Document:

Guaranty Agreement

 Exhibit 10.3 

GUARANTY AGREEMENT 

THIS GUARANTY AGREEMENT (this “Guaranty”) is executed as of July 18, 2014, by CITY OFFICE REIT, INC., a
Maryland corporation, having an address at 1075 West Georgia Street, Suite 2600, Vancouver, British Columbia V6E 3C9, Canada (together with its permitted successors and assigns, whether one or more, collectively referred to as
“Guarantor”), for the benefit of SECURITY BENEFIT LIFE INSURANCE COMPANY, a Kansas insurance company, having an address at One Security Benefit Place, Topeka, Kansas 66636 (together with its successors and assigns,
“Lender”). 

W I T N E S S E T H :

 WHEREAS, pursuant to that certain Promissory Note, dated of as of the date hereof, executed by CIO Lake Vista, Limited
Partnership, a Delaware limited partnership (“Borrower”), and payable to the order of Lender in the original principal amount of EIGHTEEN MILLION FOUR HUNDRED SIXTY THOUSAND AND NO/100 DOLLARS ($18,460,000.00) (as the same
may be amended, restated, replaced, supplemented, or otherwise modified from time to time, the “Note”), Borrower has become indebted, and may from time to time be further indebted, to Lender with respect to a loan
(“Loan”) made pursuant to that certain Loan Agreement, of even date herewith between Borrower and Lender (as the same may be amended, restated, replaced, supplemented, or otherwise modified from time to time, the “Loan
Agreement”), which Loan is secured by that certain Deed of Trust and Security Agreement, dated as of the date hereof, made by Borrower to Lender (as the same may be amended, restated, replaced, supplemented, or otherwise modified from time
to time, the “Mortgage”), and further evidenced, secured or governed by other instruments and documents executed in connection with the Loan (together with the Note, the Loan Agreement and the Mortgage, collectively, the
“Loan Documents”); 
 WHEREAS, Lender is not willing to make the Loan, or otherwise extend credit, to Borrower
unless Guarantor unconditionally guarantees payment and performance to Lender of the Guaranteed Obligations (as herein defined); and 

WHEREAS, Guarantor is the owner of a direct or indirect interest in Borrower, and Guarantor will directly benefit from Lender’s
making the Loan to Borrower. 
 NOW, THEREFORE, as an inducement to Lender to make the Loan to Borrower, and for other good
and valuable consideration, the receipt and legal sufficiency of which are hereby acknowledged, the parties do hereby agree as follows: 

ARTICLE I 
 NATURE AND
SCOPE OF GUARANTY 
 1.1 Guaranty of Obligation. Guarantor hereby irrevocably and unconditionally guarantees to Lender and
its successors and assigns the payment and performance of the Guaranteed Obligations as and when the same shall be due and payable, whether by lapse of time, by acceleration of maturity or otherwise. Guarantor hereby irrevocably and unconditionally
covenants and agrees that it is liable for the Guaranteed Obligations as a primary obligor. 

 1.2 Definition of Guaranteed Obligations. As used herein, the term
“Guaranteed Obligations” means all obligations and liabilities of Borrower for which Borrower shall be liable pursuant to Section 9.4 of the Loan Agreement. 

1.3 Nature of Guaranty. This Guaranty is an irrevocable, absolute, continuing guaranty of payment and performance and not a
guaranty of collection. This Guaranty may not be revoked by Guarantor and shall continue to be effective with respect to any Guaranteed Obligations arising or created after any attempted revocation by Guarantor and after (if Guarantor is a natural
person) Guarantor’s death (in which event this Guaranty shall be binding upon Guarantor’s estate and Guarantor’s legal representatives and heirs). The fact that at any time or from time to time the Guaranteed Obligations may be
increased or reduced shall not release or discharge the obligation of Guarantor to Lender with respect to the Guaranteed Obligations. This Guaranty may be enforced by Lender and any subsequent holder of the Note and shall not be discharged by the
assignment or negotiation of all or part of the Note. Notwithstanding anything contained herein to the contrary, this Guaranty shall terminate and Guarantor shall be released from its obligations hereunder upon the payment in full of the
Indebtedness, whether at maturity or as a result of acceleration, or upon prepayment of the Loan in accordance with the Loan Agreement. 

1.4 Guaranteed Obligations Not Reduced by Offset. Subject to Section 2.10 hereof, the Guaranteed Obligations and the
liabilities and obligations of Guarantor to Lender hereunder shall not be reduced, discharged or released because or by reason of any existing or future offset, claim or defense of Borrower, or any other party, against Lender or against payment of
the Guaranteed Obligations, whether such offset, claim or defense arises in connection with the Guaranteed Obligations (or the transactions creating the Guaranteed Obligations) or otherwise. 

1.5 Payment By Guarantor. If all or any part of the Guaranteed Obligations shall not be punctually paid when due, whether at
demand, maturity, acceleration or otherwise, Guarantor shall, immediately upon demand by Lender, and without presentment, protest, notice of protest, notice of non-payment, notice of intention to accelerate the maturity, notice of acceleration of
the maturity, or any other notice whatsoever, pay in lawful money of the United States of America, the amount due on the Guaranteed Obligations to Lender at Lender’s address as set forth herein. Such demand(s) may be made at any time coincident
with or after the time for payment of all or part of the Guaranteed Obligations, and may be made from time to time with respect to the same or different items of Guaranteed Obligations. Such demand shall be deemed made, given and received in
accordance with the notice provisions hereof. 
 1.6 No Duty To Pursue Others. It shall not be necessary for Lender (and
Guarantor hereby waives any rights which Guarantor may have to require Lender), in order to enforce the obligations of Guarantor hereunder, first to (a) institute suit or exhaust its remedies against Borrower or others liable on the Loan or the
Guaranteed Obligations or any other person, (b) enforce Lender’s rights against any collateral which shall ever have been given to secure the Loan, (c) enforce Lender’s rights against any other guarantors of the Guaranteed
Obligations, (d) 

  
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join Borrower or any others liable on the Guaranteed Obligations in any action seeking to enforce this Guaranty, (e) exhaust any remedies available to Lender against any collateral which
shall ever have been given to secure the Loan, or (f) resort to any other means of obtaining payment of the Guaranteed Obligations. Lender shall not be required to mitigate damages or take any other action to reduce, collect or enforce the
Guaranteed Obligations. 
 1.7 Waivers. Guarantor agrees to the provisions of the Loan Documents, and hereby waives to the
fullest extent now or hereafter not prohibited by applicable law notice of, and any rights of consent to: (a) any loans or advances made by Lender to Borrower, (b) acceptance of this Guaranty, (c) any amendment or extension of the
Note, the Loan Agreement or of any other Loan Documents, (d) the execution and delivery by Borrower and Lender of any other loan or credit agreement or of Borrower’s execution and delivery of any promissory notes or other documents arising
under the Loan Documents or in connection with the Property, (e) the occurrence of any breach by Borrower of any of the terms or conditions of the Loan Agreement or any other Loan Document or an Event of Default, (f) Lender’s transfer
or disposition of the Guaranteed Obligations, or any part thereof, (g) sale or foreclosure (or posting or advertising for sale or foreclosure) of any collateral for the Guaranteed Obligations, (h) protest, proof of non-payment or default
by Borrower, and (i) any other action at any time taken or omitted by Lender, and, generally, all demands and notices of every kind in connection with this Guaranty, the Loan Documents, any documents or agreements evidencing, securing or
relating to any of the Guaranteed Obligations. 
 1.8 Payment of Expenses. In the event that Guarantor should breach or fail
to timely perform any provisions of this Guaranty, Guarantor shall, immediately upon demand by Lender, pay Lender all out-of-pocket costs and expenses (including court costs and attorneys’ fees) actually incurred by Lender in the enforcement
hereof or the preservation of Lender’s rights hereunder. The covenant contained in this Section 1.8 shall survive the payment and performance of the Guaranteed Obligations. 

