Document:

EX-10.1

 Exhibit 10.1 
  

 
 January 28, 2015 

PERSONAL AND CONFIDENTIAL 
 Alan Vickers 

EVP, Global Wholesale Sales and Operations, and General Manager, Americas Region 

Quiksilver, Inc. 
 5600 Argosy Circle, Building 100 

Huntington Beach, CA 92649 
  

	Re:	Continued Employment at Quiksilver, Inc. 

 Dear Alan: 

This letter (“Agreement”) will confirm our understanding and agreement regarding your continued employment with Quiksilver, Inc.
(“Quiksilver” or the “Company”), effective on and after January 1, 2015 (“Commencement Date”). This Agreement completely supersedes and replaces any existing or previous oral or written employment agreements,
express or implied, between you and the Company. 
  

	 	1.	Position; Exclusivity. The Company hereby agrees to continue to employ you as its Executive Vice President, Global Wholesale Sales and Operations, and General Manager, Americas Region, reporting to the Chief
Executive Officer of Quiksilver. During your employment with Quiksilver, you will devote your full professional and business time, interest, abilities and energies to the Company and will not render any services to any other person or entity,
whether for compensation or otherwise, or engage in any business activities competitive with or adverse to the Company’s business or welfare, whether alone, as an employee; as a partner; as a member or manager; as a shareholder, officer or
director of any other corporation; or as a trustee, fiduciary or in any other similar representative capacity of any other entity without the prior written consent of the Chief Executive Officer. 

 

	 	2.	 Base Salary. Your base salary will be $41,666.67 per month ($500,000 on an annualized basis), less applicable withholdings and deductions, paid
on the Company’s regular payroll dates. Your base salary will be reviewed at the time management salaries are reviewed periodically and may be adjusted (but not below $41,666.67 per month) at the Company’s discretion in light of the
Company’s performance, your performance, 

	 	
market conditions and other factors deemed relevant by the Company’s Board of Directors or the Compensation Committee of the Board of Directors (“Compensation Committee”).

  

	 	3.	Annual Discretionary Bonus. For each full fiscal year of employment with the Company (currently ending October 31), you shall be eligible for a discretionary bonus award pursuant to the Company’s
Incentive Compensation Plan, the specific terms and conditions of such award to be approved by the Board of Directors or the Compensation Committee at the time of the bonus award. Any payment received in connection with a bonus award shall be paid
within thirty (30) days following the date the Company publicly releases its annual audited financial statements, but in no event later than March 15 of the calendar year following the fiscal year for which the bonus is awarded. Any bonus
payments shall be less applicable withholdings and deductions. 

  

	 	4.	Vacation. Since Quiksilver does not have a vacation policy for executives of your level, no vacation days are earned or accrued by you. 

 

	 	5.	Health and Disability Insurance. You (and any eligible dependents you select) will be covered by the Company’s group health insurance programs on the same terms and conditions applicable to comparable
employees. You will also be covered by the long-term disability plan for senior executives on the same terms and conditions applicable to comparable employees. The Company reserves the right to change, modify, or eliminate such coverages in its
discretion. 

  

	 	6.	Clothing Allowance. You will be provided a clothing allowance of $5,000 per year at the Company’s wholesale prices. The Company reserves the right to change, modify, or eliminate such allowance in its
discretion. 

  

	 	7.	Stock Options. You shall be eligible to participate in Quiksilver’s Stock Incentive Plan, or any successor equity plan. The amount and terms of any restricted stock, stock options, stock appreciation rights
or other interests to be granted to you will be determined by the Board of Directors or the Compensation Committee in its discretion and covered in separate agreements, but shall be substantially similar to those granted to other senior executives
of Quiksilver of equivalent level. Stock options granted to you after the Commencement Date through the termination of your employment shall provide that if you are terminated by the Company without Cause (as hereinafter defined), as a result of
your death or permanent disability, or if you terminate your employment for Good Reason (as hereinafter defined), any such options outstanding will automatically vest in full on an accelerated basis so that the options will immediately prior to such
termination become exercisable for all option shares and remain exercisable until the earlier to occur of (i) the first anniversary of such termination, (ii) the end of the option term, or (iii) termination pursuant to other
provisions of the applicable option plan or agreement (e.g., a corporate transaction). 

  
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	 	8.	Life Insurance. The Company will pay the premium on a term life insurance policy on your life with a company and policy of its choice, and a beneficiary of your choice, in the face amount determined by the
Company of not less than $2,000,000. The Company’s obligation to obtain and maintain this insurance is contingent upon your establishing and maintaining insurability, and it is not required to pay premiums for such a policy in excess of $5,000
annually. 

  

	 	9.	Term and Termination. 

 (a) The term of this Agreement is from the Commencement Date
through and including October 31, 2016, at which time this Agreement (and your employment) shall automatically terminate without any additional notice; provided, however, that subject to the provisions herein, either you or
Quiksilver may terminate your employment at will and with or without Cause (as defined below) upon written notice at any time for any reason (or no reason); provided further, however, that you agree to provide the Company with thirty
(30) days advance written notice of your resignation (during which time the Company may elect, in its discretion, to relieve you of all duties and responsibilities). This at-will aspect of your employment relationship can only be changed by an
individualized written agreement signed by both you and an officer of the Company authorized to do so by the Board of Directors or the Compensation Committee. 

(b) The Company may also terminate your employment immediately, upon written notice, for Cause, which shall include, but not be limited to,
(i) your death (in which case written notice of termination of employment is not required), (ii) your permanent disability which renders you unable to perform the essential functions of your position even with reasonable accommodation,
(iii) willful misconduct in the performance of your duties, (iv) commission of a felony or violation of law involving moral turpitude or dishonesty, (v) self-dealing, (vi) willful breach of duty, (vii) habitual neglect of
duty, or (viii) a material breach by you of your obligations under this Agreement. If the Company terminates your employment for Cause, or you terminate your employment other than for Good Reason (as defined below), you (or your estate or
beneficiaries in the case of your death) shall receive your base salary and other benefits earned and accrued prior to the termination of your employment, and, in the case of a termination pursuant to subparagraphs (i) or (ii) only, a pro
rata portion of your bonus, if any, as provided in Paragraph 3 for the fiscal year in which such termination occurs, less applicable withholdings and deductions, which shall be payable not later than the effective date of your termination, and you
shall have no further rights to any other compensation or benefits hereunder on or after the termination of your employment. 
 “Good
Reason” for you to terminate employment means a voluntary termination as a result of (i) the assignment to you of duties materially inconsistent with your position as set forth above without your consent, (ii) a material change in
your reporting level from that set forth in this Agreement without your consent, (iii) a material diminution of your 

  
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authority without your consent, (iv) a material breach by the Company of its obligations under this Agreement, (v) a failure by the Company to obtain from any successor, before the
succession takes place, an agreement to assume and perform the obligations contained in this Agreement, or (vi) the Company requiring you to be based (other than temporarily) at any office or location outside of the Southern California area
without your consent. Notwithstanding the foregoing, Good Reason shall not exist unless you provide the Company written notice of termination on account thereof within ninety (90) days following the initial existence of one or more of the
conditions described in clauses (i) through (vi) and, if such event or condition is curable, the Company fails to cure such event or condition within thirty (30) days of such written notice. 

