Re: Subscription Agreement for the Purchase of Undesignated Shares of Common StockJones Lang LaSalle Income Property Trust, Inc. • August 9th, 2012 • Real estate investment trusts • Maryland
The undersigned, LIC II Solstice Holdings, LLC, as of the 8th day of August 2012 (the “Purchase Date”), subscribes for and agrees to purchase $50,000,000 of the currently undesignated shares of the common stock, $0.01 par value (the “Existing Shares”), of Jones Lang LaSalle Income Property Trust, Inc. (the “Corporation”), pursuant to the terms and conditions of this Subscription Agreement. Upon the proper filing with the Maryland State Department of Assessments and Taxation (“SDAT”) of the Second Articles of Amendment and Restatement of the Corporation (the “Second Amended and Restated Charter”), in the form filed as Appendix A to the Definitive Proxy Statement filed with the Securities and Exchange Commission (the “SEC”) on May 29, 2012, the Existing Shares will change into Class E shares of common stock, $0.01 par value (the “Class E Shares”, and together with the Existing Shares, the “Shares”). The Class E Shares shall subsequently convert into Class M shares of common stock, $0.01
