Document:

Amended and Restated Guarantee Agreement

 Exhibit 10.2 
 EXECUTION COPY 
 AMENDED AND RESTATED GUARANTEE AGREEMENT 
 AMENDED AND RESTATED GUARANTEE AGREEMENT, dated as of January 23, 2008 (as amended, restated, supplemented, or otherwise modified from time to time,
this “Guarantee”), made by CBRE REALTY FINANCE, INC., a Maryland corporation having its principal place of business at City Place I, 37th Floor, 185 Asylum Street, Hartford, CT 06103 (the “Parent”) and CBRE REALTY
FINANCE HOLDINGS, LLC, a Delaware limited liability company having its principal place of business at City Place I, 37th Floor, 185 Asylum Street, Hartford, CT 06103 (individually, “Holdings”, and collectively, with the Parent, the
“Guarantors”), jointly and severally, in favor of the Buyer referred to below. This Guarantee amends, restates and replaces in its entirety the Guarantee Agreement dated as of August 24, 2006 from Guarantors in favor of Bank.

 RECITALS 
 Pursuant to
that certain Master Repurchase Agreement, dated as of August 24, 2006 (as amended, supplemented or otherwise modified from time to time, the “Repurchase Agreement”), among Wachovia Bank, National Association (as
“Buyer”) and CBRE Realty Finance Holdings IV, LLC, and CBRE Realty Finance TRS Warehouse Funding III, LLC, (collectively, “Seller”), Seller has agreed to sell, from time to time, to Buyer certain Whole Loans, Junior
Participation Interests, Mezzanine Loans, Bridge Loans, Construction Loans and CMBS each as defined in the Repurchase Agreement (collectively, the “Purchased Assets”), upon the terms and subject to the conditions as set forth
therein. Pursuant to the terms of that certain Custodial Agreement by and between Wells Fargo Bank, N.A. (the “Custodian”), Buyer, Seller (the “Custodial Agreement”), the Custodian is required to take possession of
the Mortgage Assets, along with certain other documents specified in the Custodial Agreement, as the Custodian of Buyer and any future purchaser, on several delivery dates, in accordance with the terms and conditions of the Custodial Agreement. The
Repurchase Agreement, the Custodial Agreement, this Guarantee and any other agreements executed in connection with the Repurchase Agreement and the Custodial Agreement shall be referred to herein as the “Governing Agreements”.

 It is a condition precedent to Buyer purchasing the Mortgage Assets pursuant to the Repurchase Agreement that the Guarantors shall have
executed and delivered this Guarantee with respect to the due and punctual payment and performance when due, whether at stated maturity, by acceleration or otherwise, of all of the following: (a) all payment obligations owing by Seller to Buyer
under or in connection with the Repurchase Agreement and any other Governing Agreements; (b) any and all extensions, renewals, modifications, amendments or substitutions of the foregoing; (c) all expenses, including, without limitation,
reasonable attorneys’ fees and disbursements, that are incurred by Buyer in the enforcement of any of the foregoing or any obligation of the Guarantors hereunder; and (d) any other obligations of Seller with respect to Buyer under each of
the Governing Agreements (collectively, the “Obligations”). 
 NOW, THEREFORE, in consideration of the foregoing premises,
to induce the Buyer to enter into the Repurchase Documents and to enter into the transactions contemplated thereunder, the Guarantors hereby agree with the Buyer, as follows: 

 1. Defined Terms. As used herein, the following terms shall have the following meanings (all terms
in this Section 2 or in other provisions of this Guarantee in the singular shall have the same meanings when used in the plural, and visa versa.) Terms not otherwise defined herein shall have the meanings assigned to them in the
Repurchase Agreement. 
 “Consolidated Adjusted EBITDA” means, for any period, determined with respect to any Person(s) on a
consolidated basis, an amount equal to the sum of (a) net income (or loss) of such Person(s) for such period determined on a consolidated basis (prior to any impact from minority interests and before deduction of Preferred Dividends on
preferred stock, if any, of such Person(s)), in accordance with GAAP, plus the following (but only to the extent actually included in determination of such net income (or loss)): (i) depreciation and amortization expense, (ii) interest
expense, (iii) income tax expense and (iv) extraordinary or non-recurring gains and losses; plus (b) each such Person’s pro rata share of Consolidated Adjusted EBITDA of its Unconsolidated Affiliates, determined in each case in
accordance with GAAP. 
 “Consolidated Tangible Net Worth”: As of a particular date, (a) all amounts which would be
included under capital (or any like caption) on a consolidated balance sheet of any Person(s) at such date determined in accordance with GAAP, as such amounts may be adjusted to reflect the value of unrealized gains or losses based on the
mark-to-market of assets comprising CMBS securities, as determined by such Person, less (b) amounts owing to such Person(s) from any Affiliates thereof, or from officers, employees, partners, members, directors,
shareholders or other Persons similarly affiliated with such Person(s) or their respective Affiliates, (ii) intangible assets (other than Interest Rate Protection Agreements specifically related to the Purchased Assets) and (iii) prepaid
taxes and/or expenses. 
 “Debt Service” means, for any period, the sum of: (a) Interest Expense of any Person
determined on a consolidated basis for such period and (b) all regularly scheduled payments made with respect to Indebtedness of such Person during such period, other than any balloon, bullet or similar principal payment which repays such
Indebtedness in full, determined in each case in accordance with GAAP. 
 “Equity Interest”: means, with respect to any
Person, any share of Capital Stock of (or other ownership or profit interests in) such Person, any warrant, option or other right for the purchase or other acquisition from such Person of any share of Capital Stock of (or other ownership or profit
interests in) such Person, any security convertible into or exchangeable for any share of Capital Stock of (or other ownership or profit interests in) such Person or warrant, right or option for the purchase or other acquisition from such Person of
such shares (or such other interests), and any other ownership or profit interest in such Person (including, without limitation, partnership, member or trust interests therein), whether voting or nonvoting, and whether or not such share, warrant,
option, right or other interest is authorized or otherwise existing on any date of determination. 
 “Fixed Charges” means,
on a consolidated basis, for any Person and for any period, the sum (without duplication) of (a) Debt Service for such period and (b) Preferred Dividends for such period and (c) all payments due under any ground lease, determined in
each case in accordance with GAAP. 
  

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 “Fixed Charge Coverage Ratio” means, for the immediately preceding fiscal quarter, the
ratio of any Person’s (i) Consolidated Adjusted EBITDA for the most recently ending fiscal quarter of each such Person to (ii) Fixed Charges for such period, determined in each case in accordance with GAAP. 
 “Interest Expense” means, with respect to a Person for any period of time, (a) the interest expense, whether paid, accrued or
capitalized (without deduction of consolidated interest income) of such Person for such period plus (b) in the case of the Guarantor, the Guarantors’s pro rata share of Interest Expense of its Unconsolidated Affiliates. Interest Expense
shall exclude any amortization of (i) deferred financing fees and (ii) debt discounts (but only to the extent such discounts do not exceed 3.0% of the initial face principal amount of such debt), determined in each case in accordance with
GAAP. 
 “Liquidity”: means the amount equal to the sum of (x) the excess, if any, of the aggregate Asset Value of all
Mortgage Assets which are Eligible Assets over the aggregate Repurchase Price of all Transactions then outstanding, plus (y) the amount of cash or Cash Equivalents held by Guarantors at such time, solely to the extent that the amount of
such cash and Cash Equivalents exceeds the amount necessary to satisfy at such time all of the financial covenants of Guarantors under this Guarantee. 
 “Preferred Dividends” means, for any given period and without duplication, all Restricted Payments accrued or paid (and in the case of Restricted Payments paid, which were not accrued during a prior
period) during such period on Preferred Stock issued by the Guarantors or their Subsidiaries. Preferred Dividends shall not include dividends or distributions paid or payable (a) solely in Equity Interests (other than Mandatory Redeemable
Stock) payable to holders of such class of Equity Interests; (b) to the Guarantors or any of their Subsidiaries; or (c) constituting or resulting in the redemption of Preferred Stock, other than scheduled redemptions not constituting
balloon, bullet or similar redemptions in full, determined in each case in accordance with GAAP. 
 “Preferred Stock” means,
with respect to any Person, Equity Interests in such Person which are entitled to preference or priority over any other Equity Interest in such Person in respect of the payment of dividends or distribution of assets upon liquidation or both.

