Exhibit 10.1


 


October 17,
2005


 


 


Robert E.
Sulentic


6037 Lakehurst
Avenue


Dallas, Texas
75230


 


Re:          Amendment
to Employment Agreement


 


Dear Bob:


 


As you know, you and Trammell Crow Company (the “Company”, or “we”, or “us”)
are parties to that certain employment letter agreement, dated as of October 17,
2003, as supplemented by that certain letter delivered by us to you, dated as
of April 6, 2004 (the “Employment Agreement”),
which set forth the terms of your employment with us.  We and you now wish to amend and supplement
the Employment Agreement in certain respects as set forth in this letter
agreement (this “Amendment”).  We and you both acknowledge and agree that
this Amendment is being made for good and valuable consideration, the receipt
and sufficiency of which are also acknowledged. 
Each capitalized term used in this Amendment and not otherwise defined
herein will have the meaning given such term in the Employment Agreement.


 


1.             Amendment.


 


(a)           Section 1
of the Employment Agreement is hereby amended and restated to read in its
entirety as follows:


 


1.             Employment
Period.  Subject to the
terms and provisions of this Agreement, we agree to continue to employ you, and
you agree to continue to be employed by us, for a period (the “Employment
Period”) commencing on the date hereof and expiring December 31, 2007;
provided, that on December 31, 2007 and on each subsequent December 31,
this Agreement will automatically be extended for one additional year unless,
during the four month period
beginning March 1 and ending July 1 immediately prior to the next
scheduled extension, you or we will have given written notice (a “Non-Renewal
Notice”) that the Employment Period will not be extended (a “Non-Renewal”).


 


2.             Employment Agreement Otherwise Unchanged.  Except as specifically amended or
supplemented in this Amendment, the Employment Agreement will continue in full
force and effect in accordance with its terms.


 





















 


3.             Counterparts.  This Amendment may be executed (including by
facsimile transmission) in any number of counterparts.


 


4.             Governing Law.  THIS AMENDMENT SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF TEXAS WITHOUT REFERENCE
TO PRINCIPLES OF CONFLICT OF LAWS OF TEXAS OR ANY OTHER JURISDICTION, AND,
WHERE APPLICABLE, THE LAWS OF THE UNITED STATES.


 


[SIGNATURE
PAGE FOLLOWS]


 


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By signing and countersigning this Amendment in the appropriate space
set forth below, we and you have agreed to be bound by the terms and conditions
set forth herein, effective as of the date first written above.


 


	
   

  	
  Sincerely,

  
	
   

  	
   

  
	
   

  	
  TRAMMELL CROW COMPANY,

  
	
   

  	
  a Delaware
  corporation

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ J.
  Christopher Kirk

  
	
   

  	
  Name:

  	
  J.
  Christopher Kirk

  
	
   

  	
  Title:

  	
  Executive
  Vice President

  
	
   

  	
   

  
	
   

  	
  Address:

  	
  Trammell
  Crow Company

  
	
   

  	
   

  	
  2001 Ross
  Avenue, Suite 3400

  
	
   

  	
   

  	
  Dallas,
  Texas 75201

  
	
   

  	
   

  	
  Attention:
  General Counsel

  
	
   

  	
   

  	
  Telephone:
  (214) 863-3000

  
	
   

  	
   

  	
  Fax: (214)
  863-3125

  
	
   

  	
   

  	
   

  
	
  ACKNOWLEDGED
  AND AGREED BY EXECUTIVE:

  	
   

  
	
   

  	
   

  
	
  /s/ Robert
  E. Sulentic

  	
   

  	
   

  
	
  Name: Robert
  E. Sulentic

  	
   

  
	
   

  	
   

  
	
  Address:

  	
  6037 Lakehurst Avenue

  	
   

  
	
   

  	
  Dallas, Texas 75230

  	
   

  
	
   

  	
  Telephone: (214) 378-5449

  	
   

  
	
   

  	
  Fax: (214) 863-3125