Document:

Exhibit 10.8

PRIVATE UNITS PURCHASE AGREEMENT

 

THIS PRIVATE UNITS
PURCHASE AGREEMENT, dated as of [_____], 2016 (as it may from time to time be amended and including all exhibits referenced herein,
this “Agreement”), is entered into by and between Jensyn Acquisition Corp., a Delaware corporation (the “Company”),
and Jensyn Capital, LLC, a Delaware limited liability company (the “Purchaser”).

 

The Company intends
to consummate an initial public offering (the “Public Offering”) of the Company’s units (the “Public Units”),
each Public Unit consisting of one share of the Company’s common stock, par value $0.0001 per share (a “Share”),
one right to receive one-tenth (1/10) of a Share automatically on the consummation of an initial business combination and one warrant
(a “Public Warrant”). Each Public Warrant entitles the holder thereof to purchase one-half of one Share. The Company
will not issue fractional Shares. As a result, holders of Public Warrants must exercise Public Warrants in multiples of two Public
Warrants, at a price of $11.50 per full Share, subject to adjustment as described in the prospectus associated with the Public
Offering, to validly exercise Public Warrants. The Purchaser has agreed to purchase an aggregate of 213,400 units (or 243,400 units
if the underwriters’ over-allotment option in connection with the Public Offering is exercised in full) (the “Private
Units”), each Private Unit consisting of one share of the Company’s common stock (a “Private Share”), one
right to receive one-tenth (1/10) of a Share automatically on the consummation of an initial business combination (a “Private
Right”) and one warrant (a “Private Warrant” and, together with the Private Units, Private Shares, Private Rights
and the Shares underlying the Private Warrants and Private Rights, the “Securities”). The Private Units are identical
to the Public Units, except that the Private Units may not be transferred, assigned or sold (except to certain permitted transferees,
provided the transferees agree to certain terms and restrictions, as described herein) until the completion of the Company’s
initial business combination. On the Closing Date, the Purchase Price (as defined below) for the Private Units will be deposited
in the trust account that will hold the proceeds of the Public Offering (the “Trust Account”).

 

NOW THEREFORE, in consideration
of the mutual promises contained in this Agreement and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties to this Agreement hereby, intending legally to be bound, agree as follows:  

 

AGREEMENT

 

Section 1. Authorization,
Purchase and Sale; Terms of the Private Units.

 

A. Authorization
of the Private Units. The Company has duly authorized the issuance and sale of the Private Units to the Purchaser.

 

B. Purchase and
Sale of the Private Units. On the date that the Public Offering is consummated or at such earlier time and date as may be mutually
agreed by the Purchaser and the Company (the “Closing Date”), the Company shall issue and sell to the Purchaser, and
the Purchaser shall purchase from the Company, the Private Units at a price of $10.00 per unit for an aggregate purchase price
of $______ (or $______ if the underwriters’ over-allotment option in connection with the Public Offering is exercised
in full) (the “Purchase Price”), which shall be paid by wire transfer of immediately available funds to Continental
Stock Transfer & Trust Company, acting as escrow agent in connection with the sale of the Private Units, at least 24 hours
prior to the effective date of the registration statement relating to the Public Offering, to hold in a non-interest bearing account
until the Public Offering is consummated. On the Closing Date, upon the deposit of the Purchase Price into the Trust Account by
Continental Stock Transfer & Trust Company, the Company shall deliver a certificate evidencing the Private Units duly registered
in the Purchaser’s name to the Purchaser.

 

C. Terms of the
Private Units.

 

(i) Each Private Unit
shall consist of one Private Share, one Private Right and one Private Warrant.

 

(ii) Each Private Warrant
shall have the terms set forth in a Warrant Agreement to be entered into by the Company and a warrant agent, in connection with
the Public Offering (the “Warrant Agreement”).

 

     

     

    

 

(iii) At the time of
the closing of the Public Offering, the Company and the Purchaser shall enter into a registration rights agreement (the “Registration
Rights Agreement”) pursuant to which the Company will grant certain registration rights to the Purchaser relating to the
Securities.

 

D. Restrictions
on Transfer. During the period commencing on the date of the closing of the Public Offering and ending on the date on which
the Company’ completes an initial business combination, the only permitted transfers of the Securities will be (i) to the
Company’s officers, directors, advisors and employees, (ii) as a distribution to partners, members or stockholders of the
Purchaser upon the liquidation and dissolution of the Purchaser, (iii) by bona fide gift to a member of the Purchaser’s immediate
family or to a trust, the beneficiary of which is the Purchaser or a member of the Purchaser’s immediate family for estate
planning purposes, (iv) by virtue of the laws of descent and distribution upon death of the Purchaser, (v) pursuant to a qualified
domestic relations order, (vi) by private sales at prices no greater than the price at which the Private Units were originally
purchased or (vii) to the Company for cancellation in connection with the consummation of the Company’s initial business
combination, in each case, except for clause (vii), on the condition that such transfers may be implemented only upon the respective
transferee’s written agreement to be bound by the terms and conditions of this Agreement and of the letter agreement between
the Purchaser and the Company signed by the Purchaser in connection with the Public Offering.

 

Section 2. Representations
and Warranties of the Company. As a material inducement to the Purchaser to enter into this Agreement and purchase the Private
Units, the Company hereby represents and warrants to the Purchaser (which representations and warranties shall survive the Closing
Date) that:

 

A. Organization
and Corporate Power. The Company is a corporation duly organized, validly existing and in good standing under the laws of the
State of Delaware and is qualified to do business in every jurisdiction in which the failure to so qualify would reasonably be
expected to have a material adverse effect on the financial condition, operating results or assets of the Company. The Company
possesses all requisite corporate power and authority necessary to carry out the transactions contemplated by this Agreement and
the Warrant Agreement.

 

B. Authorization;
No Breach.

 

(i) The execution,
delivery and performance of this Agreement and the Securities have been duly authorized by the Company as of the Closing Date.
This Agreement constitutes the valid and binding obligation of the Company, enforceable in accordance with its terms. Upon issuance
in accordance with, and payment pursuant to, the terms of the Warrant Agreement and this Agreement, the Securities will constitute
valid and binding obligations of the Company, enforceable in accordance with their terms as of the Closing Date.

