Document:

Exhibit

iHEARTMEDIA, INC. 
 2019 KEY EMPLOYEE RETENTION PLAN
1.Purpose.  This iHeartMedia, Inc. (the “Company”) 2019 Key Employee Retention Plan (as it may be amended, the “Plan”) is designed to align the interests of the Company and certain key employees of the Company Group.
2.Adoption of the Plan.  The Company, intending to be legally bound, hereby adopts the Plan effective as of January 1, 2019 (the “Effective Date”).  The Plan shall be in effect from the Effective Date and shall continue until December 31, 2019 unless earlier terminated in accordance with Section 8(e) before December 31, 2019 (the “Term”). The expiration of the Term shall not in any event reduce or adversely affect any amounts due to any Participant hereunder.
3.General.  The compensation provided under this Plan is intended to be in addition to all other compensation payable to Participants under any employment agreement or incentive plan or program in effect with the Company or any of its direct or indirect subsidiaries; provided, however that, notwithstanding the foregoing, the compensation provided under this Plan is the only cash-based incentive compensation opportunity granted to Participants in respect of 2019. 
4.Definitions.  For purposes of this Plan:
		
	(a)
	“Board” means the Company’s Board of Directors.

(b)“Cause” means “Cause” as defined in any employment agreement between the Participant and the Company or any of its subsidiaries or, if no such agreement exists or such term is not defined therein, “Cause” means: (i) the Participant’s willful breach or habitual neglect of assigned duties by the Company, including compliance with any policy of the Company; (ii) the Participant’s conviction (including any plea of nolo contendere) of any felony or crime involving dishonesty or moral turpitude; (iii) any act of personal dishonesty knowingly taken by the Participant in connection with the Participant’s responsibilities as an employee and intended to result in the Participant’s personal enrichment or the enrichment of any other person or entity; (iv) bad faith conduct that is materially detrimental to the Company; (v) the Participant’s inability to perform the Participant’s duties due to alcohol or illegal drug use; (vi) any act or omission by the Participant which is of substantial detriment to the Company because of the Participant’s intentional failure to comply with any statute, rule or regulation, except any act or omission the Participant believes in good faith to have been in or not opposed to the best interest of the Company (without an intent to gain, directly or indirectly, a profit to which the Participant was not legally entitled) and except that Cause shall not mean bad judgment or negligence other than habitual neglect of duty; or (vii) any other act or failure to act or other conduct which is determined by the Committee, in its sole discretion, to be demonstrably and materially injurious to the Company, monetarily or otherwise.
(c)“Committee” means the Compensation Committee of the Board.
(d)“Company Group” means the Company and its direct and indirect subsidiaries.
(e)“Consolidated OIBDAN” means the following as determined for the applicable Quarter or cumulatively across multiple Quarters (i) operating income of the Company and its consolidated subsidiaries (the “Consolidated Group”) as defined by Generally Accepted Accounting Principles, plus (ii) depreciation expense for the Consolidated Group, plus (iii) amortization expense for the Consolidated Group, plus (iv) impairment charges for the Consolidated Group, plus (v) restructuring expenses for the Consolidated Group (including but not limited to severance, certain bonus compensation identified in the 2019 budget, professional fees incurred in connection with litigation and the Company’s and the other related Debtors’ bankruptcy cases and lease cancellation and renegotiation expenses), plus (vi) rent expenses related to any sale/leaseback transactions for the Consolidated Group and plus (vii) foreign exchange impact.  The Committee shall determine Consolidated OIBDAN for the applicable measurement period within sixty (60) days of the end of the period in a manner consistent with the Company’s past practice and the 2019 budget for determining Consolidated OIBDAN for bonus purposes.
(f) “Disability” means “Disability” as defined in any employment agreement between the Participant and the Company and any of its subsidiaries or, if no such agreement exists or such term is not defined therein, “Disability” means the Participant’s inability to perform, by reason of physical or mental incapacity (i) such Participant’s duties or obligations to the Company or any of its subsidiaries for 180 days in any twelve (12)-month period after taking into account reasonable accommodations as required by applicable law or (ii) in such a manner as to qualify for permanent benefits under the long-term disability insurance policy of any member of the Company Group.
(g)“Good Reason” means “Good Reason” as defined in any employment agreement between the Participant and the Company or any of its subsidiaries or, if no such agreement exists or such term is not defined therein, “Good Reason” means either of the following, in each case, without the Participant’s consent: (i) a reduction of 20% or more of the Participant’s annual base salary as in effect on the Effective Date or as the same may be increased from time to time, or (ii) a relocation of the geographic location of the Participant’s principal place of employment by more than fifty (50) miles from the principal place of business. The occurrence of an event that would otherwise constitute Good Reason will cease to be an event constituting Good Reason, if the Participant does not timely provide notice to the Company within thirty (30) days of the date on which the Participant first becomes aware of the occurrence of that event.  The Company shall have fifteen (15) days following receipt of the Participant’s written notice in which to correct in all material respects the circumstances constituting Good Reason, and the Participant must terminate employment within thirty (30) days following expiration of the Company’s fifteen (15)-day cure period.  Otherwise, any claim of such circumstances constituting “Good Reason” shall be deemed irrevocably waived by the Participant.
(h)“Participant” shall have the meaning ascribed thereto in Section 5 hereof.
(i)“Participation Agreement” means the agreement between the Company and a Participant granting a Participant the opportunity to earn a Quarterly Performance Bonus under this Plan and in the form attached hereto as Schedule B.
(j)“Performance Goals” means, as applicable, the Performance Measures set forth on Schedule A, as follows: 
(i)    Quarterly Threshold Performance Goals; 
(ii)    Quarterly Target Performance Goals; 
(iii)    Quarterly Maximum Performance Goals; 
(iv)    Cumulative Threshold Performance Goals; 
(v)    Cumulative Target Performance Goals; and
(vi)    Cumulative Maximum Performance Goals.
 (i)    “Performance Measure” means the performance metric set forth in a Participant’s Participation Agreement that is used to determine the Participant’s Quarterly Performance Bonus, which shall be Radio Segment OIBDAN (in millions).  
(j)    “Qualifying Termination” means a termination of a Participant’s employment with the Company and its subsidiaries due to death or Disability, by the Company without Cause or by the Participant for Good Reason.
(a)    “Quarter” means each of the following periods: January 1, 2019 through March 31, 2019 (“First Quarter”); April 1, 2019 through June 30, 2019 (“Second Quarter”); July 1, 2019 through September 30, 2019 (“Third Quarter”); and October 1, 2019 through December 31, 2019 (“Fourth Quarter”).
(b)    “Quarterly Performance Bonus” means, in the case of any Participant, the incentive bonus, if any, payable to such Participant under Section 6(b) and, to the extent applicable, Section 6(c) of the Plan in respect of the applicable Quarter, which shall consist of the sum of (i) the Discretionary Component and (ii) the Performance Component earned for such Quarter in accordance with Section 6(a) hereof.
(c)    “Radio Segment OIBDAN” means the following as determined for the applicable Quarter or cumulatively across multiple Quarters: OIBDAN calculated for the Radio Segment only in the same manner as Consolidated OIBDAN minus (i) corporate expenses reclassified to the “corporate segment” for external reporting purposes, plus (ii) Katz OIBDAN reclassified to “other segment” for external reporting purposes.  The Committee shall determine Radio Segment OIBDAN for the applicable measurement period within sixty (60) days of the end of the period in a manner consistent with the Company’s past practice and the 2019 budget for determining Radio Segment OIBDAN for bonus purposes.
(d)    “Section 409A” means Section 409A of the Internal Revenue Code of 1986, as amended, and the regulations promulgated thereunder.
(e)    “Target Bonus” means a Participant’s target bonus amount in respect of each Quarter as set forth in the Participant’s Participation Agreement.  
5.Eligible Participants.  Each person designated by the Committee shall be a Participant under the Plan and eligible to receive a Quarterly Performance Bonus with respect to each Quarter hereunder. 
		
	6.
	Terms of Participation.  

(a)    Each Participant’s Quarterly Performance Bonus shall consist of two components: (i) up to 50% of a Participant’s Target Bonus shall be earned and payable in the discretion of the Company if the Participant is employed at the end of the applicable Quarter (the “Discretionary Component”) and (ii) 50% of a Participant’s Target Bonus shall be earned and payable in accordance with Sections 6(b) and 6(c) hereof (the “Performance Component”).  Notwithstanding anything to the contrary contained herein, the aggregate amount of Quarterly Performance Bonuses that may be paid to all Participants in respect of each Quarter shall not exceed $14,993,042.80 (in each case, the “Aggregate Target”), unless the Company exceeds the target level of Radio Segment OIBDAN for such Quarter.  In the event the Company exceeds the target level of Radio Segment OIBDAN for a Quarter, the Aggregate Target shall be increased to $18,741,303.50 for each Quarter if the Company achieves or exceeds the maximum level of Radio Segment OIBDAN for such Quarter, with the Aggregate Target being determined using straight line interpolation for performance between the target and maximum level of Radio Segment OIBDAN for such Quarter.
(b)    Subject to the provisions of this Plan, each Participant shall earn the Performance Component of a Quarterly Performance Bonus as of the end of each Quarter in an amount as determined in accordance with Schedule A, to the extent an applicable Quarterly Performance Goal has been attained for such Quarter.  Notwithstanding the foregoing but subject to Section 6(a), in the event the Company has not achieved the Quarterly Performance Goals established for a particular Quarter, the Committee may elect to pay some or all of the Performance Component to a Participant as of the end of any Quarter as determined in the Committee’s discretion.  Promptly after the end of each Quarter (but in any event within 60 days of the end of the Quarter), the Committee shall certify the degree to which the applicable Performance Goals have been achieved and the amount payable to each Participant hereunder with respect to the Performance Component.  
(c)    In addition to being measured on a Quarterly basis, each Performance Measure shall be measured cumulatively at the end of each of the Second, Third and Fourth Quarters. 
		
	(i)
	Second Quarter Catch-Up: Subject to the provisions of this Plan, each Participant shall earn, in addition to any portion of the Discretionary Component and any portion of the Performance Component payable for the Second Quarter pursuant to Section 6(b) above, a Performance Component incentive bonus in an amount, if positive, equal to (i) the Quarterly Performance Bonus payable, if any, based on achievement, as applicable, of the Cumulative Threshold Performance Goal or the Cumulative Target Performance Goal, in either case, as of the end of the Second Quarter in an amount as determined in accordance with Schedule A, minus (ii) the aggregate Quarterly Performance Bonuses actually paid or payable to the Participant (other than on a cumulative basis) in respect of the First Quarter and Second Quarter. 

		
	(ii)
	Third Quarter Catch-Up:  Subject to the provisions of this Plan, each Participant shall earn, in addition to any portion of the Discretionary Component and any portion of the Performance Component payable for the Third Quarter pursuant to Section 6(b) above, a Performance Component incentive bonus in an amount, if positive, equal to (i) the Quarterly Performance Bonus payable, if any, based on achievement, as applicable, of the Cumulative Threshold Performance Goal or the Cumulative Target Performance Goal, in either case, as of the end of the Third Quarter in an amount as determined in accordance with Schedule A, minus (ii) the aggregate Quarterly Performance Bonuses actually paid or payable to the Participant (other than on a cumulative basis) in respect of the First Quarter, Second Quarter, and Third Quarter. 

