0001193125-10-183566 Sample Contracts

RAIT FINANCIAL TRUST Common Shares of Beneficial Interest (par value $0.01 per share) Capital on Demand™ Sales Agreement
Capital on Demand Sales Agreement • August 9th, 2010 • RAIT Financial Trust • Real estate investment trusts • New York

RAIT Financial Trust, a Maryland real estate investment trust (the “Company”) and RAIT Partnership, L.P., a Delaware limited partnership (the “Partnership”), confirm their agreement (this “Agreement”) with JonesTrading Institutional Services LLC (the “Agent”), as follows: