Document:

EX-10.1

Exhibit 10.1

THIRD AMENDMENT TO

GROUP 1 AUTOMOTIVE, INC.

DEFERRED COMPENSATION PLAN

AS AMENDED AND RESTATED EFFECTIVE JANUARY 1, 2008

WHEREAS, GROUP 1 AUTOMOTIVE, INC. (the “Company”) has heretofore adopted the GROUP 1
AUTOMOTIVE, INC. DEFERRED COMPENSATION PLAN AS AMENDED AND RESTATED EFFECTIVE JANUARY 1, 2008 (the
“Plan”);

WHEREAS, the Company desires to amend the Plan in certain respects; fully vest Members in the
Employer Deferrals described in Section 3.2(a) of the Plan;

NOW, THEREFORE, the Plan is hereby amended as follows:

I. Effective as of November 1, 2010:

1. The following new Section 1.1(8A) shall be added to the Plan:

	 	 	 	“(8A) Class Year Subaccount: The portion of a Member’s Deferral
Account and Employer Account attributable to Member Deferrals of Compensation
earned during a particular Plan Year from and after the Plan Year beginning
January 1, 2011, which is adjusted to reflect changes in value as provided in
Section 3.3. Effective for the Plan Year beginning on January 1, 2011, a Class
Year Subaccount shall be established with respect to each Plan Year on behalf
of each Member who elects to make Member Deferrals for such Plan Year or on
whose behalf Employer Deferrals are made for such Plan Year and each Plan Year
thereafter for which such Member makes Member Deferrals and/or is allocated
Employer Deferrals.”	 

2. The following new Section 1.1(16A) shall be added the Plan:

	 	 	 	“(16A) Deferral Component: The portion of a Member’s Class Year Subaccount
established with respect to a Plan Year that is attributable to a particular
category of Compensation (Base Salary, Bonus or Commissions, as applicable)
deferred by the Member for such Plan Year or Employer Deferral made on behalf
of such Member for such Plan Year, as applicable, and which is adjusted to
reflect changes in value as provided in Section 3.3.”	 

3. A new Section 1.1(32A) shall be added to the Plan as follows:

	 	 	 	“(32A) Pre-2011 Accounts. The portion of a Member’s Accounts attributable
to Member Deferrals and Employer Deferrals with respect to Plan Years beginning
prior to January 1, 2011, and which is adjusted to reflect changes in value as
provided in Section 3.3; provided, however that the “Pre-2011 Accounts” shall
not include any amounts that are segregated in Grandfathered Subaccounts
maintained under the Plan pursuant to Section 1.1(19).”	 

4. Section 1.1(35) of the Plan shall be deleted and the following shall be substituted
therefor:

	 	 	 	“(35) Scheduled In-Service Withdrawal: A distribution elected by
the Member pursuant to Section 3.1 for an in-service withdrawal of one or more
Deferral Components within a Class Year Subaccount (for Member Deferrals and
Employer Deferrals made with respect to the Plan Year beginning January 1, 2011
or thereafter) or Scheduled Withdrawal Subaccount (for Member Deferrals made
with respect to Plan Years beginning prior to the Plan Year beginning January
1, 2011).”	 

5. Section 1.1(36A) of the Plan shall be deleted and the following shall be substituted
therefor:

	 	 	 	“(36A) Scheduled Withdrawal Subaccounts: Separate subaccounts within a
Member’s Deferral Account created prior to the Plan Year beginning January 1,
2011 to which are credited Member Deferrals as elected by the Member pursuant
to Section 3.1(d)(ii) and which are adjusted to reflect changes in value as
provided in Section 3.3. A Scheduled Withdrawal Date shall be designated for
each Scheduled Withdrawal Subaccount, as elected by the Member pursuant to
Section 3.1(d)(ii) of the Plan (as in effect immediately prior to November 1,
2010) and is subject to change in accordance with Section 6.3(b). From and
after January 1, 2011, no new Scheduled Withdrawal Subaccounts shall be
established under the Plan and in-service withdrawals of Member Deferrals and
Employer Deferrals with respect to the Plan Year beginning January 1, 2011 and
thereafter shall be accounted for through and subject to the Plan’s election
procedures regarding Class Year Subaccounts pursuant to Sections 3.1(d)(ii) and
6.3.”	 

