Document:

EX-10.2

 Exhibit 10.2 

THIRD AMENDMENT TO 

ADVISORY AGREEMENT 
 This
THIRD AMENDMENT TO ADVISORY AGREEMENT (this “Third Amendment”) is made as of February 1, 2016 , by and among City Office REIT, Inc. a Maryland corporation (the “Company”), City Office REIT Operating Partnership, L.P., a
Maryland limited partnership of which the Company is the sole general partner (the “Operating Partnership”), and City Office Real Estate Management, Inc., a Canada Business Corporations Act corporation (the “Advisor,” and
together with the Company and the Operating Partnership, the “Parties”). 
 WHEREAS, the Parties entered into that certain
Advisory Agreement, dated as of April 21, 2014, as amended by the First Amendment to Advisory Agreement dated as of March 19, 2015, and as subsequently amended by that certain Second Amendment to Advisory Agreement, dated as of
November 2, 2015 (collectively, the “Advisory Agreement”), and now desire to further amend such Advisory Agreement pursuant to the terms hereof; 

WHEREAS, the Company and the shareholders of the Advisor have entered into that certain stock purchase agreement, dated as of November 2,
2015 (the “Stock Purchase Agreement”), pursuant to which the Company will acquire all of the outstanding stock of the Advisor on the terms set forth in the Stock Purchase Agreement; and 

WHEREAS, capitalized terms used in this Third Amendment and not otherwise defined shall have the meanings ascribed to them in the Advisory
Agreement. 
 NOW, THEREFORE, in consideration of the recitals herein and mutual covenants and agreements contained in the Stock Purchase
Agreement and other good and valuable consideration, the sufficiency of which is hereby acknowledged, the Parties hereto hereby covenant and agree as follows: 
  

	1.	 Section 20 is deleted in its entirety. 

 

	2.	 It is the intention and agreement of the Parties to release the Bound Parties from the restrictions set forth
in Section 20 of the Advisory Agreement effective as of the date of this Third Amendment and all references to Section 20 of the Advisory Agreement are hereby eliminated. 

 

	3.	 Except as specifically amended hereby, the Advisory Agreement shall remain in full force and effect.

  

	4.	 This Third Amendment, which may be executed in multiple counterparts, constitutes the entire agreement of the
Parties regarding the matters contained herein and shall not be modified by any prior oral or written discussions. 

  

	5.	 This Third Amendment shall be governed by and construed in accordance with the laws of the State of New York.

 IN WITNESS WHEREOF, the Parties hereto have executed this Third Amendment as of the date first written
above. 
  

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

		 	Name: James Farrar
		 	Title: Chief Executive Officer
	
	CITY OFFICE REIT OPERATING
	PARTNERSHIP, L.P., a Maryland limited
	partnership
		
	By:	 	City Office REIT, Inc.,
		 	its Sole General Partner
		
	By:	 	 /s/ James Farrar

		 	Name: James Farrar
		 	Title: Chief Executive Officer
	
	CITY OFFICE REAL ESTATE MANAGEMENT,
	INC. a Canada Business Corporations Act
	corporation
		
	By:	 	 /s/ Anthony Maretic

		 	Name: Anthony Maretic
		 	Title: Treasurer

 [Signature Page to the Third Amendment to Advisory Agreement] 

 
			
	SECOND CITY CAPITAL PARTNER II, LIMITED
	PARTNERSHIP,
	a Delaware limited partnership
		
	By:	 	Second City General Partner II, Limited
		 	Partnership, its Sole General Partner
		
	By:	 	Second City General Partner II, Inc., its Sole
		 	General Partner
		
	By:	 	 /s/ James Farrar

		 	Name: James Farrar
		 	Title: Vice President
	
	SECOND CITY GENERAL PARTNER II,
	LIMITED PARTNERSHIP,
	a Delaware limited partnership
		
	By:	 	Second City General Partner II, Inc.,
		 	its Sole General Partner
		
	By:	 	 /s/ James Farrar

		 	Name: James Farrar
		 	Title: Vice President
	
	CIO OP LIMITED PARTNERSHIP,
	a Delaware limited partnership
		
	By:	 	 /s/ James Farrar

		 	Name: James Farrar
		 	Title: Chief Executive Officer of City Office
		 	REIT, Inc.

 [Signature Page to the Third Amendment to Advisory Agreement] 

 
			
	CIO REIT STOCK LIMITED PARTNERSHIP,
	a Delaware limited partnership
		
	By:	 	 /s/ Ryan Chan

		 	Name: Ryan Chan
		 	Title: Chief Financial Officer
	
	GIBRALT US, INC.,
	a Colorado corporation
		
	By:	 	 /s/ Ryan Chan

		 	Name: Ryan Chan
		 	Title: Chief Financial Officer
	
	GCC AMBERGLEN INVESTMENTS LP,
	an Oregon limited partnership
		
	By:	 	GCC Oregon Amberglen LLC,
		 	its Sole General Partner
		
	By:	 	 /s/ Ryan Chan

		 	Name: Ryan Chan
		 	Title: Chief Financial Officer
	
	JAMES FARRAR,
	an individual
		
	By:	 	 /s/ James Farrar

	
	ANTHONY MARETIC,
	an individual
		
	By:	 	 /s/ Anthony Maretic

	
	GREGORY TYLEE,
	an individual
		
	By:	 	 /s/ Gregory Tylee

	
	SAMUEL BELZBERG,
	an individual
		
	By:	 	 /s/ Samuel Belzberg

 [Signature Page to the Third Amendment to Advisory Agreement]EX-10.3

 Exhibit 10.3 

TERMINATION AND MUTUAL RELEASE AGREEMENT 

THIS TERMINATION AND RELEASE AGREEMENT (the “Agreement”) is made and entered into as of the 1st of February, 2016, by and between by and between City Office Real Estate Management Inc., a British Columbia corporation (the “Advisor”) and Second City Capital II Corporation, a
British Columbia corporation (the “Administrator”). 
 BACKGROUND 

