Document:

Exhibit 10.1

    
      

    

    

      
        	 	
                JONES
                  LANG LASALLE 

                STOCK
                  OWNERSHIP PROGRAM 

              	
                

              

      

      (Effective
        January 1, 2006) 

       

      Jones
        Lang LaSalle sponsors a series of compensation and benefit programs that
        can
        help Directors manage risk and assist them in meeting their personal financial
        goals. In an effort to help increase awareness and understanding of these
        programs, the Company has created this summary of its Stock Ownership Program
        and encourages your questions and feedback. 

       

      PROGRAM
        OBJECTIVES 

       

      The
        Jones Lang LaSalle Incorporated (the “Company”) Stock Ownership Program (SOP)
        establishes desirable ownership guidelines for National, Regional and
        International Directors in order to: 

      
         

      

      
        	 	
                ·

              	
                Align
                  a portion of the compensation of those employees who are most responsible
                  for the results of the Company with the interests of shareholders.
                  

              

      

      
        	 	
                
                  ·

                

              	
                Reward
                  people who make long-term contributions to the Company and encourage
                  retention through long-term wealth building incentives.
                  

              

      

      
        	 	
                
                  
                    ·

                  

                

              	
                Reinforce
                  the “one firm” mindset by encouraging employee ownership across business
                  units and regions. 

              

      

      

      The
        following desirable minimum stock ownership guidelines have been established
        for
        each Director level: 

       

      Table
        1: Stock Ownership Guidelines  

      
        
          
            	
                    Director
                      Level 

                  	
                    Beneficial
                      Ownership Guideline 

                  
	
                    International
                      Director 

                  	
                    Four
                      times annual base salary 

                  
	
                    Regional
                      Director 

                  	
                    Three
                      times annual base salary 

                  
	
                    National
                      Director 

                  	
                    Two
                      times annual base salary

                  

          

        

      

      

      The
        Company evaluates Directors’ position relative to these guidelines as of the
        first trading day in January preceding the date of the related bonus payment,
        using the annualized base salary on that day, the stock price on that day
        and
        the Director’s holdings of Company stock. 

       

      Directors
        may satisfy their ownership guideline through shares owned directly, shares
        owned by a spouse or a trust, the potential gain from outstanding stock options,
        and unvested or deferred restricted stock units. Although there is no specific
        period of time in which covered employees should achieve the ownership
        guidelines, Directors are expected to make continuous progress toward the
        target
        and to ideally maintain the applicable level once it has been achieved.

      
         

        PARTICIPATION
          REQUIREMENTS 

         

        To
          help Directors reach these ownership objectives, National, Regional and
          International Directors are separately paid a portion of their Total Award
          as a
          discretionary Stock Bonus (rather than as a discretionary Cash Bonus),
          awarded
          in the form of restricted stock units (“SOP Shares”) under the Stock Award and
          Incentive Plan (the “Plan”). In addition, the firm increases the value of SOP
          Shares by 25% when granted. The number of SOP Shares to be granted as a
          Stock
          Bonus is based upon the following criteria and the schedule provided on
          the next
          page: 

         

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      (a)  The
        employee’s Director
        level status as of January 1 for the year to which the bonus relates (or
        date of
        hire if hired during the year). Employees who may be promoted to National
        Director during the year do not participate in SOP for the remaining portion
        of
        the year they were promoted. Similarly, Regional Directors promoted to
        International Director will continue to participate at the Regional Director
        level for the remaining portion of the year they were promoted and begin
        new
        participating at the International Director level for the following year.
        

       

      (b)  The
        closing price per
        share of Company common stock as of the first trading day in January of the
        year
        following the year to which the Total Award relates. For example, the number
        of
        SOP Shares granted in January, 2006 as part of the 2005 Stock Bonus was
        determined based on the closing price of the Company’s common stock as of
        January 3, 2006, or $52.75, while discretionary Cash Bonuses for 2005 were
        paid
        in March, 2006 (at a time when the closing price per share was between $70
        and
        $75). With the 25% “uplift” described above, the $52.75 closing price results in
        a share price of $42. 

      
        

        (c)  The
          currency exchange
          rate in effect as of the last trading day in December of the year to which
          the
          bonus relates, as determined by the Company. 

