Document:

Exhibit 10.1

 

JONES LANG LASALLE INCORPORATED

200 EAST RANDOLPH DRIVE

CHICAGO, ILLINOIS 60601

 

November 27, 2012

 

Ms. Lauralee E. Martin

200 East Randolph Drive

Chicago, Illinois 60601

 

Dear Lauralee:

 

You and we have agreed
that you will become the Chief Executive Officer of our Americas business effective January 1, 2013. In that capacity, you will
remain an International Director and a member of our Global Executive Committee.

 

You will remain responsible
for your current Global Chief Financial Officer role until such time as a successor for that position has been appointed. You will
resign from your current Global Chief Operating Officer role effective December 31, 2012. Consistent with your new role, you will
not stand for re-election to our Board of Directors at the May, 2013 Annual Meeting.

 

By this letter agreement
(this Letter), you and Jones Lang LaSalle Incorporated (both for itself and on behalf of Jones Lang LaSalle Americas, Inc.)
agree to confirm certain particular matters with respect to your compensation.

 

Except as specifically
set forth in this Letter, the determination of your compensation will continue to be made according to the various compensation
plans that are applicable to your new position and subject to the discretion of the Compensation Committee of our Board of Directors.
This Letter does not affect the amounts or terms of any of your outstanding unvested restricted stock units, cash awards or interests
under any of:

 

		·	the Jones Lang LaSalle Incorporated Stock Award and Incentive Plan as amended and restated as of
April 15, 2012, including the Stock Ownership Program (SOP) thereunder (the “SAIP”);

		·	the GEC 2010-2014 Long-Term Incentive Compensation Program (the “GEC LTIP”);
and

		·	the Co-Investment Long-Term Incentive Plan for International Directors (the “ID LTIP”).

 

For avoidance of doubt,
you will remain a GEC Participant for purposes of the Severance Pay Plan of Jones Lang LaSalle Incorporated as amended and restated
effective July 1, 2010 (the “Severance Plan”).

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

 

Confirmation of Compensation
Matters

 

With respect to the above
changes in your employment responsibilities, we agree as follows:

 

		·	Your base salary for your new position will
not be less than it has been for your Global Chief Operating and Financial Officer role (subject only to future ratable reduction
in the discretion of the Compensation Committee in the event that the base salaries for the Global CEO and the Regional CEOs are
generally reduced in the event of financial downturn). You will have the opportunity for base compensation increases consistent
with increases given to the Global CEO or the other Regional CEOs.

 

		·	Your sharing rate in the net income pool
for annual incentive bonuses under the SAIP will remain at least at the present 17% relative level. You will have the opportunity
for an increased sharing percentage based on your performance in your new role. 

 

		·	Your sharing rate in the GEC LTIP award
opportunity will remain at least at the present 20% relative level.

 

		·	If you are involuntarily terminated (except
for cause) from your new role at any time on or prior to December 31, 2014 (the first two years), then you will be paid as though
you had remained in the position through that date, and will also qualify for benefits under the Severance Plan (as now in effect)
as though you had been involuntarily terminated on January 1, 2015. For purposes of determining the “negative discretion”
percentage applied to the maximum potential annual incentive pool, your percentage will be no less than the average of the percentages
paid to the other two Real Estate Services Regional CEOs. 

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		·	If you are involuntarily terminated (except
for cause) from your new role at any time between January 1, 2015 and December 31, 2015 (the third year), then you will qualify
for benefits under Severance Plan (as now in effect) based on date of termination. For purposes of determining your “annual
target bonus” under the Severance Plan, the percentage of the maximum potential reward applied to your bonuses will be no
less than the average of the percentages used for the other two Real Estate Services Regional CEOs.

 

		·	If you voluntarily accept a different position
within the firm at any time, compensation will be no less than as agreed above with respect to your new role.

 

		·	If you voluntarily terminate your employment
on or after January 1, 2016, or you are involuntarily terminated for any reason on or after that date, you agree that this will
be deemed a retirement for purposes of the Severance Plan and that no benefits will accrue under such Plan.