6. Section 3.1(b) of the Plan shall be deleted and the following shall be substituted
therefor:

“(b) Notwithstanding anything to the contrary in Section 3.1(a) or 3.1(d), if
permitted in accordance with the administrative procedures implemented by the
Committee (which may vary among individual Members), a Member may elect to defer (or
change an election to defer) a Performance Bonus after the start of a Plan Year or
Plan Years in which such Performance Bonus is earned in whole or in part, provided
that (i) such Member makes the initial deferral election with respect to such
Performance Bonus on the form and in accordance with the procedures prescribed by
the Committee and delivered to the Committee no later than the date that is six
months before the end of the performance period applicable thereto, (ii) such Member
has performed services continuously for the Employer from the later of the beginning
of the performance period or the date upon which the performance criteria applicable
to such Performance Bonus are established through a date no earlier than the date
upon which the Member makes an initial deferral election with respect thereto
pursuant to this Section 3.1(b), and (iii) such Member makes such election before
the Performance Bonus has become readily ascertainable (within the meaning of
Section 409A of the Code). In the event that such Member has elected to defer Bonus
for a Plan Year, except as provided in the following sentence, any election by such
Member to defer a Performance Bonus under this Section 3.1(b) earned in such Plan
Year (or during a service period beginning in such Plan Year) shall be deemed to
override any election by such Member as to whether or not to defer such Performance
Bonus under Section 3.1(a)(ii), but only with respect to such Performance Bonus.
The time and form of payment with respect to any election to defer such Performance
Bonus pursuant to this Section 3.1(b) shall be determined according to the Member’s
time and form of payment elections made in accordance with Section 3.1(d)(ii) and
7.3 with respect to his Deferral Component that includes his Bonus Compensation for
such Plan Year (or the Plan Year during which the performance period applicable to
such Performance Bonus began, as applicable). In the event that a Member is
eligible to receive a Performance Bonus but has not made (or been offered) a special
election to defer such Performance Bonus, any election made pursuant to Section
3.1(a)(ii) with respect to the Plan Year during which such Performance Bonus was
earned (or the Plan Year during which the performance period applicable to such
Performance Bonus began, as applicable) shall apply to such Performance Bonus
whenever it is otherwise payable.”

7. The introductory paragraph of Section 3.1(d) of the Plan and subparagraphs (i) and (ii)
thereunder shall be deleted and the following shall be substituted therefor:

“(d) Compensation for a Plan Year not deferred pursuant to elections under
Section 3.1(a) or 3.1(b) shall be received by such Member in cash. A Member’s
annual election to defer an amount of his Compensation for a Plan Year pursuant to
this Section 3.1, and his election with respect to time and form of payment of
Employer Deferrals made on his behalf with respect to such Plan Year pursuant to
Section 3.2, shall comply with the following requirements:

(i) Such election shall be made by effecting, on the form prescribed by
the Committee and prior to the start of the Plan Year (except for newly
Eligible Employees under Section 2.1(b) or with respect to a Member’s
election to defer a Performance Bonus, if permitted pursuant to
Section 3.1(b)), a Member Deferral election pursuant to which the Member
authorizes the Employer to reduce his Compensation in the elected amount.
Such election shall also specify the applicable time and form of payment of
such Member’s benefits in accordance with the provisions of Section
3.1(d)(ii) and Article VII. In consideration of such election, the Employer
agrees to credit the amount of Compensation for such Plan Year specified in
such election and any Employer Deferrals made on his behalf for such Plan
Year, subject to applicable Plan requirements, to such Member’s Deferral
Account or Employer Account, as applicable, maintained under the Plan.