 “Restricted Payment” means: (a) any dividend or other distribution, direct or indirect, on account of any Equity
Interest of the Guarantors or any of their Subsidiaries now or hereafter outstanding, except a dividend payable solely in Equity Interests of an identical or junior class to the holders of that class; (b) any redemption, conversion, exchange,
retirement, sinking fund or similar payment, purchase or other acquisition for value, direct or indirect, of any Equity Interest of the Guarantors or any of their Subsidiaries now or hereafter outstanding; and (c) any payment made to retire, or
to obtain the surrender of, any outstanding warrants, options or other rights to acquire any Equity Interests of the Guarantors or any of their Subsidiaries now or hereafter outstanding, determined in each case in accordance with GAAP. 

 

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 2. Guarantee. (a) Each Guarantor hereby unconditionally and irrevocably guarantees to the
Buyer the prompt and complete payment and performance of the Obligations by the Seller when due (whether at the stated maturity, by acceleration or otherwise), as the case may be, and agrees to indemnify and hold harmless the Buyer from any and all
claims, damages, losses, liabilities, costs and expenses that may be incurred by or asserted or awarded against the Buyer, in each case relating to or arising out of the Obligations, as the case may be. 
 (b) Each Guarantor further agrees to pay any and all reasonable expenses (including, without limitation, all reasonable fees and disbursements of
counsel) which may be paid or incurred by the Buyer in enforcing, or obtaining advice of counsel in respect of, any rights with respect to, or collecting, any or all of the Obligations and/or enforcing any rights with respect to, or collecting
against, either Guarantor under this Guarantee. This Guarantee shall remain in full force and effect until the later of (i) the date upon which the Obligations are paid in full and (ii) the termination of the Repurchase Agreement,
notwithstanding that from time to time prior thereto the Seller may be free from any Obligations. 
 (c) No payment or payments made by the
Seller or any other Person or received or collected by the Buyer from the Seller or any other Person by virtue of any action or proceeding or any set-off or appropriation or application, at any time or from time to time, in reduction of or in
payment of the Obligations shall be deemed to modify, reduce, release or otherwise affect the liability of the Guarantors hereunder which shall, notwithstanding any such payment or payments, remain liable for the amount of the Obligations until the
Obligations are paid in full. 
 (d) Each Guarantor agrees that whenever, at any time, or from time to time, either Guarantor shall make any
payment to the Buyer on account of the Guarantor’s liability hereunder, such Guarantor will notify the Buyer in writing that such payment is made under this Guarantee for such purpose. 
 3. Subrogation. Upon making any payment hereunder, Guarantors shall be subrogated to the rights of the Buyer against the Seller and any collateral
for any Obligations with respect to such payment; provided that Guarantors shall not seek to enforce any right or receive any payment by way of subrogation until all amounts due and payable by the Seller to the Buyer under the Repurchase Documents
or any related documents have been paid in full; and further provided that such subrogation rights shall be subordinate in all respects to all amounts owing to the Buyer under the Repurchase Documents. 
 4. Amendments, etc. with Respect to the Obligations. Each Guarantor shall remain obligated hereunder notwithstanding that, without any reservation
of rights against such Guarantor, and without notice to or further assent by such Guarantor, any demand for payment of any of the Obligations made by the Buyer may be rescinded by the Buyer and any of the Obligations continued, and the Obligations,
or the liability of any other party upon or for any part thereof, or any collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified,
accelerated, compromised, waived, surrendered or released by the Buyer, and any Repurchase Document and any other document in connection therewith may be amended, modified, supplemented or terminated, in whole or in part, as the Buyer may deem
advisable from time to 

  

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time, and any collateral security, guarantee or right of offset at any time held by the Buyer for the payment of the Obligations may be sold, exchanged,
waived, surrendered or released. The Buyer shall have no obligation to protect, secure, perfect or insure any lien at any time held by it as security for the Obligations or for this Guarantee or any property subject thereto. When making any demand
hereunder against Guarantors, the Buyer may, but shall be under no obligation to, make a similar demand on the Seller or any other guarantor, and any failure by the Buyer to make any such demand or to collect any payments from the Seller or any such
other guarantor or any release of the Seller or such other guarantor shall not relieve either Guarantor of its Obligations or liabilities hereunder, and shall not impair or affect the rights and remedies, express or implied, or as a matter of law,
of the Buyer against either Guarantor. For the purposes hereof “demand” shall include the commencement and continuance of any legal proceedings. 
 5. Guarantee Absolute and Unconditional. (a) Each Guarantor hereby agrees that its obligations under this Guarantee constitute a guarantee of payment when due and not of collection. Guarantors waive any
and all notice of the creation, renewal, extension or accrual of any of the Obligations and notice of or proof of reliance by the Buyer upon this Guarantee or acceptance of this Guarantee; the Obligations, and any of them, shall conclusively be
deemed to have been created, contracted or incurred in reliance upon this Guarantee; and all dealings between the Seller or either Guarantor, on the one hand, and the Buyer, on the other hand, shall likewise be conclusively presumed to have been had
or consummated in reliance upon this Guarantee. Each Guarantor waives promptness, diligence, presentment, protest, demand for payment and notice of default or nonpayment to or upon the Seller or the Guarantee with respect to the Obligations. This
Guarantee shall be construed as a continuing, absolute and unconditional guarantee of payment without regard to (i) the validity, regularity or enforceability of any Agreement, any of the Obligations or any collateral security therefor or
guarantee or right of offset with respect thereto at any time or from time to time held by the Buyer, (ii) any defense, set-off or counterclaim (other than a defense of payment or performance) which may at any time be available to or be
asserted by the Seller against the Buyer, (iii) any requirement that the Buyer exhaust any right to take any action against the Seller or any other Person prior to or contemporaneously with proceeding to exercise any right against Guarantors
under this Guarantee or (iv) any other circumstance whatsoever (with or without notice to or knowledge of the Seller or the Guarantors) which constitutes, or might be construed to constitute, an equitable or legal discharge of the Seller for
the Obligations or of the Guarantors under this Guarantee, in bankruptcy or in any other instance. When pursuing its rights and remedies hereunder against the Guarantor, the Buyer may, but shall be under no obligation, to pursue such rights and
remedies that the Buyer may have against the Seller or any other Person or against any collateral security or guarantee for the Obligations or any right of offset with respect thereto, and any failure by the Buyer to pursue such other rights or
remedies or to collect any payments from the Seller or any such other Person or to realize upon any such collateral security or guarantee or to exercise any such right of offset, or any release of the Seller or any such other Person or any such
collateral security, guarantee or right of offset, shall not relieve either Guarantor of any liability hereunder, and shall not impair or affect the rights and remedies, whether express, implied or available as a matter of law, of the Buyer against
either Guarantor. This Guarantee shall remain in full force and effect and be binding in accordance with and to the extent of its terms upon each Guarantor and its respective successors and assigns thereof, and shall inure to the benefit of the
Buyer, and its respective successors, endorsees, transferees and assigns, until all the Obligations and the obligations of each Guarantor under this Guarantee shall have been satisfied by payment in full, notwithstanding that from time to time
during the term of the Repurchase Documents the Seller may be free from any Obligations. 
  

