of the period,
provided however this provision shall not apply in the event two-thirds of the board of directors at the beginning of a period no longer are directors due to death, normal retirement, or other circumstances not related to a change in control.

 Notwithstanding anything else to the contrary set forth in this Agreement, if (i) an agreement is executed by the Bank
providing for any of the transactions or events constituting a Change in Control as defined herein, and the agreement subsequently expires or is terminated without the transaction or event being consummated, and (ii) Director’s service did
not terminate during the period after the agreement and prior to such expiration or termination, for purposes of this Agreement it shall be as though such agreement was never executed and no Change in Control event shall be deemed to have occurred
as a result of the execution of such agreement. 
  

	1.6	“Code” means the Internal Revenue Code of 1986, as amended. 

  
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	1.7	“Disability” means the Director suffering a sickness, accident or injury which has been determined by the carrier of any individual or group disability insurance policy covering the Director, or by the
Social Security Administration, to be a disability rending the Director totally and permanently disabled. The Director must submit proof to the Bank of the carrier’s or Social Security Administration’s determination upon request of the
Bank. 

  

	1.8	“Director’s Interest” means the benefit set forth in Section 2.2. 

  

	1.9	“Insurer” means the insurance company issuing the Policy on the life of the Director. 

  

	1.10	“Net Death Proceeds” means the total death proceeds of the Policy minus the greater of (i) the cash surrender value or (ii) the aggregate premiums paid by the Bank. 

 

	1.11	“Plan Administrator” means the plan administrator described in Article 12. 

  

	1.12	“Policy” or “Policies” means the individual insurance policy or policies adopted by the Bank for purposes of insuring the Director’s life under this Agreement. 

 

	1.13	“Separation from Service” means the Director ceases to be on the Board of the Bank for any reason whatsoever other than by reason of a leave of absence, which is approved by the Bank. 

 

	1.14	“Vested Insurance Benefit” means the Bank will provide the Director with continued insurance coverage from the date of vesting until death, subject to the forfeiture provisions detailed in
Section 3.2 and Article 6. Article 3 explains how the Director achieves vested status. 

  

	1.15	“Years of Service” means the number of consecutive twelve (12) month periods of the Director’s continuous service to the Bank, including leaves of absences approved by the Bank.

 Article 2 

Policy Ownership/Interests 
  

	2.1	Banks Interest. The Bank shall own the Policies and shall have the right to exercise all incidents of ownership and, subject to Article 4, the Bank may terminate a Policy without the consent of the Director. The
Bank shall be the beneficiary of the remaining death proceeds of the Policies after the Director’s Interest is determined according to Section 2.2 below. 

 

	2.2	Director’s Interest. The Director, or the Director’s assignee, shall have the right to designate the Beneficiary of an amount of death proceeds as specified in Section 2.2.1 and 2.2.2. The Director
shall also have the right to elect and change settlement options with respect to the Director’s Interest by providing written notice to the Bank and the Insurer. 

 

	 	2.2.1	Death Prior to Separation from Service. If the Director dies prior to Separation from Service, the Beneficiary shall be entitled to a benefit equal to One Hundred Thousand Dollars ($100,000), provided that such
benefit shall not exceed the Net Death Proceeds. 

  
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	 	2.2.2	Death After Separation from Service. If, pursuant to Article 3, the Director has a Vested Insurance Benefit at the date of death, the Director’s Beneficiary shall be entitled to a benefit equal to one
Hundred Thousand Dollars ($100,000), provided that such amount shall not exceed the Net Death Proceeds. If the Director has not achieved a Vested Insurance Benefit on the date of death, the Beneficiary will not be entitled to a benefit under this
Agreement. 

 Article 3 

Vesting 
  

	3.1	Vested Insurance Benefit. The Director shall have a Vested Insurance Benefit equal to the amount specified in Section 2.2 at the earliest of the following events: 

 

	 	3.1.1	Attainment of age seventy (70) prior to Separation from Service; 

  

	 	3.1.2	Attainment of age sixty (60) and twenty (20) Years of Service with the Bank; 

  

	 	3.1.3	Separation from Service due to Disability; 

  

	 	3.1.4	A Change in Control prior to Separation from Service; or 

  

	 	3.1.5	Adoption, by the Board at its discretion, of a resolution entitling the Director to the Vested Insurance Benefit in Section 2.2 under circumstances not otherwise addressed in this Section 3.1.

  

	3.2	Forfeiture of Benefit. Notwithstanding the provisions of Section 3.1, the Director will forfeit his or her Vested Insurance Benefit if (i) the Director violates any of the provisions detailed in Article
6; (ii) in the case of a disabled Director who vested pursuant to Section 3.1.3, if the Director becomes gainfully employed by an entity other than the Bank; or (iii) or the Director provides written notice to the Bank declining
further participation in the Agreement. 

 Article 4 

Comparable Coverage 
  

	4.1	Insurance Policies. The Bank may provide the benefits of this Agreement through the Policies purchased at the commencement of this Agreement, or may provide comparable insurance coverage to the Director through
whatever means the Bank deems appropriate. If the Director waives or forfeits his or her right to the interests in Section 2.2, the Bank may choose to cancel the Policy or Policies on the Director, or may continue such coverage and become the
direct beneficiary of the entire death proceeds. 

  

	4.2	Offer to Purchase. If the Bank discontinues a Policy at any time when the Director has an interest in the Policy, the Bank shall give the Director at least thirty (30) days to purchase such Policy. The
purchase price shall be the fair market value of the Policy, as determined under Treasury Reg. §1.61-22(g)(2) or any subsequent applicable authority. Such notification shall be in writing. 

  
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 Article 5 

Premiums and Imputed Income 
  

	5.1	Premium Payment. The Bank shall pay all premiums due on all Policies. 

  

	5.2	Economic Benefit. The Bank shall determine the economic benefit attributable to the Director based on the life insurance premium factor for the Director’s age multiplied by the aggregate death benefit
payable to the Beneficiary. The “life insurance premium factor” is the minimum factor applicable under guidance published pursuant to Treasury Reg.§ 1.61-22(d)(3)(ii) or any subsequent authority. 

 

	5.3	Imputed Income. The Bank shall impute the economic benefit to the Director on an annual basis, by adding the economic benefit to the Director’s Form 1099. 

Article 6 
 General
Limitations 
  

	6.1	Excess Parachute or Golden Parachute Payment. Notwithstanding any provision of this Agreement to the contrary, the Bank shall not pay any benefit under this Agreement to the extent the benefit would be an
“excess parachute payment” under Section 280G of the Code, or would be a prohibited golden parachute payment pursuant to 12 C.F.R. §359.2 and for which the appropriate federal banking agency has not given written consent to pay
pursuant to 12 C.F.R. §359.4. All benefits payable under this Agreement shall also be subject to limitations or prohibitions imposed by subsequent changes or amendments to the cited laws and regulations, except to the extent that any benefits
payable under this Agreement are grandfathered or otherwise exempt or excluded from the change or amendment. 