		
	(iii)
	Fourth Quarter Catch-Up:  Subject to the provisions of this Plan, each Participant shall earn, in addition to any portion of the Discretionary Component and any portion of the Performance Component payable for the Fourth Quarter pursuant to Section 6(b) above, a Performance Component incentive bonus in an amount, if positive, equal to (i) the Quarterly Performance Bonus payable, if any, based on achievement, as applicable, of the Cumulative Threshold Performance Goal, the Cumulative Target Performance Goal or the Cumulative Maximum Performance Goal as of the end of the Fourth Quarter in an amount as determined in accordance with Schedule A, minus (ii) the Quarterly Performance Bonuses actually paid or payable to the Participant (other than on a cumulative basis) in respect of the First Quarter, Second Quarter, Third Quarter, and Fourth Quarter. 

Schedule C hereto contains examples of the application of this Section 6(c).
    
(d)    Any Quarterly Performance Bonus required to be paid under this Plan shall be paid on a fully-vested basis by the Company as soon as reasonably practicable after the Certification Date (as defined below), but in any event no later than the sixtieth (60th) day after the end of the applicable Quarter; provided, however, that, notwithstanding the foregoing, any Quarterly Performance Bonus in respect of the Fourth Quarter may only be paid upon the first to occur of (i) the completion of the annual financial statement audit (the “Audit”) and (ii) December 31, 2020 unless the Audit is delayed past February 28, 2020 and the reason for the delay in completing the Audit is the result of open issues that are not expected to impact the calculation(s) of Radio Segment OIBDAN, in which case the Quarterly Performance Bonus shall be paid prior to the completion of the Audit and no later than February 28, 2020. 
(e)    In order to earn a Quarterly Performance Bonus under the Plan in respect of any Quarter, a Participant must remain employed by a member of the Company Group through and including the last day of the applicable Quarter.  A Participant whose employment with the Company Group terminates for any reason other than a Qualifying Termination prior to the last day of the applicable Quarter shall forfeit the right to any Quarterly Performance Bonus in respect of that Quarter. 
(f)    In the event a Participant’s employment with the Company Group terminates due to a Qualifying Termination prior to the end of the applicable Quarter, the Participant shall be paid on a fully-vested basis, a pro rata portion of the Quarterly Performance Bonus that would otherwise be paid in respect of that Quarter, if any, required to be made under the Plan in respect of the applicable Quarter, with such pro rata portion determined based on the number of days the Participant remained an employee of the Company Group during the applicable Quarter.     
7.    Performance Goals.  Promptly after the end of each Quarter (but in any event within 60 days of the end of the Quarter) (such actual date, the “Certification Date”), the Committee shall certify the degree to which the applicable Performance Goals have been achieved or exceeded and the amount, if any, payable to each Participant hereunder subject to the terms and conditions contained herein.   
8.    Plan Administration.  This Plan shall be administered by the Committee.  The Committee is given full authority and discretion within the limits of this Plan to establish such administrative measures as may be necessary to administer and attain the objectives of this Plan and may delegate the authority to administer the Plan (but not to make determinations of Consolidated OIBDAN or Radio Segment OIBDAN) to an officer of the Company.  The Committee shall have full power and authority to construe and interpret this Plan and any interpretation by the Committee shall be final, conclusive and binding on all Participants and shall be accorded the maximum deference permitted by law.  
(a)    All rights and interests of the Participants under this Plan shall be non-assignable and nontransferable, and otherwise not subject to pledge or encumbrance, whether voluntary or involuntary, other than by will or by the laws of descent and distribution.  In the event of any sale, transfer or other disposition of all or substantially all of the Company’s assets or business, whether by merger, stock sale, consolidation or otherwise, the Company may assign this Plan.
(b)    Any payment to a Participant in accordance with the provisions of this Plan shall, to the extent thereof, be in full satisfaction of all claims against the Company Group, and the Company may require that the Participant, as a condition precedent to such payment, execute a receipt and release to such effect.
(c)    Payment of amounts due under the Plan shall be provided to the Participant in the same manner as the Participant receives his or her regular paycheck or by mail at the last known address of the Participant in the possession of the Company, at the discretion of Committee.  The Company will deduct all applicable taxes and any other withholdings required to be withheld with respect to the payment of any award pursuant to this Plan.
(d)    The Company shall not be required to establish any special or separate fund or to make any other segregation of assets to ensure the payment of any award provided for hereunder.  
(e)    The Company, in its sole discretion, shall have the right to amend or terminate this Plan at any time; provided that in no event shall any amendment or termination adversely affect the rights of the Participants regarding any Quarterly Performance Bonus for a Quarter that has commenced as of the date of such action without the prior written consent of the affected Participants; provided, further, that notwithstanding the foregoing, the Company shall have sole discretion to terminate the Plan immediately upon the Effective Date (as defined in the Fifth Amended Joint Plan of Reorganization of iHeartMedia, Inc. and its Debtor Affiliates Pursuant to Chapter 11 of the Bankruptcy Code [Docket No. 1632]), at which time, subject to the provisions of this Plan, each Participant who remains employed by the Company or one of its subsidiaries through the date of such termination of the Plan shall be eligible to earn a pro-rated portion of the Quarterly Performance Bonus for the Quarter in which such termination occurs, based on the number of days elapsed during such Quarter prior to the Effective Date (as defined in the Fifth Amended Joint Plan of Reorganization of iHeartMedia, Inc. and its Debtor Affiliates Pursuant to Chapter 11 of the Bankruptcy Code [Docket No. 1632]) and otherwise in accordance with the terms and conditions of the Plan.  Subject to the foregoing, the Plan shall terminate upon the satisfaction of all obligations of the Company or its successor entities hereunder.  
(f)    Nothing contained in this Plan shall in any way affect the right and power of any member of the Company Group to discharge any Participant or otherwise terminate his or her employment at any time or for any reason or to change the terms of his or her employment in accordance with the terms of his or her employment agreement, as applicable, in any manner.
(g)    Except as otherwise provided under this Plan, any expense incurred in administering this Plan shall be borne by the Company.
(h)    Captions preceding the sections hereof are inserted solely as a matter of convenience and in no way define or limit the scope or intent of any provision hereof.
(i)    The Plan and each Participation Agreement shall be construed, regulated, interpreted and administered according to the laws of the State of Texas, without regard to conflict of law principles.  Any persons or corporations who now are or shall subsequently become parties to the Plan shall be deemed to consent to this provision.
(j)    The Plan is intended to either comply with, or be exempt from, the requirements of Section 409A.  To the extent that the Plan is not exempt from the requirements of Section 409A, the Plan is intended to comply with the requirements of Section 409A and shall be limited, construed and interpreted in accordance with such intent.  Notwithstanding the foregoing, in no event whatsoever shall any member of the Company Group be liable for any additional tax, interest, income inclusion or other penalty that may be imposed on a Participant by Section 409A or for damages for failing to comply with Section 409A.
*     *     *     *     *
IN WITNESS WHEREOF, iHeartMedia, Inc. has caused the Plan to be signed by its duly authorized officer as of the date first set forth above.
IHEART MEDIA, INC.
By:    
Name:    
Its:    

SCHEDULE A
Bonus Amounts, Performance Measures and Goals
Quarters Ending March 31, 2019, June 30, 2019, September 30, 2019 and December 31, 2019:
	
		
	Portion of the Performance Component Payable if Quarterly and/or Cumulative Threshold Performance Goal Achieved:
	50%

	Portion of the Performance Component Payable if Quarterly and/or Cumulative Target Performance Goal Achieved:
	100%

	Portion of the Performance Component Payable if Quarterly and/or Cumulative Maximum Performance Goal Achieved:
	150%

	Portion of the Performance Component Payable if Achievement is Between Quarterly and/or Cumulative Threshold and Maximum Performance Goals (subject to the terms and conditions of Section 6(c):
	Linear interpolation between 50% and 150%

* The applicable percentage for cumulative performance is applied to a Participant’s aggregate Performance Component through the end of the applicable Quarter.

		
	(i)
	Performance Component:    50% of Target Bonus

Performance Measure:    Radio Segment OIBDAN (in Millions) 
	
					
	Quarter Ending:
	March 31, 2019
	June 30, 2019
	September 30, 2019
	December 31, 2019

	Quarterly Threshold Performance Goal
	$145
	$247
	$263
	$298

	Quarterly Target Performance Goal
	$170
	$290
	$309
	$350

	Quarterly Maximum Performance Goal
	$196
	$334
	$355
	$403

	Cumulative Threshold Performance Goal
	N/A
	$391
	$654
	$951

	Cumulative Target Performance Goal
	N/A
	$460
	$769
	$1,119

	Cumulative Maximum Performance Goal
	N/A
	N/A
	N/A
	$1,287

		
	 (ii)
	Discretionary Component:     50% of Target Bonus

SCHEDULE B
TO:    {PARTICIPANT NAME}
FROM:    
DATE:    ______________, 2019
		
	RE:
	Participation Agreement under the iHeartMedia, Inc. 2019 Key Employee Retention Plan

We are pleased to advise you that you will be eligible to receive a Quarterly Performance Bonus pursuant to the iHeartMedia, Inc. (the “Company”) 2019 Key Employee Retention Plan (as it may be amended, the “Plan”).  Terms used herein with initial capital letters have the meanings set forth in the Plan and this Participation Agreement shall be, in all respects, subject to the terms and conditions of the Plan.  A copy of the Plan as in effect of the date hereof has been furnished to you and you agree to be bound by the terms and conditions of the Plan and this Participation Agreement.  In the event of any conflict between the terms and conditions of this Participation Agreement and the Plan, the terms and conditions of the Plan shall control.
		
	1.
	Quarterly Performance Bonus.  Your Target Bonus amount in respect of each Quarter is $___________.

		
	2.
	Quarterly Performance Bonus Performance Measure.  Your Quarterly Performance Bonus payments are calculated as follows:  (i) 50% is based on the achievement of Radio Segment OIBDAN and (ii) 50% is based on the discretion of the Company if you are employed at the end of the applicable Quarter.

		
	3.
	Payment Schedule.  Except as otherwise provided for in Section 6(c) of the Plan with respect to the Fourth Quarter, your Quarterly Performance Bonus amount, if any, will be paid to you on a fully-vested basis by the Company no later than the sixtieth (60th) day after the end of the applicable Quarter and otherwise in accordance with and subject to the terms and conditions of the Plan.

Nothing contained in the Plan shall in any way affect the right and power of any member of the Company Group to discharge or otherwise terminate your employment at any time or for any reason.  Your rights under this Participation Agreement and any interest in or right to the Quarterly Performance Bonus payment, if any, may not be transferred or assigned by you, other than by will or by the laws of descent and distribution. The Company will deduct all applicable taxes and any other withholdings required to be withheld with respect to the payment of any award pursuant to the Plan. 
The Company intends for the Quarterly Performance Bonus payment to either comply with, or be exempt from, the requirements of Section 409A.  To the extent that the Quarterly Performance Bonus is not exempt from the requirements of Section 409A, the Quarterly Performance Bonus is intended to comply with the requirements of Section 409A and shall be limited, construed and interpreted in accordance with such intent.  Notwithstanding the foregoing, in no event whatsoever shall any member of the Company Group be liable for any additional, tax, interest, income inclusion or other penalty that may be imposed on you by Section 409A or for damages for failing to comply with Section 409A.  You are hereby advised to consult immediately with your tax advisor regarding the tax consequences of the Quarterly Performance Bonus payments including, without limitation, any possible tax consequences in connection with Section 409A.
We greatly appreciate your contributions to the Company and look forward to working together with you towards the Company’s future successes.  If you have any questions regarding this Participation Agreement, please contact [ ] in Human Resources at [ ].