      

       

      Table
        2: Cash Bonus and Stock Bonus Levels 

      
        
          	
                  Director
                    Level

                	
                  Percentage
                    of Total Award Paid as Cash Bonus

                	
                  Percentage
                    of Total Award Separately Paid as SOP Shares

                
	
                  International
                    Director 

                	
                  80%

                	
                  20%

                
	
                  Regional
                    Director 

                	
                  85%

                	
                  15%

                
	
                  National
                    Director 

                	
                  90%

                	
                  10%

                

        

      

      

      For
        example,
        if a
        Regional Director received a Total Award of $50,000, the Director would receive
        a Cash Bonus of $42,500 (85% of $50,000) and a Stock Bonus of $7,500. The
        number
        of SOP Shares to be granted, assuming a closing price of $52.75 per share
        and an
        exchange rate of €1.00 to $1.25, is shown below in each of the two examples:

       

        
          

        

      

      
        Example
          1:
          Total
          Award paid in U.S. dollars:
          

        
          	 	
                  SOP
                    Shares 

                	
                  =
                    Stock Bonus ($7,500) plus 25% firm contribution (uplift is
                    $1,875)

                
	 	         	
                  =
                    $
                    9,375 divided by $52.75 (closing price)

                
	 	 	
                  =
                    178 shares                              

                

        

         

        Example
          2:
          Total
          Award paid in Euros:
          

        
          	 	
                  SOP
                    Shares

                	
                  =
                    Stock Bonus (€ 6,000) plus 25% firm contribution
                    (€1,500)

                
	 	         	
                  =
€
                    7,500 times 1.25 (exchange rate) divided by $52.75 (closing
                    price)

                
	 	 	
                  =
                    178 shares                              

                

        

        
          

        

      

       

      Minimum
        Participation Levels 

       

      Participation
        in SOP requires that the minimum value of Stock Bonus to be paid as SOP Shares
        be no less than US $2,000. For example, a National Director would need to
        be
        eligible to receive a US $20,000 Total Award to qualify for SOP Shares. For
        those that do not have Total Awards that meet the minimum Stock Bonus threshold,
        no SOP Shares are granted and the employee receives his/her Total Award paid
        in
        cash, with no 25% premium. 

      
         

        Voluntary
          Election to Not Participate 

         

        Employees
          may (but are not required to) opt out of receiving SOP Shares if they hold
          shares in the Company whose value exceeds the minimum stock ownership guidelines
          described in the first page of this booklet. If such an election is made,
          these
          individuals receive their Total Award in cash at the same time all other
          annual
          bonuses are paid, with no 25% premium. 

         

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      In
        addition, under the recently launched Director Personal Co-Investment Program
        which the Company established in 2005, International and Regional Directors
        who
        are eligible to opt out of receiving SOP Shares can instead receive up to
        100%
        of the percentage of Total Award otherwise to be paid as a Stock Bonus, in
        the
        form of “SOP Units”. SOP Unit values, like other investments in the Director
        Personal Co-Investment Program, are derived from returns on a portfolio
        comprised of certain real estate co-investments made by the Company through
        the
        client funds established by its LaSalle Investment Management (“LIM”) business.
        If such an election is made, the SOP Units do not receive the benefit of
        the 25%
        premium that is added to SOP Shares, but remain subject to the same vesting
        schedule applied to SOP Shares. Separate plan documents relating to SOP Units
        are provided to potential participants. 

       

      Individuals
        must inform the Company of their election not
        to
        receive SOP Shares (or SOP Units) by no later than January
        5 each year.
        This
        notification must be communicated in writing to the Regional HR Director
        and
        have supporting documentation showing that the minimum required level of
        individual stock ownership has been achieved. This election is not available
        in
        certain countries where the availability of the election would result in
        immediate taxation of SOP Shares. 

       

      VESTING
        OF SOP SHARES 

       

      Any
        SOP Shares that a Director receives will be granted as of the immediately
        preceding January
        1st 
        and
        will vest according to the following schedule, subject to the Director
        continuing to be employed by the Company as of each Vesting Date, and the
        terms
        of the specific agreement which memorializes the terms of the award:

       

      
        	 	
                
                  ·

                

              	
                50%
                  of SOP Shares vest on the 1st
                  July that
                  is 18 months after the grant date; and

              

      

      
        	 	
                
                  ·

                

              	
                50%
                  of SOP Shares vest on the 1st
                  July that
                  is 30 months after the grant date. 