  

	6.2	Termination for Cause. Notwithstanding any provision of this Agreement to the contrary, the Director shall forfeit any right to a benefit under this Agreement if the Bank terminates the Director’s service
for cause. Termination of the Director’s service for “Cause” shall mean termination because of personal dishonesty, willful misconduct, 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 offenses) or final cease-and-desist order or material breach of any provision of the Agreement. For purposes of this paragraph, no act or failure to act on
the Director’s part shall be considered “willful” unless done, or omitted to be done, by the Director not in good faith and without reasonable belief that the Director’s action or omission was in the best interest of the Bank.

  

	6.3	Removal. Notwithstanding any provision of this Agreement to the contrary, the Director’s rights in the Agreement shall terminate if the Director is subject to a final removal or prohibition order issued by
an appropriate federal banking agency pursuant to Section 8(e) of the Federal Deposit Insurance Act. Notwithstanding anything herein to the contrary, any payments made to the Director pursuant to this Agreement, or otherwise, shall be subject
to and conditioned upon compliance with 12 U.S.C. 1828 and FDIC regulation 12 CFR Part 359, Golden Parachute Indemnification Payments and any other regulations or guidance promulgated thereunder. 

  
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	6.4	Forfeiture Provision. The Director shall forfeit any non-distributed benefits under this Agreement if during the term of this Agreement, the Director, directly or indirectly, either as an individual or as a
proprietor, stockholder, partner, officer, director, employee, agent, consultant or independent contractor of any individual, partnership, corporation or other entity (excluding an ownership interest of three percent (3%) or less in the stock
of a publicly-traded company): 

  

	 	(i)	becomes employed by, participates in, or becomes connected in any manner with the ownership, management, operation or control of any bank, savings and loan or other similar financial institution if the Director’s
responsibilities will include providing banking or other financial services within twenty-five (25) miles of any office maintained by the Bank as of the date of Separation from Service; 

 

	 	(ii)	participates in any way in hiring or otherwise engaging, or assisting any other person or entity in hiring or otherwise engaging, on a temporary, part-time or permanent basis, any individual who was employed by the Bank
as of the date of Separation from Service; 

  

	 	(iii)	assists, advises, or serves in any capacity, representative or otherwise, any third party in any action against the Bank or transaction involving the Bank; 

 

	 	(iv)	sells, offers to sell, provides banking or other financial services, assists any other person in selling or providing banking or other financial services, or solicits or otherwise competes for, either directly or
indirectly, any orders, contract, or accounts for services of a kind or nature like or substantially similar to the financial services performed or financial products sold by the Bank (the preceding hereinafter referred to as “Services”),
to or from any person or entity from whom the Director or the Bank, to the knowledge of the Director provided banking or other financial services, sold, offered to sell or solicited orders, contracts or accounts for Services during the three
(3) year period immediately prior to Separation from Service; 

  

	 	(v)	divulges, discloses, or communicates to others in any manner whatsoever, any confidential information of the Bank, to the knowledge of the Director, including, but not limited to, the names and addresses of customers or
prospective customers, of the Bank, as they may have existed from time to time, of work performed or services rendered for any customer, any method and/or procedures relating to projects or other work developed for the Bank, earnings or other
information concerning the Bank. The restrictions contained in this subparagraph (v) apply to all information regarding the Bank, regardless of the source who provided or compiled such information. Notwithstanding anything to the contrary, all
information referred to herein shall not be disclosed unless and until it becomes known to the general public from sources other than the Director. 

  
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	 	6.4.1	Judicial Remedies. In the event of a breach or threatened breach by the Director of any provision of these restrictions, the Director recognizes the substantial and immediate harm that a breach or threatened
breach will impose upon the Bank, and further recognizes that in such event monetary damages may be inadequate to fully protect the Bank. Accordingly, in the event of a breach or threatened breach of this Agreement, the Director consents to the
Bank’s entitlement to such ex parte, preliminary, interlocutory, temporary or permanent injunctive, or any other equitable relief, protecting and fully enforcing the Bank’s rights hereunder and preventing the Director from further
breaching any of his obligations set forth herein. The Director expressly waives any requirement based on any statute, rule of procedure, or other source that the Bank post a bond as a condition of obtaining any of the above-described remedies.
Nothing herein shall be construed as prohibiting the Bank from pursuing any other remedies available to the Bank at law or in equity for such breach or threatened breach, including the recovery of damages from the Director. The Director expressly
acknowledges and agrees that: (i) the restrictions set forth in Section 6.4 hereof are reasonable in terms of scope, duration, geographic area, or otherwise, (ii) the protections afforded the Bank in Section 6.4 hereof are
necessary to protect its legitimate business interest, (iii) the restrictions set forth in Section 6.4 hereof will not be materially adverse to the Director’s service with the Bank, and (iv) his agreement to observe such
restrictions forms a material part of the consideration for this Agreement. 

  

	 	6.4.2	Overbreadth of Restrictive Covenant. It is the intention of the parties that if any restrictive covenant in this Agreement is determined by a court of competent jurisdiction to be overly broad, then the court
should enforce such restrictive covenant to the maximum extent permitted under the law as to area, breadth and duration. 

  

	 	6.4.3	Change in Control. The forfeiture provision detailed in Section 6.4 hereof shall not be enforceable following a Change in Control. 

 

	6.5	Suicide or Misstatement. No benefits shall be payable if the Director commits suicide within two years after the date of this Agreement, or if the insurance company denies coverage (i) for material
misstatements of fact made by the Director on any application for life insurance purchased by the Bank, or (ii) for any other reason; provided, however that the Bank shall evaluate the reason for the denial, and upon advice of legal counsel and
in its sole discretion, consider judicially challenging any denial. 

 Article 7 

Assignment 
 The Director
may irrevocably assign without consideration all of the Director’s Interest in this Agreement to any person, entity, or trust. In the event the Director shall transfer all of the Director’s Interest, then all of the Director’s
Interest in this Agreement shall be vested in the Director’s transferee, who shall be substituted as a party hereunder, and the Director shall have no further interest in this Agreement. 

  
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 Article 8 

Insurer 
 The Insurer shall
be bound only by the terms of its given Policy. The Insurer shall not be bound by or deemed to have notice of the provisions of this Agreement. The Insurer shall have the right to rely on the Bank’s representations with regard to any
definitions, interpretations or Policy interests as specified under this Agreement. 
 Article 9 

Claims And Review Procedure 
  

	9.1	Claims Procedure. The Director or Beneficiary (“claimant”) who has not received benefits under the Agreement that he or she believes should be paid shall make a claim for such benefits as follows:

  

	 	9.1.1	Initiation—Written Claim. The claimant initiates a claim by submitting to the Plan Administrator a written claim for the benefits. If such a claim relates to the contents of a notice received by the
claimant, the claim must be made within sixty (60) days after such notice was received by the claimant. All other claims must be made within one hundred eighty (180) days of the date on which the event that caused the claim to arise
occurred. The claim must state with particularity the determination desired by the claimant. 

  

	 	9.1.2	Timing of Plan Administrator Response. The Plan Administrator shall respond to such claimant within ninety (90) days after receiving the claim. If the Plan Administrator determines that special circumstances
require additional time for processing the claim, the Plan Administrator can extend the response period by an additional ninety (90) days by notifying the claimant in writing, prior to the end of the initial ninety (90) day period that an
additional period is required. The notice of extension must set forth the special circumstances and the date by which the Plan Administrator expects to render its decision. 

