Company: CIO
Filing Date: 2025-07-24
Form Type: DEFA14A
Source: 0001193125-25-163769
Chunk: 203

Company: City Office REIT, Inc.
Filing Date: 2025-07-24
Form: DEFA14A
Chunk 203
---
 for any reason, or no reason at all (the “Seller Termination Right”), by delivering written notice thereof to Buyer at any time prior to the expiration of the Property Approval Period, in which case
this Agreement shall be terminated, and neither party shall have any further rights or obligations under this Agreement except for those obligations that expressly survive any termination hereof. In the event that Seller terminates this Agreement
pursuant to this , then Buyer shall be entitled to the return of the Deposit in accordance with and and, subject to the satisfaction of the Seller Termination Fee Payment
Condition Precedent, Seller shall promptly pay to Buyer as a termination fee (and not as a penalty) (the “Seller Termination Fee”) either: (x) if Seller terminates this Agreement under this
prior to the expiration of the initial Property Approval Period because Seller determines (which determination shall be made in Seller’s sole and absolute but good faith discretion) that a CIO Sale Transaction is unlikely to proceed,
$500,000.00; (y) if Seller exercises one or both of its options under to extend the Property Approval Period and Seller thereafter terminates this Agreement under this this
prior to the expiration of the Property Approval Period (as so extended), for any reason or no reason at all, $1,000,000.00; or (z) if Seller terminates this Agreement under this prior to the expiration of
the Property Approval Period (as the same may have been extended in accordance with ) because one or more purchasers under a CIO Sale Transaction requires that such transaction include the Property,
$2,960,000.00. In connection with Seller’s termination of this Agreement pursuant to clauses (x), (y), or (z) above, Seller shall certify in its termination notice the applicable clause under which Seller is terminating this Agreement and
the factual basis therefor (the “Seller Termination Certification”), which certification, if this Agreement is terminated pursuant to clause (z) above, shall include copies or excerpts of any public disclosures filed or
otherwise made by CIO that reasonably support the basis of such termination, and shall otherwise be final and binding on both Seller and Buyer for purposes of determining the applicable Seller Termination Fee that is owed to Buyer hereunder. For the
avoidance of doubt, (i) the Seller Termination Fee shall be determined under one of (but not more than one of) the foregoing clauses (x) through (z), inclusive, and (ii) in no event will any Seller Termination Fee