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 (b) Without limiting the generality of the foregoing, each Guarantor hereby agrees, acknowledges, and
represents and warrants to the Buyer as follows: 
 (i) Each Guarantor hereby waives any defense arising by reason of, and any
and all right to assert against the Buyer any claim or defense based upon, an election of remedies by the Buyer which in any manner impairs, affects, reduces, releases, destroys and/or extinguishes such Guarantor’s subrogation rights, rights to
proceed against the Seller, or any other guarantor for reimbursement or contribution, and/or any other rights of such Guarantor to proceed against the Seller against any other guarantor, or against any other person or security. 
 (ii) Each Guarantor is presently informed of the financial condition of the Seller and of all other circumstances which diligent inquiry
would reveal and which bear upon the risk of nonpayment of the Obligations. Each Guarantor hereby covenants that it will make its own investigation and will continue to keep itself informed about the Seller’s financial condition, the status of
other guarantors, if any, of all other circumstances which bear upon the risk of nonpayment and that it will continue to rely upon sources other than the Buyer for such information and will not rely upon the Buyer for any such information. Absent a
written request for such information by either Guarantor to the Buyer, each Guarantor hereby waives the right, if any, to require the Buyer to disclose to the Guarantor any information which the Buyer may now or hereafter acquire concerning such
condition or circumstances including, but not limited to, the release of or revocation by any other guarantor. 
 (iii) Each
Guarantor has independently reviewed the Repurchase Documents and related agreements and has made an independent determination as to the validity and enforceability thereof, and in executing and delivering this Guarantee to the Buyer, such Guarantor
is not in any manner relying upon the validity, and/or enforceability, and/or attachment, and/or perfection of any liens or security interests of any kind or nature granted by the Seller or any other guarantor to the Buyer, now or at any time and
from time to time in the future. 
 6. Reinstatement. This Guarantee shall continue to be effective, or be reinstated, as the case may
be, if at any time payment, or any part thereof, of any of the Obligations is rescinded or must otherwise be restored or returned by the Buyer upon the insolvency, bankruptcy, dissolution, liquidation or reorganization of the Seller or upon or as a
result of the appointment of a receiver, intervenor or conservator of, or trustee or similar officer for, the Seller or any substantial part of the Seller’s property, or otherwise, all as though such payments had not been made. 
 7. Payments. Each Guarantor hereby agrees that the Obligations will be paid to the Buyer without set-off or counterclaim in U.S. Dollars at the
address specified in writing by the Buyer. 
  

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 8. Representations and Warranties. Each Guarantor represents and warrants that: 
 (a) the Guarantor has the legal capacity and the legal right to execute and deliver this Guarantee and to perform the Guarantor’s obligations
hereunder; 
 (b) no consent or authorization of, filing with, or other act by or in respect of, any arbitrator or governmental authority and
no consent of any other Person (including, without limitation, any creditor of the Guarantor) is required in connection with the execution, delivery, performance, validity or enforceability of this Guarantee; 
 (c) this Guarantee has been duly executed and delivered by the Guarantor and constitutes a legal, valid and binding obligation of the Guarantor
enforceable in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and by general principles of
equity (whether enforcement is sought in proceedings in equity or at law); 
 (d) the execution, delivery and performance of this Guarantee
will not violate any law, treaty, rule or regulation or determination of an arbitrator, a court or other governmental authority, applicable to or binding upon the Guarantor or any of its property or to which the Guarantor or any of its property is
subject (“Requirement of Law”), or any provision of any security issued by the Guarantor or of any agreement, instrument or other undertaking to which the Guarantor is a party or by which it or any of its property is bound
(“Contractual Obligation”), and will not result in or require the creation or imposition of any lien on any of the properties or revenues of the Guarantor pursuant to any Requirement of Law or Contractual Obligation of the
Guarantor; 
 (e) no litigation, investigation or proceeding of or before any arbitrator or Governmental Authority is pending or, to the
knowledge of the Guarantor, threatened by or against the Guarantor or against any of the Guarantor’s properties or revenues with respect to this Guarantee or any of the transactions contemplated hereby; and 
 (f) except as disclosed in writing to the Buyer prior to the date hereof, the Guarantor has filed or caused to be filed all tax returns which, to the
knowledge of the Guarantor, are required to be filed and has paid all taxes shown to be due and payable on said returns or on any assessments made against him or any of the Guarantor’s property and all other taxes, fees or other charges imposed
on him or any of the Guarantor’s property by any Governmental Authority (other than any the amount or validity of which are currently being contested in good faith by appropriate proceedings); no tax lien has been filed, and, to the knowledge
of the Guarantor, no claim is being asserted, with respect to any such tax, fee or other charge. 
 Each Guarantor agrees that the foregoing
representations and warranties shall be deemed to have been made by such Guarantor on the date of each Transaction under the Repurchase Agreement, on and as of such date of the Transaction, as though made hereunder on and as of such date.

  

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 9. Covenants. 
 (a) Name and Business Location Changes. Each Guarantor covenants and agrees that such Guarantor will not change its legal name or primary place of business without having provided to the Buyer at least thirty
(30) day’s prior written notice of any such change. 
 (b) Limitation on Distributions. Neither Guarantor shall declare or
make any payment on account of, or set apart assets for, a sinking or other analogous fund for the purchase, redemption, defeasance, retirement or other acquisition of any equity or partnership interest of Seller, whether now or hereafter
outstanding, or make any other distribution in respect thereof, either directly or indirectly, whether in cash or property or in obligations of Seller, except, so long as no Default, Event of Default or Margin Deficit shall have occurred and
be continuing, either Guarantor may make such payments solely to the extent necessary to preserve the status of the Parent as a REIT. 
 (c)
Maintenance of Ratio of Consolidated Total Indebtedness to Consolidated Total Assets. At no time shall the ratio of Parent’s Consolidated Total Indebtedness to Parent’s Consolidated Total Assets for the immediately preceding fiscal
quarter be greater than 0.85 to 1.00. 
 (d) Minimum Liquidity Requirement. At no time on or before March 31, 2008 shall the
consolidated Liquidity of Parent be less than $5,000,000, and at no time on or after April 1, 2008 shall the consolidated Liquidity of Parent be less than $10,000,000. 
 (e) Fixed Charge Coverage Ratio. At no time shall the consolidated Fixed Charge Coverage Ratio of Parent for the immediately preceding fiscal
quarter be less than 1.20 to 1.00. 
 (f) Minimum Consolidated Tangible Net Worth. At no time shall the Consolidated Tangible Net
Worth of Parent at the end of the last day of the immediately preceding fiscal quarter be less than the sum of (x) $250,000,000, and (y) seventy-five percent (75%) of the net proceeds from the issuance by Parent or any Subsidiary
thereof of any of any Capital Stock of any class (whether in a public offering or a private placement) subsequent to the Parent’s initial IPO. 
 (g) Prohibition on Additional Indebtedness. Neither Guarantor shall at any time incur any Indebtedness in excess of the sum of: (i) $1,000,000, (ii) customary and standard construction trade payables incurred by Guarantors
in the ordinary course of business, and (iii) Indebtedness owed to Buyer. 
 (h) Buy Back of Capital Stock. Neither Guarantor
shall buy back any of its Capital Stock while this Guarantee remains in effect. 
 (i) REIT Status. The Parent shall at all times
continue to be (i) qualified as a real estate investment trust as defined in Section 856 of the Code, (ii) entitled to a dividends paid deduction under Section 857 of the code with respect to dividends paid by it with respect to
each taxable year for which it claims a deduction on its FORM 1120-REIT filed with the United States Internal Revenue Service for such year. 
  

