Company: CIO
Filing Date: 2025-03-12
Form Type: DEF 14A
Source: 0001193125-25-052437
Chunk: 85

Company: City Office REIT, Inc.
Filing Date: 2025-03-12
Form: DEF 14A
Chunk 85
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 of interest” arises when the private interest of a person covered by the code interferes in any material respect with our interests or his or her service to us. Waivers of our code of ethics for certain covered persons must be disclosed in accordance with NYSE and SEC requirements. In addition, our Board of Directors is subject to certain provisions of Maryland law, which are also designed to eliminate or minimize conflicts. However, we cannot assure you that these policies or provisions of law will always succeed in eliminating the influence of such conflicts. If they are not successful, decisions could be made that might fail to reflect fully the interests of all stockholders.

We do not have a policy that expressly prohibits our directors, officers, security holders or any of our affiliates from engaging for their own account in business activities of the types conducted by us.

#### Administrative Services Agreements
In connection with the internalization of our management in February 2016, a subsidiary of the Company entered into an Administrative Services Agreement with the Second City funds (the “Original Administrative Services Agreement”). The Original Administrative Services Agreement had a three year term and pursuant to the agreement, the Company, including James Farrar and Gregory Tylee, provided various administrative services and support to the related entities managing the Second City funds.

On October 29, 2018, the Company entered into the First Amendment (the “Amendment”) to the Original Administrative Services Agreement with real estate investment funds affiliated with Second City Capital II Corporation and Second City Real Estate II Corporation (“SCRE II”). The terms of the Amendment became effective on February 1, 2019 (the “Effective Date”). After February 1, 2019, the annual fees payable to the Company were $500,000 for the first twelve months following the Effective Date and thereafter an amount equal to 40% of the management fee paid to SCRE II by the fund managed by SCRE II. During the years ended December 31, 2024, 2023, and 2022, the Company earned $0.2 million, $0.1 million, and $0.3 million, respectively, in administrative services performed for SCRE II and its affiliates.

On July 31, 2019, an indirect, wholly owned subsidiary of the Company entered into an administrative services agreement with Clarity Real Estate Ventures GP, Limited Partnership (“Clarity”), an entity affiliated with principals of Second City and officers of the Company. Pursuant to the Administrative Services Agreement, the Company will provide various administrative services and support to