 

[Signature page follows]

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

 

	 	 	Sincerely,
	 	 	 
	 	 	JONES
    LANG LASALLE INCORPORATED
	 	 	 	 
	 	 	By	/s/ Colin Dyer
	 	 	Its	Chief Executive Officer and President

 

	Agreed and Accepted by:	 
	 	 
	/s/ Lauralee E. Martin	 
	Lauralee E. Martin	 

 

 

 

 

 

 

 

 

4Exhibit 10.2

 

JONES LANG LASALLE INCORPORATED

200 EAST RANDOLPH DRIVE

CHICAGO, ILLINOIS 60601

 

November 27, 2012

 

Mr. Peter C. Roberts

200 East Randolph Drive

Chicago, Illinois 60601

 

Dear Peter:

 

This letter (Letter)
reflects our agreement that you will assume the role of Chief Strategy Officer of Jones Lang LaSalle Incorporated (JLL Incorporated)
effective January 1, 2013. In your new role, you will continue to report to the President and Chief Executive Officer of JLL Incorporated,
you will remain an International Director and you will remain a member of its Global Executive Committee. Accordingly, your position
as Chief Executive Officer of Jones Lang LaSalle Americas, Inc. (JLL Americas) will end as of the close of business on December
31, 2012.

 

By this Letter, you and
JLL Incorporated (both for itself and on behalf of JLL Americas) agree as follows in order to (1) establish the principal responsibilities
you will have in your new role and (2) confirm certain compensation and other terms of employment with respect to your new role
and as an integral member of the senior management team.

 

We look forward to continuing
our relationship with you as outlined in this Letter and are confident that in your new role you will continue to add significant
value to our organization.

 

(1)Principal Responsibilities. Your
principal responsibilities as Chief Strategy Officer will be to coordinate and promote the implementation of the “Strategy
2020” management initiative that JLL Incorporated has developed and to develop and evaluate strategies for business opportunities
for JLL Incorporated. You agree to perform such additional duties as may be reasonably requested of you from time to time by the
Chief Executive Officer of JLL Incorporated, provided that such duties are either (i) reasonably related to your principal responsibilities
in your new role or (ii) reasonably related to the transition from your current role.

 

(2)Full-Time Employment;
Continuation of Benefits. You will continue to be a full-time senior executive employee and you will continue to be eligible
for the same benefits, administrative assistance and perquisites as you have had in your current role as Chief Executive Officer
of JLL Americas and as may be consistent with those offered to our corporate officers generally from time to time.

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(3)Compensation and Expense Reimbursement.
Your base salary for the 2013 calendar year will continue to be US$350,000 annually, paid semi-monthly in arrears through our
regular payroll system. You will also be eligible for an annual cash performance incentive (an Annual Bonus) of up to US$1,100,000,
payable no later than March 15, 2014, the final amount of which will be determined by the Chief Executive Officer of JLL Incorporated
under our Individual Performance Management System (IPMP).

 

You will be reimbursed
for all reasonable and documented out-of-pocket expenses associated with carrying out your responsibilities under this Letter (including
any client entertainment and attendance at industry conferences and related events that is reasonably approved by the Chief Executive
Officer of JLL Incorporated), consistent with our travel and entertainment policies.

 

(4)Term and Termination.
Your initial term as Chief Strategy Officer shall be from January 1, 2013 through December 31, 2013 (the Term). Prior
to the end of the Term, we and you will review the relationship for continuation of this role, or establishment of another role,
in any case on mutually satisfactory terms in the discretion of each of you and the Chief Executive Officer of JLL Incorporated.

 

(5)Company Policies and Code of
Business Ethics. You will remain subject to all of the provisions of (i) JLL Incorporated’s Code of Business Ethics,
including without limitation the provisions thereof relating to the confidentiality of information, and (ii) all company policies
and procedures insofar as they reasonably relate to your obligations under this Letter.

 

(6)Resignation From All JLL Americas
Positions; Section 16 Reporting Officer Status. Effective December 31, 2012, by this Letter you will be deemed to have resigned
from all officer and director positions you hold as of such date with JLL Americas or with any subsidiary of JLL Americas. As Chief
Strategy Officer, you will not be a reporting officer under applicable federal securities rules.

 

(7)2012 Annual Performance Incentive.
You will receive a non-prorated annual cash performance incentive (an Annual Bonus) for 2012 when annual bonuses are paid
to other senior executives but not later than March 15, 2013. This Annual Bonus will be in such amount as is determined consistent
with company practice for senior executive bonuses for the 2012 fiscal year, which in your case will be without regard to your
change in role under this Letter; provided, however, your gross 2012 Annual Bonus amount will be denominated and paid entirely
in current cash (including any portion otherwise payable to senior executives in company equity or deferred cash). In no event
will the gross amount of your 2012 Annual Bonus be less than the average of the 2012 Annual Bonuses (including, for the avoidance
of doubt, any portion of such Annual Bonuses awarded as equity grants or deferred cash) paid to the Regional Chief Executive Officers
of each of our EMEA and Asia-Pacific business segments (the EMEA and AP CEOs).