 

	 	9.1.3	Notice of Decision. If the Plan Administrator denies part or all of the claim, the Plan Administrator shall notify the claimant in writing of such denial. The Plan Administrator shall write the notification in a
manner calculated to be understood by the claimant. The notification shall set forth: 

  

	 	(a)	The specific reasons for the denial; 

  

	 	(b)	A reference to the specific provisions of the Agreement on which the denial is based; 

  

	 	(c)	A description of any additional information or material necessary for the claimant to perfect the claim and an explanation of why it is needed; 

 

	 	(d)	An explanation of the Agreement’s review procedures and the time limits applicable to such procedures; and 

  

	 	(e)	A statement of the claimant’s right to bring a civil action under ERISA Section 502(a) following an adverse benefit determination on review. 

  
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	9.2	Review Procedure. If the Plan Administrator denies part or all of the claim, the claimant shall have the opportunity for a full and fair review by the Plan Administrator of the denial, as follows:

  

	 	9.2.1	Initiation- Written Request. To initiate the review, the claimant, within sixty (60) days after receiving the Plan Administrator’s notice of denial, must file with the Plan Administrator a written
request for review. 

  

	 	9.2.2	Additional Submissions—Information Access. The claimant shall then have the opportunity to submit written comments, documents, records and other information relating to the claim. The Plan Administrator
shall also provide the claimant, upon request and free of charge, reasonable access to, and copies of, all documents, records and other information relevant (as defined in applicable ERISA regulations) to the claimant’s claim for benefits.

  

	 	9.2.3	Considerations on Review. In considering the review, the Plan Administrator shall take into account all materials and information the claimant submits relating to the claim, without regard to whether such
information was submitted or considered in the initial benefit determination. 

  

	 	9.2.4	Timing of Plan Administrator’s Response. The Plan Administrator shall respond in writing to such claimant within sixty (60) days after receiving the request for review. If the Plan Administrator
determines that special circumstances require additional time for processing the claim, the Plan Administrator can extend the response period by an additional sixty (60) days by notifying the claimant in writing, prior to the end of the initial
sixty (60) day period that an additional period is required. The notice of extension must set forth the special circumstances and the date by which the Plan Administrator expects to render its decision. 

 

	 	9.2.5	Notice of Decision. The Plan Administrator shall notify the claimant in writing of its decision on review. The Plan Administrator shall write the notification in a manner calculated to be understood by the
claimant. The notification shall set forth: 

  

	 	(a)	The specific reasons for the denial; 

  

	 	(b)	A reference to the specific provisions of the Agreement on which the denial is based; 

  

	 	(c)	A statement that the claimant is entitled to receive, upon request and free of charge, reasonable access to, and copies of, all documents, records and other information relevant (as defined in applicable ERISA
regulations) to the claimant’s claim for benefits; and (d) A statement of the claimant’s right to bring a civil action under ERISA Section 502(a). 

  
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 Article 10 

Amendments And Termination 
  

	10.1	Non-Vested Insurance Benefit. Unless the Director has a Vested Insurance Benefit pursuant to Section 3 .I, the Bank may amend or terminate the Agreement at any time, or may amend or terminate the
Director’s rights under the Agreement at any time prior to the Director’s death, by providing written notice of such to the Director. In the event that the Bank decides to maintain the Policy after termination of the Agreement, the Bank
shall be the direct beneficiary of the entire death proceeds of the Policy. 

  

	10.2	Vested Insurance Benefit. If the Director has a Vested Insurance Benefit, the Bank may amend or terminate the Agreement only if: (i) continuation of the Agreement would cause significant financial harm to
the Bank, and (ii) the Director agrees to such action. 

 Article 11 

Beneficiaries 
  

	11.1	Beneficiary. The Director shall have the right, at any time, to designate a Beneficiary to receive any benefits payable under the Agreement upon the death of the Director. The Beneficiary designated under this
Agreement may be the same as or different from the beneficiary designated under any other Agreement of the Bank in which the Director participates. 

  

	11.2	Beneficiary Designation; Change. The Director shall designate a Beneficiary by completing and signing the Beneficiary Designation Form, and delivering it to the Bank or its designated agent. The Director’s
beneficiary designation shall be deemed automatically revoked if the Beneficiary predeceases the Director or if the Director names a spouse as Beneficiary and the marriage is subsequently dissolved. The Director shall have the right to change a
Beneficiary by completing, signing and otherwise complying with the terms of the Beneficiary Designation Form and the Bank’s rules and procedures, as in effect from time to time. Upon the acceptance by the Bank of a new Beneficiary Designation
Form, all Beneficiary designations previously filed shall be cancelled. The Bank shall be entitled to rely on the last Beneficiary Designation Form filed by the Director and accepted by the Bank prior to the Director’s death. 

 

	11.3	Acknowledgment. No designation or change in designation of a Beneficiary shall be effective until received, accepted and acknowledged in writing by the Bank or its designated agent. 

 

	11.4	No Beneficiary Designation. If the Director dies without a valid designation of beneficiary, or if all designated Beneficiaries predecease the Director, then the Director’s surviving spouse shall be the
designated Beneficiary. If the Director has no surviving spouse, the benefits shall be made payable to the Director’s estate. 

  

	11.5	 Facility of Payment. If the Bank determines in its discretion that a benefit is to be paid to a minor, to a person declared incompetent, or to
a person incapable of handling the disposition of that person’s property, the Bank may direct payment of such benefit to the guardian, legal representative or person having the care or custody of such minor,

  
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incompetent person or incapable person. The Bank may require proof of incompetence, minority or guardianship as it may deem appropriate prior to distribution of the benefit. Any payment of a
benefit shall be a payment for the account of the Director and the Director’s Beneficiary, as the case may be, and shall be a complete discharge of any liability under the Agreement for such payment amount. 

Article 12 

Administration 
  

	12.1	Plan Administrator Duties. This Agreement shall be administered by a Plan Administrator which shall consist of the Board, or such committee or persons as the Board may choose. The Plan Administrator shall also
have the discretion and authority to (i) make, amend, interpret and enforce all appropriate rules and regulations for the administration of this Agreement and (ii) decide or resolve any and all questions including interpretations of this
Agreement, as may arise in connection with this Agreement. 

  

	12.2	Agents. In the administration of this Agreement, the Plan Administrator may employ agents and delegate to them such administrative duties as it sees fit, (including acting through a duly appointed
representative), and may from time to time consult with counsel who may be counsel to the Bank. 

  

	12.3	Binding Effect of Decisions. The decision or action of the Plan Administrator with respect to any question arising out of or in connection with the administration, interpretation and application of this Agreement
and the rules and regulations promulgated hereunder shall be final and conclusive and binding upon all persons having any interest in this Agreement. 

  

	12.4	Indemnity of Plan Administrator. The Bank shall indemnify and hold harmless the members of the Plan Administrator against any and all claims, losses, damages, expenses or liabilities arising from any action or
failure to act with respect to this Agreement, except in the case of willful misconduct by the Plan Administrator or any of its members. 

  

	12.5	Information. To enable the Plan Administrator to perform its functions, the Bank shall supply full and timely information to the Plan Administrator on all matters relating to the Disability, death or Separation
from Service of the Director, and such other pertinent information as the Plan Administrator may reasonably require. 