 

(ii) The execution
and delivery by the Company of this Agreement and the Securities, the issuance and sale of the Securities and the fulfillment of
and compliance with the respective terms hereof and thereof by the Company, do not and will not as of the Closing Date (a) conflict
with or result in a breach of the terms, conditions or provisions of, (b) constitute a default under, (c) result in the creation
of any lien, security interest, charge or encumbrance upon the Company’s capital stock or assets under, (d) result in a violation
of, or (e) require any authorization, consent, approval, exemption or other action by or notice or declaration to, or filing with,
any court or administrative or governmental body or agency pursuant to the Certificate of Incorporation of the Company or the Bylaws
of the Company (in effect on the date hereof or as may be amended or adopted prior to completion of the contemplated Public Offering),
or any material law, statute, rule or regulation to which the Company is subject, or any agreement, order, judgment or decree to
which the Company is subject, except for any filings required after the date hereof under federal or state securities laws.

 

C. Title to Securities.
Upon issuance in accordance with, and payment pursuant to, the terms hereof and the Warrant Agreement, the Securities will be duly
and validly issued, fully paid and nonassessable. Upon issuance in accordance with, and payment pursuant to, the terms hereof and
the Warrant Agreement, the Purchaser will have good title to the Securities, free and clear of all liens, claims and encumbrances
of any kind, other than (i) transfer restrictions hereunder and under the other agreements contemplated hereby, (ii) transfer restrictions
under federal and state securities laws, and (iii) liens, claims or encumbrances imposed due to the actions of the Purchaser.

 

    2 

     

    

 

D. Regulation D
Qualification. Neither the Company nor, to its knowledge, any of its affiliates, members, officers, directors or beneficial
shareholders of 20% or more of its outstanding securities, has experienced a disqualifying event as enumerated pursuant to Rule
506(d) of Regulation D under the Securities Act of 1933, as amended (the “Securities Act”).

 

E. Governmental
Consents. No permit, consent, approval or authorization of, or declaration to or filing with, any governmental authority is
required in connection with the execution, delivery and performance by the Company of this Agreement or the consummation by the
Company of any other transactions contemplated hereby.

 

Section 3. Representations
and Warranties of the Purchaser. As a material inducement to the Company to enter into this Agreement and issue and sell the
Private Units to the Purchaser, the Purchaser hereby represents and warrants to the Company (which representations and warranties
shall survive the Closing Date) that:

 

A. Organization
and Requisite Authority. The Purchaser possesses all requisite power and authority necessary to carry out the transactions
contemplated by this Agreement.

 

B. Authorization;
No Breach.

 

(i) This Agreement
constitutes a valid and binding obligation of the Purchaser, enforceable in accordance with its terms, subject to bankruptcy, insolvency,
fraudulent conveyance, reorganization, moratorium and other laws of general applicability relating to or affecting creditors’
rights and to general equitable principles (whether considered in a proceeding in equity or law).

 

(ii) The execution
and delivery by the Purchaser of this Agreement and the fulfillment of and compliance with the terms hereof by the Purchaser does
not and shall not as of the Closing Date conflict with or result in a breach by the Purchaser of the terms, conditions or provisions
of any agreement, instrument, order, judgment or decree to which the Purchaser is subject.

 

C. Investment Representations.

 

(i) The Purchaser is
acquiring the Securities for the Purchaser’s own account, for investment purposes only and not with a view towards, or for
resale in connection with, any public sale or distribution thereof.

 

(ii) The Purchaser
is an “accredited investor” as such term is defined in Rule 501(a) of Regulation D under the Securities Act, and the
Purchaser has not experienced a disqualifying event as enumerated pursuant to Rule 506(d) of Regulation D under the Securities
Act.

 

(iii) The Purchaser
understands that the Securities are being offered and will be sold to it in reliance on specific exemptions from the registration
requirements of the United States federal and state securities laws and that the Company is relying upon the truth and accuracy
of, and the Purchaser’s compliance with, the representations and warranties of the Purchaser set forth herein in order to
determine the availability of such exemptions and the eligibility of the Purchaser to acquire such Securities.

 

(iv) The Purchaser
did not decide to enter into this Agreement as a result of any general solicitation or general advertising within the meaning of
Rule 502(c) under the Securities Act.

 

(v) The Purchaser has
been furnished with all materials relating to the business, finances and operations of the Company and materials relating to the
offer and sale of the Securities which have been requested by the Purchaser. The Purchaser has been afforded the opportunity to
ask questions of the executive officers and directors of the Company. The Purchaser understands that its investment in the Securities
involves a high degree of risk and it has sought such accounting, legal and tax advice as it has considered necessary to make an
informed investment decision with respect to the acquisition of the Securities.

 

(vi) The Purchaser
understands that no United States federal or state agency or any other government or governmental agency has passed on or made
any recommendation or endorsement of the Securities or the fairness or suitability of the investment in the Securities by the Purchaser
nor have such authorities passed upon or endorsed the merits of the offering of the Securities.

 

    3 

     

    

 

(vii) The Purchaser
understands that: (a) the Securities have not been and are not being registered under the Securities Act or any state securities
laws, and may not be offered for sale, sold, assigned or transferred unless (1) subsequently registered thereunder or (2) sold
in reliance on an exemption therefrom; and (b) except as specifically set forth in the Registration Rights Agreement, neither the
Company nor any other person is under any obligation to register the Securities under the Securities Act or any state securities
laws or to comply with the terms and conditions of any exemption thereunder. In this regard, the Purchaser understands that the
Securities and Exchange Commission (the “SEC”) has taken the position that promoters or affiliates of a blank check
company and their transferees, both before and after a business combination, are deemed to be “underwriters” under
the Securities Act when reselling the securities of a blank check company. Based on that position, Rule 144 adopted pursuant to
the Securities Act would not be available for resale transactions of the Securities, despite technical compliance with the requirements
of such Rule, and the Securities can be resold only through a registered offering or in reliance upon another exemption from the
registration requirements of the Securities Act.

 

(viii) The Purchaser
has such knowledge and experience in financial and business matters, knows of the high degree of risk associated with investments
in the securities of companies in the development stage such as the Company, is capable of evaluating the merits and risks of an
investment in the Securities and is able to bear the economic risk of an investment in the Securities in the amount contemplated
hereunder for an indefinite period of time. The Purchaser has adequate means of providing for its current financial needs and contingencies
and will have no current or anticipated future needs for liquidity which would be jeopardized by the investment in the Securities.
The Purchaser can afford a complete loss of its investment in the Securities.

 

Section 4. Conditions
of the Purchaser’s Obligations. The obligation of the Purchaser to purchase and pay for the Private Units is subject
to the fulfillment, on or before the Closing Date, of each of the following conditions:

 

A. Representations
and Warranties. The representations and warranties of the Company contained in Section 2 shall be true and correct at and as
of the Closing Date as though then made.