IHEART MEDIA, INC.
By:    
Name:    
Its:    

SCHEDULE C
The following examples demonstrate the application of Section 6(c) of the Plan:
		
	Example 1:
	The Company achieves the Quarterly Threshold Performance Goal for the First Quarter. In this case, the Participant would earn 50% of the Performance Component payable in respect of the First Quarter, plus the amount of the Discretionary Component, if any, determined by the Company. 

		
	Example 2:
	Same as in Example 1 and the Company exceeds the Quarterly Target Performance Goal for the Third Quarter such that cumulative performance as of the end of the Third Quarter meets the Cumulative Target Performance Goal for the Third Quarter. In this case, the Participant would earn the Performance Component payable in respect of the Third Quarter based on the percentage achieved over Target for the Third Quarter plus an amount equal to (a) the sum of 100% of the Performance Component for each of the First Quarter, Second Quarter, and Third Quarter minus (b) the sum of the Quarterly Performance Bonus actually paid or payable to the Participant in respect of each of the First Quarter and Second Quarter, and the Performance Component of the Quarterly Performance Bonus payable to the Participant in respect of the Third Quarter. The Participant would also earn the amount of the Discretionary Component, if any, in respect of the Third Quarter determined by the Company.  

		
	Example 3:
	Same as in Example 2 and the Company exceeds the Quarterly Target Performance Goal for the Third Quarter such that cumulative performance as of the end of the Third Quarter exceeds the Cumulative Target Performance Goal for the Third Quarter. In this case, Participants would earn the Performance Component payable in respect of the Third Quarter calculated based on the extent to which the Company exceeds the Quarterly Target Performance Goal for the Third Quarter, plus the Participant would earn an additional amount (if any) equal to (a) the sum of 100% of the Performance Component payable in respect of each of the First Quarter, Second Quarter, and Third Quarter minus (b) the sum of the Performance Component of the Quarterly Performance Bonus actually paid or payable to the Participant in respect of the First Quarter, Second Quarter, and the Performance Component of the Quarterly Performance Bonus payable to the Participant in respect of the Third Quarter.  The Participant would also earn the amount of the Discretionary Component, if any, in respect of the Third Quarter determined by the Company.   

		
	Example 4:
	Same as in Example 3 and the Company exceeds the Quarterly Maximum Performance Goal for the Fourth Quarter to the extent necessary to meet or exceed the Cumulative Maximum Performance Goal for the Fourth Quarter. In this case, Participants would earn 150% of the Performance Component payable in respect of the Fourth Quarter plus an amount equal to (a) the sum of 150% of the Performance Component payable in respect of each of the First Quarter, Second Quarter, and Third and Fourth Quarters minus (b) the sum of the Performance Component of the Quarterly Performance Bonus actually paid or payable to the Participant in respect of  the First Quarter, Second Quarter and Third Quarter and the Performance Component of the Quarterly Performance Bonus payable to the Participant in respect of the Fourth Quarter.  The Participant would also earn the amount of the Discretionary Component, if any, in respect of Fourth Quarter determined by the Company.

     1EX-10.1

 Exhibit 10.1 

EXECUTION VERSION 

INCREMENTAL ASSUMPTION AGREEMENT dated as of March 4, 2019 (this “Agreement”), among CBRE
SERVICES, INC., a Delaware corporation (the “U.S. Borrower”), CBRE LIMITED, a limited company organized under the laws of England and Wales (with company no: 3536032) (the “U.K. Borrower”), CBRE
LIMITED, a corporation organized under the laws of the province of New Brunswick (the “Canadian Borrower”), CBRE PTY LIMITED, a company organized under the laws of Australia and registered in New South Wales (the
“Australian Borrower”), CBRE LIMITED, a company organized under the laws of New Zealand (the “New Zealand Borrower”), CBRE GLOBAL ACQUISITION COMPANY, a société à
responsabilité limitée organized under the laws of the Grand Duchy of Luxembourg, having its registered office at 12C, Impasse Drosbach L-1882 Luxembourg, Grand Duchy of Luxembourg and
registered with the Luxembourg Trade and Companies Register (Registre de Commerce et des Sociétés, Luxembourg) under number B 150.692 (the “Luxembourg Borrower” and, together with the U.S. Borrower, the
U.K. Borrower, the Canadian Borrower, the Australian Borrower and the New Zealand Borrower, the “Borrowers”), CBRE GROUP, INC., a Delaware corporation (“Holdings”), the INCREMENTAL TRANCHE A TERM
LENDERS party hereto, the INCREMENTAL REVOLVING CREDIT LENDERS party hereto and CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as Administrative Agent. 

A. Reference is made to the Credit Agreement dated as of October 31, 2017 (as amended, supplemented or modified prior to the date hereof,
including by that certain Incremental Term Loan Assumption Agreement dated as of December 20, 2018, the “Credit Agreement”), among the Borrowers, Holdings, the lenders from time to time party thereto (the
“Lenders”) and Credit Suisse AG, Cayman Islands Branch, as Administrative Agent for the Lenders. 
 B. Holdings and
the Borrowers have requested that, on the Effective Date (as defined below), (i) the persons set forth on Schedule I hereto (together with their permitted successors and assigns, the “Incremental Tranche A Term Lenders”)
commit (the “Incremental Tranche A Term Loan Commitments”) to make Incremental Term Loans (the “Incremental Tranche A Term Loans”) to the U.S. Borrower in an aggregate principal amount of $300,000,000,
(ii) the persons set forth on Schedule II hereto (together with their permitted successors and assigns, the “Incremental Domestic Revolving Credit Lenders”) provide Incremental Revolving Credit Commitments under the Credit
Agreement (the “Incremental Domestic Revolving Credit Commitments”) to the U.S. Borrower in an aggregate principal amount equal to $2,300,000,000, (iii) the persons set forth on Schedule III hereto (together with their
permitted successors and assigns, the “Incremental Multicurrency Revolving Credit Lenders”) provide Incremental Revolving Credit Commitments under the Credit Agreement (the “Incremental Multicurrency Revolving
Credit Commitments”) to the U.S. Borrower, the Canadian Borrower, the New Zealand Borrower and the Australian Borrower in an aggregate principal amount equal to $200,000,000, (iv) the persons set forth on Schedule IV
hereto (together with their permitted successors and assigns, the “Incremental U.K. Revolving Credit Lenders” and, together with the Incremental 

 
Domestic Revolving Credit Lenders and the Incremental Multicurrency Revolving Credit Lenders, the “Incremental Revolving Credit Lenders”) provide Incremental Revolving
Credit Commitments under the Credit Agreement (the “Incremental U.K. Revolving Credit Commitments” and, together with the Incremental Domestic Revolving Credit Commitments and the Incremental Multicurrency Revolving Credit
Commitments, the “Incremental Revolving Credit Commitments”) to the U.S. Borrower and the U.K. Borrower in an aggregate principal amount equal to $300,000,000. 

C. The Incremental Tranche A Term Lenders are willing to make the Incremental Tranche A Term Loans to the U.S. Borrower and the Incremental
Revolving Credit Lenders are willing to provide the Incremental Revolving Credit Commitments to the applicable Borrower or Borrowers, in each case, on the Effective Date and on the terms and subject to the conditions set forth herein and in the
Credit Agreement. 
 D. It is agreed that each of Wells Fargo Securities, LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated,
JPMorgan Chase Bank, N.A., The Bank of Nova Scotia, HSBC Bank USA, N.A., MUFG Bank, Ltd. and The Royal Bank of Scotland plc will act as joint lead arrangers and joint bookrunners in respect of the incremental facilities established under this
Agreement. 
 Accordingly, in consideration of the mutual agreements herein contained and for other good and valuable consideration, the
sufficiency and receipt of which are hereby acknowledged, the parties hereto agree as follows: 
 SECTION 1. Terms Generally.
The rules of construction set forth in Section 1.02 of the Credit Agreement shall apply mutatis mutandis to this Agreement. This Agreement shall be a “Loan Document” for all purposes of the Credit Agreement and the other Loan
Documents and, to the extent it relates to the making of Incremental Term Loans and the providing of Incremental Revolving Credit Commitments, an “Incremental Assumption Agreement” for all purposes of the Credit Agreement and the other
Loan Documents. Capitalized terms used but not defined herein have the meanings assigned thereto in the Credit Agreement. 
 SECTION 2.
Incremental Term Loans and Incremental Revolving Credit Commitments. (a) On the terms and subject to the conditions set forth herein and in the Credit Agreement and in reliance upon the representations and warranties set forth
herein and in the other Loan Documents, (i) each Incremental Tranche A Term Lender agrees, severally and not jointly, to make, on the Effective Date, an Incremental Tranche A Term Loan to the U.S. Borrower in an aggregate principal amount not
to exceed its Incremental Tranche A Term Loan Commitment and (ii) each Incremental Revolving Credit Lender agrees, severally and not jointly, to provide, on the Effective Date, Incremental Revolving Credit Commitments to the applicable Borrower
or Borrowers in an aggregate principal amount not to exceed its Incremental Revolving Credit Commitments hereunder. Amounts paid or prepaid in respect of the Incremental Tranche A Term Loans may not be reborrowed. 

(b) The Incremental Tranche A Term Loan Commitment of each Incremental Tranche A Term Lender shall automatically terminate upon the earlier of
(i) the making of the Incremental Tranche A Term Loans on the Effective Date and (ii) 5:00 p.m., New York City time, on March 4, 2019. 

  
 2 

 (c) On the Effective Date (i) the U.S. Borrower shall use the proceeds of the
Incremental Tranche A Term Loans solely to prepay the aggregate principal amount of the Tranche A Loans outstanding under the Credit Agreement immediately prior to the Effective Date (the “Existing Tranche A Loans”), (ii) the
Borrowers shall use the proceeds of new Revolving Loans to be made by the Incremental Revolving Credit Lenders in accordance with their Incremental Revolving Credit Commitments, together with cash on hand, to (A) prepay all of the Revolving
Loans outstanding under the Credit Agreement immediately prior to the Effective Date (the “Existing Revolving Loans”) and (B) pay all accrued but unpaid interest on the Existing Tranche A Loans and the Existing Revolving
Loans so prepaid, together with any fees and expenses relating thereto and (iii) all Revolving Credit Commitments in effect under the Credit Agreement immediately prior to the Effective Date shall be terminated and any Letters of Credit
outstanding under such Revolving Credit Commitments shall, as of the Effective Date, be deemed outstanding under the Incremental Revolving Credit Commitments. 