1.9 Effect of Bankruptcy. In the event that, pursuant to any insolvency, bankruptcy, reorganization, receivership or other
debtor relief law, or any judgment, order or decision thereunder, Lender must rescind or restore any payment, or any part thereof, received by Lender in satisfaction of the Guaranteed Obligations, as set forth herein, any prior release or discharge
from the terms of this Guaranty given to Guarantor by Lender shall be without effect, and this Guaranty shall remain in full force and effect. It is the intention of Borrower and Guarantor that Guarantor’s obligations hereunder shall not be
discharged except by Guarantor’s performance of such obligations and then only to the extent of such performance. 
 1.10 Waiver
of Subrogation, Reimbursement and Contribution. Notwithstanding anything to the contrary contained in this Guaranty, until the Guaranteed Obligations are repaid in full, Guarantor hereby unconditionally and irrevocably waives, releases and
abrogates any and all rights it may now or hereafter have under any agreement, at law or in equity (including, without limitation, any law subrogating the Guarantor to the rights of Lender), to assert any claim against or seek contribution,
indemnification or any other form of reimbursement from Borrower or any other party liable for payment of any or all of the Guaranteed Obligations for any payment made by Guarantor under or in connection with this Guaranty or otherwise. 

  
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 1.11 Borrower. The term “Borrower” as used herein shall
include any new or successor corporation, association, partnership (general or limited), joint venture, trust or other individual or organization formed as a result of any merger, reorganization, sale, transfer, devise, gift or bequest of Borrower
or any interest in Borrower. 
 ARTICLE II 

EVENTS AND CIRCUMSTANCES NOT REDUCING 

OR DISCHARGING GUARANTOR’S OBLIGATIONS 

Guarantor hereby consents and agrees to each of the following, and agrees that Guarantor’s obligations under this Guaranty shall not be
released, diminished, impaired, reduced or adversely affected by any of the following, and, to the extent permitted by applicable law, waives any common law, equitable, statutory or other rights (including without limitation rights to notice) which
Guarantor might otherwise have as a result of or in connection with any of the following: 
 2.1 Modifications. Any renewal,
extension, increase, modification, alteration or rearrangement of all or any part of the Guaranteed Obligations, the Note, the Loan Agreement, the other Loan Documents, or any other document, instrument, contract or understanding between Borrower
and Lender, or any other parties, pertaining to the Guaranteed Obligations or any failure of Lender to notify Guarantor of any such action. 

2.2 Adjustment. Any adjustment, indulgence, forbearance or compromise that might be granted or given by Lender to Borrower or
any Guarantor. 
 2.3 Condition of Borrower or Guarantor. The insolvency, bankruptcy, arrangement, adjustment, composition,
liquidation, disability, dissolution or lack of power of Borrower, Guarantor or any other party at any time liable for the payment of all or part of the Guaranteed Obligations; or any dissolution of Borrower or Guarantor, or any sale, lease or
transfer of any or all of the assets of Borrower or Guarantor, or any changes in the shareholders, partners or members of Borrower or Guarantor; or any reorganization of Borrower or Guarantor. 

2.4 Invalidity of Guaranteed Obligations. The invalidity, illegality or unenforceability of all or any part of the Guaranteed
Obligations, or any document or agreement executed in connection with the Guaranteed Obligations, for any reason whatsoever, including without limitation the fact that (a) the Guaranteed Obligations, or any part thereof, exceeds the amount
permitted by law, (b) the act of creating the Guaranteed Obligations or any part thereof is ultra vires, (c) the officers or representatives executing the Note, the Loan Agreement or the other Loan Documents or otherwise
creating the Guaranteed Obligations acted in excess of their authority, (d) the Guaranteed Obligations violate applicable usury laws, (e) the Borrower has valid defenses, claims or offsets (whether at law, in equity or by agreement) which
render the Guaranteed Obligations wholly or partially uncollectible from Borrower (other than the payment in full of the Guaranteed Obligations), (f) the creation, performance or repayment of the Guaranteed Obligations (or the execution, delivery
and performance of any document or instrument representing part of the Guaranteed Obligations or executed in connection with the Guaranteed Obligations, or given to secure the repayment of the Guaranteed Obligations) is

  
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illegal, uncollectible or unenforceable, or (g) the Note, the Loan Agreement or any of the other Loan Documents have been forged or otherwise are irregular or not genuine or authentic, it
being agreed that Guarantor shall remain liable hereon regardless of whether Borrower or any other Person be found not liable on the Guaranteed Obligations or any part thereof for any reason (other than the payment in full of the Guaranteed
Obligations). 
 2.5 Release of Obligors. Any full or partial release of the liability of Borrower on the Guaranteed
Obligations, or any part thereof, or of any co-guarantors, or any other person or entity now or hereafter liable, whether directly or indirectly, jointly, severally, or jointly and severally, to pay, perform, guarantee or assure the payment of the
Guaranteed Obligations, or any part thereof, it being recognized, acknowledged and agreed by Guarantor that Guarantor may be required to pay the Guaranteed Obligations in full without assistance or support of any other party, and Guarantor has not
been induced to enter into this Guaranty on the basis of a contemplation, belief, understanding or agreement that other Persons will be liable to pay or perform the Guaranteed Obligations, or that Lender will look to other Persons to pay or perform
the Guaranteed Obligations. 
 2.6 Other Collateral. The taking or accepting of any other security, collateral or guaranty, or
other assurance of payment, for all or any part of the Guaranteed Obligations. 
 2.7 Release of Collateral. Any
release, surrender, exchange, subordination, deterioration, waste, loss or impairment (including without limitation negligent, willful, unreasonable or unjustifiable impairment) of any collateral, property or security at any time existing in
connection with, or assuring or securing payment of, all or any part of the Guaranteed Obligations. 
 2.8 Care and Diligence.
The failure of Lender or any other party to exercise diligence or reasonable care in the preservation, protection, enforcement, sale or other handling or treatment of all or any part of such collateral, property or security, including but not
limited to any neglect, delay, omission, failure or refusal of Lender (a) to take or prosecute any action for the collection of any of the Guaranteed Obligations or (b) to foreclose, or initiate any action to foreclose, or, once commenced,
prosecute to completion any action to foreclose upon any security therefor, or (c) to take or prosecute any action in connection with any instrument or agreement evidencing or securing all or any part of the Guaranteed Obligations. 

2.9 Unenforceability. The fact that any collateral, security, security interest or lien contemplated or intended to be given,
created or granted as security for the repayment of the Guaranteed Obligations, or any part thereof, shall not be properly perfected or created, or shall prove to be unenforceable or subordinate to any other security interest or lien, it being
recognized and agreed by Guarantor that Guarantor is not entering into this Guaranty in reliance on, or in contemplation of the benefits of, the validity, enforceability, collectibility or value of any of the collateral for the Guaranteed
Obligations. 
 2.10 Offset. Any existing or future right of offset, claim or defense of Borrower or Guarantor against Lender,
or any other Person, or against payment of the Guaranteed Obligations, whether such right of offset, claim or defense arises in connection with 

  
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the Guaranteed Obligations (or the transactions creating the Guaranteed Obligations) or otherwise, other than a good faith claim or defense of payment in full of the Guaranteed Obligations or
that the alleged breach of the Guaranteed Obligation giving rise to the payment obligation hereunder did not occur or did not constitute a breach of the Guaranteed Obligation. 