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 (j) Publicly Traded Company. From and after the date of their initial public offering, the Parent
shall at all times be a publicly traded company listed, quoted or traded on the New York Stock Exchange, NASDAQ or any such other nationally recognized stock exchange. 
 (k) Interest Rate Protection Agreements. Each Guarantor which is from time to time party to any Interest Rate Protection Agreement related to any Purchased Asset shall make, or cause to be made, all payments
from time to time due and payable by such Guarantor under such Interest Rate Protection Agreement directly into the Collection Account as contemplated under Section 5.01 of the Repurchase Agreement. 
 (l) Internalization of Management. Neither Guarantor shall internalize its management without the prior written consent of Buyer; provided,
however, that all such consent requests will be responded to by Buyer in a reasonable manner and within five (5) days after the receipt thereof from Guarantor, and provided, further, that such consent shall be granted by Buyer so
long as (1) no Margin Deficit, Default or Event of Default exists, (2) such Guarantor shall, at the time of such internalization, and will continue after such internalization to meet all covenants, conditions, representations and
warranties, whether financial or otherwise, as set forth in any of the Repurchase Documents, and (3) such Guarantor delivers to Buyer a fairness opinion, in form and substance acceptable to Buyer, provided by a nationally recognized expert in
the related field acceptable to Buyer. 
 10. Severability. Any provision of this Guarantee which is prohibited or unenforceable in
any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not
invalidate or render unenforceable such provision in any other jurisdiction. 
 11. Paragraph Headings. The paragraph headings used in
this Guarantee are for convenience of reference only and are not to affect the construction hereof or be taken into consideration in the interpretation hereof. 
 12. No Waiver; Cumulative Remedies. The Buyer shall not by any act (except by a written instrument pursuant to paragraph 14 hereof), delay, indulgence, omission or otherwise be deemed to have waived any right
or remedy hereunder or to have acquiesced in any default or event of default or in any breach of any of the terms and conditions hereof. No failure to exercise, nor any delay in exercising, on the part of the Buyer, any right, power or privilege
hereunder shall operate as a waiver thereof. No single or partial exercise of any right, power or privilege hereunder shall preclude any other or further exercise thereof or the exercise of any other right, power or privilege. A waiver by the Buyer
of any right or remedy hereunder on any one occasion shall not be construed as a bar to any right or remedy which the Buyer would otherwise have on any future occasion. The rights and remedies herein provided are cumulative, may be exercised singly
or concurrently and are not exclusive of any rights or remedies provided by law. 
 13. Waivers and Amendments; Successors and Assigns;
Governing Law. None of the terms or provisions of this Guarantee may be waived, amended, supplemented or otherwise modified except by a written instrument executed by each Guarantor and the Buyer, 

  

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provided that, subject to any limitations set forth in the Repurchase Agreement, any provision of this Guarantee may be waived by the Buyer in a letter or
agreement executed by the Buyer or by telex or facsimile transmission from the Buyer. This Guarantee shall be binding upon the heirs, personal representatives, successors and assigns of the Guarantors and shall inure to the benefit of the Buyer, and
their respective successors and assigns. THIS GUARANTEE SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
 14. Notices. Notices by the Buyer to any Guarantor may be given by mail, or by telecopy transmission, addressed to such Guarantor at the address or transmission number set forth under its signature below and
shall be effective (a) in the case of mail, five days after deposit in the postal system, first class certified mail and postage pre-paid, (b) one Business Day following timely delivery to a nationally recognized overnight courier service
for next Business Day delivery and (c) in the case of telecopy transmissions, when sent, transmission electronically confirmed. 
 15.
SUBMISSION TO JURISDICTION; WAIVERS. EACH GUARANTOR HEREBY IRREVOCABLY AND UNCONDITIONALLY: 
 (A) SUBMITS FOR THE GUARANTOR AND THE
GUARANTOR’S PROPERTY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS GUARANTEE AND THE OTHER LOAN DOCUMENTS TO WHICH THE GUARANTOR IS A PARTY, OR FOR RECOGNITION AND ENFORCEMENT OF ANY JUDGMENT IN RESPECT THEREOF, TO THE NON-EXCLUSIVE
GENERAL JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK, THE COURTS OF THE UNITED STATES OF AMERICA FOR THE SOUTHERN DISTRICT OF NEW YORK, AND APPELLATE COURTS FROM ANY THEREOF; 
 (B) CONSENTS THAT ANY SUCH ACTION OR PROCEEDING MAY BE BROUGHT IN SUCH COURTS AND WAIVES ANY OBJECTION THAT THE GUARANTOR MAY NOW OR HEREAFTER HAVE TO
THE VENUE OF ANY SUCH ACTION OR PROCEEDING IN ANY SUCH COURT OR THAT SUCH ACTION OR PROCEEDING WAS BROUGHT IN AN INCONVENIENT COURT AND AGREES NOT TO PLEAD OR CLAIM THE SAME; 
 (C) AGREES THAT SERVICE OF PROCESS IN ANY SUCH ACTION OR PROCEEDING MAY BE EFFECTED BY MAILING A COPY THEREOF BY REGISTERED OR CERTIFIED MAIL (OR ANY
SUBSTANTIALLY SIMILAR FORM OF MAIL), POSTAGE PREPAID, TO THE GUARANTOR AT THE GUARANTOR’S ADDRESS SET FORTH UNDER THE GUARANTOR’S SIGNATURE BELOW OR AT SUCH OTHER ADDRESS OF WHICH THE BUYER SHALL HAVE BEEN NOTIFIED; AND 
 (D) AGREES THAT NOTHING HEREIN SHALL AFFECT THE RIGHT TO EFFECT SERVICE OF PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR SHALL LIMIT THE RIGHT TO SUE
IN ANY OTHER JURISDICTION. 
  

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 16. Integration. This Guarantee represents the agreement of each Guarantor with respect to the
subject matter hereof and there are no promises or representations by the Buyer relative to the subject matter hereof not reflected herein. 
 17. Acknowledgments. Each Guarantor hereby acknowledges that: 
 (a) Guarantor has been advised by counsel in the negotiation,
execution and delivery of this Guarantee and the related documents; 
 (b) the Buyer has no fiduciary relationship to Guarantor, and the
relationship between the Buyer and Guarantor is solely that of surety and creditor; and 
 (c) no joint venture exists between or among any
of the Buyer, the Guarantors and the Seller. 
 18. WAIVERS OF JURY TRIAL. EACH OF THE GUARANTORS AND THE AGENT HEREBY IRREVOCABLY
AND UNCONDITIONALLY WAIVES TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS GUARANTEE OR ANY RELATED DOCUMENT AND FOR ANY COUNTERCLAIM HEREIN OR THEREIN. 
 [SIGNATURES COMMENCE ON THE FOLLOWING PAGE] 
  

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 IN WITNESS WHEREOF, the undersigned has caused this Guarantee Agreement to be duly executed and delivered
as of the date first above written. 
  