(c) If (i) Quiksilver elects to terminate your employment without Cause prior to October 31, 2016, (ii) this Agreement
automatically terminates on October 31, 2016, and your employment terminates effective the same date for any reason, voluntarily or involuntarily, or (iii) if you terminate your employment with the Company for Good Reason within six
(6) months of the action constituting Good Reason, the Company will (x) pay the full amount of any unpaid discretionary bonus that was earned from the preceding fiscal year, if any, at the time annual bonuses are paid to other executives,
but in no event later than March 15 of the calendar year following the fiscal year for which the bonus is awarded, and (y) if your termination of employment pursuant to this Paragraph 9(c) constitutes a “separation from service”
within the meaning of Treasury Regulation Section 1.409A-1(h), (A) continue to pay your base salary (but not any employment benefits) on its regular payroll dates for a period of eighteen
(18) months, less applicable withholdings and deductions, and (B) pay you a pro rata portion of the bonus adopted pursuant to Paragraph 3, if any, for the fiscal year in which such termination occurs, less applicable withholdings and
deductions. In order for you to be eligible to receive the payments specified in clause (y) of the foregoing provision of this Paragraph 9(c), you must execute a general release of claims in a form reasonably acceptable to the Company
(“General Release”), provided, however, that the General Release may exclude any claims for indemnification, advancement of expenses, or insurance that you may then have pursuant to the Company’s or any subsidiary’s
certificate of incorporation or bylaws, any indemnity agreement, or policy of insurance. The General Release must become effective within fifty-two (52) days following your separation from service or such earlier date as required by the General
Release (such deadline, the “Release Deadline”). Subject to Paragraph 9(e) below, any severance payments or benefits or other payments to which you are entitled during such fifty-two (52) day period shall be paid by the Company to you
in full arrears without interest on the fifty-third (53rd) day following your separation from service or such later date as is required to avoid the imposition of additional taxes, penalties or interest under Section 409A of the Internal
Revenue Code of 1986, as amended (the “Code”). You shall have no further rights to any other compensation or benefits hereunder on or after the termination of your employment. You shall not have a duty to seek substitute employment,

  
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and the Company shall not have the right to offset any compensation due you against any compensation or income received by you after the date of such termination. 

(d) In the event that any payment or benefit received or to be received by you from the Company (collectively, the “Payments”) would
constitute a parachute payment within the meaning of Section 280G(b)(2)(A) of the Code, then the following limitation shall apply: 

The aggregate present value of those Payments shall be limited in amount to the greater of the following dollar amounts (the “Benefit
Limit”): 
 (i) 2.99 times your Average Compensation (as defined below), or 

(ii) the amount which yields you the greatest after-tax amount of Payments under this Agreement after taking into account any excise tax
imposed under Code Section 4999 on those Payments. 
 The present value of the Payments will be measured as of the date of the
separation from service and determined in accordance with the provisions of Code Section 280G(d)(4). 
 Average Compensation means the
average of your W-2 wages from the Company for the five (5) calendar years completed immediately prior to the calendar year in which the separation from service is effected. Any W-2 wages for a partial year of employment will be annualized, in
accordance with the frequency which such wages are paid during such partial year, before inclusion in Average Compensation. 
 If the
Payments do not constitute a parachute payment, the provisions of this Paragraph 9(d) shall not apply to such Payments, 
 (e)
Notwithstanding the foregoing, to the extent the Company reasonably determines that any payment or benefit under this Agreement is subject to Section 409A of the Code, such payment or benefit shall be made at such times and in such forms as the
Company reasonably determines are required to comply with Code Section 409A (including, without limitation, in the case of a “specified employee” within the meaning of Code Section 409A, any payments that would otherwise be made
during the six-month period following separation of service will be paid in a lump sum on the first business day after the end of the six-month period) and the Treasury Regulations and the transitional relief thereunder; provided,
however, that in no event will the Company be required to provide you with any additional payment or benefit in the event that any of your payments or benefits trigger additional income tax under Code Section 409A or in the event that the
Company changes the time or form of your payments or benefits in accordance with this paragraph. 

  
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	 	10.	Trade Secrets; Confidential and/or Proprietary Information. The Company owns certain trade secrets and other confidential and/or proprietary information which constitute valuable property rights, which it has
developed through a substantial expenditure of time and money, which are and will continue to be utilized in the Company’s business and which are not generally known in the trade. This proprietary information includes the list of names of the
customers and suppliers of Quiksilver, and other particularized information concerning the products, finances, processes, material preferences, fabrics, designs, material sources, pricing information, production schedules, sales and marketing
strategies, sales commission formulae, merchandising strategies, order forms and other types of proprietary information relating to our products, customers and suppliers. You agree that you will not disclose and will keep strictly secret and
confidential all trade secrets and proprietary information of the Company, including, but not limited to, those items specifically mentioned above. 

  

	 	11.	Expense Reimbursement. The Company will reimburse you for documented reasonable and necessary business expenses incurred by you while engaged in business activities for the Company’s benefit on such terms
and conditions as shall be generally available to other executives of the Company. 

  

	 	12.	Compliance With Business Policies. You will be required to observe the Company’s personnel and business policies and procedures as they are in effect from time to time. In the event of any conflicts, the
terms of this Agreement will control. 

  

	 	13.	Entire Agreement. This Agreement, its addendum, and any confidentiality, stock option, restricted stock, stock appreciation rights or other similar agreements the Company may enter into with you contain the
entire integrated agreement between us regarding your employment, and no modification or amendment to this Agreement will be valid unless set forth in writing and signed by both you and an authorized officer of the Company. 

 

	 	14.	 Mutual Agreement to Arbitrate. To the fullest extent allowed by law, you and Quiksilver mutually agree that any controversy, claim or
dispute between you and the Company (and/or any of its subsidiaries, affiliates, owners, shareholders, directors, officers, employees, volunteers or agents) relating to or arising out of this Agreement, your employment or the termination of that
employment will be submitted to final and binding arbitration in Orange County, California, for determination in accordance with the Employment Arbitration Rules and Procedures of JAMS (the “Rules”). A copy of the Rules is available
from the Company’s Human Resources Department and can also be found on-line at www.jamsadr.com/rules-employment-arbitration. You acknowledge that you have read and reviewed the Rules to the
extent you so desired prior to signing this Agreement. In any such arbitration, the parties may conduct discovery to the same extent as would be permitted in a court of law. The arbitrator shall issue a reasoned, written decision/award,
and 