2.11 Merger. The reorganization, merger or consolidation of Borrower into or with any other corporation or entity. 

2.12 Preference. Any payment by Borrower to Lender is held to constitute a preference under bankruptcy laws, or for any reason
Lender is required to refund such payment or pay such amount to Borrower or someone else. 
 2.13 Other Actions Taken or
Omitted. It is the unambiguous and unequivocal intention of Guarantor that Guarantor shall be obligated to pay the Guaranteed Obligations when due, notwithstanding any occurrence, circumstance, event, action, or omission whatsoever,
including, without limitation, any action taken or omitted to be taken with respect to the Loan Documents, the Guaranteed Obligations, or the security and collateral therefor, whether contemplated or uncontemplated, whether or not such action or
omission prejudices Guarantor or increases the likelihood that Guarantor will be required to pay the Guaranteed Obligations pursuant to the terms hereof, and whether or not otherwise or particularly described herein. The obligation of Guarantor
hereunder shall be deemed satisfied only upon the full and final payment and satisfaction of the Guaranteed Obligations. 
 ARTICLE III

 REPRESENTATIONS AND WARRANTIES 

To induce Lender to enter into the Loan Documents and extend credit to Borrower, Guarantor represents and warrants to Lender as follows: 

3.1 Benefit. Guarantor is an Affiliate of Borrower, is the owner of a direct or indirect interest in Borrower, and has received,
or will receive, direct or indirect benefit from the making of this Guaranty with respect to the Guaranteed Obligations. 
 3.2
Familiarity and Reliance. Guarantor is familiar with, and has independently reviewed books and records regarding, the financial condition of Borrower and is familiar with the value of any and all collateral intended to be created as
security for the payment of the Note or Guaranteed Obligations; however, Guarantor is not relying on such financial condition or the collateral as an inducement to enter into this Guaranty. 

3.3 No Representation By Lender. Neither Lender nor any other party has made any representation, warranty or statement to
Guarantor in order to induce the Guarantor to execute this Guaranty. 
 3.4 Guarantor’s Financial Condition. 

(a) As of the date hereof, and after giving effect to this Guaranty and the contingent obligation evidenced hereby, Guarantor is, and intends
to remain, solvent, and has 

  
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and intends to maintain assets which, fairly valued, exceed its obligations, liabilities (including contingent liabilities) and debts, and has and intends to maintain property and assets
sufficient to satisfy and repay its obligations and liabilities. 
 (b) Guarantor shall, at all times while the Debt remains unsatisfied,
maintain a net worth of not less than $20,000,000.00. For the purposes hereof, Guarantor’s net worth and liquidity shall be determined by Lender in its reasonable discretion, at any time and from time to time, and Guarantor’s net worth
shall exclude any equity attributable to the Property but shall include the value of the investment units of Guarantor that may be exchanged for cash. 

3.5 Legality. The execution, delivery and performance by Guarantor of this Guaranty and the consummation of the transactions
contemplated hereunder do not, and will not, contravene or conflict with any law, statute or regulation whatsoever to which Guarantor is subject or constitute a default (or an event which with notice or lapse of time or both would constitute a
default) under, or result in the breach of, any indenture, mortgage, deed of trust, charge, lien, or any contract, agreement or other instrument to which Guarantor is a party or which may be applicable to Guarantor. This Guaranty is a legal and
binding obligation of Guarantor and is enforceable in accordance with its terms, except as limited by bankruptcy, insolvency or other laws of general application relating to the enforcement of creditors’ rights. Guarantor has been duly
organized and is validly existing and in good standing with requisite power and authority to (a) transact the businesses in which it is now engaged, (b) execute and delivery this Guaranty and (c) perform the Guaranteed Obligations of
Borrower. Guarantor is duly qualified to do business and is in good standing in each jurisdiction where it is required to be so qualified in connection with its businesses and operations, including without limitation, in its state of formation or
organization, as applicable and Guarantor has paid in full all franchise taxes that may be payable to the state of its formation or organization, as applicable. 

3.6 Taxes. Guarantor has filed all federal, state, county, municipal, and city income and other tax returns required to have
been filed by it and has paid all taxes and related liabilities which have become due pursuant to such returns or pursuant to any assessments received by it. Guarantor has no knowledge of any basis for any additional assessment in respect of any
such taxes and related liabilities for prior years. 
 3.7 Survival. All representations and warranties made by Guarantor
herein shall survive the execution hereof. 
 ARTICLE IV 

SUBORDINATION OF CERTAIN INDEBTEDNESS 

4.1 Subordination of All Guarantor Claims. As used herein, the term “Guarantor Claims” shall mean all debts and
liabilities of Borrower to Guarantor, whether such debts and liabilities now exist or are hereafter incurred or arise, or whether the obligations of Borrower thereon be direct, contingent, primary, secondary, several, joint and several, or
otherwise, and irrespective of whether such debts or liabilities be evidenced by note, contract, open account, or otherwise, and irrespective of the Person in whose favor such debts or liabilities may, at their inception, have been, or may hereafter
be created, or the manner in which they have 

  
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been or may hereafter be acquired by Guarantor. The Guarantor Claims shall include without limitation all rights and claims of Guarantor against Borrower (arising as a result of subrogation or
otherwise) as a result of Guarantor’s payment of all or a portion of the Guaranteed Obligations. Until payment in full of the Guaranteed Obligations, Guarantor shall not receive or collect, directly or indirectly, from Borrower or any other
party any amount upon the Guarantor Claims. 
 4.2 Claims in Bankruptcy. In the event of receivership, bankruptcy,
reorganization, arrangement, debtor’s relief, or other insolvency proceedings involving Guarantor as debtor, Lender, until the Guaranteed Obligations are repaid in full, shall have the right to prove its claim in any such proceeding so as to
establish its rights hereunder and receive directly from the receiver, trustee or other court custodian dividends and payments which would otherwise be payable upon Guarantor Claims. Guarantor hereby assigns such dividends and payments to Lender.
Should Lender receive, for application upon the Guaranteed Obligations, any such dividend or payment which is otherwise payable to Guarantor, and which, as between Borrower and Guarantor, shall constitute a credit upon the Guarantor Claims, then
upon payment to Lender in full of the Guaranteed Obligations, Guarantor shall become subrogated to the rights of Lender to the extent that such payments to Lender on the Guarantor Claims have contributed toward the liquidation of the Guaranteed
Obligations, and such subrogation shall be with respect to that proportion of the Guaranteed Obligations which would have been unpaid if Lender had not received dividends or payments upon the Guarantor Claims. 

4.3 Payments Held in Trust. In the event that, notwithstanding anything to the contrary in this Guaranty, Guarantor should
receive any funds, payment, claim or distribution which is prohibited by this Guaranty, Guarantor agrees to hold in trust for Lender an amount equal to the amount of all funds, payments, claims or distributions so received, and agrees that it shall
have absolutely no dominion over the amount of such funds, payments, claims or distributions so received except to pay them promptly to Lender, and Guarantor covenants promptly to pay the same to Lender. 

4.4 Liens Subordinate. Guarantor agrees that any liens, security interests, judgment liens, charges or other encumbrances upon
Borrower’s assets securing payment of the Guarantor Claims shall be and remain inferior and subordinate to any liens, security interests, judgment liens, charges or other encumbrances upon Borrower’s assets securing payment of the
Guaranteed Obligations, regardless of whether such encumbrances in favor of Guarantor or Lender presently exist or are hereafter created or attach. Until the payment in full of the Guaranteed Obligations, without the prior written consent of Lender,
neither Guarantor nor any of its Affiliates shall (a) exercise or enforce any creditor’s right it may have against Borrower (b) create any Liens encumbering the Property, Borrower or any interest in either of the foregoing, other than
Permitted Encumbrances, or (c) foreclose, repossess, sequester or otherwise take steps or institute any action or proceedings (judicial or otherwise, including without limitation the commencement of, or joinder in, any liquidation, bankruptcy,
rearrangement, debtor’s relief or insolvency proceeding) to enforce any liens, mortgages, deeds of trust, security interests, collateral rights, judgments or other encumbrances on assets of Borrower held by Guarantor. 

