Company: CIO
Filing Date: 2025-08-22
Form Type: PREM14A
Source: 0001193125-25-186443
Chunk: 131

Company: City Office REIT, Inc.
Filing Date: 2025-08-22
Form: PREM14A
Chunk 131
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 applying deductibles, co-payments and out-of-pocket maximums as though such amounts had been paid in accordance with the terms and conditions of the plans maintained by the Surviving Entity or any of its controlled affiliates, as applicable, for the plan year in which the Effective Time occurs. From and after the closing date, Parent will cause the Surviving Entity and its controlled affiliates to honor in accordance with its terms, each employee benefit plan (other than any equity-based plan) and each other existing (as of immediately prior to the Effective Time) employment, bonus, change in control, retention, severance and termination protection plan, policy or agreement of or between us or our subsidiaries and any current or former officer, director or employee, in each case in accordance with the terms of the Merger Agreement and the disclosure schedules delivered in connection therewith. Parent acknowledges and agrees that the transactions contemplated by the Merger Agreement constitute a “change in control” for purposes of each of our benefit plans that uses such term or a similar term, including, without limitation, certain specified employment agreements. Financing of the Merger General Parent has informed us that in connection with the closing of the Merger, Parent expects to assume the outstanding indebtedness under our unsecured credit facility, our outstanding term loan and certain mortgage loans to be prepaid or remain outstanding. As of June 30, 2025, we had approximately $647 million in aggregate principal amount of consolidated unsecured indebtedness outstanding, including $258 million under our unsecured credit facility, $25 million under our term loan and $367 million under our mortgage loans. As of the date hereof, the term loan has been repaid from the net proceeds from the sale of certain of the Phoenix Assets and no amount remains outstanding. We anticipate that the total amount of funds necessary to complete the Merger, the sale of the Company’s Phoenix Assets and the transactions contemplated by the Merger Agreement will be approximately $1.1 billion, including the funds needed to:

| • |     | pay the Common Stock Merger Consideration and the Preferred Stock Merger Consideration due to holders of Common                                                        
 Stock and Preferred Stock, respectively, under the Merger Agreement, and make payments in respect of outstanding RSU Awards and PSU Awards under the Merger Agreement; |

| • |     | pay, redeem or otherwise terminate, or assume any of our outstanding indebtedness in connection with the 
 consummation of the Merger and the other transactions contemplated by the Merger Agreement; and          |

| •