			
	 CBRE REALTY FINANCE, INC., a
 Maryland
corporation

		
	By:	 	 /s/ Michael Angerthal

	Name:	 	Michael Angerthal
	Title:	 	CFO, Executive VP and Treasurer
	
	Address for Notices:
	
	 City Place I, 37th Floor, 185 Asylum Street,
 Hartford, CT 06103
 Telecopy: (860) 275-6225
 Attention:
Ann Marie O’Rourke

 IN WITNESS WHEREOF, the undersigned has caused this Guarantee Agreement to be duly executed and delivered
as of the date first above written. 
  

			
	CBRE REALTY FINANCE HOLDINGS,
        LLC, a Delaware limited liability company
		
	By:	 	 /s/ Michael Angerthal

	Name:	 	Michael Angerthal
	Title:	 	Managing Director
	
	Address for Notices:
	
	City Place I, 37th Floor, 185 Asylum Street,
	Hartford, CT 06103
	 Telecopy: (860) 275-6225
 Attention: Ann
Marie O’RourkeSECOND AMENDED AND RESTATED EMPLOYMENT AGREEMENT

 Exhibit 10.1 
 SECOND AMENDED AND RESTATED EMPLOYMENT AGREEMENT 
 This Second Amended and Restated Employment Agreement (the “Agreement”) made as of this 1st day of February, 2008, between PerkinElmer,
Inc., a Massachusetts corporation (hereinafter called the “Company”), and Robert F. Friel (hereinafter referred to as the “Employee”). 
 WITNESSETH: 
 WHEREAS, the Employee is
employed by the Company in a management position pursuant to an Amended and Restated Employment Agreement effective as of the 8th day of January, 2004 (the
“First Restated Agreement”); and 
 WHEREAS, the Employee and the Company wish to amend and restate the First Restated
Agreement, with this Agreement to supersede all prior agreements between the parties; 
 NOW, THEREFORE, in consideration of the sum of One
Dollar, and of the mutual covenants herein contained, the parties agree as follows: 
  

					
	1.	    	(a)	  	Except as hereinafter otherwise provided, the Company agrees to employ the Employee as the Chief Executive Officer and President of the Company, and the Employee agrees to remain in the
employment of the Company in that capacity for a period of one year from the date hereof and from year to year thereafter until such time as this Agreement is terminated.

  

	 	(b)	The Company will, during each year of the term of this Agreement, place in nomination before the Board of Directors of the Company the name of the Employee for election as the Chief
Executive Officer and President of the Company except when a notice of termination has been given in accordance with Paragraph 5(b). 

  

	2.	The Employee agrees that, during the specified period of employment, he shall, to the best of his ability, perform his duties, and shall devote his full business time, best efforts,
business judgment, skill and knowledge to the advancement of the Company and its interests and to the discharge of his duties and responsibilities hereunder. The Employee shall not engage in any business, profession or occupation which would
conflict with the rendition of the agreed-upon services, either directly or indirectly, without the prior approval of the Board of Directors, except for personal investment, charitable and philanthropic activities. 

  

	3.	During the period of his employment under this Agreement, the Employee shall be compensated for his services as follows: 

  

	 	(a)	Except as otherwise provided in this Agreement, he shall be paid a salary during the period of this Agreement at a base rate to be determined by the Company on an annual basis.
Except as provided in Paragraph 3(d), such annual base salary shall under no circumstances be fixed at a rate below the annual base rate then currently in effect. 

	 	(b)	He shall be reimbursed for any and all monies expended by him in connection with his employment for reasonable and necessary expenses on behalf of the Company in accordance with the
policies of the Company then in effect. 

  

	 	(c)	He shall be eligible to participate under any and all bonus, benefit, pension (including supplemental executive retirement (“SERP”)), compensation, and equity and
incentive plans which are, in accordance with Company policy and the terms of the plan, available to persons in his position (within the limitation as stipulated by such plans). Such eligibility shall not automatically entitle him to participate in
any such plan. 

  

	 	(d)	If, because of adverse business conditions or for other reasons, the Company at any time puts into effect salary reductions applicable at a single rate to all management employees
of the Company generally, the salary payments required to be made under this Agreement to the Employee during any period in which such general reduction is in effect may be reduced by the same percentage as is applicable to all management employees
of the Company generally. Any benefits made available to the Employee which are related to base salary shall also be reduced in accordance with any salary reduction. 

  

					
	4.	    	(a)	  	During the period of employment by the Company, and thereafter for the longer of one year or any period during which the Company shall pay Employee severance benefits under this Agreement, the
Employee will not directly or indirectly: (i) as an individual proprietor, partner, stockholder, officer, employee, director, joint venturer, investor, lender, or in any other capacity whatsoever (other than as the holder of not more than one
percent (1%) of the total outstanding stock of a publicly held company), engage directly or indirectly in any business or entity which competes with the business conducted by the Company or its affiliates in any city or geographic area in which
the company or its affiliates conduct material operations at the time of termination of employment under this Agreement, except as approved in advance by the Board after full and adequate disclosure; or (ii) recruit, solicit or induce, or
attempt to induce, any employee or employees of the company to terminate their employment with, or to otherwise cease their relationship with, the Company; or (iii) solicit, divert or take away, or attempt to divert or to take away, the
business or patronage of any of the clients, customers or accounts, of the Company.

  

	 	(b)	If any restriction set forth in this Paragraph 4 is found by any court of competent jurisdiction to be unenforceable because it extends for too long a period of time or over too
great a range of activities or in too broad a geographical area, it shall be interpreted to extend only over the maximum period of time, range of activities or geographic area as to which it may be enforceable. 

  

	 	(c)	The restrictions contained in this Paragraph 4 are necessary for the protection of the business and goodwill of the Company and are considered by the Employee to be reasonable for
such purpose. The Employee agrees that any breach of this Paragraph 4 will cause the Company substantial and irrevocable damage and 

  

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 Employment Agreement 

	 	 
therefore, in the event of any such breach, in addition to such other remedies which may be available, the Company shall have the right to seek specific
performance and injunctive relief. 

  

	 	(d)	The Employee acknowledges that he has signed and is bound by the Employee Patent and Proprietary Information Utilization Agreement attached hereto. 

  

	 	(e)	During the period of his employment by the Company or for any period during which the Company shall continue to pay the Employee his salary under this Agreement, whichever shall be
longer, the Employee shall not in any way whatsoever aid or assist any party seeking to cause, initiate or effect a Change in Control of the Company as defined in Paragraph 6 without the prior approval of the Board of Directors.

  

	5.	Except for the Employee covenants set forth in Paragraph 4, which covenants shall remain in effect for the periods stated therein, and subject to Paragraph 6, this Agreement shall
terminate upon the happening of any of the following events and (except as provided herein) all of the Company’s obligations under this Agreement, including, but not limited to, making payments to the Employee shall cease and terminate:

  

	 	(a)	On the effective date set forth in any resignation submitted by the Employee and accepted by the Company, or if no effective date is agreed upon, the date of receipt of such
resignation letter. 

  

	 	(b)	At the death of the Employee. 

  

	 	(c)	At the termination of the Employee for cause. As used in the Agreement, the term “cause” shall mean: 

  

	 	(i)	Misappropriating any funds or property of the Company; 

  

	 	(ii)	Unreasonable refusal to perform the duties assigned to him under this Agreement; 

  

	 	(iii)	Conviction of a felony; 

  

	 	(iv)	Continuous conduct bringing notoriety to the Company and having an adverse effect on the name or public image of the Company; 

  

	 	(v)	Violation of the Employee’s covenants as set forth in Paragraph 4 above; or 

  

	 	(vi)	Continued failure by the Employee to observe any of the provisions of this Agreement after being informed of such breach. 