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(8)Confirmation of Terms in the
Event of a Separation from Service. From the date of this Letter and through the last day of the Term, either you or we may
terminate your employment upon 30 days prior written notice. Upon such termination of your employment for any reason, you will
be eligible to receive the GEC severance provided by the Jones Lang LaSalle Severance Pay Plan, as in effect on the date of this
Letter, in the amounts and otherwise described as follows:

 

		o	A lump sum cash amount comprising the
sum of:

 

		§	An amount equal to 54 weeks base pay ($363,462);
and

		§	An amount equal to the actual 2012 fiscal
year Annual Bonus (namely, the Annual Bonus paid in 2013); for avoidance of doubt, this amount is in addition to the actual the
2012 fiscal year Annual Bonus (paid in 2013 pursuant to paragraph 7 of this Letter) and the 2013 prorated Annual Bonus paid at
termination (below).

 

		o	The Annual Bonus payment for the 2013
fiscal year prorated, based on the number of days employed during the year through the last day of employment, and based on a $1,100,000
annual bonus amount prior to proration, paid within 30 days after the date of termination; provided, in the event that we
terminate your employment due to your material willful failure to perform your obligations under Paragraph 5 above or the responsibilities
of your new role as contemplated by this Letter, you will not be eligible to receive any portion of this Annual Bonus for 2013.

 

		o	All outstanding unvested restricted stock
units and deferred cash awards will continue to vest according to their original schedules. Any existing or future 12-month restriction
on your sale of vested company shares will expire on your employment termination. 

 

		o	You will remain vested in the four units
previously granted to you under the International Director Co-Investment Long-Term Incentive Plan, meaning that you will receive
any additional payments in respect of those units as and when payments are made to other participating employees generally. 

 

		o	To the extent you previously purchased
an interest in the Directors Personal Co-Investment Program or any investments offered by Spaulding & Slye Investments, you
will continue to be vested in such purchases and will receive the same payments as may be made to other investors generally.

    	3

    	 

    

 

		o	If your employment extends beyond the
Term upon mutually satisfactory terms to be negotiated, the above provisions of this Paragraph 8 will apply, except that the elements
under the first bulleted paragraph above will be based on your then current compensation (for the avoidance of doubt, in such circumstances,
for purposes of calculating the lump sum Annual Bonus, the then current Annual Bonus target amount will be used).

 

		o	Unless you have breached the non-competition
provisions set forth in the separation and release agreement described below, then within 30 days after the end of the compliance
period thereunder, we will pay you a lump sum cash amount equal to the payment or, to the extent of any deferred payment, the amount
awarded, to each of the other EMEA and AP CEOs in 2013 under the operation of the GEC 2010-2014 Long-Term Incentive Compensation
Program for the 2012 calendar year.

 

In order to receive separation
payments under the Jones Lang LaSalle Severance Pay Plan, you will execute our standard separation and release agreement substantially
in the form provided to you separately.

 

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

 

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

 

(10)Section 409A. The intent
of the parties is that payments and benefits under this Letter either comply with Section 409A of the Internal Revenue Code of
1986, as amended, and the regulations and other official guidance thereunder (Section 409A), or be exempt from the application
of Section 409A and, accordingly, to the maximum extent permitted, this Letter shall be interpreted to be in compliance therewith.
To the extent that any provision hereof is modified in order to comply with Section 409A, such modification shall be made in good
faith and shall, to the maximum extent reasonably possible, maintain the original intent and economic benefit to JLL Incorporated
and you of the applicable provision without violating the provisions of Section 409A. Payments due upon your separation from service
(as defined under Section 409A) shall be subject to delay pursuant to Section 409A(a)(2)(B)(i) to the extent applicable.

 

 

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

 

	 	 	Sincerely,
	 	 	 
	 	 	JONES
    LANG LASALLE INCORPORATED
	 	 	 	 
	 	 	By	/s/ Colin Dyer
	 	 	Its	Chief Executive Officer and President

 

	Agreed and Accepted by:	 
	 	 
	/s/ Peter C. Roberts	 
	Peter C. Roberts	 

 

 

 

 

 

 

 

 

 

5

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