  
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shall have full authority to award all remedies which would be available in court. The Company shall pay the arbitrator’s fees and any JAMS administrative expenses. Any judgment
upon the award rendered by the arbitrator may be entered in any court having jurisdiction thereof. Possible disputes covered by this mutual arbitration agreement include (but are not limited to) unpaid wages, breach of contract (including this
Agreement), torts, violation of public policy, discrimination, harassment, or any other employment-related claims under laws including but not limited to, Title VII of the Civil Rights Act of 1964, the Americans With Disabilities Act, the Age
Discrimination in Employment Act, the California Fair Employment and Housing Act, the California Labor Code and any other statutes or laws relating to an employee’s relationship with his/her employer, regardless of whether such dispute is
initiated by you or the Company. Thus, this bilateral arbitration agreement fully applies to any and all claims that the Company may have against you, including (but not limited to) claims for misappropriation of Company property, disclosure of
proprietary information or trade secrets, interference with contract, trade libel, gross negligence, or any other claim for alleged wrongful conduct or breach of the duty of loyalty. Nevertheless, claims for workers’ compensation benefits
or unemployment insurance, those arising under the National Labor Relations Act, and any other claims where mandatory arbitration is prohibited by law, are not covered by this arbitration agreement, and such claims may be presented by either the
Company or you to the appropriate court or government agency. The court, not the arbitrator, shall rule on the arbitrator’s jurisdiction, including any objections with respect to the existence, scope or validity of this arbitration
agreement. Claims in arbitration shall be filed and maintained only on an individual basis. This means that you must file and maintain claims in arbitration only on behalf of yourself, and Quiksilver must file and maintain claims in
arbitration only on behalf of itself. You may not file or maintain any claim in arbitration on behalf of other employees, collectively with other employees, or as a named plaintiff/claimant or member in any purported class, collective, or
representative proceeding. The arbitrator may not consolidate more than one party’s claims, and may not otherwise preside over any form of collective, class, or representative arbitration proceeding. BY AGREEING TO THIS BINDING
ARBITRATION PROVISION, BOTH YOU AND THE COMPANY GIVE UP ALL RIGHTS TO TRIAL BY JURY. This mutual and bilateral arbitration agreement, which shall be governed by the Federal Arbitration Act, is to be construed as broadly as is permissible under
applicable law. 

  

	 	15.	Compliance with Section 409A. 

 (a) This Agreement is intended to comply with the
requirements of Section 409A of the Code, and the regulations and other guidance promulgated thereunder. Accordingly, all provisions herein shall be construed and interpreted to comply with Code Section 409A and if necessary, any such
provision shall be deemed amended to comply with Code Section 409A and the regulations and other guidance promulgated thereunder. 

  
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 (b) Any payments to which you become entitled under Paragraph 9(c) hereof shall be treated as the
right to receive a series of separate payments for purposes of Code Section 409A. 
 (c) Paragraph 15(a) above shall not be construed as
a guarantee by the Company of any particular tax effect to you under this Agreement, however. The Company shall not be liable to you if any payment or benefit made or provided under this Agreement is determined to result in additional tax, penalty
or interest under Code Section 409A, nor for reporting to the Internal Revenue Service or other taxing authority in good faith any payment or benefit made or provided under this Agreement as an amount includible in gross income under
Section 409A or as a violation of Section 409A. 
 (d) With respect to any reimbursement of expenses to which you are entitled
under this Agreement, or any provision of in-kind benefits to you as specified under this Agreement, such reimbursement of expenses or provision of in-kind benefits shall be subject to the following conditions: (i) the expenses eligible for
reimbursement or the amount of in-kind benefits provided in one taxable year shall not affect the expenses eligible for reimbursement or the amount of in-kind benefits provided in any other taxable year, except for any medical reimbursement
arrangement providing for the reimbursement of expenses referred to in Section 105(b) of the Code, solely to the extent that the arrangement provides for a limit on the amount of expenses that may be reimbursed under such arrangement over some
or all of the period in which the reimbursement arrangement remains in effect; (ii) the reimbursement of an eligible expense shall be made no later than the end of the calendar year after the calendar year in which such expense was incurred;
and (iii) the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit. 
  

	 	16.	Clawback Compliance. Any amounts paid pursuant to this Agreement shall be subject to recoupment in accordance with any clawback policy that the Company has adopted or is required in the future to adopt pursuant
to the listing standards of any national securities exchange or association on which the Company’s securities are listed or as is otherwise required by the Dodd-Frank Wall Street Reform and Consumer Protection Act or other applicable law.

  

	 	17.	Successors and Assigns. This Agreement will be assignable by the Company to any successor or to any other company owned or controlled by the Company, and will be binding upon any successor to the business of the
Company, whether direct or indirect, by purchase of securities, merger, consolidation, purchase of all or substantially all of the assets of the Company or otherwise. 

  
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 Please sign, date and return the enclosed copy of this Agreement to me to acknowledge your agreement with the
above. 
 Thank you. 
  

	
	Very truly yours,
	
	  
 Carol Scherman

	EVP Global Human Resources

  

	
	ACKNOWLEDGED AND AGREED:
	
	  
 Alan Vickers

	
	  
 Dated

  
 -9-EX-4.3

 EXHIBIT 4.3 

FORM OF ESCROW AGREEMENT 

THIS ESCROW AGREEMENT dated as of [            ], 2015 (this
“Agreement”), is entered into among Resource Securities, Inc. (the “Dealer Manager”), Resource Real Estate Innovation Office REIT, Inc. (the “Company”) and UMB Bank, N.A., as escrow agent (the
“Escrow Agent”). 
 WHEREAS, the Company intends to raise funds from Investors (as defined below) pursuant to a
public offering (the “Offering”) of the sale of shares of common stock, par value $0.01 per share (the “Securities”) by offering and selling: (a) up to $1,000,000,000 in shares of the Securities at an initial
offering price of $10.00 per share; and (b) up to $100,000,000 in shares of the Securities pursuant to the Company’s distribution reinvestment plan (the “DRP Securities”), at an initial offering price of $9.50 per share,
pursuant to the registration statement on Form S-11 of the Company (File No. 333-            ) (as amended, the “Registration Statement”); 

WHEREAS, the Company has agreed that the subscription price paid by Investors (as defined below) for Securities promptly will be
refunded to such Investors if at least $2,000,000 of gross offering proceeds, including Securities sold to directors and officers of the Company, RRE Innovation Office Advisor, LLC and their respective affiliates (the “Minimum
Offering”), has not been raised from the sale of shares of the Company’s common stock within one year from the date that the U.S. Securities and Exchange Commission (the “SEC”) declares the Registration Statement
effective; 
 WHEREAS, the Company desires to establish an escrow account with the Escrow Agent for funds contributed by the
Investors with the Escrow Agent in accordance with the Registration Statement, to be held for the benefit of the Investors and the Company until such time as (i) in the case of subscriptions received from residents of Pennsylvania
(“Pennsylvania Investors”), the aggregate amount of subscriptions for Securities received from all Investors, excluding persons affiliated with the Company, equal, in the aggregate, $50,000,000 (the “Pennsylvania Minimum
Offering”), (ii) in the case of subscriptions received from residents of New York (“New York Investors”), the aggregate amount of subscriptions for Securities received from all Investors, excluding Pennsylvania
Investors and Washington Investors, equal, in the aggregate, $2,500,000 (the “New York Minimum Offering”), (iii) in the case of subscriptions received from residents of Washington (“Washington Investors”), the
aggregate amount of subscriptions for Securities received from all Investors, excluding Pennsylvania Investors, equal, in the aggregate, $10,000,000 (the “Washington Minimum Offering”) and (iv) in the case of subscriptions
received from all other Investors, aggregate subscriptions received from all other Investors equals the Minimum Offering, in each case in accordance with the terms and subject to the conditions of this Agreement; and 

WHEREAS, the Escrow Agent is willing to accept appointment as escrow agent only for the express duties set forth herein. 

 NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants and
agreements contained herein, the parties hereto, intending to be legally bound, hereby agree as follows: 
 1. Proceeds to be Escrowed. On or before
the date on which the Offering commences, the Company shall establish an escrow account with the Escrow Agent to be invested in accordance with Section 9 hereof (including such abbreviations as are required for the Escrow Agent’s systems)
(the “Escrow Account”). This Agreement shall be effective as of the date the Registration Statement is declared effective by the SEC. Except as otherwise set forth herein for Pennsylvania Investors, New York Investors and Washington
Investors, the escrow period shall commence upon the effectiveness of this Agreement and shall continue until the Termination Date (as defined in Section 7) (the “Escrow Period”). 