Article 13 

Miscellaneous 
  

	13.1	Binding Effect. This Agreement shall bind the Director and the Bank, their beneficiaries, survivors, executors, administrators and transferees and any Beneficiary. 

 

	13.2	No Guarantee of Service. This Agreement is not an employment policy or contract. It does not give the Director the right to remain a director of the Bank, nor does it interfere with the Bank’s right to
discharge the Director. It also does not require the Director to remain a director nor interfere with the Director’s right to terminate service at any time. 

  
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	13.3	Applicable Law. The Agreement and all rights hereunder shall be governed by and construed according to the laws of the State of New Jersey except to the extent preempted by the laws of the United States of
America. 

  

	13.4	Reorganization. The Bank shall not merge or consolidate into or with another company, or reorganize, or sell substantially all of its assets to another company, firm or person unless such succeeding or continuing
company, firm or person agrees to assume and discharge the obligations of the Bank under this Agreement. Upon the occurrence of such event, the term “Bank” as used in this Agreement shall be deemed to refer to the successor or survivor
company. 

  

	13.5	Notice. Any notice or filing required or permitted to be given to the Bank under this Agreement shall be sufficient if in writing and hand-delivered, or sent by registered or certified mail, to the address below:

  

					
		  	 16 Sara Drive
 Robbinsville, NJ 08691
	  	

 Such notice shall be deemed given as of the date of delivery or, if delivery is made by mail, as of the date
shown on the postmark or the receipt for registration or certification. 
 Any notice or filing required or permitted to be given to the
Director under this Agreement shall be sufficient if in writing and hand-delivered, or sent by mail, to the last known address of the Director. 
  

	13.6	Entire Agreement. This Agreement, along with the Director’s Beneficiary Designation Form, constitutes the entire agreement between the Bank and the Director as to the subject matter hereof. No rights are
granted to the Director under this Agreement other than those specifically set forth herein. 

  
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 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date indicated above. 

 

									
	DIRECTOR:	 		 	BANK:
			
		 		 	Roma Bank
				
	 /s/ Michele N. Siekerka
	 		 	By	 	/s/ Margaret T. Norton
	Michele N. Siekerka	 		 	Title Sr. Vice President

  
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 ADDENDUM TO THE 

SPLIT DOLLAR LIFE INSURANCE AGREEMENT 

by and between 
 ROMA
BANK, INVESTORS BANK and Michele N. Siekerka 
 THIS ADDENDUM (this “Addendum”) to the Split Dollar Life Insurance
Agreement (the “Agreement”) by and between Michele N. Siekerka (the “Director”) and Roma Bank (“Roma”) dated July 25th, 2007 (the “Agreement”), is made
by and among the Director, Roma and Investors Bank (“Investors”) as of this 6th day of December, 2013. 
 WHEREAS, the
Board of Directors of Investors and Roma each have, by resolution, adopted and agreed to an Agreement and Plan of Merger (the “Merger Agreement”), dated December 19, 2012, by and among (i) Investors Bancorp, MHC, Investors
Bancorp, Inc., Investors, and (ii) Roma Financial Corporation, MHC, Roma Financial Corporation and Roma; and 
 WHEREAS, the
Merger Agreement provides for, among other things, the merger of Roma Financial Corporation, MHC with and into Investors Bancorp, MHC, the merger of Roma Financial Corporation with and into Investors Bancorp, Inc. and the merger of Roma with and
into Investors (the “Merger”); and 
 WHEREAS, pursuant to Section 13.4 of the Agreement, Roma shall not merge or
consolidate into or with another company, or reorganize, or sell substantially all of its assets to another company, firm or person unless such succeeding or continuing company, firm or person agrees to assume and discharge the obligations of Roma
under the Agreement; and 
 WHEREAS, the purposes of this Addendum is for Investors to acknowledge and affirm its requirements under
the Agreement and to reaffirm the insurance benefits payable to the Director under the Agreement. 
 WHEREAS, any capitalized terms
that are used but not specifically defined herein shall have the meaning ascribed to them in the Agreement or the Merger Agreement, as applicable. 

NOW, THEREFORE, in consideration of the premises and covenants contained herein, the parties hereto, do hereby agree that this Addendum
by and among the Director, Roma and Investors is hereby made as follows: 
 1. To the extent that the Director’s Insurance Benefit
under the Agreement is unvested immediately prior to the Merger, and the Director has not separated from service prior to the effective time of the Merger (the “Effective Time”), it shall become fully vested as of and subject to the
occurrence of the Merger in accordance with Section 3.1 of the Agreement. As of and following the Merger, the Director will have a Vested Insurance Benefit, and in the event of the Director’s death the Director’s Beneficiary shall be
entitled to a benefit, equal to $100,000 in accordance with, and subject to the limitations of, Section 2.2 and Article 6 of the Agreement, including that such benefit shall not exceed the Net Death Proceeds as defined in the Agreement.

 2. Investors hereby agrees to assume and discharge the obligations of Roma under the Agreement as
of and following the Effective Time, and hereby specifically acknowledges and affirms its continuing obligations under the Agreement with respect to the Director’s Vested Insurance Benefit under the Agreement as of and following the Effective
Time, including the obligation to make any payments required in accordance with the terms of such Agreement. 
 3. Investors hereby
acknowledges and affirms that it shall continue the Agreement after the Effective Time; provided, however, that Investors reserves the right to, at its sole discretion, modify or terminate the Agreement at any time pursuant to the terms of such
Agreement, and provided that the Vested Insurance Benefit of the Director shall nevertheless be honored as of the date of such modification or termination. 

4. As of and following the Effective Time of the Merger, and in accordance with Section 13.4 of the Agreement, the term “Bank”
as used in the Agreement shall be deemed to refer to Investors, and any questions or communication intended for Investors should be directed as follows: 

Investors Bank 
 Human Resources
Department 
 101 JFK Parkway 

Short Hills, New Jersey 07078 

Attention: Ms. Julie O’Connor, Vice President and Benefits Manager 

Email: joconnor@luselaw.com 

Nothing contained herein shall be held to alter, vary, or affect any of the terms, provisions, or conditions of the Agreement other than as
stated above. In the event of any inconsistency between the terms of this Addendum and the Agreement, the terms of the Agreement shall control. 

[SIGNATURE PAGE TO FOLLOW] 

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

			
	ROMA BANK
		
	By:	 	 /s/ Peter Inverso

		 	

  

			
	INVESTORS BANK
		
	By:	 	 /s/ Domenick Cama

		 	

  

	
	DIRECTOR
	
	/s/ Michele N. Siekerka
	Michele N. SiekerkaEX-10.3

 EXHIBIT 10.3 

FORM OF ESCROW AGREEMENT 

THIS ESCROW AGREEMENT (this “Agreement”) is made and entered into as of this
             day of                     , 2014 by and among Hines
Securities, Inc., a Delaware corporation (the “Dealer Manager”), Hines Global REIT II, Inc., a Maryland corporation (the “Company”), and UMB Bank, N.A., as escrow agent, a national banking association organized and
existing under the laws of the United States of America (the “Escrow Agent”). 
 RECITALS 

WHERE AS, the Company proposes to offer and sell up to $2.0 billion of its Class A shares and Class C shares of common stock
(collectively, the “Shares”), on a best-efforts basis (excluding the shares of its common stock to be offered and sold pursuant to the Company’s distribution reinvestment plan), (the “Offering”) to investors
pursuant to the Company’s Registration statement on Form S-11 (File No. 333-191106), as amended from time to time (the “Offering Document”). The initial offering price of Class A shares will be $10.00 per share and
the initial offering price of the Class C shares will be $9.40 per share. 
 WHERE AS, the Dealer Manager has been engaged by the
Company to offer and sell the Shares on a best efforts basis through a network of participating broker-dealers (the “Dealers”). 

