SEC Contract Filing

Filing Date: 2015-06-08

Document Content:
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<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>a15-13691_1ex10d3.htm
<DESCRIPTION>EX-10.3
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 10.3</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">EXECUTION VERSION</font></u></b></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SECOND AMENDED AND RESTATED PROPERTY MANAGEMENT AGREEMENT</font></u></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">THIS SECOND AMENDED AND RESTATED PROPERTY MANAGEMENT AGREEMENT</font></b><font size="2" style="font-size:10.0pt;"> (this &#147;<u>Agreement</u>&#148;) is made and entered into as of June 5, 2015, by and among Reit Management&nbsp;&amp; Research LLC, a Maryland limited liability company (&#147;<u>Managing Agent</u>&#148;), and Senior Housing Properties Trust, a Maryland real estate investment trust (the &#147;<u>Company</u>&#148;), on behalf of itself and those of its subsidiaries as may from time to time own properties subject to this Agreement (each, an &#147;<u>Owner</u>&#148; and, collectively, &#147;<u>Owners</u>&#148;).</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">W</font></u></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;"> <u>I</u> <u>T</u> <u>N</u> <u>E</u> S <u>S</u> <u>E</u> <u>T</u> <u>H</u>:</font></b></p>
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<p style="margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">WHEREAS</font></b><font size="2" style="font-size:10.0pt;">, Owners and Managing Agent are parties to an Amended and Restated Property Management Agreement, dated as of January&nbsp;7, 2010, as amended as of January&nbsp;14, 2011, December&nbsp;11, 2012 and May&nbsp;9, 2014 (as so amended, the &#147;<u>Original Agreement</u>&#148;), pursuant to which Owners have engaged Managing Agent to manage certain of the medical office buildings, clinics and biomedical, pharmaceutical and laboratory properties (such types of properties, the &#147;<u>Properties</u>&#148;) from time to time subject to this Agreement (the &#147;<u>Managed Premises</u>&#148;); and</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">WHEREAS</font></b><font size="2" style="font-size:10.0pt;">, Owners and Managing Agent wish to continue the Original Agreement in force and effect with respect to services performed and fees due with respect to such services, on and prior to the date of this Agreement, but wish to amend and restate the Original Agreement as hereinafter provided, effective with respect to services performed and fees due with respect to such services after the date of this Agreement;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">NOW, THEREFORE</font></b><font size="2" style="font-size:10.0pt;">, in consideration of the premises and the agreements herein contained, Owners and Managing Agent hereby agree that the Original Agreement is hereby amended and restated to read in its entirety as follows:</font></p>
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<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><u><font size="2" style="font-size:10.0pt;font-weight:bold;">Engagement</font></u></b><font size="2" style="font-size:10.0pt;">.&#160; Subject to the terms and conditions hereinafter set forth, Owners hereby continue to engage Managing Agent to provide the property management and administrative services with respect to the Managed Premises contemplated by this Agreement.&#160; Managing Agent hereby accepts such continued engagement as managing agent and agrees to devote such time, attention and effort as may be appropriate to operate and manage the Managed Premises in a diligent, orderly and efficient manner.&#160; Managing Agent may subcontract out some or all of its obligations hereunder to third parties; <u>provided</u>, <u>however</u>, that, in any such event, Managing Agent shal