 

B. Performance.
The Company shall have performed and complied with all agreements, obligations and conditions contained in this Agreement that
are required to be performed or complied with by it on or before the Closing Date.

 

C. No Injunction.
No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated
or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory organization having authority
over the matters contemplated hereby, which prohibits the consummation of any of the transactions contemplated by this Agreement
or the Warrant Agreement.

 

Section 5. Conditions
of the Company’s Obligations. The obligations of the Company to the Purchaser under this Agreement are subject to the
fulfillment, on or before the Closing Date, of each of the following conditions:

 

A. Representations
and Warranties. The representations and warranties of the Purchaser contained in Section 3 shall be true and correct at and
as of the Closing Date as though then made.

 

B. Performance.
The Purchaser shall have performed and complied with all agreements, obligations and conditions contained in this Agreement that
are required to be performed or complied with by the Purchaser on or before the Closing Date.

 

C. Corporate Consents.
The Company shall have obtained the consent of its Board of Directors authorizing the execution, delivery and performance of this
Agreement and the Warrant Agreement and the issuance and sale of the Private Units.

 

    4 

     

    

 

D. No Injunction.
No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated
or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory organization having authority
over the matters contemplated hereby, which prohibits the consummation of any of the transactions contemplated by this Agreement
or the Warrant Agreement.

 

E. Warrant Agreement.
The Company shall have entered into a Warrant Agreement with a warrant agent on terms satisfactory to the Purchaser.

 

Section 6. Termination.
This Agreement may be terminated at any time after ____________ upon the election by either the Company or the Purchaser upon written
notice to the other party if the closing of the Public Offering does not occur prior to such date.

 

Section 7. Survival
of Representations and Warranties. All of the representations and warranties contained herein shall survive the Closing Date.

 

Section 8. Definitions.
Terms used but not otherwise defined in this Agreement shall have the meaning assigned to such terms in the Registration Statement
on Form S-1 (File No. 333-195695) that the Company filed with the SEC on May 5, 2015, as amended.

 

Section 9. Miscellaneous.

 

A. Successors and
Assigns. Except as otherwise expressly provided herein, all covenants and agreements contained in this Agreement by or on behalf
of any of the parties hereto shall bind and inure to the benefit of the respective successors of the parties hereto whether so
expressed or not. Notwithstanding the foregoing or anything to the contrary herein, the parties may not assign this Agreement,
other than assignments by the Purchaser to affiliates thereof (including, without limitation, one or more of its members).

 

B. Severability.
Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Agreement is held to be prohibited by or invalid under applicable law, such provision shall be
ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of this Agreement.

 

C. Counterparts.
This Agreement may be executed simultaneously in two or more counterparts, none of which need contain the signatures of more than
one party, but all such counterparts taken together shall constitute one and the same agreement.

 

D. Descriptive Headings;
Interpretation. The descriptive headings of this Agreement are inserted for convenience only and do not constitute a substantive
part of this Agreement. The use of the word “including” in this Agreement shall be by way of example rather than by
limitation.

 

E. Governing Law.
This Agreement shall be deemed to be a contract made under the laws of the State of Delaware and for all purposes shall be construed
in accordance with the internal laws of the State of Delaware.

 

F. Amendments.
This Agreement may not be amended, modified or waived as to any particular provision, except by a written instrument executed by
all parties hereto.

 

[Signature page follows]

 

    5 

     

    

 

IN WITNESS WHEREOF,
the parties hereto have executed this Agreement to be effective as of the date first set forth above.

 

	 	COMPANY:
	 	 	 
	 	Jensyn Acquisition CORP.
	 	 	 
	 	By: 	 
	 	Name: Jeffrey J. Raymond
	 	Title: President and Chief Executive Officer
	 	 	 
	 	PURCHASER:
	 	 	 
	 	[Name]
	 	 	 
	 	By:	 
	 	Name: 
	 	Title: 

 

[Signature Page to Private Units Purchase
Agreement]

 

    6EX-10.1

 Exhibit 10.1 
  

 
  

ADMINISTRATIVE SERVICES AGREEMENT 

dated as of February 1, 2016 

among 
 CITY OFFICE MANAGEMENT
LTD., 
 SECOND CITY CAPITAL II CORPORATION, 

and 
 SECOND CITY REAL ESTATE II
CORPORATION 
  
  

 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
		
	 ARTICLE I DEFINITIONS
	  	 	3	  
			
		  	 Section 1.01 Certain Defined Terms
	  	 	3	  
		
	 ARTICLE II SERVICES AND DURATION
	  	 	7	  
			
		  	 Section 2.01 Services
	  	 	7	  
			
		  	 Section 2.02 Personnel
	  	 	8	  
		
	 ARTICLE III OTHER ARRANGEMENTS AND ADDITIONAL AGREEMENTS
	  	 	9	  
			
		  	 Section 3.01 Cooperation
	  	 	9	  
			
		  	 Section 3.02 Limited Service Following Term
	  	 	9	  
		
	 ARTICLE IV FEES, TAXES
	  	 	9	  
			
		  	 Section 4.01 Fees
	  	 	9	  
			
		  	 Section 4.02 Taxes
	  	 	9	  
			
		  	 Section 4.03 No Right to Set-Off
	  	 	9	  
		
	 ARTICLE V STANDARD FOR SERVICE
	  	 	10	  
			
		  	 Section 5.01 Standard for Service
	  	 	10	  
			
		  	 Section 5.02 Compliance with Laws and Regulations
	  	 	10	  
		
	 ARTICLE VI LIMITATION OF LIABILITY AND INDEMNIFICATION
	  	 	10	  
		
	 ARTICLE VII TERM AND TERMINATION
	  	 	11	  
			
		  	 Section 7.01 Term and Termination
	  	 	11	  
		
	 ARTICLE VIII OTHER ACTIVITIES
	  	 	11	  
		
	 ARTICLE IX GENERAL PROVISIONS
	  	 	11	  
			
		  	 Section 9.01 Subcontractors
	  	 	11	  
			
		  	 Section 9.02 Treatment of Confidential Information
	  	 	12	  
			
		  	 Section 9.03 Further Assurances
	  	 	13	  
			
		  	 Section 9.04 Notices
	  	 	13	  
			
		  	 Section 9.05 Severability
	  	 	14	  
			
		  	 Section 9.06 Entire Agreement
	  	 	14	  
			
		  	 Section 9.07 No Third-Party Beneficiaries
	  	 	15	  
			
		  	 Section 9.08 Governing Law
	  	 	15	  
			
		  	 Section 9.09 Amendment
	  	 	15	  
			
		  	 Section 9.10 Rules of Construction
	  	 	15	  
			
		  	 Section 9.11 Counterparts
	  	 	15	  
			
		  	 Section 9.12 Assignability
	  	 	16	  
			
		  	 Section 9.13 Waiver of Jury Trial
	  	 	16	  
			
		  	 Section 9.14 Successors and Assigns
	  	 	16	  

  
 i 

 ADMINISTRATIVE SERVICES AGREEMENT 

This Administrative Services Agreement (this “Agreement”), dated as of February 1, 2016, is by and among, City Office
Management Ltd., a British Columbia limited company formerly known as CIO Management Buyer Ltd. (“Buyer”), Second City Capital II Corporation, a British Columbia corporation (“SCCC”), and Second City Real Estate II
Corporation, a British Columbia corporation, (together with SCCC, “Second City”). Second City and Buyer are collectively referred to herein as the “Parties.” 