  
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 ARTICLE V 

MISCELLANEOUS 
 5.1
Waiver. No failure to exercise, and no delay in exercising, on the part of Lender, any right hereunder shall operate as a waiver thereof, nor shall any single or partial exercise thereof preclude any other or further exercise thereof or
the exercise of any other right. The rights of Lender hereunder shall be in addition to all other rights provided by law. No modification or waiver of any provision of this Guaranty, nor consent to departure therefrom, shall be effective unless in
writing and no such consent or waiver shall extend beyond the particular case and purpose involved. No notice or demand given in any case shall constitute a waiver of the right to take other action in the same, similar or other instances without
such notice or demand. 
 5.2 Notices. Any notice, demand, statement, request or consent made hereunder shall be in writing
and shall be deemed to be received by the addressee on the third day following the day such notice is deposited with the United States Postal Service first class certified mail, return receipt requested, addressed to the address, as set forth below,
of the party to whom such notice is to be given, or to such other address as either party shall in like manner designate in writing. The addresses of the parties hereto are as follows: 

Guarantor: 
 City Office REIT,
Inc. 
 1075 West Georgia Street, Suite 2600 

Vancouver, British Columbia V6E 3C9, Canada 

Attention: Jamie Farrar 

Facsimile No.: 604-661-4873 

with a copy to: 
 Miller,
Canfield, Paddock & Stone, P.L.C 
 101 North Main Street, 7th Floor 

Ann Arbor, Michigan 48104 

Attention: Joseph M. Fazio, Esq. 

Facsimile No.: 734-747-7147 

Lender: 
 Security Benefit Life
Insurance Company 
 One Security Benefit Place 

Topeka, Kansas 66636 
 Attention:
Investment Accounting Department 
 Facsimile No.: 785-368-1458 

with a copy to: 
 Security
Benefit Life Insurance Company 

  
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 c/o Guggenheim Commercial Real Estate Finance, LLC 

3414 Peachtree Road NE, Suite 975 

Atlanta, Georgia 30326 

Attention: Eugene Ansley, Jr.

Facsimile No.: 404-995-7001 
 and
to: 
 Venable LLP 
 1270 Avenue
of the Americas 
 New York, New York 10020 

Attention: Michael Peskowitz, Esq. 

Facsimile No.: 212-307-5598 

5.3 Governing Law; Jurisdiction; Service of Process. (a) THIS GUARANTY WAS NEGOTIATED IN THE STATE OF NEW YORK, AND MADE BY
GUARANTOR AND ACCEPTED BY LENDER IN THE STATE OF NEW YORK, AND THE PROCEEDS OF THE NOTE WERE DISBURSED FROM THE STATE OF NEW YORK, WHICH STATE THE PARTIES AGREE HAS A SUBSTANTIAL RELATIONSHIP TO THE PARTIES AND TO THE UNDERLYING TRANSACTION RELATED
HERETO, AND IN ALL RESPECTS, INCLUDING, WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, MATTERS OF CONSTRUCTION, VALIDITY AND PERFORMANCE, THIS GUARANTY AND THE OBLIGATIONS ARISING HEREUNDER SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH,
THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE AND PERFORMED IN SUCH STATE (WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF LAWS) AND ANY APPLICABLE LAW OF THE UNITED STATES OF AMERICA. TO THE FULLEST EXTENT PERMITTED BY LAW, GUARANTOR
HEREBY UNCONDITIONALLY AND IRREVOCABLY WAIVES ANY CLAIM TO ASSERT THAT THE LAW OF ANY OTHER JURISDICTION GOVERNS THIS GUARANTY AND/OR THE OTHER LOAN DOCUMENTS, AND THIS GUARANTY AND THE OTHER LOAN DOCUMENTS SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK PURSUANT TO SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW. 
 (b) ANY
LEGAL SUIT, ACTION OR PROCEEDING AGAINST LENDER OR GUARANTOR ARISING OUT OF OR RELATING TO THIS GUARANTY MAY, AT LENDER’S OPTION, BE INSTITUTED IN ANY FEDERAL OR STATE COURT IN THE CITY OF NEW YORK, COUNTY OF NEW YORK, PURSUANT TO
SECTION 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW, AND GUARANTOR WAIVES ANY OBJECTIONS WHICH IT MAY NOW OR HEREAFTER HAVE BASED ON VENUE AND/OR FORUM NON CONVENIENS OF ANY SUCH SUIT, ACTION OR PROCEEDING, AND GUARANTOR HEREBY IRREVOCABLY
SUBMITS TO THE EXCLUSIVE JURISDICTION OF ANY SUCH COURT IN ANY SUIT, ACTION OR PROCEEDING. GUARANTOR DOES HEREBY DESIGNATE AND APPOINT: 

  
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 C T CORPORATE SYSTEM 

111 EIGHTH AVENUE 
 NEW
YORK, NEW YORK 10011 
 AS ITS AUTHORIZED AGENT TO RECEIVE ON ITS BEHALF SERVICE OF ANY AND ALL PROCESS WHICH MAY BE SERVED IN ANY SUCH SUIT, ACTION
OR PROCEEDING IN ANY FEDERAL OR STATE COURT IN NEW YORK, NEW YORK, AND GUARANTOR AGREES THAT SERVICE OF PROCESS UPON SAID AGENT AT SAID ADDRESS AND WRITTEN NOTICE OF SAID SERVICE MAILED OR DELIVERED TO GUARANTOR IN THE MANNER PROVIDED HEREIN SHALL
BE DEEMED IN EVERY RESPECT EFFECTIVE SERVICE OF PROCESS UPON GUARANTOR IN ANY SUCH SUIT, ACTION OR PROCEEDING IN THE STATE OF NEW YORK. GUARANTOR (I) SHALL GIVE PROMPT NOTICE TO LENDER OF ANY CHANGED ADDRESS OF ITS AUTHORIZED AGENT HEREUNDER,
(II) MAY AT ANY TIME AND FROM TIME TO TIME DESIGNATE A SUBSTITUTE AUTHORIZED AGENT WITH AN OFFICE IN NEW YORK, NEW YORK (WHICH SUBSTITUTE AGENT AND OFFICE SHALL BE DESIGNATED AS THE PERSON AND ADDRESS FOR SERVICE OF PROCESS AND WHICH SUBSITUTE AGENT
SHALL BE THE SAME AGENT DESIGNATED BY BORROWER UNDER THE LOAN AGREEMENT), AND (III) SHALL PROMPTLY DESIGNATE SUCH A SUBSTITUTE IF ITS AUTHORIZED AGENT CEASES TO HAVE AN OFFICE IN NEW YORK, NEW YORK OR IS DISSOLVED WITHOUT LEAVING A SUCCESSOR.
NOTHING CONTAINED HEREIN SHALL AFFECT THE RIGHT OF LENDER TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR TO COMMENCE LEGAL PROCEEDINGS OR OTHERWISE PROCEED AGAINST GUARANTOR IN ANY OTHER JURISDICTION. 

5.4 Invalid Provisions. If any provision of this Guaranty is held to be illegal, invalid, or unenforceable under present or
future laws effective during the term of this Guaranty, such provision shall be fully severable and this Guaranty shall be construed and enforced as if such illegal, invalid or unenforceable provision had never comprised a part of this Guaranty, and
the remaining provisions of this Guaranty shall remain in full force and effect and shall not be affected by the illegal, invalid or unenforceable provision or by its severance from this Guaranty, unless such continued effectiveness of this
Guaranty, as modified, would be contrary to the basic understandings and intentions of the parties as expressed herein. 
 5.5
Amendments. This Guaranty may be amended only by an instrument in writing executed by an authorized representative of the Lender and the party against whom such amendment is sought to be enforced. 

