SEC Contract Filing

Filing Date: 2023-06-05

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>tm2317754d1_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>EXECUTION VERSION</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">COOPERATION AGREEMENT AND RELEASE</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This COOPERATION AGREEMENT
(this &ldquo;<U>Agreement</U>&rdquo;) is made and entered into as of June 4, 2023 by and among Global Net Lease, Inc., a Maryland corporation
(&ldquo;<U>GNL</U>&rdquo;), The Necessity Retail REIT, Inc., a Maryland corporation (&ldquo;<U>RTL</U>&rdquo;, and together with GNL,
the &ldquo;<U>Companies</U>&rdquo;), Global Net Lease Advisors, LLC (&ldquo;<U>GNL Advisor</U>&rdquo;), Global Net Lease Properties, LLC
(&ldquo;<U>GNL Property Manager</U>&rdquo;), Necessity Retail Advisors, LLC (&ldquo;<U>RTL Advisor</U>&rdquo;), Necessity Retail Properties,
LLC (&ldquo;<U>RTL Property Manager</U>&rdquo;), AR Global Investments, LLC (&ldquo;<U>Advisor Parent</U>&rdquo; and together with RTL
Advisor, GNL Advisor, GNL Property Manager and RTL Property Manager, the &ldquo;<U>Advisors</U>&rdquo; and, collectively with the Companies
and any other entities managed or advised by the Advisor Parent or its Affiliates (whether as of the date hereof or hereafter), the &ldquo;<U>Group
Companies</U>&rdquo;), Blackwells Capital LLC (&ldquo;<U>Blackwells Capital</U>&rdquo;), Blackwells Onshore I LLC (&ldquo;<U>Blackwells
Onshore</U>&rdquo;), Jason Aintabi (collectively, with Blackwells Capital and Blackwells Onshore, the &ldquo;<U>Blackwells Parties</U>&rdquo;),
Related Fund Management, LLC (&ldquo;<U>Related</U>&rdquo;), Jim Lozier and Richard O&rsquo;Toole (collectively with Related and Mr. Lozier,
the &ldquo;<U>Related Parties</U>&rdquo; and, collectively with the Blackwells Parties, the &ldquo;<U>Investor Parties</U>&rdquo; and,
each of the Companies, the Advisors and the Investor Parties, a &ldquo;<U>Party</U>&rdquo; to this Agreement, and collectively, the &ldquo;<U>Parties</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">RECITALS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, as of the date hereof,
the Investor Parties have a beneficial ownership (as determined under Rule 13d-3 promulgated under the Securities Exchange Act of 1934,
as amended, or the rules or regulations promulgated thereunder (the &ldquo;<U>Exchange Act</U>&rdquo;)) interest in the Common Stock,
$0.01 par value per share, of GNL (the &ldquo;<U>GNL Common Stock</U>&rdquo;) totaling, in the aggregate, 2,099,332 shares of GNL Common
Stock;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, as of the date hereof,
the Investor Parties have a beneficial ownership (as determined under Rule 13d-3 promulgated under the Exchange Act) interest in the Class
A Common Stock, $0.01 par value per share, of RTL (the &ldquo;<U>RTL Common Stock</U>&rdquo;, and together with the GNL Common Stock,
the &ldquo;<U>Common Stock</U>&rdquo;) totaling, in the aggregate, 100 shares of RTL Common Stock;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Investor Parties
submitted a letter to GNL on October 24, 2022 (the &ldquo;<U>GNL Nomination Notice</U>&rdquo;) purporting to nominate a slate of director
candidates to be elected to the Board of Directors of GNL (the &ldquo;<U>GNL Board</U>&rdquo;) at GNL&rsquo;s 2023 Annual Meeting of Stockholders
(including any other meeting of stockholders held in lieu thereof, and adjournments, postponements, reschedulings or continuations thereof,
the &ldquo;<U>2023 GNL Annual Meeting</U>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Investor Parties
submitted a letter to RTL on October 24, 2022 (the &ldquo;<U>RTL Nomination Notice</U>&rdquo;) purporting to nominate a slate of director
candidates to be elected to the Board of Directors of RTL (the &ldquo;<U>RTL Board</U>&rdquo;) at RTL&rsquo;s 2023 Annual Meeting of Stockholders
(including any other meeting of stockholders held in lieu thereof, and adjournments, postponements, reschedulings or continuations thereof,
the &ldquo;<U>2023 RTL Annual Meeting</U>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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