Company: CIO
Filing Date: 2025-07-24
Form Type: DEFA14A
Source: 0001193125-25-163769
Chunk: 211

Company: City Office REIT, Inc.
Filing Date: 2025-07-24
Form: DEFA14A
Chunk 211
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 as follows: General Covenants of the Executive. The Executive acknowledges that as of July 23, 2025 the principal business of the Company is acquiring, owning and operating Suitable Properties. “ Suitable Properties” are defined as (x) developed commercial real estate properties (i) where at least eighty-five percent (85%) of the net rentable area is allocated for office use, (ii) that have leases in place for at least eighty-five percent (85%) of the net rentable area of the building, and (iii) with leases that have, in the aggregate, a weighted average (based on square footage) of at least three years remaining at the time of acquisition or (y) any underdeveloped or unimproved real property that is contiguous to a property owned by the Company. The acquisition, ownership and operation of Suitable Properties are collectively referred to as the “ Business”. The Executive also acknowledges that (i) the Company knows of a limited number of persons who have developed the Business; (ii) the Business is, in part, national in scope; (iii) the Executive’s work for the Company and its subsidiaries has given and will continue to give the Executive access to the confidential affairs, proprietary information and trade secrets of the Company; (iv) the covenants and agreements of the Executive contained in this Section 15 are essential to the business and goodwill of the Company; and (v) the Company would not have entered into this Agreement but for the covenants and agreements set forth in this Section 15. Section 15(b) is hereby amended and restated in its entirety as follows: Covenants Against Competition. The covenant against competition herein described shall apply during the Executive’s employment as provided herein and until the date that is the twelve (12) month anniversary of the termination of the Executive’s employment for any reason (the “ Restriction Period”), throughout the United States (the “ Restriction Territory”). During the Restriction Period the Executive shall not, anywhere within the Restricted Territory, directly or indirectly, own, manage, control or participate in the ownership, management, or control of, or be employed or engaged by or otherwise affiliated or associated with, in an executive, senior management, strategic or professional capacity, whether as an employee, employer, consultant, agent, principal, partner, stockholder, corporate officer, director or in any other individual or representative capacity, that is similar to an engagement in an executive, senior management, strategic or professional capacity although otherwise named in any business or venture