1. On April 21, 2014, the parties hereto entered into an Administration Agreement (the “Administration Agreement”),
pursuant to which the Advisor engaged the Administrator to provide certain services, including personnel, administrative services and resources, to the Advisor. 

2. On November 2, 2015, City Office REIT, Inc. (the “Company”) and a subsidiary (“Buyer Sub”) entered into a
Stock Purchase Agreement (“Stock Purchase Agreement”) with (i) certain stockholders of the Advisor, the external advisor to the Company under an Advisory Agreement dated April 21, 2014 among the Advisor, the Company and
City Office REIT Operating Partnership, L.P., the Company’s operating partnership, (the “Advisory Agreement”), and (ii) two personal holding companies that own stock of the Advisor, pursuant to which Buyer Sub will acquire
all directly and indirectly outstanding stock of the Advisor. Completion of the transaction will result in the Company transitioning from an externally managed company to an internally managed company (the “Transaction”). The
closing of the Transaction shall occur on the date hereof (the “Closing”). 
 3. Effective upon the Closing of the
Transaction, the parties hereto desire to terminate the Administration Agreement, and desire to set forth herein their mutual agreements regarding such matters. 

AGREEMENT 
 NOW THEREFORE,
in consideration of the aforementioned recitals and the mutual promises and covenants herein contained, as well as other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as
follows: 
 1. Recitals. The parties hereby acknowledge and agree that the aforementioned recitals are true and correct. Capitalized
terms which are not defined herein shall have the meanings set forth in the Administration Agreement. 
 2. Termination of Administration
Agreement. The Company and Advisor hereby agree that, subject to and effective upon the Closing of the Transaction and without of further action by the Company or Advisor, the Administration Agreement will terminate. 

 3. Mutual Release. Subject to and effective upon the Closing of the Transaction, each
party hereto, on behalf of itself and its respective current and former shareholders, officers, directors, employees, agents, representatives, affiliates, subsidiaries, attorneys, successors and assigns, releases the other party, and its current,
former and future shareholders, officers, directors, employees, agents, representatives, affiliates, subsidiaries, attorneys, successors and assigns, of and from any and all claims, demands, obligations, actions, liabilities, defenses or damages of
every kind and nature whatsoever, in law or in equity, whether known or unknown, based upon the terms of the Administration Agreement or upon Administrator’s status as an agent of the Advisor or otherwise. 

4. Waiver or Modification. No waiver or modification of this Agreement or of any covenant, condition or limitation herein contained
shall be valid unless in writing and duly executed by the party to be charged therewith. Furthermore, no evidence of any waiver or modification shall be offered or received in evidence in any proceeding, arbitration or litigation between the parties
arising out of or affecting this Agreement, or the rights or obligations of any party hereunder, unless such waiver or modification is in writing and duly executed as aforesaid. The provisions of this Section may not be waived except as herein set
forth. 
 5. Successors. Subject to the provisions contained herein, this Agreement shall be binding upon and inure to the benefit of
the successors, assigns and legal representatives of the parties hereto. 
 6. Governing Law; Venue. The laws of the State of New York
shall govern the enforceability and validity of this Agreement, the construction of its terms and the interpretation of the rights and duties of the parties. 

7. Amendments, Changes and Modifications. This Agreement may be amended, changed, modified, or altered only in a writing specifically
stating that it is an amendment to the Agreement and signed by the parties hereto. 
 8. Severability. If any term or provision of
this Agreement or the application thereof to any person or circumstance shall, to any extent, be invalid or unenforceable, the remainder of this Agreement or the application of such term or provision to persons or circumstances other than those as
to which it is held invalid and unenforceable, shall not be affected thereby, and each term and provision of this Agreement shall be valid and be enforceable to the fullest extent permitted by law. 

9. Counterparts. To facilitate the execution of this Agreement by geographically separated parties, it may be executed in two or more
counterparts, all of which shall constitute one and the same instrument. The execution by one party of any counterpart shall be sufficient execution by that party whether or not the same counterpart has been executed by any other party. This
Agreement shall become effective when each party has signed at least one counterpart. All execution copies transmitted via either facsimile or email shall be treated as originals for all purposes. 

 Signed as of the day first written above with the intent to be legally bound. 

 

			
	CITY OFFICE REAL ESTATE MANAGEMENT INC.
		
	By:	 	 /s/ Anthony Maretic

		 	Name: Anthony Maretic
		 	Title: Vice President
	
	SECOND CITY CAPITAL II CORPORATION
		
	By:	 	 /s/ Ryan Chan

		 	Name: Ryan Chan
		 	Title: Chief Financial Officer

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