RECITALS 
 WHEREAS,
that certain Stock Purchase Agreement, dated as of November 2, 2015 (the “Stock Purchase Agreement”), among the shareholders of JTF CIO Holdco Corporation, a British Columbia corporation (“JTF Holdco”), listed
on Schedule A thereto (the “JTF Shareholders”), the shareholders of Tylee Holdings Inc., a British Columbia corporation (“Tylee Holdco”), listed on Schedule B thereto (the “Tylee Shareholders”),
Gibralt Capital Corporation, a British Columbia corporation (“Gibralt”), Buyer, City Office REIT, Inc., a Maryland corporation and the parent company of CIO (“Parent”), James Farrar, Anthony Maretic and Gregory
Tylee provides for a transaction in which (i) CIO will purchase from the JTF Shareholders, and the JTF Shareholders will sell to CIO, all of the JTF Shares, (ii) CIO will purchase from the Tylee Shareholders, and the Tylee Shareholders
will sell to Buyer, all of the Tylee Shares, and (iii) CIO will purchase from Gibralt and Anthony Maretic, and Gibralt and Anthony Maretic will sell to CIO, all of the shares of capital stock of City Office Real Estate Management, Inc., a
Canada Business Corporations Act corporation (the “Advisor”), owned by Gibralt and Anthony Maretic, in return for the Purchase Price (as defined therein), including the Earnout (as defined therein) effective February 1, 2016;

 WHEREAS, the Parties’ execution of this Agreement is a condition to the closing of the Purchase described and defined in the Stock
Purchase Agreement; 
 WHEREAS, Second City desires to retain Buyer to provide certain administrative services on the terms and conditions
hereinafter set forth; and 
 WHEREAS, immediately upon the closing of the Purchase described and defined in the Stock Purchase Agreement,
Buyer will amalgamate with City Office REIT Management Inc., JTF Holdco and Tylee Holdco to become a British Columbia unlimited liability company, which will be liable for the obligations of Buyer, including under this Agreement. 

NOW, THEREFORE, in consideration of the foregoing and the mutual agreements contained in this Agreement, the Parties hereby agree as follows:

 ARTICLE I 

DEFINITIONS 

Section 1.01 Certain Defined Terms. The following capitalized terms used in this Agreement shall have the meanings set forth
below: 

  
 3 

 “Advisor” means City Office Real Estate Management, Inc., a Canada Business
Corporations Act corporation. 
 “Advisory Agreement” means that certain advisory agreement, dated as of April 21,
2014, by and among the REIT, the OP and the Advisor, as amended. 
 “Affiliate” means (i) any Person directly, or
indirectly controlling, controlled by, or under common control with such other Person, (ii) any executive officer or general partner of such other Person, (iii) any member of the board of directors or board of managers (or bodies
performing similar functions) of such Person, and (iv) any legal entity for which such Person acts as an executive officer or general partner. 

“Bankruptcy” means, with respect to any Person, (a) the filing by such Person of a voluntary petition seeking
liquidation, reorganization, arrangement or readjustment, in any form, of its debts under the United States Bankruptcy Code, the Canadian Bankruptcy and Insolvency Act, or any other United States or Canadian federal, state or foreign insolvency law
(“Bankruptcy Law”), or such Person’s filing an answer consenting to or acquiescing to an involuntary petition, (b) the making by such Person of any assignment for the benefit of its creditors, (c) the expiration of 60
days after the filing of an involuntary petition under Bankruptcy Law, an application for the appointment of a receiver for a material portion of the assets of such Person, or an involuntary petition seeking liquidation, reorganization, arrangement
or readjustment of its debts under any other federal, state or foreign insolvency law, provided that the same shall not have been vacated, set aside or stayed within such 60-day period or (d) the entry against it of a final and non-appealable
order for relief under any bankruptcy, insolvency or similar law now or hereinafter in effect. 
 “Board of Directors”
means the Board of Directors of the REIT. 
 “Business Day” means any day, except a Saturday, a Sunday or a day on which
banking institutions in New York, New York are not required to be open. 
 “Code” means the Internal Revenue Code of 1986,
as amended. 
 “Change of Control” means the direct or indirect acquisition by any Person, or group of Persons, acting
jointly or in concert, of voting control or direction over more than 50% of the votes attaching, collectively, to the outstanding voting shares of the REIT. 

“Commencement Date” means the date of commencement of services pursuant to the terms of this Agreement, which date shall be
the same as the Internalization Date. 
 “Common Stock” means shares of the REIT’s common stock, par value $0.01 per
share. 
 “Default” means (a) an Event of Default or (b) any event or condition which with notice or lapse of
time or both would, unless cured or waived, become an Event of Default. 
 “Exchange Act” means the Securities Exchange Act
of 1934, as amended. 