5.6 Parties Bound; Assignment; Joint and Several. This Guaranty shall be binding upon and inure to the benefit of the parties
hereto and their respective successors, assigns and legal representatives; provided, however, that Guarantor may not, without the prior written consent of Lender, assign any of its rights, powers, duties or obligations hereunder. If Guarantor
consists of more than one person or party, the obligations and liabilities of each such person or party shall be joint and several. Lender has the right to sell, transfer, assign or otherwise dispose of its rights, obligations and/or interest in the
Loan and the Loan Documents, including, without limitation, this Guaranty, pursuant to Section 9.1 of the Loan Agreement. 

  
 -11- 

 5.7 Headings. Section headings are for convenience of reference only and shall in
no way affect the interpretation of this Guaranty. 
 5.8 Recitals. The recital and introductory paragraphs hereof are a part
hereof, form a basis for this Guaranty and shall be considered prima facie evidence of the facts and documents referred to therein. 

5.9 Counterparts. To facilitate execution, this Guaranty may be executed in as many counterparts as may be convenient or
required. It shall not be necessary that the signature of, or on behalf of, each party, or that the signature of all Persons required to bind any party, appear on each counterpart. All counterparts shall collectively constitute a single instrument.
It shall not be necessary in making proof of this Guaranty to produce or account for more than a single counterpart containing the respective signatures of, or on behalf of, each of the parties hereto. Any signature page to any counterpart may be
detached from such counterpart without impairing the legal effect of the signatures thereon and thereafter attached to another counterpart identical thereto except having attached to it additional signature pages. 

5.10 Rights and Remedies. If Guarantor becomes liable for any indebtedness owing by Borrower to Lender, by endorsement or
otherwise, other than under this Guaranty, such liability shall not be in any manner impaired or affected hereby and the rights of Lender hereunder shall be cumulative of any and all other rights that Lender may ever have against Guarantor. The
exercise by Lender of any right or remedy hereunder or under any other instrument, or at law or in equity, shall not preclude the concurrent or subsequent exercise of any other right or remedy. 

5.11 Other Defined Terms. Any capitalized term utilized herein shall have the meaning as specified in the Loan Agreement, unless
such term is otherwise specifically defined herein. 
 5.12 Entirety. EXCEPT AS SET FORTH IN SECTION 1.2 HEREOF AND
SECTION 9.4 OF THE LOAN AGREEMENT, THIS GUARANTY EMBODIES THE FINAL AND ENTIRE AGREEMENT OF GUARANTOR AND LENDER WITH RESPECT TO GUARANTOR’S GUARANTY OF THE GUARANTEED OBLIGATIONS AND SUPERSEDES ANY AND ALL PRIOR COMMITMENTS, AGREEMENTS,
REPRESENTATIONS, AND UNDERSTANDINGS, WHETHER WRITTEN OR ORAL, RELATING TO THE SUBJECT MATTER HEREOF. THIS GUARANTY IS INTENDED BY GUARANTOR AND LENDER AS A FINAL AND COMPLETE EXPRESSION OF THE TERMS OF THIS GUARANTY, AND NO COURSE OF DEALING BETWEEN
GUARANTOR AND LENDER, NO COURSE OF PERFORMANCE, NO TRADE PRACTICES, AND NO EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OR DISCUSSIONS OR OTHER EXTRINSIC EVIDENCE OF ANY NATURE SHALL BE USED TO CONTRADICT, VARY, SUPPLEMENT OR
MODIFY ANY TERM OF THIS GUARANTY AGREEMENT. THERE ARE NO ORAL AGREEMENTS BETWEEN GUARANTOR AND LENDER. 

  
 -12- 

 5.13 Waiver of Right To Trial By Jury. GUARANTOR HEREBY AGREES NOT TO ELECT A TRIAL BY
JURY OF ANY ISSUE TRIABLE OF RIGHT BY JURY, AND WAIVES ANY RIGHT TO TRIAL BY JURY FULLY TO THE EXTENT THAT ANY SUCH RIGHT SHALL NOW OR HEREAFTER EXIST WITH REGARD TO THIS GUARANTY, THE NOTE, THE LOAN AGREEMENT, THE MORTGAGE, OR THE OTHER LOAN
DOCUMENTS, OR ANY CLAIM, COUNTERCLAIM OR OTHER ACTION ARISING IN CONNECTION THEREWITH. THIS WAIVER OF RIGHT TO TRIAL BY JURY IS GIVEN KNOWINGLY AND VOLUNTARILY BY GUARANTOR, AND IS INTENDED TO ENCOMPASS INDIVIDUALLY EACH INSTANCE AND EACH ISSUE AS
TO WHICH THE RIGHT TO A TRIAL BY JURY WOULD OTHERWISE ACCRUE. LENDER IS HEREBY AUTHORIZED TO FILE A COPY OF THIS PARAGRAPH IN ANY PROCEEDING AS CONCLUSIVE EVIDENCE OF THIS WAIVER BY GUARANTOR. 

5.14 Reinstatement in Certain Circumstances. If at any time any payment of the principal of or interest under the Note or any
other amount payable by Borrower under the Loan Documents is rescinded or must be otherwise restored or returned upon the insolvency, bankruptcy or reorganization of Borrower or otherwise, the Guarantor’s obligations hereunder with respect to
such payment shall be reinstated as though such payment has been due but not made at such time. 
 [NO FURTHER TEXT ON THIS PAGE] 

  
 -13- 

 EXECUTED as of the day and year first above written. 

 

			
	GUARANTOR:
	
	CITY OFFICE REIT, INC.,
	a Maryland corporation
		
	 By:
	 	 /s/ James Farrar

		 	Name: James Farrar
		 	Title:   Chief Executive OfficerExhibit
 10.1

 

CONFIDENTIAL
TREATMENT REQUESTED

WITH
RESPECT TO CERTAIN PORTIONS HEREOF

DENOTED
WITH “***”

 

FIRST
AMENDED AND RESTATED EXCLUSIVE SUPPLY AGREEMENT

 

This
First Amended and Restated Exclusive Supply Agreement (“Agreement”) is hereby made effective on this 18th day of July,
2014 (“Effective Date”), between Myos Corporation, a Nevada Corporation, having an address of
Cedar Knolls, NJ 07927 (hereinafter “Customer”) and DIL Technologie GmbH, a German
Company having a business address at Prof.-von-Klitzing-Str. 7, D – 49610 Quakenbrück, Germany (“Manufacturer”),
and is intended to amend and replace the Exclusive Supply Agreement entered into between the Parties on June 24, 2013 in its entirety.

 

WHEREAS,
the Parties agree as follows:

 

	 	1.	WORK

 

	 		Manufacturer
    agrees to use its best efforts to perform the work (hereinafter “Work”) pursuant to ongoing and regular supply
    terms discussed and agreed upon between the Parties, as initially determined herein. The Parties agree Work shall mean the
    procurement of fertilized chicken egg yolk, via a process and form as defined in Exhibit A (the “Product”).

 

	 		From
    time to time, as requested by Customer, Manufacturer may further process, blend or otherwise modify the Product either directly,
    or through a third party. In particular, Customer may request, and Manufacturer shall produce, the Product in a blended form
    such as the blended form defined in Exhibit B (the “Blended Product”). The Parties shall work together in good
    faith in the event any other forms of Product are requested.

 

	 	2.	REQUIREMENTS
    FOR PURCHASING

  

	 	 	2.1	Ongoing
    and Regular Order Commitments

 

		 	The
    Parties agree that an ongoing and regular supply order will yield the most cost effective pricing and supply efficiency. As
    such, the Parties agree the Manufacturer will manufacture a set quantity of the Product on a monthly basis, and have such
    Product available for shipment upon completion thereof.