WHERE AS, the Company has agreed that the subscription price paid by subscribers for shares will be refunded to such subscribers if at
least $2.0 million of gross offering proceeds (the “Minimum Offering”) has not been raised within one year from the date the Offering Document becomes effective with the Securities and Exchange Commission (the “Closing
Date”). 
 WHERE AS, the Dealer Manager and the Company desire to establish an escrow account (the “Escrow
Account”), as further described herein in which funds received from subscribers will be deposited into an interest-bearing account entitled “UMB Bank, N.A., as Escrow Agent for Hines Global REIT II, Inc.” and the Company desires
that UMB Bank, N.A. act as escrow agent to the Escrow Account and Escrow Agent is willing to act in such capacity. 
 WHERE AS,
deposits received from residents of the State of Pennsylvania (the “Pennsylvania Subscribers”) will remain in the Escrow Account until the conditions of Section 3 hereof have been met. 

WHERE AS, the Escrow Agent has engaged DST Systems (the “Transfer Agent”) to examine for “good order” and to
act as record keeper, maintaining on behalf of the Escrow Agent the ownership records for the Escrow Account. In so acting, the Transfer Agent shall be acting solely in the capacity of agent for the Escrow Agent and not in any capacity on behalf of
the Company or the Dealer Manager, nor shall they have any interest other than that provided in this Agreement in assets in Transfer Agent’s possession as the agent of the Escrow Agent. 

 WHEREAS, in order to subscribe for Shares during the Escrow Period (as defined below), a
subscriber must deliver the full amount of its subscription: (i) by check, draft or money order made payable to the order of UMB Bank, N.A., as Escrow Agent for Hines Global REIT II, Inc., in U.S. dollars or (ii) by draft, wire transfer of
immediately available funds in U.S. dollars, made payable as provided in Section 11(2). 
 AGREEMENT 

NOW, THEREFORE, the Dealer Manager, the Company and the Escrow Agent agree to the terms of this Agreement as follows: 

1. Establishment of Escrow Account; Escrow Period. On or prior to the commencement of the offering of Shares pursuant to the Offering Document, the
Company shall establish the Escrow Account with the Escrow Agent, which shall be entitled “UMB Bank, N.A., as Escrow Agent for Hines Global REIT II, Inc.” The Escrow Agent hereby agrees to maintain the funds contributed by the Pennsylvania
Subscribers in a manner in which they may be separately accounted for by the records of the Transfer Agent so that the requirements set forth in Section 3 of this Agreement with respect to Pennsylvania Subscribers can be satisfied. This
Agreement shall be effective on the date on which the Offering Document becomes effective. Except as otherwise set forth herein for the Pennsylvania Subscribers, the escrow period shall commence upon the effectiveness of this Agreement and shall
continue until the earlier of (i) the date upon which the Escrow Agent receives confirmation from the Company and the Dealer Manager that the Company has raised the Minimum Offering, (ii) the Closing Date, or (iii) the termination of
the Offering by the Company prior to the receipt of the Minimum Offering (the “Escrow Period”). 
 2. Operation of the Escrow. 

(a) Deposits in the Escrow Account. During the Escrow Period, persons subscribing to purchase Shares will be instructed by the Company,
the Dealer Manager and the Dealers to make checks for subscriptions payable to the order of “UMB Bank, N.A., as Escrow Agent for Hines Global REIT II, Inc.” Any Dealer receiving a check not conforming to the foregoing instructions shall
return such check directly to such subscriber not later than the end of the next business day following its receipt. Checks received by the Dealer which conform to the foregoing instructions shall be transmitted for deposit in accordance with the
following procedures. Where, pursuant to a Dealer’s internal supervisory procedures, internal supervisory review is conducted at the same location at which subscription documents and checks are initially received from subscribers, checks will
be transmitted by the end of the next business day following receipt of the subscription documents and checks by the Dealer to the Escrow Agent until the Minimum Offering has been achieved, with respect to subscribers other than Pennsylvania
Subscribers (“Non-Pennsylvania Subscribers”), or until the Pennsylvania Minimum Offering (as defined in Section 3 hereof) has been achieved, with respect to Pennsylvania Subscribers. After the Minimum Offering has been
achieved, in the case of Non- Pennsylvania Subscribers, or after the Pennsylvania Minimum Offering has been achieved, in the case of Pennsylvania Subscribers, such subscription documents and checks will be transmitted by the end of the next business
day following receipt of the subscription documents and such checks by the Dealer to the Company or to such other account or agent as directed by the Company. Where, pursuant to a Dealer’s internal supervisory procedures, final internal
supervisory review is 

  
 - 2 - 

 
conducted at a different location (the “Final Review Office”), subscription documents and checks will be transmitted to the Final Review Office by the end of the next business
day following receipt of the subscription documents and checks by the Dealer. The Final Review Office will transmit such subscription documents and checks by the end of the next business day following receipt by the Final Review Office to the Escrow
Agent until the Minimum Offering has been achieved, with respect to Non- Pennsylvania Subscribers, or until the Pennsylvania Minimum Offering has been achieved, with respect to Pennsylvania Subscribers. After the Minimum Offering has been achieved,
with respect to Non- Pennsylvania Subscribers, or after the Pennsylvania Minimum Offering has been achieved, with respect to Pennsylvania Subscribers, such subscription documents and checks will be transmitted by the end of the next business day
following receipt by the Final Review Office to the Company or to such other account or agent as directed by the Company. 
 Dealers shall
deliver checks and completed subscription documents via overnight courier to the Escrow Agent at the address as provided for in Section 11(2), and wires payments shall be transmitted directly to the Escrow Account. Deposits shall be held in the
Escrow Account until such funds are disbursed in accordance with this Agreement. Prior to disbursement of the funds deposited in the Escrow Account, such funds shall not be subject to claims by creditors of the Company or any of its affiliates. If
any of the instruments of payment are returned to the Escrow Agent for nonpayment prior to raising the Minimum Offering, with respect to Non- Pennsylvania Subscribers, or prior to raising the Pennsylvania Minimum Offering, with respect to
Pennsylvania Subscribers, the Escrow Agent shall promptly notify the Transfer Agent and the Company in writing via mail, email or facsimile of such nonpayment, and the Escrow Agent is authorized to debit the Escrow Account in the amount of such
returned payment and the Transfer Agent shall delete the appropriate account from the records maintained by the Transfer Agent. The Transfer Agent will maintain a written account of each sale, which account shall set forth, among other things, the
following information: (i) the subscriber’s name and address, (ii) the subscriber’s social security number, (iii) the number of Shares purchased by such subscriber, and (iv) the amount paid by such subscriber for such
Shares. During the Escrow Period neither the Company nor the Dealer Manager will be entitled to any funds received into the Escrow Account. 

