Exhibit 10.14

Agree Realty Corporation

Agree Limited Partnership

2017 Executive Incentive Plan

This 2017 Executive Incentive Plan (the “Plan”) is a cash and equity compensation plan intended to encourage employees of Agree Realty Corporation (the “REIT”), a Maryland corporation, and Agree Limited Partnership (the “Partnership”), a Delaware limited partnership, and their subsidiaries (and, together with the REIT and the Partnership, the “Company”), to further the growth, development and financial success of the Company, to further align the Company and its executive officers’ performance with the interests of the Company’s shareholders, and to enable the Company to attract and retain highly-qualified employees. The Plan is for the benefit of the Participants (as defined below).

The Compensation Committee (the “Committee”) of the Board of Directors of the REIT (the “Board”) has adopted the Plan, effective February 16, 2017. All awards described herein are at the sole discretion of the Committee.

Performance Goals under the Plan shall be set annually by the Committee in its sole discretion. It is intended that the Performance Goals be objectively determinable, with the selection and weighting of the various Performance Goals to be approved by the Committee at the beginning of each Incentive Plan Year. A portion of an Incentive Award may also be subject to the Committee’s subjective judgment.

A Performance Goal may be a single goal or a range with a threshold goal up to a maximum goal. Unless otherwise determined by the Committee, the amount of each Participant’s Incentive Award shall be based upon an incentive formula determined by the Committee in its sole discretion that ties such Incentive Award to the attainment of the applicable Performance Goals. The Committee may in its sole discretion modify or change the incentive formulas and/or Performance Goals at any time and from time to time during or upon completion of an Incentive Plan Year.

Each Participant may be assigned a target cash incentive percentage (“Target Cash Incentive Percentage”) and a target equity incentive percentage (“Target Equity Incentive Percentage” and, together with the Target Cash Incentive Percentage, the “Target Incentive Percentages”) based on his or her job classification and responsibilities for the Incentive Plan Year. If a Participant moves from one Target Incentive Percentage level to another during an Incentive Plan Year, his or her Target Incentive Percentage will be prorated according to the time in each position during the Incentive Plan Year. The target cash incentive (“Target Cash Incentive”) for each Participant will be determined by multiplying his or her Target Cash Incentive Percentage by his or her annual base salary (“Base Salary”) earned for the Incentive Plan Year. The target equity incentive (“Target Equity Incentive” and, together with Target Cash Incentive, the “Target Incentive Award”) for each Participant will be determined by multiplying his or her Target Equity Percentage by his or her Base Salary. The Target Incentive Percentages for each Participant shall be approved by the Committee at the beginning of each Incentive Plan Year. Incentive Awards may have maximum payout potential of greater than 100% of the Participant’s Target Incentive Award.

For example, in 2017 the Committee approved the following Target Incentive Percentages for the Participants:

Target Cash Incentive. The Target Cash Incentive is earned based on the achievement of the applicable Performance Goals for the Incentive Plan Year. The Committee will evaluate the Company’s and/or Participant’s performance relative to the Performance Goals following the completion of the Incentive Plan Year. The actual Target Cash Incentive earned by a Participant will be interpolated between threshold, target and maximum. Performance will range from 0% for failure to reach threshold performance, to 50% of target for achieving threshold performance to 150% of target for achieving maximum performance.

Target Equity Incentive. The Target Equity Incentive is earned based on the achievement of the applicable Performance Goals for the Incentive Plan Year. The Committee will evaluate the Company’s and/or Participant’s performance relative to the Performance Goals following the completion of the Incentive Plan Year. The actual Target Equity Incentive earned by a Participant will be interpolated between threshold, target and maximum. Performance will range from 0% for failure to reach threshold performance to 50% of target for achieving threshold performance to 150% of target for achieving maximum performance. Based on the Committee’s determination of target achievement, the Participant will be issued at the time of such determination a number of restricted shares and a number of performance shares with a then aggregate fair market value equal to the amount of the incentive award payable in equity. The percentage of shares to be issued as restricted shares and the percentage of shares to be issued as performance shares shall be established by the Committee at the time of such issuance. The restricted shares shall vest ratably over a five year period with one-fifth of the shares vesting on each anniversary of the date of issuance. The performance shares shall be earned contingent on the achievement of long term performance goals (“Long Term Performance Goals”) achieved over a three-year period (the “Long Term Period”) following the end of the applicable Incentive Plan Year. The Long Term Performance Goals for the Incentive Plan Year applicable to such performance shares shall be set and communicated at the beginning of the Incentive Plan Year.

The Committee will evaluate the Company’s and/or Participant’s performance relative to the Long Term Performance Goals following the completion of the Long-Term Period and determine the performance range from 0% for failure to reach threshold performance to 50% of target for achieving threshold performance to 150% of target for achieving maximum performance. The performance shares earned will be interpolated between threshold, target and maximum. The Committee shall have the option to adjust each Long-Term Performance Goal as appropriate to take into account significant unbudgeted transactions and unforeseen events.

There will be no Incentive Award payable to a Participant for any metric in the event the Company achieves less than the threshold level for the applicable annual performance period.

The actual Incentive Awards for a Participant will be calculated by the Committee as soon as practicable following the completion of the relevant year by comparing the Performance Goals to the Target Incentive Awards for such Participant according to the weightings and methods approved by the Committee during the Incentive Plan Year. The Committee may, in its discretion, reduce or eliminate an Incentive Award otherwise payable to any Participant. Any such reduction or elimination may be made based on objective or subjective determinations as the Committee determines appropriate.

A Participant whose employment terminates voluntarily prior to earning his or her Incentive Awards (or, in the case of restricted shares, the vesting date) will not be eligible to receive or will be required to forfeit for no consideration the Incentive Award. If a Participant’s employment is terminated involuntarily during an Incentive Plan Year, or prior to payment, earning or vesting of his or her Incentive Award, other than by reason of his or her death or Disability (as defined below), it will be at the absolute discretion of the Committee whether or not any Incentive Award payment or grant is made or allowed to be retained or any remaining unvested restricted shares continue to vest. Incentive Award payments or grants will be prorated to the extent a Participant’s employment terminates during the Incentive Plan Year by reason of his or her death or Disability based on the portion of the fiscal year such Participant held an eligible position. Any proration pursuant to this Section 6 shall be made by the Committee, in its sole discretion.

For purposes of the Plan, “Disability” shall have the meaning ascribed to such term in the Agree Realty Corporation 2014 Omnibus Incentive Plan.