  
 4 

 “Fair Market Value” as of any date, means with respect to one share of Common
Stock, Preferred Stock or one Partnership Common Unit, as the case may be, the value determined as follows: 
 (i) If the Common or Preferred
Stock is then listed on a National Securities Exchange (as such term is used in Section 6(a) of the Exchange Act), the closing sales price per share on such exchange for the last preceding date on which there was a sale of such shares on such
exchange; 
 (ii) If the Common Stock or Preferred Stock is not then listed on a national securities exchange but is then traded on an
over-the-counter market, the average of the closing bid and asked prices for the shares in such over-the-counter market for the last preceding date on which there was a sale of such shares on such market; 

(iii) If neither (i) nor (ii) applies, such value as the Board of Directors in its discretion may in good faith determine; and 

(iv) Partnership Common Units shall have a Fair Market Value per Partnership Common Unit equal to the Fair Market Value of one share of Common
Stock. 
 “Fully-Diluted Market Capitalization” means 

(i) the Fair Market Value of one share of Common Stock multiplied by the number of shares of Common Stock issued and outstanding; plus 

(ii) the Fair Market Value of one share of Common Stock multiplied by the maximum number of shares of Common Stock issuable pursuant to any
outstanding Options or Convertible Securities that are (1) held by any Person other than the REIT or a Subsidiary and (2) In-the-Money; minus the aggregate consideration payable to the REIT upon the exercise, conversion and/or exchange of
such Options or Convertible Securities; plus 
 (iii) the Fair Market Value of one share of Preferred Stock multiplied by the number of
shares of such Preferred Stock issued and outstanding and held by any Person other than the REIT or a Subsidiary; plus 
 (iv) the Fair
Market Value of one share of Preferred Stock multiplied by the maximum number of shares of such Preferred Stock issuable pursuant to any outstanding Preferred Options or Preferred Convertible Securities that are (1) held by any Person other
than the REIT or a Subsidiary and (2) In-the-Money; minus the aggregate consideration payable to the REIT upon the exercise, conversion and/or exchange of such Preferred Options or Preferred Convertible Securities; plus 

(v) the Fair Market Value of one Partnership Common Unit multiplied by the number of Partnership Common Units issued and outstanding; plus 

(vi) the Fair Market Value of one unit of any other Partnership Unit multiplied by the number of such Partnership Units outstanding held by any
Person other than the REIT or a Subsidiary of the REIT. 

  
 5 

 “General Partner” means the general partner of any Second City Investment
Vehicles. 
 “Governing Instruments” means, with regard to any entity, the articles or certificate of incorporation and
bylaws in the case of a corporation, certificate of limited partnership (if applicable) and the partnership agreement in the case of a general or limited partnership, the articles or certificate of formation and the operating agreement in the case
of a limited liability company, the trust instrument in the case of a trust, or similar governing documents, in each case as amended, restated or supplemented from time to time. 

“Independent Directors” means the members of the Board of Directors who are not officers or employees of the REIT or any of
its Affiliates, and who are otherwise determined by the Board of Directors to be “independent” in accordance with the REIT’s Governing Instruments and policies and, if applicable, the rules of any national securities exchange on which
the Common Stock or any Preferred Stock is listed. 
 “Internalization Date” means the date of closing of the transactions
contemplated by the Stock Purchase Agreement. 
 “In-the-Money” means with respect to any security exercisable, convertible
into, exchangeable or redeemable for another security, that the amount of consideration payable upon such exercise, conversion or exchange is less than the Fair Market Value of the security to be received upon such exercise, conversion, exchange or
redemption. 
 “OP” means City Office REIT Operating Partnership, L.P. 

“Option” shall mean any right, option or warrant to subscribe for, purchase or otherwise acquire Common Stock or Convertible
Securities. 
 “Partnership Common Unit” has the meaning set forth in the Amended and Restated Agreement of Limited
Partnership of the OP, as may be further amended or restated from time to time. 
 “Partnership Unit” has the meaning set
forth in the Amended and Restated Agreement of Limited Partnership of the OP, as may be further amended or restated from time to time. 

“Person” means any individual, corporation, partnership, joint venture, limited liability company, estate, trust,
unincorporated association, any federal, state, county or municipal government or any bureau, department or agency thereof and any fiduciary acting in such capacity on behalf of any of the foregoing. 

“Preferred Stock” shall mean any share of the capital stock of the REIT designated as preferred stock. 

“Property” or “Properties” means any real property which is owned or leased, directly or indirectly, by the
REIT or any Subsidiary. 

  
 6 

 “REIT” means City Office REIT, Inc., a Maryland corporation and a “real
estate investment trust” as defined under the Code. 
 “Second City Investment Vehicles” means the following entities
for which Second City provides management services: Second City Capital Partners II, Limited Partnership, Second City Real Estate II, Limited Partnership, SC Principals Limited Partnership, and Revesco (USA) Second City Properties of Denver, LP.

 “Securities Act” means the Securities Act of 1933, as amended. 

“Subsidiary” means any subsidiary of the REIT; any partnership, the general partner of which is the REIT or any subsidiary of
the REIT; any limited liability company, the managing member of which is the REIT or any subsidiary of the REIT; and any corporation or other entity of which a majority of (i) the voting power of the voting equity securities or (ii) the
outstanding equity or other beneficial interests is owned, directly or indirectly, by the REIT. 
 ARTICLE II 

SERVICES AND DURATION 

Section 2.01 Services. Subject to the terms and conditions of this Agreement, beginning on the Commencement Date and continuing
during the Term (as defined in Article VII), Buyer shall provide (or cause to be provided) to Second City, as requested from time to time by Second City, the services listed below (the “Services”): 

 

	 	(i)	administrative record-keeping services and assistance with the preparation of accounting statements with respect to properties owned by funds advised by or managed by Second City; 

 

	 	(ii)	assisting with potential acquisitions, dispositions and financings; 

  

	 	(iii)	administering such day-to-day operations of the Second City Investment Vehicles as may be agreed upon by Buyer and Second City, including the collection of revenues and payment of debts and obligations on behalf of
Second City and the Second City Investment Vehicles, at Second City’s cost and expense; 

  

	 	(iv)	obtaining, upon Second City’s request and at Second City’s expense, reports and statistical and economic research for the Second City Investment Vehicles; 

 

	 	(v)	assisting, upon Second City’s request and at Second City’s expense, the Second City Investment Vehicles in qualifying to do business in jurisdictions determined by the General Partners; 

 

	 	(vi)	assisting in business plans and monitoring the Second City Investment Vehicles’ financial performance; 

  
 7 

	 	(vii)	providing assistance with respect to regulatory compliance, risk management policies and any litigation matters; 

  

	 	(viii)	providing guidance to the managers of the properties owned by Second City Investment Vehicles with regards to operating expenses, lease negotiation terms and capital expenditures; 

 

	 	(ix)	assisting with third-party communications; and 

  

	 	(ix)	providing any additional services as may from time-to-time be agreed to in writing by Buyer and Second City for which Buyer will be compensated on terms to be agreed upon between Buyer (with the approval of the
Independent Directors) and Second City prior to the provision of such services. 