(b) Distribution of the Funds in the Escrow Account to Subscribers other than the Pennsylvania Subscribers. If at any time on or prior
to the Closing Date, the Minimum Offering has been raised, then upon the happening of such event, the funds in the Escrow Account shall remain in the Escrow Account until the Escrow Agent receives written direction provided by the Company and the
Dealer Manager instructing the Escrow Agent to deliver such funds as the Company shall direct (other than any funds received from Pennsylvania Subscribers which cannot be released until the conditions of Section 3 have been met). Thereafter,
the Escrow Agent shall release funds and any interest or other income earned thereon from the Escrow Account as directed by the Company pursuant to written instruction that the Company shall provide to the Escrow Agent from time to time. 

(c) If the Company has not raised the Minimum Offering on or prior to the Closing Date, the Transfer Agent shall provide the Escrow Agent the
information needed to return the funds in the Escrow Account, together with any remaining interest thereon, to each respective subscriber, and the Escrow Agent shall promptly create and dispatch checks and

  
 - 3 - 

 
wires drawn on the Escrow Account to return the full amount of the funds deposited in the Escrow Account, together with their pro rata share of any remaining interest thereon, to the respective
subscribers, and the Escrow Agent shall notify the Company and the Dealer Manager of its distribution of the funds. For the purposes of this Agreement “remaining interest” shall mean any interest that remains in the Escrow Account after
deducting the full amount of the escrow fees and expenses which have been or are due under this Agreement or have been paid hereunder. Any amounts previously paid hereunder will be reimbursed by the Escrow Agent to such party after applying the
interest to any escrow fees and expenses that are or will be due under this Agreement as of the Closing Date. The subscription payments returned to each subscriber shall be free and clear of any and all claims of the Company or any of its creditors.

 3. Distribution of the Funds from Pennsylvania Subscribers. 

(a) Notwithstanding anything to the contrary herein, disbursements of funds contributed by Pennsylvania Subscribers may only be distributed in
compliance with the provisions of this Section 3. Irrespective of any disbursement of funds from the Escrow Account pursuant to Section 2 hereof, the Escrow Agent will continue to place deposits from the Pennsylvania Subscribers into the
Escrow Account, until such time as the Company notifies the Escrow Agent in writing that total subscriptions (including amounts previously disbursed as directed by the Company and the amounts then held in the Escrow Account) equal or exceed
$66,666,667 (the “Pennsylvania Minimum Offering”), whereupon the Escrow Agent shall disburse to the Company, at the Company’s request, any funds from the Pennsylvania Subscribers received by the Escrow Agent for accepted
subscriptions, but not those funds of a subscriber whose subscription has been rejected or rescinded of which the Escrow Agent has been notified by the Company, or otherwise in accordance with the Company’s written request. 

(b) If the Company has not received total subscriptions of at least $66,666,667 within 120 days of the date the Company first receives a
subscription from a Pennsylvania Subscriber (the “Initial Escrow Period”), the Company shall notify each Pennsylvania Subscriber by certified mail or any other means (whereby receipt of delivery is obtained) of the right of Pennsylvania
Subscribers to have their investment returned to them. If, pursuant to such notice, a Pennsylvania Subscriber requests the return of his or her subscription funds within ten (10) days after receipt of the notification (the “Request
Period”), the Escrow Agent shall promptly refund, without interest or deduction, directly to each Pennsylvania Subscriber the fund deposited in the Escrow Account on behalf of the Pennsylvania Subscriber. 

(c) The funds of Pennsylvania Subscribers who do not request the return of their funds within the Request Period shall remain in the Escrow
Account for successive 120-day escrow periods (each a “Successive Escrow Period”), each commencing automatically upon the termination of the prior Successive Escrow Period, and the Company and Escrow Agent shall follow the notification and
payment procedure set forth in Section 3(b) above with respect to the Initial Escrow Period for each Successive Escrow Period, provided that any refunds made to a Pennsylvania Subscriber after a Successive Escrow Period shall include a pro rata
share of any interest earned thereon after the Initial Escrow Period, until 

  
 - 4 - 

 
the occurrence of the earliest of (i) the termination of the Offering, (ii) the receipt and acceptance by the Company of total subscriptions that equal or exceed $66,666,667 and the
disbursement of the Escrow Account on the terms specified in this Section 3, or (iii) all funds held in the Escrow Account that were contributed by Pennsylvania Subscribers having been returned to the Pennsylvania Subscribers in accordance
with the provisions hereof. 
 If, upon termination of the Offering, the Company has not received and accepted total subscriptions that equal
or exceed $66,666,667, all funds in the Escrow Account that were contributed by Pennsylvania Subscribers will be promptly returned in full to such Pennsylvania Subscribers, together with their pro rata share of any interest earned thereon pursuant
to instructions made by the Company, upon which the Escrow Agent may conclusively rely. 
 4. Funds in the Escrow Account. Upon receipt of funds from
subscribers, the Escrow Agent shall hold such funds in escrow pursuant to the terms of this Agreement. All such funds held in the Escrow Account shall be invested at the direction of the Company. Unless otherwise directed by the Company, the Escrow
Agent is hereby directed to invest all funds received under this Agreement in UMB Bank Money Market Special, a UMB Bank interest-bearing money market deposit account. The Escrow Agent shall be entitled to sell or redeem any such investment as
necessary to make any distributions required under this Agreement and shall not be liable or responsible for any loss resulting from any such sale or redemption. Notwithstanding the foregoing, all such funds shall not be invested in anything other
than “Short Term Investments” in compliance with Rule 15c2-4 of the Securities Exchange Act of 1934, as amended. Interest, if any, resulting from the investment of the funds in the Escrow Account shall be distributed according to this
Agreement. The Escrow Agent shall provide to the Company monthly statements (or more frequently as reasonably requested by the Company) on the account balance in the Escrow Account and the activity in such account since the last report. 

5. Duties of the Escrow Agent. The Escrow Agent shall have no duties or responsibilities other than those expressly set forth in this Agreement, and no
implied duties or obligations shall be read into this Agreement against the Escrow Agent. The Escrow Agent is not a party to, or bound by, any other agreement among the other parties hereto with respect to the subject matter hereof, and the Escrow
Agent’s duties shall be determined solely by reference to this Agreement. The Escrow Agent shall have no duty to enforce any obligation of any person, other than as provided herein. The Escrow Agent shall be under no liability to anyone by
reason of any failure on the part of any party hereto or any maker, endorser or other signatory of any document or any other person to perform such person’s obligations under any such document. 

