NLOP corrects advisory agreement termination fee; $7.5M annual fee cap for management services

Net Lease Office Properties

Advisory agreements with W. P. Carey Management LLC and W. P. Carey & Co. B.V. dated Nov 1, 2023, for strategic management, asset management, and property disposition support.
Management fee of $625,000 per month, adjusted proportionally upon property dispositions, with annual cap of $7.5M.
Termination fee corrected: 0.5x trailing twelve-month aggregate fees upon Company termination for convenience or Advisor Good Reason termination.
Initial term of three years, automatic renewal for one-year terms.
Base administrative reimbursement of $333,333.33 per month plus out-of-pocket expenses.

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