 

	 	2.1.1        Remainder
    of [***]

 

		From
    the Effective Date of this Agreement, through [***], the Parties agree approximately [***] kg of Product shall
    be manufactured and delivered to Customer, with approximately even amounts shipped monthly (i.e., approx. [***]
    kg/month). 

 

	 	2.1.2         Calendar
    Years [***]

 

		For
    each of calendar years [***], the Parties agree to a minimum of [***] kg of Product shall be manufactured and
    delivered to Customer, with approximately even amounts shipped monthly (i.e., approx. [***] kg/month). 

 

    	 

    	 

    

 

CONFIDENTIAL
TREATMENT REQUESTED

WITH
RESPECT TO CERTAIN PORTIONS HEREOF

DENOTED
WITH “***”

 

	 	 	2.2	Modifications
    to Quantity or Form of Product. 

 

		In
    the event the Customer requests an increase in the quantity of Product, the Customer must make such request in writing or
    via electronic mail, and the Manufacturer shall notify the Customer of the approximate lead time, not to exceed three months,
    necessary to implement such a change. The Parties agree to work together in good faith to implement any necessary changes
    in the order quantity as expeditiously and cost effectively as possible. The Parties acknowledge and agree Manufacturer’s
    current maximum capacity for manufacturing the Product for Customer is approximately [***] kg/month, and upon request
    and reasonable notice, Manufacturer can increase capacity to such amounts. 

 

	 	 	2.3	Exclusivity

  

		During
    the Term of this Agreement, the Parties agree Manufacturer shall only manufacture, develop or produce Product for Customer
    or for Customer’s commercial benefit, if specifically authorized by Customer. However, nothing herein shall preclude
    Manufacturer from using Product for non-commercial purposes to further its own research advancements.

 

	 	3.	SHIPMENTS

  

		All
    Products delivered pursuant to the terms of this Agreement shall be suitably packed for shipment in accordance with industry
    standards in sealed containers/bags, marked for shipment to Customer’s requested destination, and delivered to a carrier
    or forwarding agent, as determined by Customer. Shipment will be F.O.B at Manufacturer, or Manufacturer’s designated
    facility, and all freight, insurance, and other shipping expenses, as well as any special packing expenses not included in
    the original price quotation for the Products will be paid by Customer.

 

	 	4.	cGMP
    COMPLIANCE, CERTIFICATE OF ANALYSIS AND WARRANTIES

 

	 		4.1	cGMP
    Compliance

 

		Manufacturer
    agrees that all Products made hereunder shall be manufactured in accordance with cGMP Compliance standards. In particular,
    Manufacturer agrees to comply with cGMP batch record keeping standard as set forth by German Good Manufacturing Practice standards
    for foodstuffs. The Parties agree the resulting Product or Blended Product shall also be in specific compliance with the standards
    set forth in Exhibits C and D, respectively.

 

	 	 	4.2	Certificate
    of Analysis

 

		Manufacturer
    agrees to perform the necessary testing and analysis for each batch of Product or Blended Product manufactured and provide
    Customer with a Certificate of Analysis therewith. Such Certificate of Analysis for each batch shall include test results
    for various parameters listed in Exhibits C and D. Such Certificate of Analysis shall be signed and certified by a qualified
    employee of Manufacturer.

 

    	2

    	 

    

 

CONFIDENTIAL
TREATMENT REQUESTED

WITH
RESPECT TO CERTAIN PORTIONS HEREOF

DENOTED
WITH “***”

 

	 	 	4.3	Certificate
    of Veterinarian

  

		Manufacturer
    agrees to obtain the necessary certifications from a licensed German veterinarian for each batch of Product or Blended Product
    manufactured for purposes of exporting the Product from the European Union. Customer shall notify Manufacturer of the requisite
    certification standards pertaining to the importation of egg-based products from the European Union into the United States.

  

	 	 	4.4	Express
    Warranty

 

		(a)	Manufacturer
                                                                                                                        warrants
                                                                                                                        that the
                                                                                                                        Product
                                                                                                                        or the
                                                                                                                        Blended
                                                                                                                        Product
                                                                                                                        will conform
                                                                                                                        to all
                                                                                                                        applicable
                                                                                                                        product
                                                                                                                        specifications
                                                                                                                        as set
                                                                                                                        forth
                                                                                                                        herein
                                                                                                                        and will
                                                                                                                        be free
                                                                                                                        from contamination,
                                                                                                                        i.e.,
                                                                                                                        under
                                                                                                                        the threshold
                                                                                                                        limits
                                                                                                                        established
                                                                                                                        in Exhibit
                                                                                                                        C and
                                                                                                                        Exhibit
                                                                                                                        D.
                                                                                                                        

 

		(b)	Upon
                                                                                                                        any failure
                                                                                                                        of a Product
                                                                                                                        or Blended
                                                                                                                        Product
                                                                                                                        to comply
                                                                                                                        with any
                                                                                                                        and all
                                                                                                                        applicable
                                                                                                                        warranties,
                                                                                                                        the Manufacturer
                                                                                                                        shall
                                                                                                                        promptly
                                                                                                                        replace
                                                                                                                        such quantity
                                                                                                                        of Product
                                                                                                                        or Blended
                                                                                                                        Product
                                                                                                                        at no
                                                                                                                        additional
                                                                                                                        cost,
                                                                                                                        within
                                                                                                                        thirty
                                                                                                                        (60) days
                                                                                                                        of written
                                                                                                                        notification
                                                                                                                        of such
                                                                                                                        failure.

 

		(c)	The
                                                                                                                        warranties
                                                                                                                        outlined
                                                                                                                        in this
                                                                                                                        Agreement
                                                                                                                        are for
                                                                                                                        the benefit
                                                                                                                        of Customer
                                                                                                                        only and
                                                                                                                        are not
                                                                                                                        assignable.

 

	 	5.	PAYMENT
                                                                                 TERMS, PRODUCT PRICING & CASH UPON SIGNING

 

	 	 	5.1	Payment
    Terms

  

		In
    consideration for the consistency in Product delivery, and discount in pricing, Customer shall pay for Product in accordance
    with the following schedule (within 5 business days of the dates set forth herein):

 

	 	The Effective Date of this Agreement:  	[***] kg
	 	August 1, 2014:	[***] kg
	 	September 1, 2014:	[***] kg
	 	October 1, 2014:	[***] kg
	 	January 1, 2015:	[***] kg
	 	April 1, 2015:	[***] kg
	 	July 1, 2015:	[***] kg
	 	October 1, 2015:	[***] kg
	 	January 1, 2016:	[***] kg
	 	April 1, 2016:	[***] kg
	 	July 1, 2016:	[***] kg
	 	October 1, 2016:	[***] kg

  

	 	 	5.2	Product
    Pricing

 

		For
    the period between the Effective Date and [***], the Parties agree the price per kilogram of Product shall be [***]
    Euros ([***]€). For the period between [***], the Parties agree the price per kilogram of Product shall
    not exceed [***] Euros ([***]€). Manufacturer shall use its best efforts to reduce such price through cost
    savings with its vendors, which it shall pass through to Customer. 

 

		In
    the event Manufacturer is delivering Blended Product to Customer, as set forth herein, the Parties agree the price per kilogram
    of Blended Product shall be [***] Euros and [***] cents ([***]€) for the period between the Effective
    Date and [***]. For the period between [***] and [***], the Parties agree the price per kilogram of Blended
    Product shall not exceed [***] Euros and [***] cents ([***]€). Manufacturer shall use its best efforts
    to reduce such price through cost savings with its vendors, which it shall pass through to Customer.