All checks, wire transfers and other funds received from persons submitting subscriptions for the purchase of Securities
(“Investors”, which term shall also include Pennsylvania Investors, New York Investors and Washington Investors, unless the context otherwise requires) in payment for the Securities (“Investor Funds”) will be
delivered to the Escrow Agent within one (1) business day following the day upon which such Investor Funds are received by the Company or its agents, and shall, upon receipt by the Escrow Agent, be retained in escrow by the Escrow Agent and
invested as stated herein. During the term of this Agreement, the Company or its agents shall cause all checks received by and made payable to it in payment for the Securities to be endorsed for favor of the Escrow Agent and delivered to the Escrow
Agent for deposit in the Escrow Account. 
 The Company shall, and shall cause its agents to, cooperate with the Escrow Agent in separately
accounting for Investor Funds from Pennsylvania Investors, New York Investors and Washington Investors in the Escrow Account, and the Escrow Agent shall be entitled to rely upon information provided by the Company or its agents in this regard. 

The Escrow Agent shall have no duty to make any disbursement, investment or other use of Investor Funds until and unless it has good and
collected funds. If any checks deposited in the Escrow Account are returned or prove uncollectible after the funds represented thereby have been released by the Escrow Agent, then the Company shall promptly reimburse the Escrow Agent for any and all
costs incurred for such, upon request, and the Escrow Agent shall deliver the returned checks to the Company. The Escrow Agent shall be under no duty or responsibility to enforce collection of any check delivered to it hereunder. The Escrow Agent
reserves the right to deny, suspend or terminate participation by an Investor to the extent the Escrow Agent deems it advisable or necessary to comply with applicable laws or to eliminate practices that are not consistent with the purposes of the
Offering. 
 2. Investors. During the Escrow Period, Investors will be instructed by the Dealer Manager or any soliciting dealers retained by the
Dealer Manager in connection with the Offering (the “Soliciting Dealers”) to remit the purchase price in the form of checks payable to the order of, or funds wired in favor of, “UMB Bank, N.A., as escrow agent for Resource Real
Estate Innovation Office REIT, Inc.” Notwithstanding the foregoing, however, Pennsylvania Investors, New York Investors and Washington Investors shall continue to make checks payable to the order of “UMB

  
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Bank, N.A., as escrow agent for Resource Real Estate Innovation Office REIT, Inc.” until, respectively, the Pennsylvania Minimum Offering, New York Minimum Offerig or Washington Minimum
Offering is raised. Any checks made payable to a party other than the Escrow Agent shall be returned to the Dealer Manager or Soliciting Dealer that submitted the check. By 12:00 p.m. (EST) of the next business day following the receipt of
instruments of payment from the Offering, the Company or the Dealer Manager, as applicable, shall furnish the Escrow Agent with a list of the Investors who have paid for the Securities showing the name, address, tax identification number, the amount
of Securities subscribed for purchase, the amount paid and whether such Investors are Pennsylvania Investors, New York Investors or Washington Investors. The information comprising the identity of Investors shall be provided to the Escrow Agent in
substantially the format set forth in the list of Investors attached hereto as Exhibit A (the “List of Investors”). The Escrow Agent shall be entitled to conclusively rely upon the List of Investors in determining whether
Investors are Pennsylvania Investors, New York Investors or Washington Investors and shall have no duty to independently determine or verify the same. 

When a Soliciting Dealer’s internal supervisory procedures are conducted at the site at which the subscription agreement and the check
for the purchase of Securities were initially received by Soliciting Dealer from the subscriber, such Soliciting Dealer shall transmit the subscription agreement and such check to the Escrow Agent by the end of the next business day following
receipt of the check for the purchase of Securities and subscription agreement. When, pursuant to such Soliciting Dealer’s internal supervisory procedures, such Soliciting Dealer’s final internal supervisory procedures are conducted at a
different location (the “Final Review Office”), such Soliciting Dealer shall transmit the check for the purchase of Securities and subscription agreement to the Final Review Office by noon of the next business day following
Soliciting Dealer’s receipt of the subscription agreement and the check for the purchase of Securities. The Final Review Office will, by the end of the next business day following its receipt of the subscription agreement and the check for the
purchase of Securities, forward both the subscription agreement and such check to the Escrow Agent. If any subscription agreement solicited by a Soliciting Dealer is rejected by the Dealer Manager or the Company, then the subscription agreement and
check for the purchase of Securities will be returned to the rejected subscriber within ten (10) business days from the date of rejection. 

All Investor Funds deposited in the Escrow Account shall not be subject to any liens or charges by the Company or the Escrow Agent, or
judgments or creditors’ claims against the Company, until and unless released to the Company as hereinafter provided. The Company understands and agrees that the Company shall not be entitled to any Investor Funds on deposit in the Escrow
Account and no such funds shall become the property of the Company, or any other entity except as released to the Company pursuant to Sections 3, 4, 5 or 6 hereto. The Escrow Agent will not use the information provided to it by the Company for any
purpose other than to fulfill its obligations as Escrow Agent hereunder. The Company and the Escrow Agent will treat all Investor information as confidential. The Escrow Agent shall not be required to accept any Investor Funds which are not
accompanied by the information on the List of Investors. 
 3. Disbursement of Funds. Once proceeds from the sale of Securities equal the Minimum
Offering (excluding proceeds received from Pennsylvania Investors, New York Investors and 

  
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Washington Investors), the Company shall notify the Escrow Agent of the same in writing. Further, if the Minimum Offering has not been sold on or prior to the Termination Date (as defined in
Section 7), the Company shall notify the Escrow Agent in writing of such. At the end of the third business day following the Termination Date, the Escrow Agent shall notify the Company of the amount of the Investor Funds received. If the
Minimum Offering has been obtained on or before the Termination Date, the Escrow Agent shall promptly notify the Company and, upon receiving acknowledgement of such notice and written instructions from the Company’s Chief Executive Officer,
President or Chief Financial Officer to disburse the Investor Funds, subject to Sections 4, 5 and 6, the Escrow Agent shall disburse to the Company, by check or wire transfer, the funds in the Escrow Account, except for amounts payable by the
Company to the Escrow Agent pursuant to Exhibit B to this Agreement that remain outstanding. The Escrow Agent agrees that funds in the Escrow Account shall not be released to the Company until and unless the Escrow Agent receives written
instructions to release the funds from the Company’s Chief Executive Officer, President or Chief Financial Officer. 
 If the Company
notifies the Escrow Agent in writing that the Minimum Offering has not been obtained prior to the Termination Date, the Escrow Agent shall promptly following the Termination Date, but in no event more than ten (10) business days after the
Termination Date, refund to each Investor by check, funds deposited in the Escrow Account, or shall return the instruments of payment delivered to Escrow Agent if such instruments have not been processed for collection prior to such time, directly
to each Investor at the address provided on the List of Investors. Included in the remittance shall be a proportionate share of the income earned in the account allocable to each Investor’s investment in accordance with the terms and conditions
specified herein, except that in the case of Investors who have not provided an executed Form W-9 or substitute Form W-9 (or the applicable substitute Form W-8 for foreign investors), the Escrow Agent shall withhold the applicable percentage of the
earnings attributable to those Investors in accordance with Internal Revenue Service (“IRS”) regulations. Notwithstanding the foregoing, the Escrow Agent shall not be required to remit any payments until funds represented by such
payments have been collected by the Escrow Agent. 
 If the Escrow Agent receives written notice from the Company that the Company intends
to reject an Investor’s subscription, the Escrow Agent shall pay to the applicable Investor(s), within a reasonable time not to exceed ten (10) business days after receiving notice of the rejection, by first class United States Mail at the
address provided on the List of Investors, or at such other address as shall be furnished to the Escrow Agent by the Investor in writing, all collected sums paid by the Investor for Securities and received by the Escrow Agent, together with the
interest earned on such Investor Funds (determined in accordance with the terms and conditions specified herein). 
 4. Disbursement of Proceeds for
Pennsylvania Investors. Proceeds received from Pennsylvania Investors will not be released from the Escrow Account until the Pennsylvania Minimum Offering is obtained. If the Pennsylvania Minimum Offering is obtained at any time prior to the
Termination Date, the Escrow Agent shall promptly notify the Company and, upon receiving acknowledgement of such notice and written instructions from the Company’s Chief Executive Officer, President or Chief Financial Officer, the Escrow Agent
shall disburse to the Company, by check or wire transfer, the funds in the Escrow Account representing proceeds 