(ii) For the Plan Year beginning January 1, 2011 and each Plan Year
thereafter, a Member’s deferrals of Base Salary, Bonus and/or Commissions
for such Plan Year and any Employer Deferrals made on the Member’s behalf
for such Plan Year shall each be credited to the applicable Deferral
Component of the Member’s Class Year Subaccount for such Plan Year, and the
Member’s election for such Plan year shall specify separately with respect
to each such Deferral Component whether the amounts credited thereto shall
be deferred until (A) the Member’s Termination of Service or (B) until the
Scheduled Withdrawal Date designated for such Deferral Component (i.e., as a
Scheduled In-Service Withdrawal subject to the provisions of Section 6.3).
If a Member elects a Scheduled In-Service Withdrawal of any Deferral
Component, the Member shall specify the Scheduled Withdrawal Date as to such
Deferral Component upon which the Scheduled In-Service Withdrawal of amounts
credited to such Deferral Component shall commence if the Member is still
employed by the Employer on that date; provided, however, that the Scheduled
Withdrawal Date must be at least two calendar years after the end of the
Plan Year for which Member Deferrals, as applicable, and/or any Employer
Deferrals are first credited to such Deferral Component. Except if changed
in accordance with the requirements of Section 6.3, elections made with
respect to Scheduled Withdrawal Subaccounts shall be subject to the
provisions of Section 3.1(d)(ii) of the Plan (as in effect immediately prior
to November 1, 2010). Any Member who fails to elect the time of
distribution of any Scheduled Withdrawal Subaccount or Deferral Component of
any Class Year Subaccount for any Plan Year that is deferred under the Plan
in accordance with this Section 3.1(d)(ii) shall be deemed to have elected
to have deferred such Scheduled Withdrawal Subaccount or Deferral Component
for such Plan Year, as applicable, until his Termination of Service.”

8. Section 3.1(d)(vi) of the Plan shall be deleted and the following shall be deleted and the
following shall be substituted therefor:

“(vi) A Member Deferral election shall remain in force and effect for
the entire Plan Year (or portion thereof) to which such election relates
and, subject to Sections 3.1(e) and 6.2, shall be irrevocable for such Plan
Year, except with respect to Performance Bonuses, for which any election
that is permitted by the Committee pursuant to Section 3.1(b) shall apply
only to the Performance Bonus(es) to which it relates, shall override any
Member election to defer Bonus by such Member that might otherwise apply to
such Performance Bonus (except any time and form of payment election
relating thereto), and shall be irrevocable once the deadline for such
election under Section 3.1(b) has passed.”

9. The following provision shall be added at the end of Section 3.2(a)(ii) of the Plan:

“Separate Class Year Subaccounts shall be maintained under the Member’s
Savings Plan subaccount under his Employer Account for contributions made
with respect to each Plan Year.”

10. A new Section 3.2(d) shall be added to the Plan as follows:

“(d) In the annual election process for each Plan Year pursuant to Section
3.1(d), each Member shall specify the time and form of payment for Employer
Deferrals made on his behalf with respect to such Plan Year, as adjusted pursuant to
Section 3.3, in accordance with the requirements of Section 3.1(d). Notwithstanding
anything to the contrary in Section 3.1(d)(ii), with respect to any Employer
Deferral made on behalf of a Member pursuant to Section 3.2(b), a Member may not
designate a Scheduled Withdrawal Date with respect to the Deferral Component to
which such Employer Deferral is credited that precedes the date that such Employer
Deferral is fully vested as determined under Section 5.2(b). Notwithstanding the
foregoing, Employer Deferrals, as adjusted pursuant to Section 3.3, which are
included in the Member’s Pre-2011 Accounts shall be paid in accordance with
elections made or Plan provisions applicable pursuant to Section 7.3(c) and shall
not be subject to Scheduled In-Service Withdrawal elections.”

11. Section 3.3 of the Plan shall be deleted and the following shall be substituted therefor:

“3.3 Valuation of Accounts. All amounts credited to an Account shall
be deemed invested in accordance with Article IV on the date such amount is credited
to the Account, and, except as provided in Section 4.2, the balance of each Account
(including each Scheduled Withdrawal Subaccount, Class Year Subaccount, Deferral
Component, Pre-2011 Account and Grandfathered Subaccount established thereunder)
shall reflect the result of the daily pricing of the assets in which such Account,
subaccount or Deferral Component thereunder is deemed invested from the time of such
crediting until the time of distribution.”

12. Section 6.3 of the Plan shall be deleted and the following shall be substituted therefor:

“6.3 Scheduled In-Service Withdrawals.