              

      

      

      For
        example, SOP Shares were granted on January 1, 2006 as part of the Total
        Award
        for 2005 that were paid on or about March of 2006. Half of those SOP Shares
        will
        vest on July 1, 2007 and the other half will vest on July 1, 2008. 

       

      DIVIDEND
        EQUIVALENTS; NO VOTING RIGHTS 

       

      In
        2005 and 2006, employees who were granted SOP Shares received an additional
        benefit in the form of a semi-annual payment of $0.25 per share as a dividend
        equivalent. The Board of Directors may, in its discretion from time to time,
        continue to grant dividend equivalents to employees who were granted SOP
        Shares.
        Dividend equivalents are the rights to receive cash, common stock, or other
        property equal in value to the amount of dividends paid with respect to the
        Company’s common stock. SOP Shares do not otherwise have a legal right to
        receive dividends until vested. SOP Shares do not have voting rights until
        they
        have vested. 

       

      FORFEITURE
        

       

      All
        SOP Shares are subject to the terms and conditions outlined in a grant agreement
        and to the terms and conditions contained in the Plan. By receiving and
        accepting a discretionary award of SOP Shares, all Directors accept all terms
        and conditions. For example, these conditions apply for terminated employees:
        

       

      -
        Voluntary Resignation or Termination for Cause
        - results in the immediate forfeiture of SOP Shares that are not yet
        vested.

      
        
           

          -
            Termination
            by Reason of Retirement-
            outstanding grants will continue to vest according to their standard
            vesting
            schedule and shares of stock shall be issued in accordance with the standard
            vesting schedule. For purposes of SOP Shares, Retirement means age 65
            or where
            any combination of age and years of service equals 65, as long as the
            employee
            is at least 55 years old. If a specific local legal requirement requires
            this
            employee stock program to comply
            with a different definition, the local laws would prevail. In either
            case, the
            retired employee will be required to sign a non-solicitation and non-compete
            agreement at the time of retirement;

           

        

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      -
        Termination by Reason of Death, Total and Permanent Disability, - the grant
        will continue to vest according to the standard vesting schedule; 

       

      -
        SOP
        Shares will not be forfeited, and will continue to vest on their original
        schedules in the event an employee is involuntarily terminated due to a position
        elimination. 

       

      TAX
        CONSIDERATIONS 

       

      All
        Cash
        Bonuses are subject to normal taxes and social charges, as required by local
        tax
        laws. The tax consequences associated with the grant and payment of a Stock
        Bonus as SOP Shares, as well as any anticipated dividend equivalent payments
        and
        eventual sale of stock, are always subject to individual income tax
        circumstances at the time of grant, vesting and sale. In general, the Company
        anticipates that there will be no income tax obligations for an employee
        at the
        time SOP Shares are granted. Subject to the tax laws in the countries that
        apply
        to different employees, the vesting of SOP Shares will create a tax reporting
        event based on the fair market value of the shares at that time. Individuals
        should seek advice of their personal tax advisor to obtain specific information
        concerning the tax consequences associated with participation in SOP.

       

      HISTORIC
        PERFORMANCE 

       

      SOP
        Shares have provided a consistent means of acquiring stock ownership in the
        Company, as well as the potential for increased financial returns for those
        who
        have participated in the program since its inception. The schedule below
        represents the percentage increase in value of each dollar contributed to
        the
        SOP and the market value of Jones Lang LaSalle common stock on June 30, 2006.
        Please keep in mind that past performance is not an indicator, guarantee
        or
        assurance of future performance. 

       

      
        
          
            	Table
                    3: Historic Value of SOP Shares	 	 	 	 
	
                    Bonus
                      

                  	 	
                    Share
                      Price 

                    on
                      Grant 

                    Date
                      

                  	 	
                    Adjusted
                      

                    Share
                      

                    Price
                      (1)

                  	 	
                    Current
                      

                    Value
                      (2)

                  	 	
                    Potential
                      

                    Return
                      

                  	 
	
                    1999
                      Bonus 

                  	 	
                    $

                  	
                    11.31

                  	     	
                    $

                  	
                    9.42

                  	    
	
                    $

                  	
                    87.55

                  	    
	 	
                    828.9

                  	
                    %

                  
	
