Company: CIO
Filing Date: 2025-08-22
Form Type: PREM14A
Source: 0001193125-25-186443
Chunk: 92

Company: City Office REIT, Inc.
Filing Date: 2025-08-22
Form: PREM14A
Chunk 92
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 to each executive officer will be subject to compliance with the restrictive covenants described below. Executive Severance Benefits.The employment agreements with the executive officers provide that, if the employment of an executive officer is terminated by the Company without “cause” or by the executive officer for “good reason” (each as defined in the applicable employment agreement), the executive officer will be eligible to receive the following benefits in addition to the executive officer’s accrued obligations (as defined in the applicable employment agreement):

| • |     | a single cash payment equal to the sum of (x) a specified multiple of the executive officer’s annual                                                                                                                                        
 base salary on the date of termination, plus (y) the same multiple of the average annual cash bonuses paid to the executive officer for the prior two fiscal years of the Company, plus (z) the same multiple of the average amount granted 
 under the Company’s equity incentive plan to the executive officer for the prior two fiscal years of the Company, with the applicable multiple being set forth in each executive officer’s individual employment agreement;                 |

| • |     | a single cash payment equal to the product of (x) the annual bonus earned by the executive officer for the                                                                                                                                      
 fiscal year of the Company ended immediately before the date of termination and (y) a fraction, the numerator of which is the number of days the executive officer was employed by the Company during the fiscal year that includes the date of 
 termination and the denominator of which is 365;                                                                                                                                                                                                |

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| • |     | if the executive officer is entitled to elect continuation of coverage under the Company’s group health                                                                                                                                              
 plan pursuant to applicable law (including but not limited to COBRA and/or applicable employment standards legislation), the executive officer shall be provided continued coverage at the Company’s expense under any health insurance programs     
 maintained by the Company in which the executive officer participated at the time of his termination for twelve (12) months, or until, if earlier, the date the Executive obtains group health plan coverage under a group health plan maintained by 
 a new employer. To the extent the benefits provided under the immediately preceding sentence are otherwise taxable to the Executive under the Code, such benefits, for purposes of Section 409A of the Internal Revenue Code of 1986, as amended     
 (the “Code”) (and the regulations and other guidance issued thereunder) shall be provided as separate monthly in-kind payments of those benefits, and to the extent those benefits are subject to and                                                
 not otherwise excepted from Section 409A of the