  
 4 

 
from Pennsylvania Investors, except for amounts payable by the Company to the Escrow Agent pursuant to Exhibit B to this Agreement that remain outstanding. The Escrow Agent agrees that the
Pennsylvania Minimum Offering in the Escrow Account shall not be released to the Company until and unless the Escrow Agent receives written instructions to release the funds from the Company’s Chief Executive Officer, President or Chief
Financial Officer. 
 If the Pennsylvania Minimum Offering has not been obtained prior to the Termination Date, upon written instructions
from the Company’s Chief Executive Officer, President or Chief Financial Officer, the Escrow Agent shall, within ten (10) business days of receipt of such request, refund to each Pennsylvania Investor by check funds deposited in the Escrow
Account, or shall return the instruments of payment delivered to Escrow Agent if such instruments have not been processed for collection prior to such time, directly to each Pennsylvania Investor at the address provided on the List of Investors.
Included in the remittance shall be a proportionate share of the income earned in the account allocable to each Pennsylvania Investor’s investment in accordance with the terms and conditions specified herein, except that in the case of
Pennsylvania Investors who have not provided an executed Form W-9 or substitute Form W-9, the Escrow Agent shall withhold the applicable percentage of the earnings attributable to those Pennsylvania Investors in accordance with IRS regulations.
Notwithstanding the foregoing, the Escrow Agent shall not be required to remit any payments until funds represented by such payments have been collected by Escrow Agent. 

If the Escrow Agent is not in receipt of evidence of subscriptions accepted on or before the close of business on such date that is 120 days
after the date on which the Company accepts the first subscription from a Pennsylvania Investor (the “Initial Escrow Period”), and instruments of payment dated not later than that date, for the purchase of Securities providing for
total purchase proceeds from all nonaffiliated sources that equal or exceed the Pennsylvania Minimum Offering, the Escrow Agent shall promptly notify the Company. Thereafter, the Company or its agents shall send to each Pennsylvania Investor by
certified mail within ten (10) calendar days after the end of the Initial Escrow Period a notification substantially in the form of Exhibit C. If, pursuant to such notification, a Pennsylvania Investor requests the return of his or her
Investor Funds within ten (10) calendar days after receipt of the notification (the “Request Period”), the Escrow Agent shall promptly refund directly to each Pennsylvania Investor the collected funds deposited in the Escrow
Account on behalf of such Pennsylvania Investor or shall return the instruments of payment delivered, but not yet processed for collection prior to such time, to the address provided on the List of Investors, upon which the Escrow Agent shall be
entitled to rely, together with interest income earned as determined in accordance with the terms and conditions specified herein. Notwithstanding the above, if the Escrow Agent has not received an executed Form W-9 or substitute Form W-9 for such
Pennsylvania Investor, the Escrow Agent shall thereupon remit an amount to such Pennsylvania Investor in accordance with the provisions hereof, withholding the applicable percentage for backup withholding in accordance with IRS regulations, as then
in effect, from any interest income earned on Investor Funds (determined in accordance with the terms and conditions specified herein) attributable to such Pennsylvania Investor. However, the Escrow Agent shall not be required to remit such payments
until the Escrow Agent has collected funds represented by such payments. 

  
 5 

 The Investor Funds of Pennsylvania Investors who do not request the return of their Investor
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 above with respect to the Initial Escrow Period for each Successive Escrow Period until the occurrence of the earliest of (i) the Termination Date,
(ii) the receipt and acceptance by the Company of subscriptions for the purchase of Securities with total purchase proceeds that equal or exceed the Pennsylvania Minimum Offering and the disbursement of the Escrow Account on the terms specified
herein, and (iii) all funds held in the Escrow Account having been returned to the Pennsylvania Investors in accordance with the provisions hereof. 

5. Disbursement of Proceeds for New York Investors. Proceeds received from New York Investors will not be released from the Escrow Account until the
New York Minimum Offering is obtained. If the New York Minimum Offering is obtained at any time prior to the Termination Date, the Escrow Agent shall promptly notify the Company and, upon receiving acknowledgement of such notice and written
instructions from the Company’s Chief Executive Officer, President or Chief Financial Officer, the Escrow Agent shall disburse to the Company, by check or wire transfer, the funds in the Escrow Account representing proceeds from New York
Investors, except for amounts payable by the Company to the Escrow Agent pursuant to Exhibit B to this Agreement that remain outstanding. The Escrow Agent agrees that the New York Minimum Offering in the Escrow Account shall not be released
to the Company until and unless the Escrow Agent receives written instructions to release the funds from the Company’s Chief Executive Officer, President or Chief Financial Officer. 

If the New York Minimum Offering has not been obtained prior to the Termination Date, upon written instructions from the Company’s Chief
Executive Officer, President or Chief Financial Officer, the Escrow Agent shall within ten (10) business days refund to each New York Investor by check funds deposited in the Escrow Account, or shall return the instruments of payment delivered
to Escrow Agent if such instruments have not been processed for collection prior to such time, directly to each New York Investor at the address provided on the List of Investors. Included in the remittance shall be a proportionate share of the
income earned in the account allocable to each New York Investor’s investment in accordance with the terms and conditions specified herein, except that in the case of New York Investors who have not provided an executed Form W-9 or substitute
Form W-9, the Escrow Agent shall withhold the applicable percentage of the earnings attributable to those New York Investors in accordance with IRS regulations. Notwithstanding the foregoing, the Escrow Agent shall not be required to remit any
payments until funds represented by such payments have been collected by Escrow Agent. 
 6. Disbursement of Proceeds for Washington Investors.
Notwithstanding the foregoing, proceeds from Washington Investors will not count towards meeting the Minimum Offering for purposes of Section 3. Proceeds received from Washington Investors will not be released from the Escrow Account until the
Washington Minimum Offering is obtained. If the Washington Minimum Offering is obtained at any time prior to the Termination Date, the Escrow Agent shall promptly notify the Company and, upon receiving acknowledgement of such notice and written
instructions from the Company’s Chief Executive Officer, President or Chief Financial Officer, 

  
 6 

 
the Escrow Agent shall disburse to the Company, by check or wire transfer, the funds in the Escrow Account representing proceeds from Washington Investors, except for amounts payable by the
Company to the Escrow Agent pursuant to Exhibit B to this Agreement that remain outstanding. The Escrow Agent agrees that the Washington Minimum Offering in the Escrow Account shall not be released to the Company until and unless the Escrow
Agent receives written instructions to release the funds from the Company’s Chief Executive Officer, President or Chief Financial Officer. 