SECTION 3. Funding. To facilitate the funding of the Incremental Tranche A Term Loans on the Effective Date,
(i) each Incremental Tranche A Term Lender with an outstanding Existing Tranche A Loan shall be deemed to have made to the U.S. Borrower an Incremental Tranche A Term Loan on the Effective Date in an aggregate principal amount equal to the
lesser of (x) the aggregate outstanding principal amount of such Lender’s Existing Tranche A Term Loans and (y) the Incremental Tranche A Term Loan Commitment of such Lender set forth on Schedule I hereto and (ii) the U.S.
Borrower shall be deemed to have prepaid on the Effective Date the aggregate outstanding principal amount of Existing Tranche A Loans of such Incremental Tranche A Term Lender; provided that (A) if the Incremental Tranche A Term Loan
Commitment of any Incremental Tranche A Term Lender exceeds the aggregate principal amount of such Lender’s Existing Tranche A Loans, then such Lender shall be required to fund such excess to the U.S. Borrower, through the Administrative Agent,
on the Effective Date, and (B) if the aggregate principal amount of Existing Tranche A Loans of such Lender exceeds the Incremental Tranche A Term Loan Commitment of such Lender, then the U.S. Borrower shall be required to pay such excess to
such Lender, through the Administrative Agent, on the Effective Date, in each case, in immediately available funds and otherwise in accordance with the terms of the Credit Agreement. 

SECTION 4. Terms and Conditions. (a) The Incremental Tranche A Term Loans shall constitute Specified Incremental
Term Loans and Term Loans and the Incremental Tranche A Term Lenders shall be Incremental Term Lenders and Term Lenders for all purposes of the Credit Agreement and the other Loan Documents. As of the Effective Date, the Incremental Tranche A Term
Loans shall have an initial Interest Period as set forth in the applicable Borrowing Request and shall otherwise have the terms set forth in the Credit Agreement as amended by Section 5 below. Section 2.26 of the Credit Agreement shall
apply for the benefit of the Incremental Tranche A Term Loans as if the Incremental Tranche A Term Loans were the Tranche A Loans referred to therein. 

(b) For all purposes of the Credit Agreement and the other Loan Documents, (i) the Incremental Domestic Revolving Credit Commitments
shall constitute Specified Incremental Revolving Credit Commitments and Domestic Revolving Credit Commitments, the Incremental Domestic Revolving Credit Lenders shall be Domestic Revolving Credit Lenders, and Borrowings under the Incremental
Domestic Revolving Credit Commitments shall constitute Domestic Revolving Loans and Revolving Loans, (ii) the Incremental Multicurrency Revolving Credit 

  
 3 

 
Commitments shall constitute Specified Incremental Revolving Credit Commitments and Multicurrency Revolving Credit Commitments, the Incremental Multicurrency Revolving Credit Lenders shall be
Multicurrency Revolving Credit Lenders, and Borrowings under the Incremental Multicurrency Revolving Credit Commitments shall constitute Multicurrency Revolving Loans and Revolving Loans and (iii) the Incremental U.K. Revolving Credit
Commitments shall constitute Specified Incremental Revolving Credit Commitments and U.K. Revolving Credit Commitments, the Incremental U.K. Revolving Credit Lenders shall be U.K. Revolving Credit Lenders, and Borrowings under the Incremental U.K.
Revolving Credit Commitments shall constitute U.K. Revolving Loans and Revolving Loans. As of the Effective Date, the Incremental Domestic Revolving Credit Commitments, the Incremental Multicurrency Revolving Credit Commitments and the Incremental
U.K. Revolving Credit Commitments, and, in each case, the Borrowings thereunder, shall have the terms set forth in the Credit Agreement as amended by Section 5 below and Section 2.25 of the Credit Agreement shall apply for the benefit of
the Incremental Revolving Credit Commitments as if the Incremental Revolving Credit Commitments were the Revolving Credit Commitments referred to therein and the Incremental Revolving Loans as if the Incremental Revolving Loans were the Revolving
Loans referred to therein. 
 SECTION 5. Amendments to the Credit Agreement. As of the Effective Date, the Credit
Agreement is hereby amended as follows: 
 (a) The definition of the term “Applicable Percentage” set forth in
Section 1.01 of the Credit Agreement is hereby amended by replacing the grid that appears therein in its entirety with the grid below: 
  

																													
	 Category
	  	Credit Rating	  	Ticking
Fee	  	Fixed
Rate
Spread
Tranche
A Loans	 	 	Daily
Rate
Spread
Tranche
A Loans	 	 	Fixed
Rate
Spread
Revolving
Loans	 	 	Daily Rate
Spread
Revolving
Loans	 	 	Facility Fee
Revolving
Credit
Commitments	 
	  	S&P	  	Fitch	  	Moody’s
	 Category 1
	  	> A	  	A	  	A2	  	N/A	  	 	0.750	% 	 	 	0.0	% 	 	 	0.680	% 	 	 	0.0	% 	 	 	0.070	% 
	 Category 2
	  	A-	  	A-	  	A3	  	N/A	  	 	0.875	% 	 	 	0.0	% 	 	 	0.785	% 	 	 	0.0	% 	 	 	0.090	% 
	 Category 3
	  	BBB+	  	BBB+	  	Baa1	  	N/A	  	 	1.000	% 	 	 	0.0	% 	 	 	0.900	% 	 	 	0.0	% 	 	 	0.100	% 
	 Category 4
	  	BBB	  	BBB	  	Baa2	  	N/A	  	 	1.150	% 	 	 	0.150	% 	 	 	1.000	% 	 	 	0.0	% 	 	 	0.150	% 
	 Category 5
	  	<
BBB-	  	<
BBB-	  	<
Baa3	  	N/A	  	 	1.250	% 	 	 	0.250	% 	 	 	1.075	% 	 	 	0.075	% 	 	 	0.175	% 

 (b) The definition of the term “Revolving Credit Maturity Date” set forth in
Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety as follows: 
 “Revolving Credit Maturity
Date” shall mean March 4, 2024. 
 (c) The definition of the term “Tranche A Maturity Date” set
forth in Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety as follows: 
 “Tranche A
Maturity Date” shall mean March 4, 2024. 

  
 4 

 (d) Article I of the Credit Agreement is hereby amended by inserting the following text
immediately after the end of Section 1.05 of the Credit Agreement as a new Section 1.06 of the Credit Agreement: 
 SECTION 1.06.
Divisions. For all purposes under the Loan Documents, in connection with any division or plan of division under Delaware law (or any comparable event under a different jurisdiction’s laws): (a) if any asset, right, obligation or liability of
any person becomes the asset, right, obligation or liability of a different person, then it shall be deemed to have been transferred from the original person to the subsequent person, and (b) if any new person comes into existence, such new
person shall be deemed to have been organized on the first date of its existence by the holders of its Equity Interests at such time. 
 (e)
Section 2.22(a) of the Credit Agreement is hereby amended by replacing “$20,000,000” therein with “$5,000,000”. 

SECTION 6. Representations and Warranties. To induce the other parties hereto to enter into this Agreement, each Loan
Party party hereto represents and warrants to the Administrative Agent, each Issuing Bank, the N.Z. Swingline Lender and each other Lender (including each Incremental Revolving Credit Lender and each Incremental Tranche A Term Lender (each, an
“Incremental Lender”)) that: 
 (a) This Agreement has been duly authorized, executed and delivered by such Loan
Party, and constitutes a legal, valid and binding obligation of such Loan Party enforceable against such Loan Party in accordance with its terms, subject to the effects of bankruptcy, insolvency, fraudulent conveyance, moratorium and other similar
laws relating to or affecting creditors’ rights generally and to general equitable principles (whether considered in a proceeding in equity or at law) and an implied covenant of good faith and fair dealing. 

(b) Each of the representations and warranties made by such Loan Party in Article III of the Credit Agreement and in each other Loan Document
are true and correct in all material respects on and as of the Effective Date, except to the extent such representations and warranties expressly relate to an earlier date. 

(c) No Event of Default or Default has occurred and is continuing as of the Effective Date after giving effect to this Agreement and the
transactions contemplated hereby. 
 SECTION 7. Effectiveness. This Agreement, and the obligation of (i) each
Incremental Tranche A Term Lender to make its Incremental Tranche A Term Loans and (ii) each Incremental Revolving Credit Lender to provide its Incremental Revolving Credit Commitments and to make extensions of credit thereunder, shall become
effective as of the date on which each of the following conditions precedent shall have been satisfied (the “Effective Date”): 

(a) The Administrative Agent shall have received duly executed counterparts of this Agreement which, when taken together, bear the signatures
of each Loan Party, each Issuing Bank, the N.Z. Swingline Lender and each Incremental Lender. 

  
 5 

 (b) Each of the conditions set forth in paragraphs (b) and (c) of Section 4.01 of
the Credit Agreement shall be satisfied, and the Administrative Agent shall have received a certificate to that effect dated as of the Effective Date and executed by a Responsible Officer of the U.S. Borrower. 

(c) As of the Effective Date, and after giving effect to the making of the Incremental Tranche A Term Loans, the use of the proceeds thereof
as provided for herein and the providing of the Incremental Revolving Credit Commitments, Holdings is in pro forma compliance with Section 6.05 and Section 6.06 of the Credit Agreement, and the Administrative Agent shall have received a
certificate to that effect dated as of the Effective Date and executed by a Responsible Officer of the U.S. Borrower. 
 (d) The
Administrative Agent shall have received (i) a favorable written opinion of (x) the General Counsel or Deputy General Counsel of the U.S. Borrower and (y) Simpson Thacher & Bartlett LLP, New York counsel for the Loan Parties,
Bedell Cristin Jersey Partnership, Jersey counsel for the Loan Parties, AKD Benelux Lawyers, Netherlands counsel for the Loan Parties, Gowling WLG, U.K. counsel for the U.K. Borrower, McInnes Cooper, Canadian counsel for the Canadian Borrower,
Allens, Australian counsel for the Australian Borrower, Maples and Calder (Luxembourg) SARL, Luxembourg counsel for any Loan Party incorporated in Luxembourg and Chapman Tripp, New Zealand counsel for the New Zealand Borrower, in each case addressed
to the Administrative Agent, the Issuing Banks and the Lenders (including the Incremental Lenders), (ii) board resolutions and (iii) customary officer’s certificates, in each case, with respect to each Loan Party in form and substance
substantially consistent with those delivered on the Closing Date. Holdings and the U.S. Borrower hereby request each such counsel to deliver such opinion. 

(e) The Administrative Agent shall have received all fees and other amounts due and payable on or prior to the Effective Date, including all
Upfront Fees (as defined below) and, to the extent invoiced one Business Day prior to the Effective Date, reimbursement or payment of all reasonable out-of-pocket
expenses required to be reimbursed or paid by the Borrowers hereunder or under any other Loan Document. 
 (f) The Administrative Agent
shall have received, at least two (2) Business Days prior to the Effective Date, all documentation and other information reasonably requested by it (on behalf of itself or any Lender) at least five (5) Business Days prior to the Effective
Date that is required by regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including the USA PATRIOT Act, and to the extent that any Borrower qualifies as a “legal entity
customer” under 31 C.F.R. § 10.10.230 (the “Beneficial Ownership Regulation”), a certification regarding beneficial ownership in relation to, and signed by a Responsible Officer of, such Borrower. 