(a) With respect to each Deferral Component within a Class Year Subaccount of a
Member as to which the Member has elected a Scheduled In-Service Withdrawal in
accordance with Section 3.1(d)(ii) (or, with respect to each Scheduled Withdrawal
Subaccount, as applicable), the Member shall receive a Scheduled In-Service
Withdrawal of such Deferral Component (or Scheduled Withdrawal Subaccount, as
applicable) commencing on the Scheduled Withdrawal Date elected by the Member for
such Deferral Component (or Scheduled Withdrawal Subaccount, as applicable) if the
Member is still employed with the Employer on that date. The Member shall receive
the Scheduled In-Service Withdrawal of each Deferral Component (or Scheduled
Withdrawal Subaccount, as applicable) to which such an election applies in one of
the following forms elected by the Member in writing on the form prescribed by the
Committee at the time specified in Section 6.3(b):

(1) A single lump sum payment; and

(2) Annual installments for a period of an integral number of years
from two through five inclusive, as designated by the Member; provided,
however, that with respect to any installments payable to a Member from any
Deferral Component or Scheduled Withdrawal Subaccount, as applicable, (a) in
the event of the Member’s Termination of Service prior to the end of such
elected installment period, the remaining balance in such Deferral Component
or Scheduled Withdrawal Subaccount, as applicable, shall be paid in
accordance with Article VII, and (b) the amount of each annual installment
with respect to each Deferral Component or Scheduled Withdrawal Subaccount,
as applicable, shall be computed by dividing the remaining balance
attributable to such Deferral Component or Scheduled Withdrawal Subaccount,
as applicable, as of the Valuation Date next preceding the date of payment
of such annual installment by the number of annual installments remaining
under the Member’s election with respect to such Deferral Component or
Scheduled Withdrawal Subaccount, as applicable.

In the event the Member fails to timely elect in accordance with Section 6.3(b) the
form in which a Scheduled In-Service Withdrawal is to be paid as to any Deferral
Component or Scheduled Withdrawal Subaccount, such withdrawal shall be in the form
of a single lump sum payment.

(b) A Member’s elections pursuant to Section 6.3(a) with respect to a Scheduled
In-Service Withdrawal must be made at the time of his annual deferral election
pursuant to Section 3.1(d)(ii). Notwithstanding the foregoing, a Member may
subsequently elect to delay the distribution of amounts credited to one or more of
his Deferral Components or Scheduled Withdrawal Subaccounts for a period of at least
five additional calendar years; provided, that such election (a) is made at least 12
months prior to the date that such distribution would otherwise be made, and (b) is
not given effect until 12 months following the date it is made. Such elections may
be made separately as to each Deferral Component and Scheduled Withdrawal Subaccount
and each series of installment payments elected thereunder shall each be treated as
a single payment for purposes of Section 409A of the Code, as provided in Section
7.3(c). In the event that a Member elects a Scheduled In-Service Withdrawal and
incurs a Termination of Service prior to the Scheduled Withdrawal Date, the Member’s
Scheduled In-Service Withdrawal election and Member Deferral election under Section
3.1 will be cancelled and the entire balance of such Member’s Accounts will be paid
according to the Member’s termination distribution election as provided in Section
7.3.”

13. Section 7.3 of the Plan shall be deleted and the following shall be substituted therefor:

“7.3 Alternative Forms of Benefit Payments.

(a) A Member’s benefit under Section 7.1 shall be paid in the form of a single
lump sum payment if such Member’s Termination of Service occurs prior to his
Retirement Date for a reason other than Disability.

(b) With respect to a Member whose Termination of Service occurs (i) prior to
his Retirement Date by reason of Disability or (ii) on or after his Retirement Date,
such Member shall receive distribution of his benefits attributable to his Pre-2011
Accounts and each Deferral Component within each Class Year Subaccount in one of the
following forms elected by such Member in writing on the form prescribed by the
Committee at the time specified in Section 7.3(c), with separate elections to be
made and apply to his Pre-2011 Accounts and each Deferral Component of each of his
Class Year Subaccounts:

(1) A single lump sum payment; and

(2) Annual installments for a period of an integral number of years
from two through 15 inclusive, as designated by a Member; provided, however,
that with respect to any installments payable to a Member under the Plan,
(a) in the event of such Member’s death prior to the end of the elected
installment period, the remaining balance in such Pre-2011 Accounts and
Deferral Component shall be paid as soon as administratively practicable in
one lump sum payment to such Member’s designated Beneficiary, and (b) the
amount of each annual installment shall be computed by dividing the Member’s
Vested Interest in the unpaid balance in his Pre-2011 Accounts or Deferral
Component, as applicable, as of the Valuation Date next preceding the date
of payment of such annual installment by the number of annual installments
remaining.