If the Washington Minimum Offering has not been obtained prior to the Termination Date, upon written instructions from the Company’s
Chief Executive Officer, President or Chief Financial Officer, the Escrow Agent shall within ten (10) business days refund to each Washington Investor by check funds deposited in the Escrow Account, or shall return the instruments of payment
delivered to Escrow Agent if such instruments have not been processed for collection prior to such time, directly to each Washington Investor at the address provided on the List of Investors. Included in the remittance shall be a proportionate share
of the income earned in the account allocable to each Washington Investor’s investment in accordance with the terms and conditions specified herein, except that in the case of Washington Investors who have not provided an executed Form W-9 or
substitute Form W-9, the Escrow Agent shall withhold the applicable percentage of the earnings attributable to those Washington Investors in accordance with IRS regulations. Notwithstanding the foregoing, the Escrow Agent shall not be required to
remit any payments until funds represented by such payments have been collected by Escrow Agent. 
 7. Term of Escrow. The “Termination
Date,” shall be the earliest of: (i) the close of business on             , 2016, the one-year anniversary of the date the Registration Statement was initially declared
effective by the SEC, if the Minimum Offering has not been obtained prior to such date; (ii) the date on which all funds held in the Escrow Account are distributed to the Company or to Investors pursuant to Section 3, or to Pennsylvania
Investors, New York Investors and Washington Investors pursuant to Sections 4, 5 and 6, respectively, and the Company has informed the Escrow Agent in writing to close the Escrow Account; (iii) the date the Escrow Agent receives written notice
from the Company that it is abandoning the sale of the Securities or that the Offering is terminating; and (iv) the date the Escrow Agent receives notice from the SEC or any other federal regulatory authority that a stop or similar order has
been issued with respect to the Registration Statement and has remained in effect for at least twenty (20) days. 
 8. Duty and Liability 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 sole duty of the
Escrow Agent shall be to receive Investor Funds and hold them subject to release, in accordance herewith, and the Escrow Agent shall be under no duty to determine whether the Company or the Dealer Manager is complying with requirements of this
Agreement, the Offering or applicable securities or other laws in tendering the Investor Funds to the Escrow Agent. 
 No other agreement
entered into between the parties, or any of them, shall be considered as adopted or binding, in whole or in part, upon the Escrow Agent notwithstanding that any such other agreement may be referred to herein or deposited with the Escrow Agent or the
Escrow 

  
 7 

 
Agent may have knowledge thereof, including specifically but without limitation, the Registration Statement or any other document relating to the Offering (including the subscription agreement
and exhibits thereto), and the Escrow Agent’s rights and responsibilities shall be governed solely by this Agreement. 
 The Escrow
Agent shall not be responsible for or be required to enforce any of the terms or conditions of the Registration Statement or any other document relating to the Offering (including the subscription agreement and exhibits thereto) or other agreement
between the Company and any other party. The Escrow Agent may conclusively rely upon and shall be protected in acting upon any statement, certificate, notice, request, consent, order or other document believed by it to be genuine and to have been
signed or presented by the proper party or parties. The Escrow Agent shall have no duty or liability to verify any such statement, certificate, notice, request, consent, order or other document, and its sole responsibility shall be to act only as
expressly set forth in this Agreement. The Escrow Agent shall be under no obligation to institute or defend any action, suit or proceeding in connection with this Agreement unless first indemnified to its satisfaction. The Escrow Agent may consult
counsel of its own choice with respect to any question arising under this Agreement and the Escrow Agent shall not be liable for any action taken or omitted in good faith upon advice of such counsel. 

The Escrow Agent shall not be liable for any action taken or omitted by it in good faith except to the extent that a court of competent
jurisdiction determines that the Escrow Agent’s gross negligence or willful misconduct was the primary cause of loss. The Escrow Agent is acting solely as escrow agent hereunder and owes no duties, covenants or obligations, fiduciary or
otherwise, to any other person by reason of this Agreement, except as otherwise stated herein, and no implied duties, covenants or obligations, fiduciary or otherwise, shall be read into this Agreement against the Escrow Agent. 

If any disagreement between any of the parties to this Agreement, or between any of them and any other person, including any Investor,
resulting in adverse claims or demands being made in connection with the matters covered by this Agreement, or if the Escrow Agent is in doubt as to what action it should take hereunder, the Escrow Agent may, at its option, refuse to comply with any
claims or demands on it, or refuse to take any other action hereunder, so long as such disagreement continues or such doubt exists, and in any such event, the Escrow Agent shall not be or become liable in any way or to any person for its failure or
refusal to act, and the Escrow Agent shall be entitled to continue so to refrain from acting until (i) the rights of all interested parties shall have been fully and finally adjudicated by a court of competent jurisdiction, or (ii) all
differences shall have been adjudged and all doubt resolved by agreement among all of the interested persons, and the Escrow Agent shall have been notified thereof in writing signed by all such persons. Notwithstanding the foregoing, the Escrow
Agent may in its discretion obey the order, judgment, decree or levy of any court, whether with or without jurisdiction and the Escrow Agent is hereby authorized in its sole discretion to comply with and obey any such orders, judgments, decrees or
levies. If any controversy should arise with respect to this Agreement, the Escrow Agent shall have the right, at its option, to institute an interpleader action in any court of competent jurisdiction to determine the rights of the parties. IN NO
EVENT SHALL THE ESCROW AGENT BE LIABLE, DIRECTLY OR INDIRECTLY, FOR ANY SPECIAL, INDIRECT OR CONSEQUENTIAL LOSSES OR DAMAGES OF ANY 

  
 8 

 
KIND WHATSOEVER (INCLUDING WITHOUT LIMITATION LOST PROFITS), EVEN IF THE ESCROW AGENT HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH LOSSES OR DAMAGES AND REGARDLESS OF THE FORM OF ACTION. 

The parties hereto agree that the Escrow Agent has no role in the preparation of the Registration Statement or any other document related to
the Offering (including the subscription agreement and exhibits thereto) and makes no representations or warranties with respect to the information contained therein or omitted therefrom. The Escrow Agent shall have no obligation, duty or liability
with respect to compliance with any federal or state securities, disclosure or tax laws concerning the Registration Statement or any other document related to the Offering (including the subscription agreement and exhibits thereto) or the issuance,
offering or sale of the Securities. The Escrow Agent shall have no duty or obligation to monitor the application and use of the Investor Funds once transferred to the Company, that being the sole obligation and responsibility of the Company. 