(g) The Administrative Agent shall have received a Borrowing Request with respect to the Incremental Term Loans and each Revolving Loan or N.Z
Swingline Loan to be made (or deemed to be made) on the Effective Date in accordance with Sections 2.03 and 2.22 of the Credit Agreement. 

SECTION 8. Acknowledgement of Guarantors. Each of the Guarantors party hereto hereby acknowledges its receipt of a copy
of this Agreement and its review of the terms and 

  
 6 

 
conditions hereof, and each of the Guarantors hereby consents to the terms and conditions of this Agreement and the transactions contemplated hereby, and hereby affirms and confirms its guarantee
of the Obligations pursuant to the Guarantee Agreement (subject, for the Luxembourg Borrower and the Luxembourg Guarantor, to the applicable limitation of guarantee provided for in Section 2.01(b) of the Guarantee Agreement) and agrees that
such guarantee shall continue to be in full force and effect and shall inure to the benefit of the Lenders (including the Incremental Lenders) in respect of the Obligations owed to them from time to time. 

SECTION 9. Notices. All notices hereunder shall be given in accordance with the provisions of Section 9.01 of the
Credit Agreement. 
 SECTION 10. Fees. On the Effective Date, in consideration of the agreements of the Incremental
Lenders contained in this Agreement, the Borrowers agree to pay to the Administrative Agent, in immediately available funds, for the account of each Incremental Lender, an upfront fee (the “Upfront Fee”), in an amount equal
to 0.0625% of the sum of (x) such Incremental Lender’s aggregate Incremental Revolving Credit Commitments (whether used or unused) and (y) the principal amount of such Lender’s Incremental Tranche A Term Loans, in each case, as
in effect immediately after giving effect to this Agreement. Once paid, the Upfront Fees shall not be refundable under any circumstances. 

SECTION 11. Counterparts. This Agreement may be executed in counterparts (and by different parties hereto on different
counterparts), each of which shall constitute an original but all of which when taken together shall constitute a single contract. Delivery of an executed signature page to this Agreement by facsimile or other customary means of electronic
transmission (e.g., “pdf”) shall be as effective as delivery of a manually signed counterpart of this Agreement. 
 SECTION 12.
APPLICABLE LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 

SECTION 13. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY
RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT. EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER
PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS
AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 13. 
 SECTION 14. Jurisdiction; Consent to
Service of Process. (a) Each Loan Party hereby irrevocably and unconditionally submits, for itself and its property, to the exclusive general jurisdiction of any New York State court or Federal court of the United States of
America sitting in New York City, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Agreement, or for recognition or enforcement of any judgment, and each

  
 7 

 
of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be heard and determined in such New York State or, to the
extent permitted by law, in such Federal court. Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other
manner provided by law. 
 (b) Each Loan Party hereby irrevocably and unconditionally waives, to the fullest extent it may legally
and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement in any New York State or Federal court. Each of the parties hereto
hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court. 

(c) Each party to this Agreement irrevocably consents to service of process in the manner provided for notices in Section 9.01 of the
Credit Agreement. Nothing in this Agreement will affect the right of any party to this Agreement to serve process in any other manner permitted by law. 

SECTION 15. Headings. Headings used herein are for convenience of reference only, are not part of this Agreement and are
not to affect the construction of, or to be taken into consideration in interpreting, this Agreement. 
 [Remainder of this page
intentionally left blank] 

  
 8 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by
their respective authorized officers as of the date and year first above written. 
  

			
	CBRE SERVICES, INC.,
		
	    by	 	 /s/ Debbie Fan

		 	Name:  Debbie Fan
		 	Title:    Senior Vice President and Treasurer

  

			
	CBRE GROUP, INC.,
		
	    by	 	 /s/ Debbie Fan

		 	Name:  Debbie Fan
		 	Title:    Senior Vice President and Treasurer

 [Signature Page to Incremental Assumption Agreement] 

 
			
	CBRE GLOBAL ACQUISITION COMPANY
		
	    By	 	 /s/ Roberta Masson

		 	Name:  Roberta Masson
		 	Title:    Type B manager

 [Signature Page to Incremental Assumption Agreement] 

 
			
	 CBRE GLOBAL HOLDINGS, a société à

responsabilité limitée organized under the laws of

the Grand Duchy of Luxembourg, having its
 registered office at
12C, Impasse Drosbach, L-1882
 Luxembourg, Grand Duchy of Luxembourg and

registered with the Luxembourg Trade and
 Companies Register
(Registre de Commerce et des
 Sociétés, Luxembourg) under number B 150.693

		
	    By	 	/s/ Roberta Masson
		 	 Name: Roberta Masson
 Title:   Type
B manager

 [Signature Page to Incremental Assumption Agreement] 

 
			
	 CBRE, Inc.
 CBRE Global Investors,
Inc.
 CBRE Global Investors, LLC
 CBRE Capital Markets of
Texas, LP
 CBRE Capital Markets, Inc.
 CBRE Clarion CRA
Holdings, Inc.
 CBRE Clarion REI Holding, Inc.
 CBRE Government
Services, LLC
 CBRE/LJM –Nevada, Inc.
 CBRE Partner,
Inc.
 CBRE Technical Services, LLC
 CB/TCC, LLC

Trammell Crow Company, LLC
 CBRE GWS LLC

CBRE Business Lending, Inc.
 CBRE Consulting, Inc.

CBRE/LJM Mortgage Company, L.L.C.
 Insignia/ESG Capital
Corporation

		
	    by	 	/s/ Debbie Fan
		 	 Name: Debbie Fan
 Title:   Senior
Vice President and Treasurer

 [Signature Page to Incremental Assumption Agreement] 

 
			
	Trammell Crow Development & Investment, Inc.
		
	    by	 	/s/ Michael S. Duffy
		 	 Name: Michael S. Duffy
 Title:
  Executive Vice President

 [Signature Page to Incremental Assumption Agreement] 

 
			
	CBRE LIMITED, a limited company organized under the laws of England and Wales,
		
	    by	 	/s/ Martin Samworth
		 	 Name: Martin Samworth
 Title:
  Director

		
	    by	 	/s/ Ciaran Bird
		 	 Name: Ciaran Bird
 Title:
  Director

 [Signature Page to Incremental Assumption Agreement] 

 
			
	CBRE LIMITED, a corporation organized under the laws of the province of New Brunswick,
		
	    by	 	/s/ Jeff Cook
		 	 Name: Jeff Cook
 Title:   SVP
Finance

 [Signature Page to Incremental Assumption Agreement] 

 
			
	Executed in accordance with section 127 of the Corporations Act 2001 (Cth) by CBRE PTY LIMITED:
		
	    by	 	/s/ Philip Andrew Rowland
		 	 Name: Philip Andrew Rowland
 Title:
  Director

		
	    by	 	/s/ Leah Jeanell Boyd
		 	 Name: Leah Jeanell Boyd
 Title:
  Company Secretary

 [Signature Page to Incremental Assumption Agreement] 

 
			
	CBRE LIMITED, a company organized under the laws of New Zealand,
		
	    by	 	/s/ Brent David McGregor
		 	 Name: Brent David McGregor
 Title:
  Director

		
	    by	 	/s/ Philip Andrew Rowland
		 	 Name: Philip Andrew Rowland
 Title:
  Director

 [Signature Page to Incremental Assumption Agreement] 

 
			
	CB/TCC GLOBAL HOLDINGS LIMITED,
		
	    by	 	/s/ Marcus Smith
		 	Name: Marcus Smith
		
	    by	 	/s/ Pasha Zargarof
		 	Name: Pasha Zargarof

 [Signature Page to Incremental Assumption Agreement] 

 
			
	RELAM AMSTERDAM HOLDINGS B.V.,
		
	    By: 	 	 Intertrust Management B.V., its
 managing
director

		
		 	/s/ Gert Jan Rietberg
		 	 Name: Gert Jan Rietberg
 Title:
  Proxy holder

		
	    By: 	 	 Intertrust Management B.V., its
 managing
director

		
		 	/s/ L. Kuiters
		 	 Name: L. Kuiters
 Title:   Proxy
Holder A

 [Signature Page to Incremental Assumption Agreement] 

 
			
	CBRE LIMITED PARTNERSHIP,
		
	By:	 	CBRE PARTNER, INC., its general partner
		
		 	/s/ Debbie Fan                                
		 	 Name: Debbie Fan
 Title:   SVP and
Treasurer

 [Signature Page to Incremental Assumption Agreement] 

 
			
	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as Administrative Agent,
		
	by	 	/s/ William
O’Daly                                    
		 	 Name: William O’Daly
 Title:
  Authorized Signatory

		
	by	 	/s/ Brady
Bingham                                    
		 	 Name: Brady Bingham
 Title:
  Authorized Signatory

 [Signature Page to Incremental Assumption Agreement] 

			
		  	 SIGNATURE PAGE TO INCREMENTAL
 ASSUMPTION
AGREEMENT DATED AS OF
 THE DAY AND YEAR FIRST WRITTEN
 ABOVE,
RELATING TO THE CREDIT
 AGREEMENT DATED AS OF OCTOBER 31,

2017, OF CBRE SERVICES, INC.

 To execute this Amendment as an Incremental Tranche A Term Lender, an Incremental Domestic Revolving Credit
Lender, an Incremental Multicurrency Revolving Credit Lender and an Incremental U.K. Revolving Credit Lender: 
  

	
	Name of Institution: Wells Fargo Bank, N.A.

  

			
	    by	 	/s/ Charles Wilmot
		 	 Name: Charles Wilmot

Title:  Senior Vice President

	
	For any Lender requiring a second signature line:
		
	    by 	 	 
		 	 Name:
 Title:

 [Signature Page to Incremental Assumption Agreement] 

			
		  	 SIGNATURE PAGE TO INCREMENTAL
 ASSUMPTION
AGREEMENT DATED AS OF
 THE DAY AND YEAR FIRST WRITTEN
 ABOVE,
RELATING TO THE CREDIT
 AGREEMENT DATED AS OF OCTOBER 31,

2017, OF CBRE SERVICES, INC.

 To execute this Amendment as an Incremental Tranche A Term Lender, an Incremental Domestic Revolving Credit
Lender, an Incremental Multicurrency Revolving Credit Lender and an Incremental U.K. Revolving Credit Lender: 
 Name of Institution: Bank of
America, N.A. 
  

			
	    by	 	/s/ Suzanne E. Pickett
		 	 Name: Suzanne E. Pickett

Title:   Senior Vice President

	
	For any Lender requiring a second signature line:
		
	    by 	 	 
		 	 Name:
 Title:

 [Signature Page to Incremental Assumption Agreement] 

			
		  	 SIGNATURE PAGE TO INCREMENTAL
 ASSUMPTION
AGREEMENT DATED AS OF
 THE DAY AND YEAR FIRST WRITTEN
 ABOVE,
RELATING TO THE CREDIT
 AGREEMENT DATED AS OF OCTOBER 31,

2017, OF CBRE SERVICES, INC.