A single election shall be made pursuant to this Section 7.3(b) by each Member
with respect to his Pre-2011 Accounts and each Deferral Component within each Class
Year Subaccount as to the form of distribution of such Pre-2011 Accounts or Deferral
Component, as applicable, to be made in connection with a Termination of Service
that occurs either (i) prior to such Member’s Retirement Date by reason of
Disability or (ii) on or after such Member’s Retirement Date. In the event such
Member fails to timely elect in accordance with this Section 7.3(b) the form in
which his benefit payments are to be made, such benefit payments shall be in the
form of a single lump sum payment.

(c) A Member’s elections pursuant to Sections 7.2 and 7.3(b) with respect to
his Pre-2011 Accounts shall be made on or before the date he first becomes a Member
of the Plan and shall be a single election with respect to all such Pre-2011
Accounts. A Member’s elections pursuant to Sections 7.2 and 7.3(b) with respect to
his Class Year Subaccounts and each Deferral Component thereunder shall be made on
the form prescribed by the Committee and prior to the deadline for annual Member
Deferral elections applicable under Section 3.1(d)(i). Notwithstanding the
foregoing, a Member may, on the form prescribed by the Committee, make changes in
his elections as to the time and form of payment of his Plan benefits; provided,
however, that (i) any such change shall not be effective if such Member incurs a
Termination of Service on or before the date that is 12 months after such Member
delivers the form implementing such change to the Committee, (ii) except in the case
of the death of the Member, the payment (or installment payments) with respect to
which the new election is made must be deferred for a period of not less than five
years from the date such payment would otherwise have been paid (or five years from
the date the first installment was scheduled to be paid in the case of an election
of installment payments), and (iii) any new election that relates to payment at a
specified time (or pursuant to a fixed schedule) may not be made less than 12 months
before the date the payment is scheduled to be paid (or 12 months before the date
the first amount was scheduled to be paid in the case of an election of installment
payments). Election changes pursuant to this Section 7.2(c) may be made separately
as to each election previously made by a Member (i.e., relating to his Pre-2011
Accounts and each Deferral Component under each Class Year Subaccount). The
requirements for changes in a Member’s elections as to time and form of payment of
his Plan benefit shall not apply in the case of a distribution pursuant to Section
6.2 or 7.5(b) (Unforeseeable Financial Emergency) or any other earlier payment of a
Plan benefit otherwise permitted and not considered an election change or
acceleration under Section 409A of the Code.

(d) The entitlement to installment payments from a Member’s Pre-2011 Accounts
or each Deferral Component of any Class Year Subaccount shall each be treated as the
entitlement to a single payment with respect to such Account or Deferral Component,
as applicable, for purposes of Section 409A of the Code and applicable
administrative guidance thereunder. Based on this treatment, when applying the
election change restrictions of Section 6.3 and Section 7.3(c), a change to the time
or form of payment of a Deferral Component of a particular Class Year Subaccount
must result in an additional deferral for a minimum of five years from the date that
the first installment from such subaccount would have otherwise been paid. For
example, a 10 year installment payout of a Member’s Base Salary Deferral Component
of his 2011 Class Year Subaccount scheduled to commence in 2015 could be changed to
a lump sum payment payable in 2020 or a series of installment payments commencing in
2020, assuming the other requirements of Section 6.3 or 7.3(c), as applicable, have
been met. In this example, a separate election to change the payment timing, made
in accordance with the requirements of Section 7.3(c), would be required to be made
if a Member desired to change the time and form of distribution of any other portion
of the Member’s Accounts which is separately accounted for by the Plan.”

14. The following provision shall be added at the end of Section 12.3(d) of the Plan:

“; provided, however, that, such Member’s Consulting Pay for Plan Years from and
after the Plan Year beginning January 1, 2011 shall be subject to separate elections
for each Plan Year by Class Year Subaccount, and he shall not be permitted to make
separate deferral or time and form of payment elections by type of Compensation
earned with respect to a Plan Year.”

15. Section 13.2(3) of the Plan shall be deleted and the following shall be substituted
therefor:

	 	 	 	“(3) Director Compensation. The pay paid in cash to or for the
benefit of a Member for services performed while a Member with respect to such
Member’s (i) general service as a Director, (ii) membership on a committee of
the Board, (iii) chairmanship of any such committee and (iv) attendance
(physically or otherwise) at any meeting of the Board or committee thereof,
including the portion thereof that a Member could have received in cash or in
lieu of deferrals made pursuant to Section 13.4(b). Notwithstanding the
foregoing, in the event that a Director has elected to defer Director
Compensation for a Plan Year and, after the start of such Plan Year, the
Company provides such Director with the option of receiving all or part of such
Director Compensation as Director Mid-Year Stock Compensation, such Director
Mid-Year Stock Compensation will be deferred as “Director Compensation” in
accordance with his deferral election made pursuant to Section 13.4(b) for such
Plan Year. For the avoidance of doubt, ‘Director Compensation’ shall not
include Director Regular Stock Compensation.”	 