                    2000
                      Bonus 

                  	 	 	
                    13.50
                      

                  	 	 	
                    10.80
                      

                  	 	
                    $

                  	
                    87.55

                  	 	 	
                    710.6

                  	
                    %

                  
	
                    2001
                      Bonus 

                  	 	 	
                    17.80
                      

                  	 	 	
                    14.24
                      

                  	 	
                    $

                  	
                    87.55

                  	 	 	
                    514.8

                  	
                    %

                  
	
                    2002
                      Bonus 

                  	 	 	
                    15.89
                      

                  	 	 	
                    12.71
                      

                  	 	
                    $

                  	
                    87.55

                  	 	 	
                    588.7

                  	
                    %

                  
	
                    2003
                      Bonus 

                  	 	 	
                    20.89
                      

                  	 	 	
                    16.71
                      

                  	 	
                    $

                  	
                    87.55

                  	 	 	
                    423.9

                  	
                    %

                  
	
                    2004
                      Bonus 

                  	 	 	
                    37.35
                      

                  	 	 	
                    29.88
                      

                  	 	
                    $

                  	
                    87.55

                  	 	 	
                    193.0

                  	
                    %

                  
	
                    2005
                      Bonus 

                  	 	 	
                    52.75
                      

                  	 	 	
                    42.20
                      

                  	 	
                    $

                  	
                    87.55

                  	 	 	
                    107.5

                  	
                    %

                  
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                    Note
                      (1) Adjusted share price includes the impact of the 25% Firm
                      uplift.

                  
	
                    Note
                      (2) Current value based on closing price as of
                      6/30/06.         

                  

          

        

      

       

      RIGHTS
        AS A STOCKHOLDER 

       

      The
        holder of an award will have no rights as a shareholder with respect to any
        shares covered by the award except as expressly contained or provided for
        in the
        award agreement or the Plan until the vesting of the award. 

      

      
        	
                Disclaimer

              
	
                This
                  Summary of out Stock Ownership Program is subject to the terms
                  and
                  conditions of the Plan and each underlying grant agreement issued
                  thereunder. In the event of a conflict, the terms of the Plan or
                  the
                  underlying grant agreement shall prevail. Any terms not otherwise
                  defined
                  in this summary shall have the meaning provided for in the Plan
                  or the
                  grant agreement issued
                  thereunder.Exhibit 10.2

    
      

    

    

    JONES
      LANG LASALLE INCORPORATED

    200
      EAST RANDOLPH DRIVE

    CHICAGO,
      ILLINOIS 60601

    

    September
      5, 2006

    

    Ms.
      Lynn
      C. Thurber

    200
      East
      Randolph Drive

    Chicago,
      Illinois 60601

    

    Dear
      Lynn:

    

    You
      have
      indicated that you will retire from your position as Chief Executive Officer
      of
      LaSalle Investment Management, Inc. (LIM),
      a
      wholly-owned subsidiary of Jones Lang LaSalle Incorporated (JLL),
      effective as of the close of business on December 31, 2006. 

    

    By
      this
      letter agreement (this Agreement),
      you
      and JLL (both for itself and on behalf of LIM) agree to (1) confirm certain
      matters with respect to your retirement and (2) establish the principal roles
      and responsibilities you will have, and the financial and other terms that
      will
      apply, when you assume the role of Chairman of LIM, as you, JLL and LIM have
      agreed that you will do effective January 1, 2007.

    

    We
      greatly look forward to continuing our highly successful relationship with
      you
      as outlined in this Agreement and are confident that in your new role you will
      add significant value to our organization as you have done before your
      retirement. 

    

    Confirmation
      of Retirement Matters

    

    With
      respect to your retirement, we agree as follows:

    

    (1)   Treatment
      of Equity Plans. For
      avoidance of doubt, the consequences of your retirement on the various equity
      and other positions you hold pursuant to our compensation and benefit plans
      will
      be established under the terms of those respective plans and will be reflected
      in documentation that Human Resources will separately provide to you.
      Accordingly, for example, no unvested shares of restricted stock (whether
      received by you as grants under the Stock Award and Incentive Plan or under
      either of the Stock Ownership Program or the LIM Long-Term Incentive
      Compensation Program), or any unvested and/or unexpired options, will be
      forfeited as the result of your retirement, but will continue to vest according
      to the separate agreements that apply to the various awards. Additionally,
      the
      grant you received in 2002 under the Co-Investment Long-Term Incentive Plan
      will
      vest according to its terms on January 1, 2007 and will not be
      forfeited.