  

	 	(d)	At termination of the Employee by the Company without cause. 

  

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 Employment Agreement 

	 	(e)	Twelve months after written notice of termination (a “Disability Termination Notice”) is given by the Company to the Employee based on a determination by the Board of
Directors that the Employee is disabled (which, for purposes of this Agreement, shall mean that the Employee is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be
expected to result in death or can be expected to last for a continuous period of not less than twelve months, with such determination to be made by the Board of Directors, in reliance upon the opinion of the Employee’s physician or upon the
opinion of one or more physicians selected by the Company). A Disability Termination Notice shall be deemed properly delivered if given by the Company to the Employee on the 180th day of disability of the Employee. Notwithstanding the foregoing, if,
during the twelve-month period following proper delivery of a Disability Termination Notice as aforesaid, the Employee is no longer disabled and is able to return to work, such Disability Termination Notice shall be deemed automatically rescinded
upon the Employee’s return to work, and the employment of the Employee shall continue in accordance with the terms of this Agreement. During the first 180 days of continuous disability of the Employee, the Company will make monthly payments to
the Employee in an amount equal to the difference between his base salary and the benefits received by the Employee under the Company’s Short-Term Disability Income Plan. During the twelve-month period following proper delivery of a Disability
Termination Notice as aforesaid, the Company will make monthly payments to the Employee in an amount equal to the difference between his base salary and the benefits provided by the Company’s Long-Term Disability Plan. If any payments to the
Employee under the Company’s Long-Term Disability Plan are not subject to federal income taxes, the payments to be made directly by the Company pursuant to the preceding sentence shall be reduced such that the total amount received by the
Employee (from the Company and from the Long-Term Disability Plan), after payment of any income taxes, is equal to the amount that the Employee would have received had he been paid his base salary, after payment of any income taxes on such base
salary. 

  

	 	(f)	 Notwithstanding the foregoing provisions, in the event of the termination of the Employee by the Company without cause pursuant to Paragraph 5(d), the Employee
shall, for a period of two years from the date of such termination, (i) continue to receive his Full Salary (as defined below), which shall be payable in accordance with the payment schedule in effect immediately prior to his employment
termination, and (ii) continue to be entitled to participate in all employee benefit plans and arrangements of the Company (such as life, health and disability insurance and automobile arrangements but excluding qualified retirement plans,
incentive arrangements and grants of equity awards) to the same extent (including coverage of dependents, if any) and upon the same terms as were in effect immediately prior to his termination. In the event of the termination of the Employee by the
Company without cause, the Employee’s vested option awards shall remain exercisable through the period ending on the earlier of (A) the first anniversary of the date the Employee’s employment with the Company terminates, or
(B) the expiration of the original term of the option. 

  

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 Employment Agreement 

	 	 
In addition, effective on the date of the Employee’s termination by the Company without cause, the Employee shall, for purposes of calculating the
amount of his benefit payable under the SERP pursuant to Paragraph 5.1 thereof, be credited with two additional years of “credited service.” For purposes of this Agreement, “Full Salary” shall mean the Employee’s annual base
salary, plus the amount of any bonus or incentive payments (excluding payments under the Company’s long-term incentive program) earned or received by the Employee with respect to the last full fiscal year of the Company for which all bonus or
incentive payments (excluding payments under the Company’s long-term incentive program) to be made have been made. 

  

	 	(g)	In the event of a termination of employment pursuant to Paragraph 5(a), (b) or (c), the Company shall pay the Employee his full salary through the date of termination of
employment. 

  

					
	6.	    	(a)	  	In the event of a Change in Control of the Company (as defined below),

  

	 	(i)	The provisions of this Agreement shall be amended as follows: 

  

	 	(A)	Paragraph 1(a) shall be amended to read in its entirety as follows: 

 “Except as hereinafter otherwise provided, the Company agrees to continue to employ the Employee in the position of Chief Executive Officer and President of the Company, and the Employee agrees to remain in the
employment in the Company in that capacity, for a period of three (3) years from the date of the Change in Control. Except as provided in Paragraph 3d, the Employee’s salary as set forth in Paragraph 3a and his other employee benefits
pursuant to the plans described in Paragraph 3c shall not be decreased during such period.” 
  

	 	(B)	Paragraph 5(a) shall be amended by the addition of the following provision at the end of such paragraph: 

 “provided that the Employee agrees not to resign, except for Good Reason (as defined below), during the one-year period following the date of the
Change in Control.” 
  

	 	(C)	Paragraph 5(f) shall be amended to read in its entirety as follows: 

 “Notwithstanding the foregoing provisions, if, within 36 months following the occurrence of a Change in Control, the Employee’s employment by the Company is terminated (i) by the Company 

  

 5 
 Employment Agreement 

 
other than for Cause, which shall not include any failure to perform his duties hereunder after giving notice or termination for Good Reason, disability or
death or (ii) by the Employee for Good Reason, (A) the Company shall pay to the Employee, on the date of his employment termination, a lump sum cash payment in an amount equal to the sum of (x) his unpaid base salary through the date
of termination, (y) a pro rata portion of his prior year’s bonus and (z) his Full Salary (as defined below) multiplied by three (provided, however, that if the Change in Control is not described in Section 409(a)(2)(v), such
payment shall be made on the same schedule as provided in Paragraph 5(f) prior to the application of this Paragraph 6), and (B) the Employee shall for 36 months following such termination of employment be eligible to participate in all employee
benefit plans and arrangements of the Company (such as life, health and disability insurance and automobile arrangements but excluding qualified retirement plans, incentive arrangements and grants of equity awards) to the same extent (including
coverage of dependents, if any) and upon the same terms as were in effect immediately prior to the Change in Control to the extent the Employee was then eligible to participate in such benefit plans and arrangements of the Company. For purposes of
this Agreement, “Full Salary” shall mean the Employee’s then current annual base salary, plus the amount of any bonus or incentive payments excluding the cash portion of the Company’s long-term incentive program) received by the
Employee with respect to the last full fiscal year of the Company prior to the Change in Control for which all bonus or incentive payments (excluding the cash portion of the Company’s long-term incentive program) to be made have been
made.” 
  

	 	(D)	Paragraph 8 shall be amended to read in its entirety as follows: 

 “The Employee may pursue any lawful remedy he deems necessary or appropriate for enforcing his rights under this Agreement following a Change in Control of the Company, and all costs incurred by the Employee in connection therewith
(including without limitation attorneys’ fees) shall be promptly 

  

 6 
 Employment Agreement 

 
reimbursed to him by the Company, regardless of the outcome of such endeavor.” 
  

	 	(ii)	The Employee’s outstanding restricted stock, option awards, or similar equity awards shall fully vest, and the vested option awards shall remain exercisable through the period
ending on the earlier of: 

  

	 	(A)	the later of (I) the third anniversary of the Change in Control or (II) the first anniversary of the date the Employee’s employment with the Company terminates, or

  

	 	(B)	the expiration of the original term of the option. 

  

	 	(iii)	The Employee shall become fully vested in the SERP and, for purposes of calculating the amount of his benefit payable under the SERP pursuant to Paragraph 5.1 thereof, shall be
credited with three additional years of “credited service.” 