 To execute this Amendment as an Incremental U.K. Revolving Credit Lender: 

Name of Institution: Bank of America Merrill Lynch International Designated Activity Company 

 

			
	    by 	 	/s/ Christopher Coney
		 	 Name: Christopher Coney

Title:   Vice President

	
	For any Lender requiring a second signature line:
		
	    by	 	 
		 	 Name:
 Title:

 [Signature Page to Incremental Assumption Agreement] 

			
		  	 SIGNATURE PAGE TO INCREMENTAL
 ASSUMPTION
AGREEMENT DATED AS OF
 THE DAY AND YEAR FIRST WRITTEN
 ABOVE,
RELATING TO THE CREDIT
 AGREEMENT DATED AS OF OCTOBER 31,

2017, OF CBRE SERVICES, INC.

 To execute this Amendment as an Incremental Multicurrency Revolving Credit Lender: 

Name of Institution: Bank of America, N.A. (Canada branch) 
  

			
	    by 	 	/s/ Medina Sales de Andrade
		 	 Name: Medina Sales de Andrade

Title:   Vice President

	
	For any Lender requiring a second signature line:
		
	    by	 	 
		 	 Name:
 Title:

 [Signature Page to Incremental Assumption Agreement] 

			
		  	 SIGNATURE PAGE TO INCREMENTAL

ASSUMPTION AGREEMENT DATED AS OF

THE DAY AND YEAR FIRST WRITTEN

ABOVE, RELATING TO THE CREDIT

AGREEMENT DATED AS OF OCTOBER 31,

2017, OF CBRE SERVICES, INC.

 To execute this Amendment as an Incremental Tranche A Term Lender, an Incremental Domestic Revolving Credit
Lender, an Incremental Multicurrency Revolving Credit Lender and an Incremental U.K. Revolving Credit Lender: 
 Name of Institution: HSBC
Bank USA, N.A. 
  

					
		 	    by	 	/s/ Ilene Hernandez
		 		 	Name: Ilene Hernandez
		 		 	Title:  Vice President

  

					
	For any Lender requiring a second signature line:
			
		 	    by	 	 
		 		 	Name:
		 		 	Title:

 [Signature Page to Incremental Assumption Agreement] 

			
		  	 SIGNATURE PAGE TO INCREMENTAL ASSUMPTION AGREEMENT DATED AS OF

THE DAY AND YEAR FIRST WRITTEN

ABOVE, RELATING TO THE CREDIT

AGREEMENT DATED AS OF OCTOBER 31,

2017, OF CBRE SERVICES, INC.

 To execute this Amendment as an Incremental Tranche A Term Lender, an Incremental Domestic Revolving Credit
Lender, an Incremental Multicurrency Revolving Credit Lender and an Incremental U.K. Revolving Credit Lender: 
 Name of Institution: MUFG
BANK, LTD. 
  

					
		 	    by	 	/s/ Jeffrey Flagg
		 		 	Name: Jeffrey Flagg
		 		 	Title:   Director

  

					
	For any Lender requiring a second signature line:
			
		 	    by	 	 
		 		 	Name:
		 		 	Title:

 [Signature Page to Incremental Assumption Agreement] 

			
		  	 SIGNATURE PAGE TO INCREMENTAL ASSUMPTION AGREEMENT DATED AS OF

THE DAY AND YEAR FIRST WRITTEN

ABOVE, RELATING TO THE CREDIT

AGREEMENT DATED AS OF OCTOBER 31,

2017, OF CBRE SERVICES, INC.

 To execute this Amendment as an Incremental Tranche A Term Lender, an Incremental Domestic Revolving Credit
Lender, an Incremental Multicurrency Revolving Credit Lender and an Incremental U.K. Revolving Credit Lender: 
 Name of Institution: The
Bank of Nova Scotia 
  

					
		 	    by	 	/s/ Winston Lua
		 		 	Name: Winston Lua
		 		 	Title:   Director

  

					
	For any Lender requiring a second signature line:
			
		 	    by	 	 
		 		 	Name:
		 		 	Title:

 [Signature Page to Incremental Assumption Agreement] 

			
		  	 SIGNATURE PAGE TO INCREMENTAL ASSUMPTION AGREEMENT DATED AS OF

THE DAY AND YEAR FIRST WRITTEN

ABOVE, RELATING TO THE CREDIT

AGREEMENT DATED AS OF OCTOBER 31,

2017, OF CBRE SERVICES, INC.

 To execute this Amendment as an Incremental Domestic Revolving Credit Lender, an Incremental Multicurrency
Revolving Credit Lender and an Incremental U.K. Revolving Credit Lender: 
 Name of Institution: JPMorgan Chase Bank, N.A. 

 

					
		 	    by	 	/s/ Chiara Carter
		 		 	Name: Chiara Carter
		 		 	Title:   Executive Director

  

			
	For any Lender requiring a second signature line:
		
	    by	 	 
		 	Name:
		 	 Title:
  

 [Signature Page to Incremental Assumption Agreement] 

			
		  	 SIGNATURE PAGE TO INCREMENTAL ASSUMPTION AGREEMENT DATED AS OF

THE DAY AND YEAR FIRST WRITTEN

ABOVE, RELATING TO THE CREDIT

AGREEMENT DATED AS OF OCTOBER 31,

2017, OF CBRE SERVICES, INC.

 To execute this Amendment as an Incremental Tranche A Term Lender, an Incremental Domestic Revolving Credit
Lender, and an Incremental U.K. Revolving Credit Lender: 
 Name of Institution: The Royal Bank of Scotland Plc 

 

					
		 	    by	 	/s/ Robert Budgen
		 		 	Name: Robert Budgen
		 		 	Title:   Director

  

					
	For any Lender requiring a second signature line:
			
		 	    by	 	 
		 		 	Name:
		 		 	Title:

 [Signature Page to Incremental Assumption Agreement] 

			
		  	 SIGNATURE PAGE TO INCREMENTAL

ASSUMPTION AGREEMENT DATED AS OF

THE DAY AND YEAR FIRST WRITTEN

ABOVE, RELATING TO THE CREDIT

AGREEMENT DATED AS OF OCTOBER 31,

2017, OF CBRE SERVICES, INC.

 To execute this Amendment as an Incremental Domestic Revolving Credit Lender, an Incremental Multicurrency
Revolving Credit Lender and an Incremental U.K. Revolving Credit Lender: 
 Name of Institution: Barclays Bank PLC 

 

							
		 	    by	 	/s/ Amir Barash
		 		 	Name: Amir Barash
		 		 	Title:   Director
		 		 	Executed in New York

  

					
	For any Lender requiring a second signature line:
			
		 	    by	 	 
		 		 	Name:
		 		 	Title:

 [Signature Page to Incremental Assumption Agreement] 

			
		  	 SIGNATURE PAGE TO INCREMENTAL

ASSUMPTION AGREEMENT DATED AS OF

THE DAY AND YEAR FIRST WRITTEN

ABOVE, RELATING TO THE CREDIT

AGREEMENT DATED AS OF OCTOBER 31, 2017, OF CBRE SERVICES, INC.

 To execute this Amendment as an Incremental Domestic Revolving Credit Lender, an Incremental Multicurrency
Revolving Credit Lender and an Incremental U.K. Revolving Credit Lender: 
 Name of Institution: ING Bank N.V., Dublin Branch 

 

					
		 	    by	 	/s/ Sean Hassett
		 		 	Name: Sean Hassett
		 		 	Title:   Director

  

					
	For any Lender requiring a second signature line:
			
		 	    by	 	/s/ Ciaran Dunne
		 		 	Name: Ciaran Dunne
		 		 	Title:   Director

 [Signature Page to Incremental Assumption Agreement] 

			
		  	 SIGNATURE PAGE TO INCREMENTAL ASSUMPTION AGREEMENT DATED AS OF

THE DAY AND YEAR FIRST WRITTEN

ABOVE, RELATING TO THE CREDIT

AGREEMENT DATED AS OF OCTOBER 31,

2017, OF CBRE SERVICES, INC.

 To execute this Amendment as an Incremental Tranche A Term Lender, an Incremental Domestic Revolving Credit
Lender, an Incremental Multicurrency Revolving Credit Lender and an Incremental U.K. Revolving Credit Lender: 
 Name of Institution:
CITIBANK, N.A. 
  

					
		 	    by	 	/s/ David Jaffe
		 		 	Name: David Jaffe
		 		 	Title:   Vice President

  

					
	For any Lender requiring a second signature line:
			
		 	    by	 	 
		 		 	Name:
		 		 	Title:

 [Signature Page to Incremental Assumption Agreement] 

			
		  	 SIGNATURE PAGE TO INCREMENTAL

ASSUMPTION AGREEMENT DATED AS OF

THE DAY AND YEAR FIRST WRITTEN

ABOVE, RELATING TO THE CREDIT

AGREEMENT DATED AS OF OCTOBER 31,

2017, OF CBRE SERVICES, INC.

 To execute this Amendment as an Incremental Domestic Revolving Credit Lender, an Incremental Multicurrency
Revolving Credit Lender and an Incremental U.K. Revolving Credit Lender: 
 Name of Institution: CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH

  

					
		 	    by	 	/s/ William O’Daly
		 		 	Name: William O’Daly
		 		 	Title:   Authorized Signatory

  

					
	For any Lender requiring a second signature line:
			
		 	    by	 	/s/ Brady Bingham
		 		 	Name: Brady Bingham
		 		 	Title:   Authorized Signatory

 [Signature Page to Incremental Assumption Agreement] 

			
		  	 SIGNATURE PAGE TO INCREMENTAL

ASSUMPTION AGREEMENT DATED AS OF

THE DAY AND YEAR FIRST WRITTEN

ABOVE, RELATING TO THE CREDIT

AGREEMENT DATED AS OF OCTOBER 31,

2017, OF CBRE SERVICES, INC.

 To execute this Amendment as an Incremental Tranche A Term Lender and an Incremental Domestic Revolving Credit
Lender: 
 Name of Institution: Branch Banking and Trust Company 

 

					
		 	    by	 	 /s/ Vicount P. Cornwall

		 		 	 Name: Vicount P. Cornwall

		 		 	 Title:   Senior Vice
President

  

					
	For any Lender requiring a second signature line:
			
		 	    by	 	 
		 		 	Name:
		 		 	Title:

 [Signature Page to Incremental Assumption Agreement] 

			
		  	 SIGNATURE PAGE TO INCREMENTAL

ASSUMPTION AGREEMENT DATED AS OF

THE DAY AND YEAR FIRST WRITTEN

ABOVE, RELATING TO THE CREDIT

AGREEMENT DATED AS OF OCTOBER 31,

2017, OF CBRE SERVICES, INC.

 To execute this Amendment as an Incremental Tranche A Term Lender, an Incremental Domestic Revolving Credit
Lender, an Incremental Multicurrency Revolving Credit Lender and an Incremental U.K. Revolving Credit Lender: 
 Name of Institution:
Santander Bank, N.A. 
  

					
	     by
	 	 /s/ Andres Barbosa

		 	 Name:
	 	 Andres Barbosa

		 	 Title:
	 	 Executive Director

  

					
	 For any Lender requiring a second signature line:

		
	     by
	 	 /s/ Daniel Kostman

		 	 Name:
	 	 Daniel Kostman

		 	 Title:
	 	 Executive Director

 [Signature Page to Incremental Assumption Agreement] 

			
		  	 SIGNATURE PAGE TO INCREMENTAL

ASSUMPTION AGREEMENT DATED AS OF

THE DAY AND YEAR FIRST WRITTEN

ABOVE, RELATING TO THE CREDIT

AGREEMENT DATED AS OF OCTOBER 31,

2017, OF CBRE SERVICES, INC.