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    (2)   2006
      Cash Bonus and Participation in LIM Long-Term Incentive Compensation Program.
      As
      a
      material inducement to your agreement to assume the role of LIM Chairman, JLL
      and LIM agree that you will remain eligible to receive your bonus for 2006
      as if
      you remained employed as LIM’s Chief Executive Officer on the date that bonuses
      are generally paid to LIM employees in 2007 (or put another way, that you will
      not forfeit any rights to receive your 2006 bonus as the result of your
      retirement at the end of 2006). Your 2006 bonus will be determined by the
      Compensation Committee of JLL’s Board of Directors and paid in 2007 according to
      the procedures and schedule applicable to LIM employees generally. 

    

    For
      avoidance of doubt, you will continue to participate in the LIM Long-Term
      Incentive Compensation Program as set forth in the Program document, including
      without limitation the phased-in reduction of award points over a three-year
      period pursuant to the provision thereof entitled “Retirement and
      Death/Disability.” The provisions of the Program as in effect on the date of
      this Agreement shall apply for 2007. Thereafter, as anticipated in the Program,
      the provisions of any extension, modification or alternative program as may
      generally be put in place for LIM employees shall apply to you for 2008 and
      2009. However, in no event may the current structure of award points reduction
      be changed as to you, so that while the methodology for determining the value
      of
      award points may change as contemplated above, the reduction in your award
      points must in any event remain at 20% per year for the next three years as
      is
      stated in the current Program and may not be modified without your
      consent.

    

    The
      evaluation of your 2006 performance and the determination of your actual 2006
      bonus amount and the determination of your actual 2006 award points under the
      LIM Long-Term Incentive Compensation Program will reflect that you were the
      full-time Chief Executive Officer of LIM for the entire evaluation year of
      2006
      and will not be impacted by your retirement as of December 31, 2006. In
      addition, your rights under section (1) above and under this section (2) shall
      not in any way be impacted in the event that your role as Chairman of LIM is
      terminated for any reason under section (5) below.

    

    (3)   Retirement
      From All Positions. You
      will
      retire from all officer and other positions you currently hold in JLL or LIM,
      including International Director, all committee positions and all positions
      on
      any LIM funds. All of your relationships with JLL and LIM on and after January
      1, 2007 shall be established pursuant to this Agreement or be clearly derived
      from your position as Chairman of LIM.

    

    Terms
      Relating to LIM Chairman Position

    

    With
      respect to your role as the Chairman of LIM, we further agree as
      follows:

    

    (1)   Principal
      Responsibilities. Your
      principal responsibilities as Chairman of LIM are set forth on Appendix A to
      this Agreement. You agree to perform such additional duties as may be reasonably
      requested of you from time to time by either the Chief Executive Officer of
      LIM
      or the Chief Executive Officer of JLL, provided that such duties are reasonably
      related to your principal responsibilities and do not add to your expected
      time
      commitment as set forth below.

    

    
      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

    

    

    

    (2)   Time
      Commitment. The
      time
      commitment for the role of Chairman of LIM shall be approximately an average
      of
      1-1/2 to 2 days per week (assuming that there are four weeks of vacation each
      year during which you will not be expected to spend any time on your
      responsibilities), provided that it shall be within your reasonable discretion
      to determine how best to allocate your time commitment in order to fulfill
      your
      responsibilities.

    

    (3)   Reporting
      Relationship. In
      your
      role of Chairman, you will report directly to the Chief Executive Officer of
      LIM.

    

    (4)   Compensation
      and Expense Reimbursement. Your
      compensation as Chairman of LIM shall be US$150,000 annually, paid semi-monthly
      in arrears through JLL’s regular payroll system.

    

    You
      will
      be reimbursed for all reasonable and documented out-of-pocket expenses
      associated with carrying out your responsibilities under this Agreement
      (including any client entertainment and attendance at industry conferences
      and
      related events that is reasonably approved by the Chief Executive Officer of
      LIM), consistent with LIM’s travel and entertainment policies. This includes
      reimbursement for travel to Chicago (or elsewhere) from your residence(s)
      outside of Chicago for meetings reasonably related to carrying out such
      responsibilities.