 

    	3

    	 

    

 

CONFIDENTIAL TREATMENT REQUESTED

WITH
RESPECT TO CERTAIN PORTIONS HEREOF

DENOTED
WITH “***”

 

	 	 	5.3	True-Up
    at Each Payment

 

		The
    Parties agree and acknowledge that commencing with the August 1, 2014 payment, the Parties shall “true-up” any
    outstanding overpayment/underpayment for Product actually delivered since the previous payment, at the rate applicable at
    the time of the advance. For example, if payment is made for [***] kg on the Effective Date hereof, and as of August
    1, 2014, only [***] kg of Product are manufactured and delivered according to the terms hereunder, Customer shall have
    a credit of [***] kg @ [***]€/kg to be applied to the August 1, 2014 payment. In another example, if Customer
    receives [***] kg of Product between the Effective Date and [***], Customer shall pay for the additional [***]
    kg @ [***]€/kg, plus the advance for the following period. 

 

	 	 	5.4	Resolution
    of all Outstanding Balances

 

		Any
    outstanding balance owed by Customer to Manufacturer as of the Effective Date shall be paid in full by Customer within 10
    business days of the Effective Date hereof.

 

	 	6.	IP
    ASSIGNMENT & ROYALTIES

 

	 	 	6.1	Assignment
    of U.S. Patent Application

 

		Upon
    execution of this Agreement, Manufacturer shall assign and hereby does assign United States Patent Application Serial No.
    13/765,340 (the “U.S. Application”) to Customer, including all related rights associated therewith. Manufacturer
    shall execute the recordable assignment document (“Assignment”) for recordation at the United States Patent and
    Trademark Office (“USPTO”) , as set forth in Exhibit E, at the time of execution of this Agreement, so that the
    Parties may avoid the need to file this Agreement in its entirety with the USPTO. Manufacturer will execute any additional
    documents reasonably required to perfect such assignment recordations as well.

 

	 	 	6.2	Royalty
    Payment

 

		Upon
    expiration of the Term of this Agreement, for a period of [***] years thereafter (“Royalty Term”), to the
    extent Customer manufactures a product in the United States using a method protected by either the patent to issue from the
    U.S. Application (hereinafter “Patented Method”), Manufacturer shall be entitled to a royalty payment from Customer
    in the amount of [***] dollars ($[***] USD) per kilogram of Product produced by Customer during the Royalty
    Term in the United States. 

 

		In
    the event Customer manufactures a muscle health product using dried fertilized egg yolk in either the United States, using
    a method not covered by any of the Patented Methods, Manufacturer shall be entitled to a royalty payment from Customer in
    the amount of [***] ($[***] USD) per kilogram of Product produced by Customer during the Royalty Term. 

 

    	4

    	 

    

  

CONFIDENTIAL
TREATMENT REQUESTED

WITH
RESPECT TO CERTAIN PORTIONS HEREOF

DENOTED
WITH “***”

 

	 	 		6.2.1        Minimum
    Guaranteed Royalty

 

		In
    consideration for assignment of the U.S. Application herein, Customer shall commit to a total guaranteed minimum royalty payment
    to Manufacturer of [***] dollars ($[***] USD). In the event the royalty payment, based on the terms above, falls
    short of the guaranteed minimum amount, Customer shall pay the difference between the guaranteed minimum amount, and any actual
    amount paid, within thirty (30) days from the end of the Royalty Term. 

 

	 	 		6.2.2         Maximum
    Royalty

 

		During
    the Royalty Term, the Parties agree the maximum royalty amount Customer shall pay in consideration for assignment of the U.S.
    Application herein shall be [***] dollars ($[***] USD). For sake of clarity, over the course of the Royalty
    Term, in the event Customer pays royalties to Manufacturer under this Section 6 in the amount of [***] dollars ($[***]
    USD), no further royalties shall be due to Manufacturer for any purpose whatsoever. 

 

	 	 	6.3	Right
    of First Refusal to EU Patent Rights

 

		Manufacturer
    is the owner of European Patent No. 12171561 (the “EP Patent”), which covers substantially similar subject matter
    as the U.S. Application, and as of the Effective Date, is valid in several European jurisdictions. The Parties agree, in the
    event a third party expresses bona fide interest in EU Patent (i.e., either to license or acquire the EU Patent)
    and Manufacturer agrees in principal to the same, at any time during the validity of the EU Patent, Manufacturer shall notify
    Customer of the same in writing, and shall offer Customer a right of first refusal to any potential transaction involving
    the EU Patent. Customer shall have one hundred twenty (120) days from the receipt of the written notice to review, analyze,
    and consider accepting its right of first refusal to such terms for the EU Patent. Manufacturer agrees any assignment or licensing
    of rights to the EU Patent to any third party, without following the right of first refusal terms herein, shall render such
    assignment or license null and void.

 

	 	7.	TERM
    AND TERMINATION

 

	 	 	7.1	Term

 

		The
    term of this Agreement shall commence on the Effective Date, and shall continue through December 31, 2016. Upon request from
    Customer, this Agreement may be renewed for subsequent one year terms indefinitely unless terminated by either party giving
    thirty (90) days written notice prior to the expiration of any renewal term.

 

	 	 	7.2	Termination

 

		This
    Agreement may only be terminated by either party for cause upon written notice to the other party of a material breach hereof,
    or upon written agreement of the Parties. Upon receipt of such notification, the breaching party shall be permitted Sixty
    (60) days to cure any such breach. If after such sixty (60) days period the breaching party has not cured such breach, then
    the non-breaching party may terminate this Agreement immediately upon sending written notification of the same to the breaching
    party. Termination of this Agreement shall not affect the obligations of either Party that exist as of the date of termination.

 

    	5

    	 

    

 

CONFIDENTIAL
TREATMENT REQUESTED

WITH
RESPECT TO CERTAIN PORTIONS HEREOF

DENOTED
WITH “***”

 

	 	8.	LIMITATIONS
    OF LIABILITY

 

	 	 	8.1	Patents,
    Copyrights, Trade Secrets, Other Proprietary Rights

 

		Each
    Party (“Indemnifying Party”) shall defend, indemnify, and hold harmless the other Party (“Indemnified Party”)
    from all claims, costs, damages, judgments, and attorney’s fees resulting from or arising out of any alleged and/or
    actual infringement or other violation of intellectual property rights in connection with the performance by the Indemnifying
    Party of its obligations under this Agreement (“Intellectual Property Rights”). The Indemnified Party shall promptly
    notify the Indemnifying Party in writing of the initiation of any such claims. In the event of any litigation, suit or other
    proceedings relating to or concerning such Intellectual Property Rights, the Indemnified Party shall permit
    the Indemnifying Party to assume the defense thereof, and cooperate with the Indemnifying Party with respect to such defense.
    If the Indemnifying Party elects not to assume the defense, the Indemnified Party shall have the right to seek, and have the
    Indemnifying Party pay for separate counsel representing the interests of Indemnified Party. Further, any and all settlements
    regarding such Intellectual Property Rights shall be approved in writing by an authorized representative of Indemnified Party.

 

		THE
    FOREGOING STATES THE ENTIRE LIABILITY OF THE PARTIES TO EACH OTHER CONCERNING INFRINGEMENT OF INTELLECTUAL PROPERTY RIGHTS.

