SEC Contract Filing

Filing Date: 2017-06-23

Document Content:
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<TYPE>EX-10.5
<SEQUENCE>6
<FILENAME>ex10-5.htm
<DESCRIPTION>WARRANT AGREEMENT
<TEXT>
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<P STYLE="font: 11pt Times New Roman,serif; margin: 0; text-align: right">EXHIBIT 10.5</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 12pt 0; text-align: center">WARRANT AGREEMENT</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 12pt 0; text-align: center">PLYMOUTH INDUSTRIAL REIT, INC.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 12pt 0; text-align: center">and</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 12pt 0; text-align: center">DOF IV REIT HOLDINGS, LLC</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 12pt 0; text-align: center">WARRANT AGREEMENT</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 12pt 0; text-align: center">Dated as of June 8, 2017</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in">THIS WARRANT AGREEMENT (this
&ldquo;<B><I>Agreement</I></B>&rdquo;), dated as of June 8, 2017, is by and between Plymouth Industrial REIT, Inc., a Maryland
corporation (the &ldquo;<B><I>Company</I></B>&rdquo;), and DOF IV REIT Holdings, LLC, a Delaware limited liability company (&ldquo;<B><I>DOF
Holdings</I></B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, concurrently with
the execution of this Agreement, the Company and DOF Holdings are entering into and closing the transactions contemplated under
that certain Exchange Agreement, providing for, among other things, the issuance by the Company to DOF Holdings of 250,000 warrants
(the &ldquo;<B><I>Warrants</I></B>&rdquo;). Each Warrant entitles the holder thereof to purchase one share of common stock of the
Company, par value $0.01 per share (&ldquo;<B><I>Common Stock</I></B>&rdquo;), for $23.00 per share, subject to adjustment as described
herein;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Company desires
to provide for the form and provisions of the Warrants, the terms upon which they shall be issued and exercised, and the respective
rights, limitation of rights, and immunities of the Company and the holders of the Warrants; and</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, all acts and things
have been done and performed which are necessary to make the Warrants, when executed on behalf of the Company, the valid, binding
and legal obligations of the Company, and to authorize the execution and delivery of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in">NOW, THEREFORE, in consideration
of the mutual agreements herein contained, the parties hereto agree as follows:</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Warrants</U>.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 12pt 0; text-align: justify; text-indent: 1in">1.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Form
of Warrant</U>. Each Warrant shall be issued in registered form only and shall be in substantially the form of <U>Exhibit A</U>
hereto, the provisions of which are incorporated herein and shall be signed by, or bear the facsimile signature of, the Chief Executive
Officer, President, Chief Financial Officer, Secretary or other principal officer of the Company. In the event the person whose
facsimile signature has been placed upon any Warrant shall have ceased to serve in the capacity in which such person signed the
Warrant before such Warrant is issued, it may be issued with the same effect as if he or she had not ceased to be such at the date
of issuance.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 12pt 0; text-align: justify; text-indent: 1in">1.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Registration</U>.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 12pt 0; text-align: justify; text-indent: 1.5in">1.2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Warrant
Register</U>. The Company shall maintain books (the <FONT STYLE="color: windowtext">&ldquo;<B><I>Warrant Register</I></B>&rdquo;</FONT>)
for the registration of original issuance and the registration of transfer of the Warrants. Upon the initial issuance of the Warrants,
the Company shall register the Warrants in the names of the respective holders thereof in such denominations and otherwise in accordance
with instructions delivered to the Company by Torchlight.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 12pt 0; text-align: justify; text-indent: 1.5in">1.2.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Registered
Holder</U>. Prior to due presentment for registration of transfer of any Warrant, the Company may deem and treat the person in
whose name such Warrant is registered in the Warrant Register (the <FONT STYLE="color: windowtext">&ldquo;<B><I>Registered Holder</I></B>&rdquo;</FONT>)
as the absolute owner of such Warrant and of each Warrant represented thereby (notwithstanding any notation of ownership or other
writing on the Warrant Certificate (as defined below) made by anyone other than the Company), for the purpose of any exercise thereof,
and for all other purposes, and the Company shall not be affected by any notice to the contrary.</P>

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