    

    JLL
      shall
      provide you, free of charge, such electronic, telecopy and communications
      equipment and connections, supplies and administrative assistance as shall
      be
      reasonably necessary for you to carry out your obligations under this Agreement
      and for you to be able to work from home.

    

    (5)   Term
      and Termination. Your
      initial term as Chairman of LIM shall be from January 1, 2007 through December
      31, 2008. We will thereafter review the relationship for possible renewal of
      the
      position on an annual basis, with any such annual renewal to be on mutually
      satisfactory terms in the discretion of each of you and the Chief Executive
      Officer of JLL. 

    

    During
      the calendar year 2008 and any subsequent renewal year, you may terminate this
      Agreement without cause upon at least thirty days written notice, in which
      case
      your compensation shall cease as of the termination date. This Agreement shall
      automatically terminate in the event of your death or permanent disability
      during the term of this Agreement or any renewal term, provided that JLL shall
      continue to pay (either to you or to your estate) the compensation set forth
      in
      section (4) above through the remainder of the then applicable term. JLL may
      terminate this Agreement at any time prior to the end of the initial or any
      renewal term in the event that you materially fail to perform your obligations
      under this Agreement in the reasonable discretion of JLL, in which case your
      compensation shall cease as of the termination date.

    

    
      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

    

    

    (6)   Part-Time
      Employment Status; Compliance with Code of Business Ethics.
      In your
      position as Chairman of LIM, you shall have the status of a part-time employee,
      as the result of which you shall not generally be eligible for benefits such
      as
      medical, disability, life or other insurances. Notwithstanding the foregoing,
      however, you will be able, at your discretion, to continue to participate in
      the
      401(k) savings plan and will remain eligible to participate in the Company
      matching program.

    

    As
      a
      part-time employee, you will remain subject to all of the provisions of (i)
      JLL’s Code of Business Ethics, including without limitation the provisions
      thereof relating to the confidentiality of information, and (ii) all JLL or
      LIM
      policies and procedures insofar as they reasonably relate to your obligations
      under this Agreement.

    

    (7)   Non-Competition
      and Non-Solicitation; Other Board Service. During
      the initial and any renewal term of this Agreement, and through the date of
      the
      last vesting of shares of restricted stock units that you shall have received
      under the LIM Long-Term Incentive Compensation Program, you shall not (i)
      participate in, or provide advice or services to, any business activity that
      is
      then currently in competition with any business of JLL or LIM (or any of their
      respective affiliated entities), (ii) directly or indirectly solicit, induce
      or
      cause any JLL or LIM employee to leave employment by JLL or LIM or become
      employed by another entity with which you are affiliated, (iii) directly or
      indirectly solicit, induce or cause any JLL or LIM client to discontinue or
      reduce its relationship with JLL or LIM.

    

    In
      addition, during the initial or any renewal term you shall not join the board
      of
      directors, advisory board or any other similar body, of any other for-profit
      entity that may be reasonably deemed to compete with JLL or LIM without the
      prior written consent of the Chief Executive Officer of JLL.

    

    (8)   Miscellaneous
      Provisions; Governing Law.
      This
      Agreement constitutes the entire agreement between you, JLL and LIM, and
      supersedes all other communications, whether written or verbal. This Agreement
      may be amended only in writing by each of the parties hereto. A waiver of any
      provision by you, JLL or LIM shall not constitute a waiver of any succeeding
      breach of the same provision or a waiver of any other provision. Every part
      of
      this Agreement is severable from the others so that if one part is held to
      be
      void or unenforceable, the remaining parts shall remain in full force and
      effect. This Agreement shall be binding on the successors of the parties hereto,
      provided that you may not assign this Agreement or any aspect of it to any
      other
      person or entity without JLL’s prior written consent. 

    

    This
      Agreement shall be governed by the laws of the State of Illinois.