9. Escrow Agent’s Fee. The Escrow Agent shall be entitled to compensation for its services as stated in the fee schedule attached hereto as
Exhibit B, which compensation shall be paid by the Company. The fee agreed upon for the services rendered hereunder is intended as full compensation for the Escrow Agent’s services as contemplated by this Agreement; provided, however,
that if (i) the conditions for the disbursement of funds under this Agreement are not fulfilled, (ii) the Escrow Agent renders any material service not contemplated in this Agreement, (iii) there is any assignment of interest in the
subject matter of this Agreement, (iv) there is any material modification hereof, (v) if any material controversy arises hereunder, or (vi) the Escrow Agent is made a party to any litigation pertaining to this Agreement, or the
subject matter hereof, then the Escrow Agent shall be reasonably compensated for such extraordinary services and reimbursed for all costs and expenses, including reasonable attorney’s fees, occasioned by any delay, controversy, litigation or
event, and the same shall be recoverable from the Company. The Company’s obligations under this Section 9 shall survive the resignation or removal of the Escrow Agent and the assignment or termination of this Agreement. 

10. Investment of Investor Funds. The Investor Funds shall be deposited in the Escrow Account in accordance with Section 1. The Escrow Agent is
hereby directed to invest all funds received under this Agreement, including principal and interest in UMB Money Market Special, a bank money market deposit account. Notwithstanding the foregoing, Investor 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. The following are not permissible investments: (a) money market mutual funds; (b) corporate debt or equity
securities; (c) repurchase agreements; (d) banker’s acceptance; (e) commercial paper; and (f) municipal securities. Any interest received by the Escrow Agent with respect to the Investor Funds, including reinvested interest
shall become part of the Investor Funds, and shall be disbursed pursuant to Section 3, or for Pennsylvania Investors, New York Investors and Washington Investors, pursuant to Sections 4, 5 and 6, respectively. 

The Escrow Agent shall be entitled to sell or redeem any such investments as necessary to make any payments or distributions required under
this Agreement. The Escrow Agent shall have no responsibility or liability for any loss which may result from any investment made 

  
 9 

 
pursuant to this Agreement, or for any loss resulting from the sale of such investment. The parties acknowledge that the Escrow Agent is not providing investment supervision, recommendations, or
advice. 
 On or prior to the date of this Agreement, the Company shall provide the Escrow Agent with a certified tax identification number
by furnishing an appropriate IRS form W-9 or W-8 (or substitute Form W-9 or W-8) and other forms and documents that the Escrow Agent may reasonably request, including without limitation a tax form for each Investor. The Company understands that if
such tax reporting documentation is not so certified to the Escrow Agent, the Escrow Agent may be required by the Internal Revenue Code of 1986, as amended, to withhold a portion of any interest or other income earned on the Investor Funds pursuant
to this Agreement. For tax reporting purposes, all interest and other income from investment of the Investor Funds shall, as of the end of each calendar year and to the extent required by the IRS, be reported as having been earned by the party to
whom such interest or other income is distributed, in the year in which it is distributed. 
 The Company agrees to indemnify and hold the
Escrow Agent harmless from and against any taxes, additions for late payment, interest, penalties and other expenses that may be assessed against the Escrow Agent on or with respect to any payment or other activities under this Agreement unless any
such tax, addition for late payment, interest, penalties and other expenses shall be determined by a court of competent jurisdiction to have been caused by the Escrow Agent’s gross negligence or willful misconduct. The terms of this Section
shall survive the termination of this Agreement and the resignation or removal of the Escrow Agent. 
 11. Notices. All notices, requests, demands,
and other communications under this Agreement shall be in writing and shall be deemed to have been duly given (a) on the date of service if served personally on the party to whom notice is to be given, (b) on the day of transmission if
sent by facsimile/email transmission bearing an authorized signature to the facsimile number/email address given below, and written confirmation of receipt is obtained promptly after completion of transmission, (c) on the day after delivery to
Federal Express or similar overnight courier or the Express Mail service maintained by the United States Postal Service, or (d) on the fifth day after mailing, if mailed to the party to whom notice is to be given, by first class mail,
registered or certified, postage prepaid, and properly addressed, return receipt requested, to the party as follows: 
 If to the Company: 

Resource Real Estate Innovation Office REIT, Inc. 
 1845 Walnut
Street, 18th Floor 
 Philadelphia, Pennsylvania 19103 

Attention: Steven Saltzman 
 Phone: (215) 231-7050 

Facsimile: (215) 640-6320 

  
 10 

 If to the Dealer Manager: 

Resource Securities, Inc. 
 1845 Walnut Street, 18th Floor 

Philadelphia, Pennsylvania 19103 
 Attention: Darshan V. Patel

 Phone: (866) 469-0129 
 Facsimile: (866) 545-7693

 If to Escrow Agent: 
 UMB Bank, N.A. 

1010 Grand Blvd., 4th Floor 
 Mail Stop: 1020409 

Kansas City, Missouri 64106 
 Attention: Lara Stevens, Corporate
Trust 
 Telephone: (816) 860-3017 
 Facsimile:
(816) 860-3029 
 Email: lara.stevens@umb.com 
 Any party
may change its address for purposes of this Section by giving the other party written notice of the new address in the manner set forth above. 
 12.
Indemnification of Escrow Agent. The Company and the Dealer Manager hereby agree to jointly and severally indemnify, defend and hold harmless the Escrow Agent from and against, any and all loss, liability, cost, damage and expense, including,
without limitation, reasonable counsel fees and expenses, which the Escrow Agent may suffer or incur by reason of any action, claim or proceeding brought against the Escrow Agent arising out of or relating in any way to this Agreement or any
transaction to which this Agreement relates unless such loss, liability, cost, damage or expense is finally determined by a court of competent jurisdiction to have been primarily caused by the gross negligence or willful misconduct of the Escrow
Agent. The terms of this Section shall survive the termination of this Agreement and the resignation or removal of the Escrow Agent. 
 13. Security
Interests. No party to this Escrow Agreement shall grant a security interest in any monies or other property deposited with the Escrow Agent under this Escrow Agreement, or otherwise create a lien, encumbrance or other claim against such monies
or borrow against the same. 
 14. Successors and Assigns. Except as otherwise provided in this Agreement, no party hereto shall assign this
Agreement or any rights or obligations hereunder without the prior written consent of the other parties hereto and any such attempted assignment without such prior written consent shall be void and of no force and effect. This Agreement shall inure
to the benefit of and shall be binding upon the successors and permitted assigns of the parties hereto. Any corporation or association into which the Escrow Agent may be converted or merged, or with which it may be consolidated, or to which it may
sell or transfer all or substantially all of its corporate trust 

  
 11 

 
business and assets as a whole or substantially as a whole, or any corporation or association resulting from any such conversion, sale, merger, consolidation or transfer to which the Escrow Agent
is a party, shall be and become the successor Escrow Agent under this Agreement and shall have and succeed to the rights, powers, duties, immunities and privileges as its predecessor, without the execution or filing of any instrument or paper or the
performance of any further act. 
 15. Governing Law; Jurisdiction. This Agreement shall be construed, performed, and enforced in accordance with,
and governed by, the internal laws of the State of Missouri, without giving effect to the principles of conflicts of laws thereof. 
 16.
Severability. If any provision of this Agreement is declared by any court or other judicial or administrative body to be null, void, or unenforceable, said provision shall survive to the extent it is not so declared, and all of the other
provisions of this Agreement shall remain in full force and effect. 
 17. Amendments; Waivers. This Agreement may be amended or modified, and any of
the terms, covenants, representations, warranties, or conditions hereof may be waived, only by a written instrument executed by the parties hereto, or in the case of a waiver, by the party waiving compliance. Any waiver by any party of any
condition, or of the breach of any provision, term, covenant, representation, or warranty contained in this Agreement, in any one or more instances, shall not be deemed to be nor construed as further or continuing waiver of any such condition, or of
the breach of any other provision, term, covenant, representation, or warranty of this Agreement. The Company and the Dealer Manager agree that any requested waiver, modification or amendment of this Agreement shall be consistent with the terms of
the Offering. 
 18. Entire Agreement. This Agreement contains the entire agreement and understanding among the parties hereto with respect to the
escrow contemplated hereby and supersedes and replaces all prior and contemporaneous agreements and understandings, oral or written, with regard to such escrow. 