6. Liability of the Escrow Agent; Indemnification. The Escrow Agent acts hereunder as a depository only. The Escrow Agent is not responsible or liable
in any manner for the sufficiency, correctness, genuineness or validity of this Agreement or with respect to the form of execution of the same. The Escrow Agent shall not be liable for any action taken or omitted by it, or any action suffered by it
to be taken or omitted, in good faith, and in the exercise of its own best judgment, and may rely conclusively and shall be protected in acting upon any order, notice, demand, certificate, opinion or advice of counsel (including counsel chosen by
the Escrow Agent), statement, instrument, report or other paper or document (not only as to its due execution 

  
 - 5 - 

 
and the validity and effectiveness of its provisions, but also as to the truth and acceptability of any information therein contained) which is reasonably believed by the Escrow Agent to be
genuine and to be signed or presented by the proper person(s). The Escrow Agent shall not be held liable for any error in judgment made in good faith by any of its officers or employees unless it shall be proved that the Escrow Agent was grossly
negligent or reckless in ascertaining the pertinent facts or acted intentionally in bad faith. The Escrow Agent shall not be bound by any notice of demand, or any waiver, modification, termination or rescission of this Agreement or any of the terms
hereof, unless evidenced by a writing delivered to the Escrow Agent signed by the proper party or parties and, if the duties or rights of the Escrow Agent are affected, unless it shall give its prior written consent thereto. 

The Escrow Agent may consult legal counsel and shall exercise reasonable care in the selection of such counsel, in the event of any dispute or question as to
the construction of any provisions hereof or its duties hereunder, and it shall incur no liability and shall be fully protected in acting in accordance with the reasonable opinion or instructions of such counsel. 

The Escrow Agent shall not be responsible, may conclusively rely upon and shall be protected, indemnified and held harmless by the Company, for the
sufficiency or accuracy of the form of, or the execution, validity, value or genuineness of any document or property received, held or delivered by it hereunder, or of the signature or endorsement thereon, or for any description therein; nor shall
the Escrow Agent be responsible or liable in any respect on account of the identity, authority or rights of the persons executing or delivering or purporting to execute or deliver any document, property or this Agreement. 

In the event that the Escrow Agent shall become involved in any arbitration or litigation relating to the funds in the Escrow Account, it is authorized to
comply with any decision reached through such arbitration or litigation. 
 The Company, hereby agrees to indemnify the Escrow Agent for, and to hold it
harmless against any loss, liability or expense incurred in connection herewith without gross negligence, recklessness or willful misconduct on the part of the Escrow Agent, including without limitation reasonable and documented legal or other fees
arising out of or in connection with its entering into this Agreement and carrying out its duties hereunder, including without limitation the costs and expenses of defending itself against any claim of liability in the premises or any action for
interpleader. The Escrow Agent shall not be under any obligation to institute or defend any action, suit, or legal proceeding in connection herewith, unless first indemnified and held harmless to its satisfaction in accordance with the foregoing,
except that it shall not be indemnified against any loss, liability or expense arising out of its own gross negligence, recklessness or willful misconduct. Such indemnity shall survive the termination or discharge of this Agreement or resignation of
the Escrow Agent. 
 7. The Escrow Agent’s Fee. Escrow Agent shall be entitled to fees and expenses for its regular services as Escrow Agent as
set forth in Exhibit A. Additionally, Escrow Agent is entitled to reasonable fees for extraordinary services and reimbursement of any reasonable out of pocket and extraordinary costs and expenses related to its obligations as Escrow
Agent under this Agreement, including, but not limited to, reasonable attorneys’ fees. All of the Escrow Agent’s compensation, costs and expenses shall be paid by the Company. 

  
 - 6 - 

 8. Security Interests. No party to this Agreement shall grant a security interest in any monies or other
property deposited with the Escrow Agent under this Agreement, or otherwise create a lien, encumbrance or other claim against such monies or borrow against the same. 

9. Dispute. In the event of any disagreement between the undersigned or the person or persons named in the instructions contained in this Agreement, or
any other person, resulting in adverse claims and demands being made in connection with or for any papers, money or property involved herein, or affected hereby, the Escrow Agent shall be entitled to refuse to comply with any demand or claim, as
long as such disagreement shall continue, and in so refusing to make any delivery or other disposition of any money, papers or property involved or affected hereby, the Escrow Agent shall not be or become liable to the undersigned or to any person
named in such instructions for its refusal to comply with such conflicting or adverse demands, and the Escrow Agent shall be entitled to refuse and refrain to act until: (a) the rights of the adverse claimants shall have been fully and finally
adjudicated in a Court assuming and having jurisdiction of the parties and money, papers and property involved herein or affected hereby, or (b) all differences shall have been adjusted by agreement and the Escrow Agent shall have been notified
thereof in writing, signed by all the interested parties. 
 10. Resignation of Escrow Agent. Escrow Agent may resign or be removed, at any time, for
any reason, by written notice of its resignation or removal to the proper parties at their respective addresses as set forth herein, at least 60 days before the date specified for such resignation or removal to take effect; upon the effective date
of such resignation or removal: 
 (a) All cash and other payments and all other property then held by the Escrow Agent
hereunder shall be delivered by it to such successor escrow agent as may be designated in writing by the Company, whereupon the Escrow Agent’s obligations hereunder shall cease and terminate; 

(b) If no such successor escrow agent has been designated by such date, all obligations of the Escrow Agent hereunder shall,
nevertheless, cease and terminate, and the Escrow Agent’s sole responsibility thereafter shall be to keep all property then held by it and to deliver the same to a person designated in writing by the Company or in accordance with the directions
of a final order or judgment of a court of competent jurisdiction. 
 (c) Further, if no such successor escrow agent has been
designated by such date, the Escrow Agent may petition any court of competent jurisdiction for the appointment of a successor agent; further the Escrow Agent may pay into court all monies and property deposited with Escrow Agent under this
Agreement. 
 11. Notices. All notices, demands and requests required or permitted to be given under the provisions hereof must be in writing and
shall be deemed to have been sufficiently given, upon receipt, if (i) personally delivered, (ii) sent by telecopy and confirmed by phone or (iii) mailed by registered or certified mail, with return receipt requested, or by overnight
courier with signature required, delivered to the addresses set forth below, or to such other address as a party shall have designated by notice in writing to the other parties in the manner provided by this paragraph: 

 

			
	 (1) If to Company:
	  	 Hines Global REIT II, Inc.

		  	 2800 Post Oak Boulevard

		  	 Suite 5000

		  	 Houston, Texas 77056-6118

  
 - 7 - 

			
	 (2) If to the Escrow Agent:
	  	UMB Bank, N.A., as Escrow Agent for Hines Global REIT II, Inc.
		  	1010 Grand Blvd., 4th Floor
		  	Mail Stop: 1020409
		  	Kansas City, Missouri 64106
		  	Attention: Lara Stevens,
		  	Corporate Trust & Escrow Services
		  	Telephone: (816) 860-3017
		  	Facsimile: (816) 860-3029
		
		  	Escrow Agent Wiring Instructions:
		  	UMB Bank, N.A.
		  	ABA Routing Number: 101000695
		  	Account Number:
		  	Account Name: UMB Bank, N.A. as Escrow Agent for Hines Global REIT II, Inc.
		