 Buyer’s provision of services at all
times shall be subject to the supervision of Second City and Buyer shall only perform such functions and with such authority as Second City or the General Partners of the Second City Investment Vehicles may specifically delegate to it, including the
functions and authority identified herein and delegated to Buyer hereby. Notwithstanding anything in this Agreement or otherwise, Second City, and not Buyer, will be responsible for the preparation of all financial statements and the preparation and
filing of all tax returns. Second City will formally approve any and all budgets, schedules, acquisitions or dispositions, distributions to investors, financing or similar activities for which Buyer provides assistance or services hereunder. In
addition, certain persons who will become employees and executive officers of the REIT or a subsidiary of the REIT on the Internalization Date are also employees or principals of Second City and the Parties agree that any and all decisions,
consents, approvals or other activities or actions by such persons in approving, adopting or taking any actions with respect to budgets, financial statements, acquisition or disposition activities, capital raising, investor relations or similar
activities with respect to Second City shall be in their capacity as principal or employee of Second City and not in their capacity as an officer, director or employee of Buyer, the REIT or any of their Affiliates and Buyer and its Affiliates shall
have no liability or obligation to Second City or to any third party with respect thereto. 
 Section 2.02 Personnel.
(a) Buyer will make available such appropriately qualified personnel as it deems appropriate to provide the Services, including James Farrar and Gregory Tylee. In addition, Buyer will permit Messrs. Farrar and Tylee to perform their duties as
officers of the General Partners. Buyer, in its sole reasonable discretion, may (i) designate the personnel to perform the Services, so long as such personnel will at all times be under the direct supervision of either Messrs. Farrar or Tylee,
and (ii) remove and replace such personnel at any time with personnel of similar qualifications and experience levels, if such action would not reasonably be expected to cause a material decrease in the level of Services. 

(b) In the event that the provision of any Services by Buyer requires the cooperation and services of the personnel of Second City or its
lawyers, accountants or advisors, Second City will make available to Buyer, at Second City’s sole cost and expense, such personnel, who shall be appropriately qualified for purposes of the provision of such Service by Buyer, as may be necessary
to enable Buyer to provide such Services. 

  
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 ARTICLE III 

OTHER ARRANGEMENTS AND ADDITIONAL AGREEMENTS 

Section 3.01 Cooperation. The Parties will cooperate, acting in good faith and using commercially reasonable efforts, to effect a
smooth and orderly implementation of this Agreement; provided, however, that this Section 3.01 shall not require Buyer to incur any out-of-pocket costs or expenses unless and except as expressly provided in this Agreement
or otherwise agreed to in writing by Buyer. 
 Section 3.02 Service Following Term. In addition to the activities permitted by
Article VIII, following expiration of the Term, Buyer agrees that James Farrar and Gregory Tylee may provide reasonable assistance to the Second City Investment Vehicles with respect to properties, but not in the establishment of new Second
City funds or investments in new Second City properties and only to the extent that such assistance does not interfere with their respective employment obligations to the REIT or a Subsidiary, as determined by the Independent Directors. Any such
assistance shall be for the sole benefit of Second City and shall be performed only as requested by Second City from time to time. Any such activities will be undertaken by Messrs. Farrar and Tylee in their individual capacities as principals of
Second City or the Second City Investment Vehicles and not as an officer, director, employee or agent of Buyer, the REIT or their Affiliates and Buyer, the REIT, and their Affiliates shall have no liability or obligation to Second City or any third
party for any such activities. 
 ARTICLE IV 

FEES, TAXES 

Section 4.01 Fees. The fees payable by Second City to Buyer for the Services under this Agreement (“Fees”) shall
be the annual amounts set forth below, payable in four equal quarterly installments, commencing on the Commencement Date and continuing on the first day of each quarter thereafter: 

First 12 month period following the Commencement Date: $1,500,000 

Second 12 month period following the Commencement Date: $1,150,000 

Third 12 month period following the Commencement Date: $625,000 

Section 4.02 Taxes. Without limiting any provisions of this Agreement, Second City shall pay any sales, use and other similar
taxes imposed on, or payable with respect to, any Services provided to it under this Agreement; provided, however, that Second City shall not pay, or be responsible for, any applicable income, franchise or gross receipts taxes imposed
on, or payable with respect to, the income derived by Buyer from providing the Services to Second City. 
 Section 4.03 No Right to
Set-Off. Second City shall pay the full Fee amount owed to Buyer pursuant to the terms of this Agreement and shall not set-off, counterclaim or otherwise withhold any Fee amount owed to Second City under this Agreement on account of any
obligation claimed or owed by Buyer to Second City that has not been finally adjudicated, settled or otherwise agreed upon by the Parties in writing. 

  
 9 

 ARTICLE V 

STANDARD FOR SERVICE 

Section 5.01 Standard for Service. Buyer agrees (i) to perform the Services in a commercially reasonable manner;
(ii) upon receipt of written notice from Second City identifying any outage, interruption or other failure of any Service, to respond to such outage, interruption or other failure of any Services in a commercially reasonable and prompt manner
(the Parties acknowledge that an outage, interruption or other failure of any Service shall not be deemed to be a breach of the provisions of this Section 5.01 so long as Buyer complies with this clause (ii)). 

Section 5.02 Compliance with Laws and Regulations. Each Party shall be responsible for its own compliance with any and all laws
applicable to it and its business. 
 ARTICLE VI 

LIMITATION OF LIABILITY AND INDEMNIFICATION 

Buyer, the REIT and their Affiliates assume no responsibility under this Agreement or otherwise other than to render the Services called for
under this Agreement and shall not be responsible for any action or inaction of Second City or their Affiliates whether in following or declining to follow any advice or recommendations of Buyer or otherwise. None of Buyer, the REIT, the OP, or any
of their respective officers, directors, members, employees, managers and personnel, any Person controlling or controlled by Buyer and any such Person’s directors, officers, stockholders, members, advisors, personnel and directors, and any
Person providing sub-advisory services to Buyer will be liable to Second City, the Second City Investment Vehicles or any subsidiary or Affiliate thereof, to the board of directors of any Second City entity, or to Second City’s or any Second
City Affiliate’s, including the Second City Investment Vehicles’, stockholders, investors, members, employees, partners, lenders or regulators for any acts or omissions by any such Person, pursuant to or in accordance with this Agreement
or otherwise. Second City and the Second City Investment Vehicles shall reimburse, indemnify and hold harmless Buyer, the REIT, the OP and any of their respective officers, stockholders, directors, members, employees and personnel, any Person
controlling or controlled by Buyer, the REIT or the OP (each, a “CIO Indemnified Party”), harmless of and from any and all expenses, losses, damages, liabilities, demands, charges and claims of any nature whatsoever (including, upon
request, reasonable attorneys’ fees) in respect of or arising from any acts or omissions of such CIO Indemnified Party performed in good faith hereunder. The provisions of this Article VI shall survive the expiration or earlier
termination of this Agreement. 

