On November 13, 2017, VEREIT Operating Partnership, L.P. (the ‘Operating Partnership’), the operating partnership of VEREIT, Inc. (‘VEREIT’ and together with the Operating Partnership, the ‘company’), entered into a purchase and sale agreement with CCA Acquisition, LLC (the ‘Purchaser’). VEREIT may receive up to $200 million under the purchase and sale agreement and the services agreement. Pursuant to the terms of the purchase and sale agreement, at the Closing, William C. Miller, VEREIT’s Executive Vice President, Investment Management, will cease to be employed by the company and will be employed by the purchaser or one of its affiliates.