  

	 	(iv)	 Payments under this Agreement or any other plan or arrangement covering the Employee shall be made without regard to whether the deductibility of such payments (or
any other “parachute payments,” as that term is defined in Section 280G of the Internal Revenue Code of 1986, as amended (the “Code”), to or for the benefit of the Employee) would be limited or precluded by Section 280G
and without regard to whether such payments (or any other “parachute payments” as so defined in said Section 280G) would subject the Employee to the federal excise tax levied on certain “excess parachute payments” under
Section 4999 of the Code (the “Excise Tax”). The Employee shall be entitled to receive one or more payments (each, a “Gross-Up Payment”) which shall be an amount equal to the sum of (a) the Excise Tax imposed on any
parachute payment, whether or not payable under this Agreement, and (b) the amount necessary to pay all additional taxes imposed on (or economically borne by) the Employee (including the Excise Tax, state and federal income taxes and all
applicable withholding taxes) attributable to the receipt of a Gross-Up Payment, computed assuming the application of the maximum tax rates provided by law, so that after the payment of all applicable income taxes and excise taxes, the Employee will
be in the same economic position in which he would have been if the Excise Tax had not been applicable. The determination of a Gross-Up Payment shall be made at the Company’s expense by the Company’s independent auditors or by such other
certified public accounting firm as the Board of Directors of the Company may designate prior to a Change in Control of the Company. A Gross-Up Payment shall be made at least 14 business days in advance of the due date of any Excise Tax, except that
any Gross-Up Payment related to payments pursuant to Paragraph 6(a)(i)(D) shall be made upon termination of employment. In the event of any underpayment or overpayment under this Paragraph 6(a)(iv) as determined by the Company’s independent
auditors 

  

 7 
 Employment Agreement 

	 	 
(or such other firm as may have been designated in accordance with the preceding sentence), the amount of such underpayment or overpayment shall forthwith be
paid to the Employee or refunded to the Company, as the case may be, with interest at the applicable federal rate provided for in Section 7872(f)(2) of the Code; provided, however, in no event shall any reimbursement of the Employee for an
underpayment be made later than the end of the calendar year following the calendar year in which the Employee remits the related taxes to the applicable governmental authority. The provisions for Gross-Up Payment in this Paragraph 6(a)(iv) shall
apply regardless of whether or not the Employee has terminated employment with the Company. 

  

	 	(b)	For purposes of this Agreement, a “Change in Control of the Company” means an event or occurrence set forth in any one or more of clauses (i) through (iv) below
(including an event or occurrence that constitutes a Change in Control under one or such clauses but is specifically exempted from another such clause): 

  

	 	(i)	the acquisition by an individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”) (a “Person”) of beneficial ownership of any capital stock or the Company if, after such acquisition, such Person beneficially owns (within the meaning of Rule 13d-3 promulgated under the Exchange Act) 20% or more of either
(A) the then-outstanding shares of common stock of the Company (the “Outstanding Company Common Stock”) or (B) the combined voting power of the then-outstanding securities of the Company entitled to vote generally in the election
of directors (the “Outstanding Company Voting Securities”); provided, however, that for purposes of this paragraph (i), none of the following acquisitions of Outstanding Company Common Stock or Outstanding Company Voting Securities shall
constitute a Change in Control: (I) any acquisition directly from the Company (excluding an acquisition pursuant to the exercise, conversion or exchange of any security exercisable for, convertible into or exchangeable for common stock or
voting securities of the Company, unless the Person exercising, converting or exchanging such security acquired such security directly from the Company or an underwriter or agent of the Company), (II) any acquisition by the Company, (III) any
acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company, or (IV) any acquisition by any corporation pursuant to a transaction which complies with subclauses
(A) and (B) of clause (iii) of this Paragraph 6(b); or 

  

	 	(ii)	 such time as the Continuing Directors (as defined below) do not constitute a majority of the Board (or, if applicable, the Board of Directors of a successor
corporation to the Company), where the term “Continuing Director” means at any date a member of the Board (A) who was a member of the Board on the date of the execution of this Agreement or 

  

 8 
 Employment Agreement 

	 	 
(B) who was nominated or elected subsequent to such date by at least a majority of the directors who were Continuing Directors at the time of such
nomination or election or whose election to the Board was recommended or endorsed by at least a majority of the directors who were Continuing Directors at the time of such nomination or election; provided, however, that there shall be excluded from
this clause (B) any individual whose initial assumption of office occurred as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or
consents, by or on behalf of a person other than the Board; or 

  

	 	(iii)	the consummation of a merger, consolidation, reorganization, recapitalization or statutory share exchange involving the Company, or a sale or other disposition of all or
substantially all of the assets of the Company (a “Business Combination”), unless, immediately following such Business Combination, each of the following two conditions is satisfied: (A) all or substantially all of the individuals and
entities who were the beneficial owners of the Outstanding Company Common Stock and Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than 50% of the then-outstanding
shares of common stock and the combined voting power of the then-outstanding securities entitled to vote generally in the election of directors, respectively, of the surviving, resulting or acquiring corporation in such Business Combination (which
shall include, without limitation, a corporation which as a result of such transaction owns the Company or substantially all of the Company’s assets either directly or through one or more other entities) (such resulting or acquiring corporation
is referred to herein as the “Acquiring Corporation”) in substantially the same proportions as their ownership, immediately prior to such Business Combination, of the Outstanding Company Stock and Outstanding Company Voting Securities,
respectively; and (B) no Person beneficially owns, directly or indirectly, 20% or more of the then outstanding shares of common stock of the Acquiring Corporation, or of the combined voting power of the then outstanding securities of such
corporation entitled to vote generally in the election of directors (except to the extent that such ownership existed prior to the Business Combination); or 

  

	 	(iv)	approval by the stockholders of the Company or a complete liquidation or dissolution of the Company. 

  

	 	(c)	 For purposes of this Agreement, “Good Reason” shall mean the occurrence of any of the following events: (i) a material diminution in the
Employee’s base salary except as provided in Paragraph 3(d); (ii) a failure by the Company to pay annual cash bonuses to the Employees in an amount at least equal to the most recent annual cash bonuses paid to the Employee; (iii) a
failure by the Company to maintain in effect any material compensation or benefit plan in which the 

  

 9 
 Employment Agreement 

	 	 
Employee participated immediately prior to the Change in Control, unless an equitable arrangement has been made with respect to such plan, or a failure to
continue the Employee’s participation therein on a basis not materially less favorable than existed immediately prior to the Change in Control; (iv) any material diminution in the Employee’s position, duties, authorities,
responsibilities or title as in effect immediately prior to the Change in Control; (v) any requirement by the Company that the location at which the Employee performs his principal duties be changed to a new location outside a radius of 25
miles from the Employee’s principal place of employment immediately prior to the Change in Control; or (vi) the failure of the Company to obtain the agreement, in a form reasonably satisfactory to the Employee, from any successor to the
Company to assume and agree to perform this Agreement. The Employee shall provide notice to the Company of the existence of the condition upon which Employee bases his claim for Good Reason within 90 days of the initial existence of the condition.
If the condition is capable of being corrected, the Company shall have 30 days during which it may remedy the condition. If the condition is fully remedied with such time period, the Company shall not owe the amounts otherwise required to be paid
under this Paragraph 6. The Employee’s right to terminate his employment for Good Reason shall not be affected by his incapacity due to physical or mental illness. 

  

	7.	Neither the Employee nor, in the event of his death, his legal representative, beneficiary or estate, shall have the power to transfer, assign, mortgage or otherwise encumber in
advance any of the payments provided for in this Agreement, nor shall any payments nor assets or funds of the Company be subject to seizure for the payment of any debts, judgments, liabilities, bankruptcy or other actions. 