19. Section Headings. The section headings in this Agreement are for reference purposes only and shall not affect the meaning or interpretation of this
Agreement. 
 20. Counterparts. This Agreement may be executed (including by facsimile transmission) with counterpart signature pages or in
counterparts, each of which shall be deemed an original, but all of which shall constitute the same instrument. The parties hereto agree that the transactions described herein may be conducted and related documents may be stored by electronic means.
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. 

  
 12 

 21. Resignation. The 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 30 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 or may pay into court all monies
and property deposited with the Escrow Agent under this Agreement. 

 The terms of this Section shall survive the termination
of the Escrow Agreement and the resignation or removal of the Escrow Agreement. 
 22. References to Escrow Agent. Other than the Registration
Statement, any of the other documents related to the Offering (including the subscription agreement and exhibits thereto) and any amendments thereof or supplements thereto, no printed or other matter in any language (including, without limitation,
notices, reports and promotional material) which mentions the Escrow Agent’s name or the rights, powers, or duties of the Escrow Agent shall be issued by the Company or the Dealer Manager, or on the Company’s or the Dealer Manager’s
behalf, unless the Escrow Agent shall first have given its specific written consent thereto. Notwithstanding the foregoing, any amendment or supplement to the Registration Statement or any other document related to the Offering (including the
subscription agreement and exhibits thereto) that revises, alters, modifies, changes or adds to the description of the Escrow Agent or its rights, powers or duties hereunder shall not be issued by the Company or the Dealer Manager, or on the
Company’s or Dealer Manager’s behalf, unless the Escrow Agent has first given specific written consent thereto. 
 23. Patriot Act Compliance;
OFAC Search Duties. The Company shall provide to the Escrow Agent upon the execution of this Agreement any documentation requested and any information reasonably requested by the Escrow Agent to comply with the Uniting and Strengthening America
by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, as amended from time to time. The Escrow Agent, or its agent, shall complete a search with the Office of Foreign Assets Control (“OFAC
Search”), in compliance with its policy and procedures, of each subscription check for the purchase of Securities and shall inform the Company if a subscription check for the purchase of Securities 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. 
 [Signature
page follows] 

  
 13 

 IN WITNESS WHEREOF, the parties hereto have caused this Subscription Escrow Agreement to be executed the
date and year first set forth above. 
  

			
	RESOURCE REAL ESTATE INNOVATION OFFICE REIT, INC.
		
	By:		  

	Name:		Alan Feldman
	Title:		Chief Executive Officer
	
	RESOURCE SECURITIES, INC.
		
	By:		  

	Name:		Darshan V. Patel
	Title:		President
	
	UMB BANK, N.A., as Escrow Agent
		
	By:		  

	Name:		Lara L. Stevens
	Title:		Vice President

  
 14 

 Exhibit A 

List of Investors 
 Pursuant to the Escrow
Agreement dated as of             , 2015, among Resource Real Estate Innovation Office REIT, Inc. (the “Company”), Resource Securities, Inc. (the “Dealer
Manager”) and UMB Bank, N.A. (the “Escrow Agent”), the Company or its agents hereby certifies that the following Investors have paid money for the purchase of shares of the Company’s common stock, par value $0.01
(“Securities”), and the money has been deposited with the Escrow Agent: 
  

	1.	Name of Investor 

 Address 

Tax Identification Number 
 Amount
of Securities subscribed for 
 Amount of money paid and deposited with Escrow Agent 

Is Investor a resident of Pennsylvania (Yes or No)? 

Is Investor a resident of New York (Yes or No)? 

Is Investor a resident of Washington (Yes or No)? 

Is Investor (i) an officer or director of the Company; (ii) an officer or director of RRE Innovation Office Advisor, LLC; or
(iii) an affiliate of either (i) or (ii)? (Yes or No)? 
  

	2.	Name of Investor 

 Address 

Tax Identification Number 
 Amount
of Securities subscribed for 
 Amount of money paid and deposited with Escrow Agent 

Is Investor a resident of Pennsylvania (Yes or No)? 

Is Investor a resident of New York (Yes or No)? 

Is Investor a resident of Washington (Yes or No)? 

Is Investor (i) an officer or director of the Company; (ii) an officer or director of RRE Innovation Office Advisor, LLC; or
(iii) an affiliate of either (i) or (ii)? (Yes or No)? 
  

			
	Dated:		  

	
	RESOURCE SECURITIES, INC.
		
	By:		  

			Name:
			Title:

  
 15 

 Exhibit B 

ESCROW FEES AND EXPENSES 
 Acceptance Fee

 Review Escrow Agreement, establish account with DST $[            ] 

Annual Fees 
 Annual Escrow Agent
$[        ] 
 BAI File to DST $[        ] per Business Day

 Outgoing Wire Transfer $[        ] each 

Wire Ripping to DST $[        ] per Business Day 

Miscellaneous Expenses [    ]% of Annual Fee 

Web Exchange Access (if applicable) $[        ] per month 

Overnight Delivery/Mailings (if applicable) $[        ] each 

IRS Tax Reporting (if applicable) $[        ] per 1099 

Acceptance fee and first year Annual Escrow Agent fee will be payable at the initiation of the escrow. Thereafter, the Annual Escrow Agent fees will be billed
in advance and transactional fees will be billed 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. 

  
 16 

 Exhibit C 

Form of Notice to Pennsylvania Investors 

You have tendered a subscription to purchase shares of common stock of Resource Real Estate Innovation Office REIT, Inc. (the “Company”). Your
subscription is currently being held in escrow. The guidelines of the Pennsylvania Securities Commission do not permit the Company to accept subscriptions from Pennsylvania residents until an aggregate of $50,000,000 of gross offering proceeds have
been received by the Company. The Pennsylvania guidelines provide that until this minimum amount of offering proceeds is received by the Company, every 120 days during the offering period Pennsylvania Investors may request that their subscription be
returned. If you wish to continue your subscription in escrow until the Pennsylvania minimum subscription amount is received, nothing further is required. 

If you wish to terminate your subscription for the Company’s common stock and have your subscription returned please so indicate below, sign, date, and
return to the Escrow Agent, UMB Bank, N.A. at 1010 Grand Blvd., 4th Floor, Mail Stop: 1020409, Kansas City, Missouri 64106, Attn: Lara Stevens, Corporate Trust. 

I hereby terminate my prior subscription to purchase shares of common stock of the Company and request the return of my subscription funds. I certify to the
Company that I am a resident of Pennsylvania. 
  

			
	Signature:		  

		
	Name:		  

			(please print)
		
	Date:		  

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