16. A new Section 13.2(4A) shall be added to the Plan as follows:

	 	 	 	“(4A) Director Mid-Year Stock Compensation. Compensation to a
Member for his services as a Director that would be payable to the Director in
cash and included as ‘Director Compensation’ but as to which the Member has
made an election, after the start of the Plan Year, to receive such
compensation in shares of Common Stock.”	 

17. Section 13.2(5) shall be deleted and the following shall be substituted therefor:

	 	 	 	“(5) Director Regular Stock Compensation. Compensation payable to a
Member for his services as a Director which is (a) required by the Company to
be paid in shares of Common Stock in accordance with the Company’s regular
practices for payment of compensation to Directors or (b) any other
compensation for services as a Director that, prior to the start of any Plan
Year, the Director has elected to receive as shares of Common Stock. Director
Regular Stock Compensation shall not be subject to deferral under the Plan.”	 

18. Section 13.4(g) of the Plan shall be deleted and the following shall be substituted
therefor:

“(g) For Plan Years beginning on or after January 1, 2011, with respect to such
Member, a Deferral Component shall mean the portion of such Member’s Class Year
Subaccount established with respect to a Plan Year that is attributable to (i) such
Member’s deferrals for such Plan Year of Director Compensation paid with respect to
such Member’s general service as a Director (“General Service Director
Compensation”), (ii) such Member’s deferrals for such Plan Year of any other
category of Director Compensation, including committee membership and/or
chairmanship and meeting fees (“Other Director Compensation”), or (iii) Employer
Deferrals made on behalf of such Member for such Plan Year, as applicable. Such
Member’s deferrals for a Plan Year and Employer Deferrals made on such Member’s
behalf for a Plan Year shall be credited to the applicable Deferral Component
(General Service Director Compensation, Other Director Compensation or Employer
Deferral, as applicable) under such Member’s Class Year Subaccount for such Plan
Year, and such Member shall be entitled to make elections with respect to each such
Deferral Component in accordance with the applicable provisions of the Plan;
provided, however, that such Member shall not be entitled to elect a Scheduled
In-Service Withdrawal pursuant to Sections 3.1(d)(ii) and 6.3; and”

19. Section 13.4(h) of the Plan shall be deleted and the following shall be substituted
therefor:

“(h) If such Member’s election pursuant to Section 13.3(b) applies to Director
Mid-Year Stock Compensation, the Member shall be granted a Phantom Stock Award under
the 2007 LTIP, or any subsequent equity compensation plan that may be adopted by the
Company, under which the Member shall have a right to receive the shares of Common
Stock that are subject to such Member’s deferral election at the time and in the
form of payment prescribed in accordance with Article VII of this Plan, and such
Phantom Stock Award shall be treated as part of the Member’s Deferral Account for
purposes of the Plan. Notwithstanding anything to the contrary herein, the
provisions of Article IV of this Plan shall not apply with respect to the portion of
the Member’s Account attributable to any such Phantom Stock Award and the shares of
Common Stock that may be deliverable pursuant thereto and, for the avoidance of
doubt, the only earnings or losses attributable to such portion of a Member’s
Account shall be the changes in value associated with the shares of Common Stock
subject to such Phantom Stock Award or deliverable pursuant thereto and any stock
dividends on such shares of Common Stock; provided, however, that any cash dividends
received in connection with such portion of the Member’s Account shall be subject to
deemed investment in accordance with Article IV of this Plan. Any shares of Common
Stock attributable to Director Mid-Year Stock Compensation deferred under the Plan
that, pursuant to the terms of the applicable Phantom Stock Award, are deliverable
at any time prior to the time of payment for the Member’s Account, as determined in
accordance with Section 7.2, shall be delivered to the Company, and the Member shall
have no preferred claim or beneficial ownership interest in any such shares.
Further, the Member shall have no voting, tender, or similar rights with respect to
any such shares. With respect to any dividends payable with respect to Director
Mid-Year Stock Compensation deferred under the Plan, such dividends shall be
deferred under the Plan as Member Deferrals and shall be credited to the Member’s
Deferral Account. In valuing Director Mid-Year Stock Compensation deferred under
the Plan for purposes of Section 7.5 and otherwise under the Plan, each share of
Common Stock shall be treated as having a value on any specified date equal to the
Fair Market Value thereof, as defined under the 2007 LTIP. In payment of a Member’s
Account pursuant to Article VII of this Plan, no fractional shares of Common Stock
shall be paid and cash equal to the Fair Market Value of any such fractional shares
shall be paid in lieu thereof.”