  
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 ARTICLE VII 

TERM AND TERMINATION 

Section 7.01 Term and Termination. 

(a) This Agreement shall be in effect, unless sooner terminated pursuant to this Article VII, until the third anniversary of the
Internationalization Date (the “Term”). 
 (b) Upon a Change of Control, each of Second City and Buyer shall have the right
to terminate this Agreement effective upon 30 days’ prior written notice of termination to the other Party; provided, however, that the election to terminate and notification thereof must be made within 90 days of such Change
of Control or the right to terminate under this Section 7.01(b) shall expire. 
 (c) Second City shall have the right to
terminate this Agreement at any time upon payment in full of all unpaid Fees payable to Buyer by Second City as described in Section 4.01; provided, however, that if Second City elects to terminate this Agreement upon a
Change of Control pursuant to Section 7.01(b), no additional Fees will be payable to Buyer following the termination. 

ARTICLE VIII 
 OTHER
ACTIVITIES 
 In addition to the Services, during the Term and upon written request of Second City to the Independent Directors, Buyer
agrees to permit James Farrar and Gregory Tylee to assist Second City in the formation of new real estate investment funds or single purpose acquisition vehicles sponsored by Second City and its affiliates. In such event, and as a condition of Buyer
permitting Messrs. Farrar and Tylee to be available for such activities, the Parties agree that Messrs. Farrar and Tylee will act only in their individual capacities as principals of Second City and not as officers, directors, employees or agents of
Buyer, the REIT or their Affiliates and Buyer, the REIT and their Affiliates shall not have any liability to any Person in connection with such activities and Second City agrees to indemnify Buyer, the REIT and their Affiliates in accordance with
Article VI of this Agreement in connection with any such activities (other than disclosing their respective titles at Buyer). Second City and Messrs. Farrar and Tylee shall not be permitted to utilize the name, logo or other information
regarding Buyer, the REIT or the OP in any such activities. At such time as the REIT has reached a Fully Diluted Market Capitalization of $1.0 billion, Buyer shall no longer be obligated to make available Mr. Farrar, Mr. Tylee or any other
employee of Buyer or the REIT for any such activities. 
 ARTICLE IX 

GENERAL PROVISIONS 

Section 9.01 Subcontractors. Subject to the approval of Second City, Buyer may hire or engage one or more subcontractors to
perform any or all of the Services; provided, that (i) Buyer shall use the same degree of care in selecting any such subcontractor as it would if 

  
 11 

 
such contractor were being retained to provide similar services to Buyer, (ii) Buyer shall in all cases remain primarily responsible for all of its obligations under this Agreement with
respect to the scope of the Services, the standard for Services as set forth in Article V and the Services provided to Second City, and (iii) any such subcontractor will be supervised by either Mr. Farrar or Mr. Tylee.
Notwithstanding the foregoing, (x) Second City and its Affiliates shall have the right to hire or engage any subcontractor directly and (y) if Buyer does hire or engage any subcontractor to provide any Services hereunder, then,
notwithstanding any provision of this Agreement to the contrary, the applicable service charge payable by Second City for the provision of such Service performed by such subcontractor shall be only the amount actually paid to such subcontractor for
providing such Service, without any additional charge or mark up. Second City shall be responsible for paying directly any accountants, lawyers, or other service providers performing services for Second City whether engaged by Second City or Buyer.

 Section 9.02 Treatment of Confidential Information. 

(a) The Parties shall not, and shall cause their respective Affiliates and all other Persons providing Services or having access to information
of the other Party that is known to such Party as confidential or proprietary (“Confidential Information”) not to, disclose to any other Person or use, except for purposes of this Agreement, any Confidential Information of the other
Party; provided, however, that each Party may disclose Confidential Information of the other Party and to the extent permitted by applicable law: (i) to its Affiliates on a need-to-know basis in connection with the performance of
such Party’s obligations under this Agreement; (ii) in any report, statement, testimony or other submission required to be made to any Governmental Authority having jurisdiction over the disclosing Party; or (iii) in order to comply
with applicable law, or in response to any summons, subpoena or other legal process or formal or informal investigative demand issued to the disclosing Party in the course of any litigation, investigation or administrative proceeding. In the event
that a Party becomes legally compelled (based on advice of counsel) by deposition, interrogatory, request for documents, subpoena, civil investigative demand or similar judicial or administrative process to disclose any Confidential Information of
the other Party, such disclosing Party shall provide the other Party with prompt prior written notice of such requirement, and, to the extent reasonably practicable, cooperate with the other Party (at such other Party’s expense) to obtain a
protective order or similar remedy to cause such Confidential Information not to be disclosed, including interposing all available objections thereto, such as objections based on settlement privilege. In the event that such protective order or other
similar remedy is not obtained, the disclosing Party shall furnish only that portion of the Confidential Information that has been legally compelled, and shall exercise its commercially reasonable efforts (at such other Party’s expense) to
obtain assurance that confidential treatment will be accorded such Confidential Information. 
 (b) Each Party shall, and shall cause its
Affiliates to protect the Confidential Information of the other Party by using the same degree of care to prevent the unauthorized disclosure of such as the Party uses to protect its own confidential information of a like nature but in any event not
less than reasonable means. 
 (c) Each Party shall cause its Affiliates to agree to be bound by the same restrictions on use and disclosure
of Confidential Information as are binding upon such Party in advance of the disclosure of any such Confidential Information to them. 

  
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 (d) Each Party shall comply with all applicable state, federal and foreign privacy and data
protection laws that are or that may in the future be applicable to the provision of Services under this Agreement. 
 Section 9.03
Further Assurances. Each Party covenants and agrees that, without any additional consideration, it shall execute and deliver any further legal instruments and perform any acts that are or may become necessary to effectuate this Agreement.

 Section 9.04 Notices. All notices, requests, claims, demands and other communications under this Agreement shall be in
writing and shall be given or made (and shall be deemed to have been duly given or made upon receipt) by delivery in person, by overnight courier service, by facsimile or electronic transmission with receipt confirmed (followed by delivery of an
original via overnight courier service) or by registered or certified mail (postage prepaid, return receipt requested) to the respective Parties at the following addresses (or at such other address for a Party as shall be specified in a notice given
in accordance with this Section 9.04): 
  

	 	(i)	if to Second City: 

 Second City Capital II Corporation 

1075 West Georgia Street, Suite 2600 

Vancouver, British Columbia V6E 3C9 

Canada 

Attention: Ryan Chan, Chief Financial Officer 

Facsimile: 604-661-4873 

and: 

Second City Real Estate II Corporation 

1075 West Georgia Street, 

Suite 2600 

Vancouver, British Columbia V6E 3C9 

Attention: Ryan Chan, Chief Financial Officer 

Facsimile: 604-661-4873 

  
 13 

 with a copy to: 

Bryan Cave LLP 

1700 Lincoln Street, Suite 4100 

Denver, CO 80203-4541 

Attention: Sean Odendahl 

Facsimile: 303-335-3767 
  

	 	(ii)	if to Buyer, OP or the REIT: 

 City Office REIT, Inc. 