    

    (9)   Notices.
      Any
      notice required to be given in writing under this Agreement shall be given
      by
      personal delivery or by overnight courier service to the address of each party
      as set forth below, or to such other address for either party as that party
      may
      designate by written notice. Delivery shall be deemed effective upon receipt
      or
      failure to accept receipt in the case of personal delivery or delivery by
      overnight courier.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    

    Lynn
      C. Thurber

    

    Ms.
      Lynn
      C. Thurber

    c/o
      LaSalle Investment Management

    200
      East
      Randolph Drive

    Chicago,
      Illinois 60601

    

    Jones
      Lang LaSalle Incorporated

    

    Chief
      Executive Officer

    Jones
      Lang LaSalle Incorporated

    200
      East
      Randolph Drive

    Chicago,
      Illinois 60601

    

    with
      a
      copy to:

    

    Global
      General Counsel

    Jones
      Lang LaSalle Incorporated

    200
      East
      Randolph Drive

    Chicago,
      Illinois 60601

    

    We
      trust
      these arrangements meet with your approval. Please indicate your concurrence
      with the terms of this Agreement by countersigning a copy and returning it
      to
      us, at which point it will become effective as of the date first written
      above.

     

    
      
        	 	
                Sincerely,

              
	 	 
	 	
                JONES
                  LANG LASALLE INCORPORATED

              
	 	 
	 	
                By:

              	
                /s/
                  Colin Dyer

              
	 	
                Its:

              	
                Chief
                  Executive Officer and
                  President

              

      

    

    

    Agreed
      and Accepted by:

     

    
      
        	
                /s/
                  Lynn C. Thurber

              	 
	
                Lynn
                  C. Thurber

              	 

      

    

     

    
      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

    

    

    Appendix
      A

    

    PRINCIPAL
      ROLES AND RESPONSIBILITIES

    OF
      THE

    CHAIRMAN
      OF LASALLE INVESTMENT MANAGEMENT

    

    Participation
      on Committees and Advisory Boards.
      

    

    Serve
      as
      a member of the following groups:

    

    
      	 	
              o

            	
              Asia-Pacific
                Investment Committee (voting
                member);

            

    

    
      	 	
              o

            	
              Advisory
                Boards for Asia Recovery Fund, LaSalle Asia Opportunity Fund II and
                Japan
                Logistics Fund;

            

    

    
      	 	
              o

            	
              Co-investment
                Capital Allocation Committee (non-voting
                member);

            

    

    
      	 	
              o

            	
              Advisory
                Board of LIC I & II (position:
                Chairman).

            

    

    

    Advisory
      Services.
      

    

    Be
      available to provide advice and counsel to the Global Management Committee
      and
      CEO on matters like:

    

    
      	 	
              o

            	
              Business
                strategy and execution;

            

    

    
      	 	
              o

            	
              Client
                relationship management;

            

    

    
      	 	
              o

            	
              Human
                resources (e.g. - succession planning and
                mentoring);

            

    

    
      	 	
              o

            	
              Marketing
                strategy;

            

    

    
      	 	
              o

            	
              Thought
                leadership.

            

    

    

    Client
      Relationship Management.
      

    

    As
      appropriate, play a senior role in managing key client relationships and serve
      as an ambassador in the industry on behalf of LaSalle. Primary responsibilities
      will include:

    

    
      	 	
              o

            	
              Assisting
                with the smooth management of transition
                issues;

            

    

    
      	 	
              o

            	
              Helping
                LaSalle understand the needs of our clients, and advising on how
                these
                needs can be met;

            

    

    
      	 	
              o

            	
              Assisting
                with the marketing of our strategy and new product ideas as appropriate
                during interactions with clients and
                prospects;

            

    

    
      	 	
              o

            	
              Securing
                feedback from our clients regarding service delivery provided by
                our
                organization. 

            

    

    

    
      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

      

    

    

    Chairman
      / LaSalle Advisory Committee.
      

    

    Determine
      whether an Advisory Committee, comprised of 3-4 external senior
      people/specialists, should be formed to share ideas and advise the Global
      Management Committee on critical matters such as:

    

    
      	 	
              o

            	
              Industry
                trends;

            

    

    
      	 	
              o

            	
              Competitor
                practices;

            

    

    
      	 	
              o

            	
              Long-term
                business strategy;

            

    

    
      	 	
              o

            	
              New
                product ideas and competitive
                offerings;

            

    

    
      	 	
              o

            	
              Ways
                to differentiate the business within its
                sector;

            

    

    
      	 	
              o

            	
              Execution
                tactics.

            

    

    

    In
      the
      event this Committee is formed, serve as the Chairman for this
      entity.

     

      

    7

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