		  	Checks Payable Information:
		  	UMB Bank, N.A., as Escrow Agent for Hines Global REIT II, Inc.
		  	 Attention: Lara Stevens, Corporate Trust
 1010
Grand Boulevard, 4th Floor
 Mail Stop 1020409

Kansas City, Missouri 64106

		
	(3) If to Dealer Manager:	  	Hines Securities, Inc.
		  	Suite 4700
		  	2800 Post Oak Boulevard
		  	Houston, Texas 77056-6118

 12. Governing Law. This Agreement shall be construed and enforced in accordance with the laws of the State of Texas
without regard to the principles of conflicts of law. 
 13. Binding Effect; Benefit. This Agreement shall be binding upon and inure to the benefit
of the permitted successors and assigns of the parties hereto. 
 14. Modification. This Agreement may be amended, modified or terminated at any time
by a writing executed by the Dealer Manager, the Company and the Escrow Agent. 
 15. Assignability. This Agreement shall not be assigned by the
Escrow Agent without the Company’s prior written consent. 

  
 - 8 - 

 16. Counterparts. This Agreement may be executed in one or more counterparts, each of which will be deemed
an original, but all of which together will constitute one and the same instrument. Copies, telecopies, facsimiles, electronic files and other reproductions of original executed documents shall be deemed to be authentic and valid counterparts of
such original documents for all purposes, including the filing of any claim, action or suit in the appropriate court of law. 
 17. Headings. The
section headings contained in this Agreement are inserted for convenience only, and shall not affect in any way, the meaning or interpretation of this Agreement. 

18. Severability. This Agreement constitutes the entire agreement among the parties and supersedes all prior and contemporaneous agreements and
undertakings of the parties in connection herewith. No failure or delay of the Escrow Agent in exercising any right, power or remedy may be, or may be deemed to be, a waiver thereof; nor may any single or partial exercise of any right, power or
remedy preclude any other or further exercise of any right, power or remedy. In the event that any one or more of the provisions contained in this Agreement, shall, for any reason, be held to be invalid, illegal or unenforceable in any respect, then
to the maximum extent permitted by law, such invalidity, illegality or unenforceability shall not affect any other provision of this Agreement. 
 19.
Earnings Allocation; Tax Matters; Patriot Act Compliance; OFAC Search Duties. The Escrow Agent or its agent shall be responsible for all tax reporting under this Escrow Agreement at the direction of the Company. The Company shall provide to
Escrow Agent upon the execution of this Agreement any documentation requested and any information reasonably requested by the Escrow Agent to comply with the USA Patriot Act of 2001, as amended from time to time, including Exhibit B. The Escrow
Agent, or its agent, shall complete an OFAC search, in compliance with its policy and procedures, of each subscription check and shall inform the Company if a subscription check fails the OFAC search. The Dealer Manager shall provide a copy of each
subscription check in order that the Escrow Agent, or its agent, may perform such OFAC search. 
 20. Miscellaneous. This Agreement shall not be
construed against the party preparing it, and shall be construed without regard to the identity of the person who drafted it or the party who caused it to be drafted and shall be construed as if all parties had jointly prepared this Agreement and it
shall be deemed their joint work product, and each and every provision of this Agreement shall be construed as though all of the parties hereto participated equally in the drafting hereof; and any uncertainty or ambiguity shall not be interpreted
against any one party. As a result of the foregoing, any rule of construction that a document is to be construed against the drafting party shall not be applicable. 

21. Third Party Beneficiaries. The Transfer Agent shall be a third party beneficiary under this Agreement, entitled to enforce any rights, duties or
obligations owed to it under this Agreement notwithstanding the terms of any other agreements between the Transfer Agent and any party hereto. 
 22.
Termination of the Escrow Agreement. This Escrow Agreement, except for Sections 6 and 10 hereof, which shall continue in effect, shall terminate upon written notice from the Company to the Escrow Agent. Unless otherwise provided, final
termination of this Escrow Agreement shall occur on the date that all funds held in the Escrow Account are distributed either (a) to the Company or to subscribers and the Company has informed the Escrow Agent in writing to close the Escrow
Account or (b) to a successor escrow agent upon written instructions from the Company. 

  
 - 9 - 

 23. Relationship of Parties. The Dealer Manager, the Company and the Escrow Agent are unaffiliated
parties, and this Agreement does not create any partnership or joint venture among them. This Agreement may be filed as an exhibit to the Offering Document and the Escrow Agent consents to being named in any such Offering Document (including
exhibits and amendments thereto) in connection with the Offering. 
 [SIGNATURE PAGES FOLLOW] 

  
 - 10 - 

 IN WITNESS WHEREOF, the undersigned have caused this Agreement to be
executed by their duly authorized representatives as of the date first written hereinabove: 
  

			
	 DEALER MANAGER:
  

HINES SECURITIES, INC.

		
	By:	 	 
	Name:	 	
	Title:	 	

  

			
	 COMPANY:
  

HINES GLOBAL REIT II, INC.

		
	By:	 	 
	Name:	 	
	Title:	 	

  

			
	 ESCROW AGENT:
  

UMB BANK, N.A.

		
	By:	 	 
	Name:	 	Lara L. Stevens
	Title:	 	Vice President

  
 - 11 - 

 EXHIBIT A 

ESCROW FEES AND EXPENSES 
  

			
	 Acceptance Fee
	  	
	 Review document, establish accounts, and
	  	
	 Set up recon file/feeds with DST
	  	$1,750
		
	 Annual Fee
	  	
	 Annual Escrow Agent
	  	$2,000
		
	 Transactional Fees, if applicable
	  	
	 Outgoing Wire Transfer
	  	$35 each
	 Daily BAI File to DST
	  	$2.50 per Business Day
	 Daily Wire Ripping to DST
	  	$10.00 per Business Day
	 Web Exchange Access
	  	$60 per month
	 Overnight Delivery/Mailings
	  	$16.50 each
	 IRS Tax Reporting
	  	$10 per Form 1099

 Acceptance fee will be payable at the initiation of the escrow. Thereafter, annual Escrow Agent fee and Transactional fees, if
any, will be billed in quarterly in arrears. Other fees and expenses will be billed as incurred. 
 Fees specified are for the regular, routine services
contemplated by the Escrow Agreement, and any additional or extraordinary services, including, but not limited to disbursements involving a dispute or arbitration, or administration while a dispute, controversy or adverse claim is in existence, will
be charged based upon time required at the then standard hourly rate. In addition to the specified fees, all expenses related to the administration of the Escrow Agreement (other than normal overhead expenses of the regular staff) such as, but not
limited to, travel, postage, shipping, courier, telephone, facsimile, supplies, legal fees, accounting fees, etc., will be reimbursable. 

  
 - 12 - 

 EXHIBIT B 

CERTIFICATE AS TO AUTHORIZED SIGNATURES 
 The
specimen signatures shown below are the specimen signatures of the individuals who have been designated as Authorized Representatives of Hines Global REIT II, Inc. and are authorized to initiate and approve transactions of all types for the
above-mentioned account on behalf of Hines Global REIT II, Inc.: 
  

			
	Name/Title	  	Signature
	                                     
                                         
                                         
     	  	  
  

 

	                                      
                                         
                                         
    	  	Signature
	                                     
                                         
                                         
     	  	  
  

	                                      
                                         
                                         
    	  	Signature
	                                     
                                         
                                         
     	  	  
  

	                                      
                                         
                                         
    	  	Signature

  
 - 13 -

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00226-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00226-of-00352.parquet"}]]