---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-037440"
form_type: "8-K/A"
ticker: "NLOP"
cik: "0001952976"
company_name: "Net Lease Office Properties"
filed_at: "2023-11-07T23:59:59+00:00"
generated_at: "2026-06-08T17:52:35.897979+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001628280-23-037440
- form_type: 8-K/A
- ticker: NLOP
- cik: 0001952976
- company_name: Net Lease Office Properties
- filed_at: 2023-11-07T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1952976/000162828023037440/0001628280-23-037440-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1952976/000162828023037440/nlop2023q4anlopadvisoryagr.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-037440
- JSON: https://secwatch.observer/filing/0001628280-23-037440.json
- Plain text: https://secwatch.observer/filing/0001628280-23-037440.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.