Common use of Duties of Position Clause in Contracts

Duties of Position. During the Employment Period, Executive shall serve as Chief Executive Officer and President of the Company. Executive’s duties shall include, without limitation, managing the overall business affairs of the Company and its senior executive team, formulating and implementing the strategic plan and investment program of the Company, and managing and assisting in the Company’s capital raising efforts and serving as the principal executive officer for purposes of executing all reports and financial statement certifications required to be filed by the Company pursuant to the Securities Exchange Act of 1934, as amended (the “Exchange Act”), together with such other duties as may be assigned to him from time to time by the Board of Directors of the Company (the “Board”) or any committee thereof, including the Executive Committee of the Board (the “Executive Committee”). Executive agrees to devote substantially all of Executive’s business time, attention and energies to the performance of the duties assigned to Executive hereunder, and to perform such duties faithfully, diligently and to the best of Executive’s abilities and subject to such laws, rules, regulations and policies from time to time applicable to the Company and its employees. Executive may (i) serve as a director to one corporate or other business or charitable entity, subject to the approval of the Board and (ii) manage his personal investments, subject to the conduct, ethics and investment policies of the Company (including, without limitation, the Company’s Code of Business Conduct, Code of Ethics and Securities Trading Policy, as such policies may be amended or supplemented from time to time), to the extent that such activities under clauses (i) and (ii) do not materially interfere with the performance of Executive’s duties under this Agreement.

Duties of Position. During the Employment Period, from and after the Amendment Effective Date, Executive shall serve as Founder and Executive Chairman of the Company. Executive shall perform such duties and responsibilities, consistent with Executive’s title, training and experience, as are from time to time reasonably assigned to Executive by the Board, to the extent consistent with Executive’s responsibilities as Founder and Executive Chairman of the Company. Executive shall report directly to the Board. It is anticipated that during the Employment Period, Executive shall serve also provide services directly to NRF and/or its subsidiaries, as Chief Executive Officer and President of the Company. Executive’s duties shall include, without limitation, managing the overall business affairs of well as to other entities with which the Company and or its senior executive teamsubsidiaries may have entered into or may enter into management agreements following the Effective Date (such entities, formulating and implementing the strategic plan and investment program of the Company, and managing and assisting in the Company’s capital raising efforts and serving as the principal executive officer for purposes of executing all reports and financial statement certifications required to be filed by the Company pursuant to the Securities Exchange Act of 1934, as amended (the “Exchange Act”), together with such other duties as may be assigned to him from time to time by the Board of Directors of the Company (the “Board”) or any committee thereof, including the Executive Committee of the Board (the “Executive CommitteeNSAM Managed Companies”). Executive agrees to devote substantially all not less than a majority of Executive’s business time, attention and energies to the performance of the duties assigned to Executive hereunderhereunder and his services to NRF and, if applicable, any other NSAM Managed Companies and their subsidiaries, and to perform such his duties hereunder faithfully, diligently and to the best of Executive’s abilities and subject to such laws, rules, regulations and policies from time to time applicable to the Company and its Company’s employees. Notwithstanding the above, nothing in this Agreement shall preclude Executive may (i) serve as from devoting a director portion of Executive’s business time, attention and energies to one corporate or other business endeavors. The Company may assign all or charitable entitya portion of its rights and obligations under this agreement to any of its affiliates or enter into an agreement with any of its affiliates that provides that Executive will perform services on behalf of such affiliate and Executive agrees to provide such services, subject to the approval of the Board and (ii) manage his personal investments, subject to the conduct, ethics and investment policies of the Company (including, without limitation, as directed by the Company’s Code of Business Conduct, Code of Ethics and Securities Trading Policy, as such policies may be amended or supplemented from time to time)in each case, to the extent that such activities under clauses (i) and (ii) do not materially interfere consistent with the performance of Executive’s duties under this Agreementresponsibilities as Founder and Executive Chairman of the Company.

Duties of Position. During the Employment Period, Executive shall serve as Chief Executive Financial Officer and President of the Company. Executive’s duties shall include, without limitation, managing the overall business affairs of the Company and its senior executive team, formulating and implementing the strategic plan and investment program of the Company, and managing and assisting in primary responsibility for the Company’s capital raising efforts financial functions, including all accounting, financial reporting, treasury, budgeting, forecasting and planning, including responsibility for the Company’s earnings model; oversight responsibility of real estate investment trust compliance, investor relations, research, risk management, information technology systems and functions, benefits and payroll; and involvement in all equity and debt financings and serving as the principal executive financial officer for purposes of executing all reports and financial statement certifications required to be filed by the Company pursuant to the Securities Exchange Act of 1934, as amended (the “Exchange Act”), together with such other duties as may be assigned to him from time to time by the Board of Directors Chief Executive Officer of the Company (the “Board”) or any committee thereof, including the Executive Committee of the Board (the “Executive CommitteeCEO”). Company, in consultation with Executive, shall use commercially reasonable efforts to engage a controller reasonably dedicated to the Company who shall report to the Executive. Executive agrees to devote substantially all of Executive’s business time, attention and energies to the performance of the duties assigned to Executive hereunder, and to perform such duties faithfully, diligently and to the best of Executive’s abilities and subject to such laws, rules, regulations and policies from time to time applicable to the Company and its employees. Executive may (i) serve as a director to one corporate or other business or charitable entity, subject to the approval of the Board and (ii) manage his personal investments, subject to the conduct, ethics and investment policies of the Company (including, without limitation, the Company’s Code of Business Conduct, Code of Ethics and Securities Trading Policy, as such policies may be amended or supplemented from time to time), to the extent that such activities under clauses (i) and (ii) do not materially interfere with the performance of Executive’s duties under this Agreement. Solely for purposes of clarification, Company acknowledges that Executive is in the process of completing certain consulting assignments as disclosed in writing to the Company. Such assignments shall not interfere with Executive’s responsibilities and duties under this Agreement and shall be completed no later than December 31, 2010.