SEC Contract Filing

Filing Date: 2015-07-27

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>exhibit1.htm
<DESCRIPTION>EX-10.1
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<TITLE> EX-10.1 </TITLE>
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<P align="right" style="font-size: 10pt"><FONT style="font-size: 12pt"><B>Exhibit&nbsp;10.1</B></FONT>

<P align="center" style="font-size: 12pt"><B>SECOND AMENDED AND RESTATED INVESTMENT ADVISORY AGREEMENT<BR>
BETWEEN<BR>
GLADSTONE COMMERCIAL CORPORATION<BR>
AND<BR>
GLADSTONE MANAGEMENT CORPORATION<BR>
_______________________</B>

<P align="left" style="font-size: 12pt; text-indent: 4%">This Second Amended and Restated Investment Advisory Agreement Between Gladstone Commercial
Corporation and Gladstone Management Corporation (this &#147;<B><I>Agreement</I></B>&#148;) is made this 24th day of July
2015, by and between Gladstone Commercial Corporation, a Maryland corporation (the &#147;<B><I>Company</I></B>&#148;), and
Gladstone Management Corporation, a Delaware corporation (the &#147;<B><I>Adviser</I></B>&#148;).

<P align="left" style="font-size: 12pt; text-indent: 4%">Whereas, this Agreement shall amend and restate that certain Amended and Restated Investment
Advisory Agreement Between the Company and the Adviser, dated January&nbsp;1, 2007.

<P align="left" style="font-size: 12pt; text-indent: 4%">Whereas, the Company is a real estate investment trust organized primarily for the purpose of
investing in and owning net leased industrial and commercial rental property and selectively making
long-term mortgage loans collateralized by industrial and commercial property;

<P align="left" style="font-size: 12pt; text-indent: 4%">Whereas, the Adviser is an investment adviser that has registered under the Investment
Advisers Act of 1940; and

<P align="left" style="font-size: 12pt; text-indent: 4%">Whereas, the Company desires to retain the Adviser to furnish investment advisory services to
the Company on the terms and conditions hereinafter set forth, and the Adviser wishes to be
retained to provide such services.

<P align="left" style="font-size: 12pt; text-indent: 4%">Now, therefore, in consideration of the premises and for other good and valuable
consideration, the parties hereby agree as follows:

<P align="left" style="font-size: 12pt"><B>1.&nbsp;Duties of the Adviser.</B>

<P align="left" style="font-size: 12pt; text-indent: 4%">(a)&nbsp;The Company hereby employs the Adviser to act as the investment adviser to the Company and
to manage the investment and reinvestment of the assets of the Company, subject to the supervision
of the Board of Directors of the Company, for the period and upon the terms herein set forth, (i)
in accordance with the investment objective, policies and restrictions that are set forth in the
Company&#146;s Annual Reports on Form 10-K, filed with the Securities and Exchange Commission from year
to year, pursuant to Section&nbsp;13 of the Securities and Exchange Act of 1934 and (ii)&nbsp;during the term
of this Agreement in accordance with all applicable federal and state laws, rules and regulations,
and the Company&#146;s charter and by-laws. Without limiting the generality of the foregoing, the
Adviser shall, during the term and subject to the provisions of this Agreement, (i)&nbsp;determine the
composition of the portfolio of the Company, the nature and timing of the changes therein and the
manner of implementing such changes; (ii)&nbsp;identify, evaluate and negotiate the structure of the
investments made by the Company; (iii)&nbsp;close and monitor the Company&#146;s investments; (iv)&nbsp;determine
the real property, securities and other assets that the Company will purchase, retain, or sell;
(v)&nbsp;perform due diligence on prospective portfolio companies; and (vi)&nbsp;provide the Company with
such other investment advisory, research and related services as the Company may, from time to
time, reasonably require for the investment of its funds. The Adviser shall have the discretion,
power and authority on behalf of the Company to effectuate its investment decisions for the
Company, including the execution and delivery of all documents relating to the Company&#146;s
investments and the placing of orders for other purchase or sale transactions on behalf of the
Company. In the event that the Company determines to acquire debt financing, the Adviser will
arrange for such financing on the Company&#146;s behalf, subject to the oversight and approval of the
Company&#146;s Board of Directors. If it is necessary for the Adviser to make investments on behalf of
the Company through a special purpose vehicle, the Adviser shall have authority to create or
arrange for the creation of such special purpose vehicle and to make such investments through such
special purpose vehicle.

<P align="left" style="font-size: 12pt; text-indent: 4%">(b)&nbsp;The Adviser hereby accepts such employment and agrees during the term hereof to render the
services described herein for the compensation provided herein.

<P align="left" style="font-size: 12pt; text-indent: 4%">(c)&nbsp;The Adviser is hereby authorized to enter into one or more sub-advisory agreements with
other advisers (each, a &#147;<B><I>Sub-Adviser</I></B>&#148;) pursuant to which the Adviser may obtain the services of the
Sub-Adviser(s) to assist the Adviser in fulfilling its responsibilities hereunder. Specifically,
the Adviser may retain a Sub-Adviser to recommend specific investments based upon the Company&#146;s
investment objective and policies, and work, along with the Adviser, in structuring, negotiating,
arranging or effecting the acquisition or disposition of such investments and monitoring
investments on behalf of the Company, subject to the oversight of the Adviser and the Company. The
Adviser, and not the Company, shall be responsible for any compensation payable to any Sub-Adviser.