 

	8.	Any controversy relating to this Agreement and not resolved by the Board of Directors and the Employee shall be settled by arbitration in the City of Boston, Commonwealth of
Massachusetts, pursuant to the rules then obtaining of JAMS, and judgment upon the award may be entered in any court having jurisdiction, and the Board of Directors and Employee agree to be bound by the arbitration decision on any such controversy.
Unless otherwise agreed by the parties hereto, arbitration will be by an arbitrator selected from the panel of JAMS. The full cost of any such arbitration shall be borne by the Company. 

  

	9.	Failure to insist upon strict compliance with any of the terms, covenants, or conditions hereof shall not be deemed a waiver of such term, covenant, or condition, nor shall any
waiver or relinquishment of any right or power hereunder at any one or more times be deemed a waiver or relinquishment of such right or power at any other time or times by either party. 

  

	10.	All notices or other communications hereunder shall be in writing and shall be deemed to have been duly given when delivered personally to the Employee or to the General Counsel of
the Company or when mailed by registered or certified mail to the other party (if to the Company, at 940 Winter Street, Waltham, Massachusetts 02451, attention General Counsel; if to the Employee, at the last known address of the Employee as set
forth in the records of the Company). 

  

 10 
 Employment Agreement 

	11.	This Agreement has been executed and delivered and shall be construed in accordance with the laws of the Commonwealth of Massachusetts. This Agreement is and shall be binding on the
respective legal representatives or successors of the parties, but shall not be assignable except to a successor to the Company by virtue of a merger, consolidation or acquisition of all or substantially all of the assets of the Company. This
Agreement constitutes and embodies the entire understanding and agreement of the parties and, except as otherwise provided herein, there are no other agreements or understandings, written or oral, in effect between the parties hereto relating to the
employment of the Employee by the Company. All previous employment contracts between the Employee and the Company or any of the Company’s present or former subsidiaries or affiliates, including the First Restated Agreement, are hereby canceled
and of no effect. Employee shall have no duty to mitigate the amount of any payments or benefits contemplated by this Agreement. The Company’s obligations to pay or provide the amounts or benefits set forth in this Agreement shall not be
subject to set-off, counterclaim, recoupment, or other reduction except as expressly provided in this Agreement. 

  

	12.	The Company shall require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of the
Company to assume expressly in writing and to agree to perform its obligations under this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place. Failure of the
Company to obtain an assumption of this Agreement prior to the effectiveness of succession shall be a breach of this Agreement. As used in this Agreement, “the Company” shall mean the Company as defined above and any successor to its
business or assets as aforesaid which assumes and agrees to perform this Agreement, whether by operation of law or otherwise. 

  

	13.	The parties intend that payments made pursuant to this Agreement be either exempt from, or compliant with, Section 409A of the Code and the regulations promulgated thereunder
(“Section 409A”), so as not to be subject to the excise tax thereunder. Accordingly, the following provisions shall apply to payments pursuant to this Agreement, notwithstanding any provision to the contrary contained in this Agreement:

  

	 	(a)	Any medical, dental, prescription drug, or other health benefits (collectively, the “Medical Benefits”) that may be required to be provided by the Company under Paragraphs
5 or 6 and that are provided under a so-called “self-insured” benefit plan which is subject to Section 105(h) of the Code shall instead be structured so that on or about the first day of each month for which coverage is to be provided
the Company shall pay to the Employee an amount in cash sufficient to cover the Company’s share of the applicable premium for the Medical Benefits coverage for that month. The Employee’s premium payments to the Company for Medical Benefits
shall be due on the last day of the month to which the coverage relates. The parties intend that the first 18 months of Medical Benefits coverage shall be exempt from the application of Section 409A, and that any remaining payments by the
Company for Medical Benefits shall be considered in compliance with Section 409A; 

  

 11 
 Employment Agreement 

	 	(b)	Any payment of “reimbursements” by the Company to the Employee, any payment of “in-kind benefits” from the Company to the Employee, and any “direct service
recipient payments” made by the Company on the Employee’s behalf for a “limited period of time” (in each case as those terms are used for purposes of Section 409A) shall be exempt from the application of Section 409A;

  

	 	(c)	Except as provided in Paragraphs 13(a) or (b) above, or Paragraph 13(e) below, the remainder of all other payments or benefits that are to be paid or provided by the Company to
the Employee under Paragraphs 5 or 6 shall be paid or provided in accordance with the schedules set forth in Paragraphs 5 or 6, or if none, in accordance with the schedules set forth in the underlying employee benefit plans and arrangements. Each
payment on a payroll date and each monthly payment under Paragraphs 5 and 6 shall be deemed to be a “separate payment” as that term is used for purposes of Section 409A, including the exemptions from Section 409A;

  

	 	(d)	The payments that are to be paid by the Company to the Employee under Paragraphs 5 or 6 which (i) will constitute payments from a “non-qualified deferred compensation
plan” as that term is used for the purposes of Section 409A (after taking into account Paragraphs 13(a) and (b) above and any other exemptions available under Section 409A, including without limitation qualification as a
“short term deferral” within the meaning of Section 409A), (ii) are payable prior to the date that is 6 months after the Employee’s “separation from service” as that term is used for purposes of Section 409A
(“Separation from Service”) (such date hereinafter referred to as the “Delayed Payment Date”), and (iii) do not exceed two (2) times the lesser of (I) or (II) below, shall be paid in accordance with the payment
schedule that would otherwise apply under Paragraphs 5 or 6 in the absence of the application of Section 409A. For purposes of this Paragraph 13(d), “(I)” shall mean the sum of the Employee’s annualized compensation based upon
his annual rate of pay for services provided to the Company for the calendar year preceding the Company’s taxable year in which the Employee had a Separation from Service, and “(II)” shall mean the maximum amount that may be taken
into account under a qualified plan pursuant to Section 401(a)(17) of the Code for the year in which the Employee has a Separation from Service; 

  

	 	(e)	The payments that are otherwise scheduled to be paid to the Employee under Paragraphs 5 or 6 prior to the Delayed Payment Date (determined without regard to this Paragraph 13) that
exceed the amount calculated under Paragraph 13(d) above shall instead be paid by the Company to the Employee in a lump sum (together with interest at the prime rate as published in The Wall Street Journal on the date of Separation from Service) one
day after the Delayed Payment Date (or, if earlier, the death of the Employee); and 

  

	 	(f)	 The amount of expenses eligible for reimbursement to the Employee, and the amount of in-kind benefits provided to the Employee, during any calendar year 

  

 12 
 Employment Agreement 

	 	 
shall not affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other calendar year. 

  

	 	(g)	The Company shall (i) have the right to deduct from any payment under this Agreement any and all taxes determined by the Company to be applicable with respect to such benefits
and (ii) shall have the right to require the Employee to make arrangements satisfactory to satisfy any such withholding obligation that may not be satisfied in full by wage withholding described in (i). 

  

	 	(h)	Except as provided in Section 6(a)(iv), the Employee shall be responsible for all taxes with respect to any payments or benefits hereunder except for the Company’s portion
of any Social Security and Medicare taxes. The Company makes no guarantee regarding the tax treatment of the payments or benefits provided by this Agreement. 

 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 
  

 13 
 Employment Agreement 

 IN WITNESS WHEREOF, the Company has caused its
seal to be hereunto affixed and these presents to be signed by its proper officers, and the Employee has hereunto set his hand and seal this 23rd day of
January, 2008, effective as of the day and year first above written. 
  

							
	(SEAL)	 	PERKINELMER, INC.
			
		 	By:	 	 /s/ G. Robert Tod

		 		 	G. Robert Tod, Chairperson,
		 		 	Compensation Benefits Committee
			
		 	Employee:	 	 /s/ Robert F. Friel

		 		 		 	Robert F. Friel

  

 14 
 Employment Agreement

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