 

	 	 	8.2	No
    Other Liability

 

		INDEPENDENT
    OF OR UNDER THE EXPRESS WARRANTIES CREATED UNDER THIS AGREEMENT, IN NO EVENT SHALL EITHER PARTY BE LIABLE TO THE OTHER PARTY
    FOR ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL, OR PUNITIVE DAMAGES OF ANY KIND OR NATURE ARISING OUT OF THIS AGREEMENT
    OR THE SALE OF PRODUCTS, WHETHER SUCH LIABILITY IS ASSERTED ON THE BASIS OF CONTRACT, TORT (INCLUDING THE POSSIBILITY OF NEGLIGENCE,
    INTENTIONAL MISCONDUCT OR STRICT LIABILITY), OR OTHERWISE, EVEN IF THE ONE PARTY HAS BEEN WARNED OF THE POSSIBILITY OF ANY
    SUCH LOSS OR DAMAGE, AND EVEN IF ANY OF THE LIMITED REMEDIES IN THIS AGREEMENT FAIL OF THEIR ESSENTIAL PURPOSE, IT BEING ACKNOWLEDGED
    BY THE PARTIES THAT THIS LIMITATION OF LIABILITY IS ESSENTIAL CONSIDERATION FOR ENTERING INTO AND PERFORMANCE OF THIS AGREEMENT.
    

 

	 	 	8.3	Customer
    Responsible for U.S. Liability

 

		Notwithstanding
    any of the above paragraphs, and for the avoidance of doubt, with the exception of willful or intentional acts or gross misconduct
    of Manufacturer, Customer shall be responsible for any liability occurring within the United States, arising from Manufacturer’s
    manufacture of Products in accordance with the terms of this Agreement.

 

	 	9.	RESEARCH
    AND DEVELOPMENT COLLABORATION

 

		The
    Parties agree the Research and Development Services Agreement, entered into between the Parties on September 20, 2013, shall
    remain in full force and effect for the duration of the term thereof, including all amendments formally made in writing and
    executed by both Parties.

  

    	6

    	 

    

 

CONFIDENTIAL
TREATMENT REQUESTED

WITH
RESPECT TO CERTAIN PORTIONS HEREOF

DENOTED
WITH “***”

 

	 	10.	MISCELLANEOUS

 

	 	 	10.1	Entire
    Agreement

 

		This
    Agreement constitutes the entire agreement between the parties with respect to the transactions contemplated hereby and supersedes
    all prior agreements and understandings between the parties relating to such transactions, unless such prior agreements are
    expressly identified herein as remaining in full force and effect. Each Party shall hold the existence and terms of this Agreement
    confidential, unless it obtains the other Party’s express written consent otherwise, provided that Manufacturer may
    use Customer’s name as a reference unless otherwise instructed in writing by Customer.

 

	 	 	10.2	Amendments

 

		This
    Agreement may be amended only by a writing executed by authorized representatives of both parties.

  

	 	 	10.3	Independent
    Contractor

 

		Neither
    party shall, for any purpose, be deemed to be an agent of the other party nor shall the relationship between the parties only
    be that of independent contractors. Neither party shall have any right or authority to assume or create any obligations or
    to make any representations or warranties on behalf of any other party, whether express or implied, or to bind the other party
    in any respect whatsoever.

 

	 	 	10.4	Expenses

 

		In
    the event a dispute between the parties hereunder with respect to this Agreement must be resolved by litigation or other proceeding
    or a party must engage an attorney to enforce its right hereunder, the prevailing party shall be entitled to receive reimbursement
    for all associated reasonable costs and expenses (including, without limitation, attorney’s fees) from the other party.

 

	 	 	10.5	Governing
    Law

 

		This
    Agreement shall be governed by and construed under the laws of the United Kingdom.

 

	 	 	10.6	Assignment

 

		(a)	Neither
                                                                                                                        party
                                                                                                                        shall
                                                                                                                        assign
                                                                                                                        or transfer
                                                                                                                        this Agreement,
                                                                                                                        except
                                                                                                                        as expressly
                                                                                                                        provided
                                                                                                                        herein,
                                                                                                                        without
                                                                                                                        the prior
                                                                                                                        written
                                                                                                                        consent
                                                                                                                        of the
                                                                                                                        other
                                                                                                                        party;
                                                                                                                        provided,
                                                                                                                        however,
                                                                                                                        that a
                                                                                                                        Party
                                                                                                                        may transfer
                                                                                                                        or assign
                                                                                                                        its rights
                                                                                                                        and obligations
                                                                                                                        under
                                                                                                                        this Agreement
                                                                                                                        in connection
                                                                                                                        with a
                                                                                                                        merger,
                                                                                                                        reorganization,
                                                                                                                        consolidation
                                                                                                                        or sale
                                                                                                                        of all
                                                                                                                        or substantially
                                                                                                                        all of
                                                                                                                        its assets.

 

		(b)	This
                                                                                                                        Agreement
                                                                                                                        shall
                                                                                                                        be binding
                                                                                                                        upon and
                                                                                                                        inure
                                                                                                                        to the
                                                                                                                        benefit
                                                                                                                        of the
                                                                                                                        parties’
                                                                                                                        successors
                                                                                                                        and assigns
                                                                                                                        as permitted
                                                                                                                        herein.

 

    	7

    	 

    

 

CONFIDENTIAL TREATMENT REQUESTED

WITH
RESPECT TO CERTAIN PORTIONS HEREOF

DENOTED
WITH “***”

 

	 	 	10.7	Customer’s
    Confidential Information

 

		The
    Parties agree the Mutual Non-Disclosure Agreement executed between them prior to the date hereof, shall be incorporated herein
    as if written in full herein.

 

	 	 	10.8	Notice

 

		Any
    notice or other communication required or permitted hereunder shall, unless otherwise provided herein, be made in writing
    and shall be delivered personally or sent by an overnight delivery or courier service, by certified or registered mail (postage
    prepaid), by telegraph, by telex, by facsimile transmission, or by email to the address first specified in this Agreement
    or to such other address as either party may designate. Such notice or other communication shall be deemed given when so delivered
    personally, telegraphed, telexed or sent by facsimile transmission, or, if sent by overnight delivery or courier service,
    the day after sent, or if mailed, (3) days after the date of deposit in the mails.

 

	 	 	10.9	Other

 

		If
    any term or provision of the Agreement is declared to be invalid or unenforceable, it shall be deemed to be omitted or modified
    to the extent necessary to render it valid or enforceable, and the remainder of this Agreement shall continue in full force
    and effect. Failure of either party to enforce any provision hereof shall not be construed as a waiver thereof or prevent
    enforcement on any other occasion or of any other provisions. Headings are for reference only; and the use of the singular
    and plural number shall each be deemed to include the other as indicated by the context. All provisions in this Agreement
    which by their language, nature or context are intended to survive, such as without limitation, payment limitation of liability
    and indemnification provisions, shall survive any termination of this Agreement.

 

	 	 	10.10	FORCE
    MAJEURE

 

		In
    the event that either party is prevented from performing or is unable to perform any of its obligations under this Agreement
    (other than a payment obligation) due to any Act of God, fire, casualty, flood, earthquake, war, strike, lockout, epidemic,
    destruction of production facilities, riot, insurrection, material unavailability, electricity or other utility or telecommunication
    outage or suspension of services, or any other cause beyond the reasonable control of the party (or its selected vendors,
    affiliates, or the like) invoking this section, and if such party shall have used its best efforts to mitigate its effects,
    such party shall give prompt written notice to the other party, its performance shall be excused, and the time for the performance
    shall be extended for the period of delay or inability to perform due to such occurrences. Regardless of the excuse of Force
    Majeure, if such party is not able to perform within forty-five (45) days after such event, the other party may terminate
    this Agreement.

 

    	8

    	 

    

 

CONFIDENTIAL TREATMENT REQUESTED

WITH
RESPECT TO CERTAIN PORTIONS HEREOF

DENOTED
WITH “***” 

 

ACCEPTED AND AGREED TO:

 

	FOR
    MYOS CORPORATION	 	FOR
    D.I.L.:
	 	 	 	 	 
	By:  	/s/
    Peter Levy	 	By:  	/s/
    Volker Heinz 
	Printed
    Name: Peter Levy	 	Printed
    Name: Volker Heinz
	Title:
    President	 	Title:
    CEO

 

9

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