1075 West Georgia Street, Suite 2600 

Vancouver, British Columbia V6E 3C9 

Canada 

Facsimile: 604-661-4873 

Attention: Chairman of the Board 

with a copy to: 

Hunton & Williams LLP 

951 E. Byrd Street 

Richmond, VA 23219 

Attention: David C. Wright 

Facsimile: 804-343-4580 

Section 9.05 Severability. If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced
under any law or as a matter of public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or legal substance of the transactions contemplated by this Agreement is
not affected in any manner materially adverse to any Party. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the Parties shall negotiate in good faith to modify this Agreement so as to
effect the original intent of the Parties as closely as possible in a mutually acceptable manner in order that the transactions contemplated by this Agreement be consummated as originally contemplated to the greatest extent possible. 

Section 9.06 Entire Agreement. Except as otherwise expressly provided in this Agreement, this Agreement constitutes the entire
agreement of the Parties with respect to the subject matter of this Agreement and supersede all prior agreements and undertakings, both written and oral, between or on behalf of the Parties with respect to the subject matter of this Agreement,
including any prior term sheets or letters of intent. Notwithstanding anything in this Agreement, this Agreement shall be subject to the Non-Competition and Non-Solicitation Agreements, each of even date herewith, among the REIT, the OP and its
Affiliates and the other parties thereto. 

  
 14 

 Section 9.07 No Third-Party Beneficiaries. Except as provided in Article VI
with respect to CIO Indemnified Parties, this Agreement is for the sole benefit of the Parties and their permitted successors and assigns and nothing in this Agreement, express or implied, is intended to or shall confer upon any other Person, any
legal or equitable right, benefit or remedy of any nature whatsoever under or by reason of this Agreement. 
 Section 9.08 Governing
Law. This Agreement (and any claims or disputes arising out of or related to this Agreement or to the transactions contemplated by this Agreement or to the inducement of any Party to enter into this Agreement or the transactions contemplated by
this Agreement, whether for breach of contract, tortious conduct or otherwise and whether predicated on common law, statute or otherwise) shall in all respects be governed by, and construed in accordance with, the laws of the State of New York,
including all matters of construction, validity and performance, in each case without reference to any conflict of law rules that might lead to the application of the laws of any other jurisdiction. 

Section 9.09 Amendment. No provision of this Agreement may be amended, supplemented or modified except by a written instrument
making specific reference to this Agreement signed by all the Parties. 
 Section 9.10 Rules of Construction. Interpretation of
this Agreement shall be governed by the following rules of construction: (a) words in the singular shall be held to include the plural and vice versa, and words of one gender shall be held to include the other gender as the context requires;
(b) references to the terms Article, Section and paragraph are references to the Articles, Sections and paragraphs of this Agreement unless otherwise specified; (c) references to “$” shall mean U.S. dollars; (d) the word
“including” and words of similar import when used in this Agreement shall mean “including without limitation,” unless otherwise specified; (e) the word “or” shall not be exclusive; (f) references to
“written” or “in writing” include in electronic form; (g) provisions shall apply, when appropriate, to successive events and transactions; (h) the headings contained in this Agreement are for reference purposes only and
shall not affect in any way the meaning or interpretation of this Agreement; (i) Second City and CIO have each participated in the negotiation and drafting of this Agreement and if an ambiguity or question of interpretation should arise, this
Agreement shall be construed as if drafted jointly by the Parties and no presumption or burden of proof shall arise favoring or burdening either Party by virtue of the authorship of any of the provisions in this Agreement or any interim drafts of
this Agreement; (j) a reference to any Person includes such Person’s successors and permitted assigns; (k) any reference to “days” means calendar days unless business days are expressly specified; and (l) when
calculating the period of time before which, within which or following which any act is to be done or step taken pursuant to this Agreement, the date that is the reference date in calculating such period shall be excluded, and if the last day of
such period is not a business day, the period shall end on the next succeeding business day. 
 Section 9.11 Counterparts. This
Agreement may be executed in one or more counterparts, and by each Party in separate counterparts, each of which when executed shall be deemed to be an original but all of which taken together shall constitute one and the same agreement. Delivery of
an executed counterpart of a signature page to this Agreement by facsimile or portable document format (.pdf) shall be as effective as delivery of a manually executed counterpart of this Agreement. 

  
 15 

 Section 9.12 Assignability. (a) This Agreement shall not be assigned by
operation of law or without the prior written consent of each of the Parties, except that Buyer may assign all of its rights and obligations under this Agreement to an Affiliate; provided, that no such assignment shall release Buyer from any
liability or obligation under this Agreement. 
 Section 9.13 Waiver of Jury Trial. EACH PARTY TO THIS AGREEMENT WAIVES TO THE
FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT TO ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT. EACH PARTY (I) CERTIFIES THAT NO
REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER; AND (II) ACKNOWLEDGES THAT IT AND THE OTHER PARTY TO
THIS AGREEMENT HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER TRANSACTION AGREEMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 9.13. 

Section 9.14 Successors and Assigns. This Agreement will inure to the benefit of and be binding upon the Parties and their
respective successors and permitted assigns. 
 [The remainder of this page is intentionally left blank.] 

  
 16 

 IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed on the date first
written above by their respective duly authorized officers. 
  

			
	 CITY OFFICE MANAGEMENT LTD.
 a
British Columbia limited company

		
	By:	 	/s/ Anthony Maretic
		 	 Name: Anthony Maretic
 Title: Secretary and
Treasurer

  

			
	 SECOND CITY CAPITAL II CORPORATION,

a British Columbia corporation

		
	By:	 	/s/ Ryan Chan
		 	 Name: Ryan Chan
 Title: Chief Financial
Officer and Secretary

  

			
	 SECOND CITY REAL ESTATE II CORPORATION,

a British Columbia corporation

		
	By:	 	/s/ James Farrar
		 	 Name: James Farrar
 Title: Managing
Director

 Signature Page to Administrative Services Agreement 

  
 17

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