 To execute this Amendment as an Incremental Tranche A Term Lender and Incremental Domestic Revolving Credit
Lender only: 
 Name of Institution: U.S. Bank National Association 

 

					
	     by
	 	 /s/ Glenn Leyrer

		 	 Name:
	 	 Glenn Leyrer

		 	 Title:
	 	 Vice President

  

					
	 For any Lender requiring a second signature line:

		
	     by
	 	 
		 	 Name:
	 	
		 	 Title:
	 	

 [Signature Page to Incremental Assumption Agreement] 

			
		  	 SIGNATURE PAGE TO INCREMENTAL

ASSUMPTION AGREEMENT DATED AS OF

THE DAY AND YEAR FIRST WRITTEN

ABOVE, RELATING TO THE CREDIT

AGREEMENT DATED AS OF OCTOBER 31,

2017, OF CBRE SERVICES, INC.

 To execute this Amendment as an Incremental Tranche A Term Lender, an Incremental Domestic Revolving Credit
Lender, an Incremental Multicurrency Revolving Credit Lender and an Incremental U.K. Revolving Credit Lender: 
 Name of Institution:
Australia and New Zealand Banking Group Limited 
  

					
	     by
	 	 /s/ Robert Grillo

		 	 Name:
	 	 Robert Grillo

		 	 Title:
	 	 Director

  

					
	 For any Lender requiring a second signature line:

		
	     by
	 	 
		 	 Name:
	 	
		 	 Title:
	 	

 [Signature Page to Incremental Assumption Agreement] 

			
		  	 SIGNATURE PAGE TO INCREMENTAL

ASSUMPTION AGREEMENT DATED AS OF

THE DAY AND YEAR FIRST WRITTEN

ABOVE, RELATING TO THE CREDIT

AGREEMENT DATED AS OF OCTOBER 31,

2017, OF CBRE SERVICES, INC.

 To execute this Amendment as an Incremental Tranche A Term Lender and an Incremental Domestic Revolving Credit
Lender: 
 Name of Institution: The Bank of New York Mellon 
  

					
	     by
	 	 /s/ Rick Laudisi

		 	 Name:
	 	 Rick Laudisi

		 	 Title:
	 	 Managing Director

  

					
	 For any Lender requiring a second signature line:

		
	     by
	 	 
		 	 Name:
	 	
		 	 Title:
	 	

 [Signature Page to Incremental Assumption Agreement] 

			
		  	 SIGNATURE PAGE TO INCREMENTAL

ASSUMPTION AGREEMENT DATED AS OF

THE DAY AND YEAR FIRST WRITTEN

ABOVE, RELATING TO THE CREDIT

AGREEMENT DATED AS OF OCTOBER 31,

2017, OF CBRE SERVICES, INC.

 To execute this Amendment as an Incremental Tranche A Term Lender, an Incremental Domestic Revolving Credit
Lender, an Incremental Multicurrency Revolving Credit Lender and an Incremental U.K. Revolving Credit Lender: 
 Name of Institution: LLOYDS
BANK CORPORATE MARKETS PLC 
  

					
	     by
	 	 /s/ Allen McGuire

		 	 Name:
	 	 Allen McGuire

		 	 Title:
	 	 Assistant Vice President – M004

  

					
	 For any Lender requiring a second signature line:

		
	     by
	 	 /s/ Kamala Basdeo

		 	 Name:
	 	 Kamala Basdeo

		 	 Title:
	 	 Assistant Vice President – B002

 [Signature Page to Incremental Assumption Agreement] 

			
		  	 SIGNATURE PAGE TO INCREMENTAL

ASSUMPTION AGREEMENT DATED AS OF

THE DAY AND YEAR FIRST WRITTEN

ABOVE, RELATING TO THE CREDIT

AGREEMENT DATED AS OF OCTOBER 31,

2017, OF CBRE SERVICES, INC.

 To execute this Amendment as an Incremental Tranche A Term Lender, an Incremental Domestic Revolving Credit
Lender, an Incremental Multicurrency Revolving Credit Lender and an Incremental U.K. Revolving Credit Lender: 
 Name of Institution: PNC
BANK, NATIONAL ASSOCIATION 
  

					
	     by
	 	 /s/ David C. Drouillard

		 	 Name:
	 	 David C. Drouillard

		 	 Title:
	 	 Sr. Vice President

  

					
	 For any Lender requiring a second signature line:

		
	     by
	 	 
		 	 Name:
	 	
		 	 Title:
	 	

 [Signature Page to Incremental Assumption Agreement] 

			
		  	 SIGNATURE PAGE TO INCREMENTAL
 ASSUMPTION
AGREEMENT DATED AS OF
 THE DAY AND YEAR FIRST WRITTEN
 ABOVE,
RELATING TO THE CREDIT
 AGREEMENT DATED AS OF OCTOBER 31,

2017, OF CBRE SERVICES, INC.

 To execute this Amendment as an Incremental Tranche A Term Lender and an Incremental Domestic Revolving Credit
Lender: 
 Name of Institution: Bank of China Los Angeles Branch 
  

					
	     by
	 	 /s/ Yong Ou

		 	 Name:
	 	 Yong Ou

		 	 Title:
	 	 SVP & Deputy Branch Manager

  

					
	 For any Lender requiring a second signature line:

		
	     by
	 	 
		 	 Name:
	 	
		 	 Title:
	 	

 [Signature Page to Incremental Assumption Agreement] 

			
		  	 SIGNATURE PAGE TO INCREMENTAL

		  	 ASSUMPTION AGREEMENT DATED AS OF

		  	 THE DAY AND YEAR FIRST WRITTEN

		  	 ABOVE, RELATING TO THE CREDIT

		  	 AGREEMENT DATED AS OF OCTOBER 31,

		  	 2017, OF CBRE SERVICES, INC.

 To execute this Amendment as an Incremental Tranche A Term Lender and an Incremental Domestic Revolving Credit
Lender: 
 Name of Institution: KEYBANK NATIONAL ASSOCIATION 
  

					
	     by
	 	 /s/ Geoff Smith

		 	 Name:
	 	 Geoff Smith

		 	 Title:
	 	 Senior Vice President

  

					
	 For any Lender requiring a second signature line:

		
	     by
	 	 
		 	 Name:
	 	
		 	 Title:
	 	

 [Signature Page to Incremental Assumption Agreement] 

			
		  	 SIGNATURE PAGE TO INCREMENTAL

		  	 ASSUMPTION AGREEMENT DATED AS OF

		  	 THE DAY AND YEAR FIRST WRITTEN

		  	 ABOVE, RELATING TO THE CREDIT

		  	 AGREEMENT DATED AS OF OCTOBER 31,

		  	 2017, OF CBRE SERVICES, INC.

 To execute this Amendment as an Incremental Tranche A Term Lender, an Incremental Domestic Revolving Credit
Lender, an Incremental Multicurrency Revolving Credit Lender and an Incremental U.K. Revolving Credit Lender: 
 Name of Institution: Societe
Generale 
  

					
	     by
	 	 /s/ Andrew Johnman

		 	 Name:
	 	 Andrew Johnman

		 	 Title:
	 	 Director

  

					
	 For any Lender requiring a second signature line:

		
	     by
	 	 
		 	 Name:
	 	
		 	 Title:
	 	

 [Signature Page to Incremental Assumption Agreement] 

			
		  	 SIGNATURE PAGE TO INCREMENTAL

		  	 ASSUMPTION AGREEMENT DATED AS OF

		  	 THE DAY AND YEAR FIRST WRITTEN

		  	 ABOVE, RELATING TO THE CREDIT

		  	 AGREEMENT DATED AS OF OCTOBER 31,

		  	 2017, OF CBRE SERVICES, INC.

 To execute this Amendment as an Incremental Tranche A Term Lender and an Incremental Domestic Revolving Credit
Lender: 
 Name of Institution: Fifth Third Bank 
  

					
	     by
	 	 /s/ Michael P. Perillo

		 	 Name:
	 	 Michael P. Perillo

		 	 Title:
	 	 Director

  

					
	 For any Lender requiring a second signature line:

		
	     by
	 	 
		 	 Name:
	 	
		 	 Title:
	 	

 [Signature Page to Incremental Assumption Agreement] 

			
		  	 SIGNATURE PAGE TO INCREMENTAL

ASSUMPTION AGREEMENT DATED AS OF

THE DAY AND YEAR FIRST WRITTEN

ABOVE, RELATING TO THE CREDIT

AGREEMENT DATED AS OF OCTOBER 31, 2017,

OF CBRE SERVICES, INC.

 To execute this Amendment as an Incremental Tranche A Term Lender, an Incremental Domestic Revolving Credit
Lender, an Incremental Multicurrency Revolving Credit Lender and an Incremental U.K. Revolving Credit Lender: 
 Name of Institution:
Associated Bank, N.A. 
  

					
		
	 by 
	 	/s/ Edward U. Notz, Jr.
		 	Name:	 	 Edward U. Notz, Jr.

		 	Title:	 	 Senior Vice President

	
	For any Lender requiring a second signature line:
		
	 by 
	 	 
		 	 Name:
	 	
		 	 Title:
	 	

 [Signature Page to Incremental Assumption Agreement] 

			
		  	 SIGNATURE PAGE TO INCREMENTAL
 ASSUMPTION
AGREEMENT DATED AS OF
 THE DAY AND YEAR FIRST WRITTEN
 ABOVE,
RELATING TO THE CREDIT
 AGREEMENT DATED AS OF OCTOBER 31,

2017, OF CBRE SERVICES, INC.

 To execute this Amendment as an Incremental Tranche A Term Lender and an Incremental Domestic Revolving Credit
Lender: 
 Name of Institution: Comerica Bank 
  

					
	    by	 	/s/ Mark C. Skrzynski Jr.
		 	Name:	 	 Mark C. Skrzynski Jr.

		 	Title:	 	 Vice President

	
	For any Lender requiring a second signature line:
		
	     by
	 	 
		 	 Name:
	 	
		 	 Title:
	 	

 [Signature Page to Incremental Assumption Agreement] 

			
		  	 SIGNATURE PAGE TO INCREMENTAL
 ASSUMPTION
AGREEMENT DATED AS OF
 THE DAY AND YEAR FIRST WRITTEN
 ABOVE,
RELATING TO THE CREDIT
 AGREEMENT DATED AS OF OCTOBER 31,

2017, OF CBRE SERVICES, INC.

 To execute this Amendment as an Incremental Tranche A Term Lender and an Incremental Domestic Revolving Credit
Lender: 
 Name of Institution: FIRST COMMERCIAL BANK, LTD., NEW YORK BRANCH 

 

					
	     by
	 	/s/ Terry Y. G. Ju
		 	Name:	 	 Terry Y. G. Ju

		 	Title:	 	 S.V.P & General Manager

	
	For any Lender requiring a second signature line:
		
	     by
	 	 
		 	 Name:
	 	
		 	 Title:
	 	

 [Signature Page to Incremental Assumption Agreement] 

			
		  	 SIGNATURE PAGE TO INCREMENTAL
 ASSUMPTION
AGREEMENT DATED AS OF
 THE DAY AND YEAR FIRST WRITTEN
 ABOVE,
RELATING TO THE CREDIT
 AGREEMENT DATED AS OF OCTOBER 31,

2017, OF CBRE SERVICES, INC.

 To execute this Amendment as an Incremental Tranche A Term Lender and an Incremental Domestic Revolving Credit
Lender: 
 Name of Institution: MEGA INTERNATIONAL COMMERCIAL BANK CO., LTD., NEW YORK BRANCH 

 

					
	     by
	 	/s/ Tsung-Yao Tsai
		 	Name:	 	 Tsung-Yao Tsai

		 	Title:	 	 Assistant Vice President

	
	For any Lender requiring a second signature line:
		
	     by
	 	 
		 	 Name:
	 	
		 	 Title:
	 	

 [Signature Page to Incremental Assumption Agreement] 

			
		  	 SIGNATURE PAGE TO INCREMENTAL
 ASSUMPTION
AGREEMENT DATED AS OF
 THE DAY AND YEAR FIRST WRITTEN
 ABOVE,
RELATING TO THE CREDIT
 AGREEMENT DATED AS OF OCTOBER 31,

2017, OF CBRE SERVICES, INC.

 To execute this Amendment as an Incremental Tranche A Term Lender and an Incremental Domestic Revolving Credit
Lender: 
 Name of Institution: Bank of Hawaii 
  

					
	     by
	 	/s/ Michael Lee
		 	Name:	 	 Michael Lee

		 	Title:	 	 Assistant Vice President

	
	For any Lender requiring a second signature line:
		
	     by
	 	 
		 	 Name:
	 	
		 	 Title:
	 	

 [Signature Page to Incremental Assumption Agreement] 

			
		  	 SIGNATURE PAGE TO INCREMENTAL
 ASSUMPTION
AGREEMENT DATED AS OF
 THE DAY AND YEAR FIRST WRITTEN
 ABOVE,
RELATING TO THE CREDIT
 AGREEMENT DATED AS OF OCTOBER 31,

2017, OF CBRE SERVICES, INC.

 To execute this Amendment as an Incremental Tranche A Term Lender, an Incremental Domestic Revolving Credit
Lender, and an Incremental U.K. Revolving Credit Lender: 
 Name of Institution: Danske Bank A/S 

 

					
	    by	 	/s/ Gert Carstens
		 	Name:	 	Gert Carstens
		 	Title:	 	Senior Loan Manager
	
	For any Lender requiring a second signature line:
		
	    by	 	/s/ Corinne Akstrup
		 	Name:	 	Corinne Akstrup
		 	Title:	 	Senior Loan Manager

 [Signature Page to Incremental Assumption Agreement] 

 SCHEDULE I 

INCREMENTAL TRANCHE A TERM LENDERS 
  

					
	 LENDER
	  	AMOUNT	 
	 WELLS FARGO BANK, NATIONAL ASSOCIATION
	  	$	35,288,849.47	 
	 BANK OF AMERICA, N.A.
	  	$	21,387,020.17	 
	 HSBC BANK USA, N.A.
	  	$	21,387,020.17	 
	 MUFG BANK, LTD.
	  	$	21,387,020.17	 
	 THE BANK OF NOVA SCOTIA
	  	$	21,387,020.17	 
	 THE ROYAL BANK OF SCOTLAND PLC
	  	$	22,156,379.58	 
	 CITIBANK, N.A.
	  	$	14,788,732.40	 
	 BRANCH BANKING & TRUST COMPANY
	  	$	46,514,222.67	 
	 SANTANDER BANK, N.A.
	  	$	10,563,380.28	 
	 U.S. BANK NATIONAL ASSOCIATION
	  	$	12,295,081.92	 
	 AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED
	  	$	9,677,419.35	 
	 THE BANK OF NEW YORK MELLON
	  	$	8,986,175.12	 
	 LLOYDS BANK CORPORATE MARKETS PLC
	  	$	7,258,064.52	 
	 PNC BANK, NATIONAL ASSOCIATION
	  	$	6,338,028.17	 
	 BANK OF CHINA LOS ANGELES BRANCH
	  	$	7,377,049.18	 
	 KEYBANK NATIONAL ASSOCIATION
	  	$	7,377,049.18	 
	 SOCIETE GENERALE
	  	$	4,225,352.10	 
	 FIFTH THIRD BANK
	  	$	4,918,032.79	 
	 ASSOCIATED BANK, N.A.
	  	$	2,957,746.45	 
	 COMERICA BANK
	  	$	8,000,000.00	 
	 FIRST COMMERCIAL BANK, LTD., NEW YORK BRANCH
	  	$	1,967,213.12	 
	 MEGA INTERNATIONAL COMMERCIAL BANK CO., LTD., NEW YORK BRANCH
	  	$	1,770,491.80	 
	 BANK OF HAWAII
	  	$	1,475,409.84	 
	 DANSKE BANK A/S
	  	$	517,241.38	 
		  	  
	  
	 
	 TOTAL:
	  	$	300,000,000.00	 
		  	  
	  
	 

 SCHEDULE II 

INCREMENTAL DOMESTIC REVOLVING CREDIT LENDERS 
  

					
	 LENDER
	  	AMOUNT	 
	 WELLS FARGO BANK, NATIONAL ASSOCIATION
	  	$	146,089,618.94	 
	 BANK OF AMERICA, N.A.
	  	$	146,089,618.84	 
	 HSBC BANK USA, N.A.
	  	$	146,089,618.84	 
	 MUFG BANK, LTD.
	  	$	146,089,618.84	 
	 THE BANK OF NOVA SCOTIA
	  	$	146,089,618.84	 
	 JPMORGAN CHASE BANK, N.A.
	  	$	146,089,618.84	 
	 THE ROYAL BANK OF SCOTLAND PLC
	  	$	146,089,618.84	 
	 BARCLAYS BANK PLC
	  	$	150,352,112.70	 
	 ING BANK N.V., DUBLIN BRANCH
	  	$	150,352,112.68	 
	 CITIBANK, N.A.
	  	$	113,380,281.70	 
	 CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH
	  	$	110,892,857.15	 
	 BRANCH BANKING & TRUST COMPANY
	  	$	65,000,000.00	 
	 SANTANDER BANK, N.A.
	  	$	80,985,915.50	 
	 U.S. BANK NATIONAL ASSOCIATION
	  	$	94,262,295.08	 
	 AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED
	  	$	74,193,548.39	 
	 THE BANK OF NEW YORK MELLON
	  	$	68,894,009.22	 
	 LLOYDS BANK CORPORATE MARKETS PLC
	  	$	55,645,161.29	 
	 PNC BANK, NATIONAL ASSOCIATION
	  	$	48,591,549.30	 
	 BANK OF CHINA LOS ANGELES BRANCH
	  	$	56,557,377.05	 
	 KEYBANK NATIONAL ASSOCIATION
	  	$	56,557,377.05	 
	 SOCIETE GENERALE
	  	$	32,394,366.20	 
	 FIFTH THIRD BANK
	  	$	37,704,918.03	 
	 ASSOCIATED BANK, N.A.
	  	$	22,676,056.33	 
	 COMERICA BANK
	  	$	15,000,000.00	 
	 FIRST COMMERCIAL BANK, LTD., NEW YORK BRANCH
	  	$	15,081,967.21	 
	 MEGA INTERNATIONAL COMMERCIAL BANK CO., LTD., NEW YORK BRANCH
	  	$	13,573,770.49	 
	 BANK OF HAWAII
	  	$	11,311,475.41	 
	 DANSKE BANK A/S
	  	$	3,965,517.24	 
		  	  
	  
	 
	 TOTAL:
	  	$	2,300,000,000.00	 
		  	  
	  
	 

 SCHEDULE III 

INCREMENTAL MULTICURRENCY REVOLVING CREDIT LENDERS 
  

					
	 LENDER
	  	AMOUNT	 
	 WELLS FARGO BANK, NATIONAL ASSOCIATION
	  	$	22,238,836.26	 
	 BANK OF AMERICA, N.A.
	  	$	22,238,836.24	 
	 HSBC BANK USA, N.A.
	  	$	22,238,836.24	 
	 MUFG BANK, LTD.
	  	$	22,238,836.24	 
	 THE BANK OF NOVA SCOTIA
	  	$	22,238,836.24	 
	 JPMORGAN CHASE BANK, N.A.
	  	$	22,238,836.24	 
	 BARCLAYS BANK PLC
	  	$	9,859,154.93	 
	 ING BANK N.V., DUBLIN BRANCH
	  	$	9,859,154.93	 
	 CITIBANK, N.A.
	  	$	9,859,154.93	 
	 CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH
	  	$	9,642,857.14	 
	 SANTANDER BANK, N.A.
	  	$	7,042,253.52	 
	 AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED
	  	$	6,451,612.90	 
	 LLOYDS BANK CORPORATE MARKETS PLC
	  	$	4,838,709.68	 
	 PNC BANK, NATIONAL ASSOCIATION
	  	$	4,225,352.11	 
	 SOCIETE GENERALE
	  	$	2,816,901.41	 
	 ASSOCIATED BANK, N.A.
	  	$	1,971,830.99	 
		  	  
	  
	 
	 TOTAL:
	  	$	200,000,000.00	 
		  	  
	  
	 

 SCHEDULE IV 

INCREMENTAL U.K. REVOLVING CREDIT LENDERS 
  

					
	 LENDER
	  	AMOUNT	 
	 WELLS FARGO BANK, NATIONAL ASSOCIATION
	  	$	28,518,897.85	 
	 BANK OF AMERICA, N.A.
	  	$	28,518,897.83	 
	 HSBC BANK USA, N.A.
	  	$	28,518,897.83	 
	 MUFG BANK, LTD.
	  	$	28,518,897.83	 
	 THE BANK OF NOVA SCOTIA
	  	$	28,518,897.83	 
	 JPMORGAN CHASE BANK, N.A.
	  	$	28,518,897.83	 
	 THE ROYAL BANK OF SCOTLAND PLC
	  	$	28,518,897.83	 
	 BARCLAYS BANK PLC
	  	$	14,788,732.39	 
	 ING BANK N.V., DUBLIN BRANCH
	  	$	14,788,732.39	 
	 CITIBANK, N.A.
	  	$	14,788,732.39	 
	 CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH
	  	$	14,464,285.71	 
	 SANTANDER BANK, N.A.
	  	$	10,563,380.28	 
	 AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED
	  	$	9,677,419.36	 
	 LLOYDS BANK CORPORATE MARKETS PLC
	  	$	7,258,064.51	 
	 PNC BANK, NATIONAL ASSOCIATION
	  	$	6,338,028.17	 
	 SOCIETE GENERALE
	  	$	4,225,352.11	 
	 ASSOCIATED BANK, N.A.
	  	$	2,957,746.48	 
	 DANSKE BANK A/S
	  	$	517,241.38	 
		  	  
	  
	 
	 TOTAL:
	  	$	300,000,000.00

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00292-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00292-of-00352.parquet"}]]