II. For the avoidance of doubt, the amendments to the Plan set forth in this instrument shall be
inapplicable to the Grandfathered Subaccounts. In addition, time and form of payment elections
established with respect to Members’ Scheduled Withdrawal Accounts and Pre-2011 Accounts prior to
January 1, 2011 shall not be affected by the changes in election process described in this
instrument, but may be subject to change as provided in Section 6.3(b) or 7.3, and the portion of a
Member’s Pre-2011 Account attributable to Employer Deferrals shall be payable only at the time
specified in Section 7.2.

III. Capitalized terms used but not defined in this instrument shall have the meanings attributed
to such terms in the Plan.

IV. As amended hereby, the Plan is specifically ratified and reaffirmed.

IN WITNESS WHEREOF, the undersigned has caused these presents to be executed this
10th day of November , 2010, effective for all purposes as provided
above.

GROUP 1 AUTOMOTIVE, INC.

	 	 	 	 	 
	By:
	 	 	 	/s/ J. Brooks O’Hara

	 	 	 
	 	 

	 	 	Name:
	 	J. Brooks O’Hara

	 	 	 	 	 

	 	 	Title:
	 	Vice President, Human ResourcesEX-10.1

AGREEMENT

THIS AGREEMENT, is signed as of November 9, 2010 and effective as of November 4, 2010
(“Effective Date”) by and between CME Group Inc. (“Employer” or “CME”), a Delaware Business
Corporation, having its principal place of business at 20 South Wacker Drive, Chicago, Illinois,
and Terrence A. Duffy (“Executive”).

R E C I T A L S:

WHEREAS, Employer wishes to continue to retain the services of Executive in the capacity of
Executive Chairman of the Employer’s Board of Directors (the “Board”), upon the terms and
conditions hereinafter set forth and Executive wishes to continue such employment;

NOW, THEREFORE, in consideration of the mutual promises contained herein, the parties mutually
agree as follows:

	1.	 	Employment. Subject to the terms of the Agreement, Employer hereby agrees to employ
Executive during the Agreement Term as Executive Chairman, and Executive hereby accepts such
employment. Executive shall perform such duties as have been associated with the office of
Executive Chairman since the Executive assumed the duties of Executive Chairman in 2006 and
such other duties commensurate with such position as Executive and the Board may mutually
agree.

Notwithstanding anything to the contrary contained herein, nothing in the Agreement shall
preclude Executive from participating in the affairs of any governmental, educational or
other charitable institution, engaging in professional speaking and writing activities, and
serving as a member of the board of directors of a publicly held corporation (except for a
competitor of Employer), provided Executive notifies the Governance Committee of the Board
prior to his participating in any such activities and as long as the Governance Committee
does not determine that any such activities interfere with or diminish Executive’s
obligations under the Agreement. Executive shall be entitled to retain all fees, royalties
and other compensation derived from such activities, in addition to the compensation and
other benefits payable to him under the Agreement, but shall disclose such fees to Employer.

	2.	 	Agreement Term. Executive shall be employed hereunder for a term which expires on
the date of Employer’s 2013 annual meeting of shareholders (“Agreement Term”). The Agreement
Term shall be subject to early termination as set forth herein.

	3.	 	Compensation.

	 	(a)	 	Annual Base Salary. During the Agreement Term, Employer shall pay to
Executive a base salary at a rate not less than $1,000,000 per year (“Base Salary”),
payable in accordance with the Employer’s normal payment schedule.

	 	(b)	 	Bonuses. Executive shall be eligible to participate in the Employer’s
Annual Incentive Plan (the “AIP”) as in existence or as amended from time to time in
accordance with its terms as applicable to Executive.

	 	(c)	 	Equity Compensation. Executive shall be eligible to participate in the
Chicago Mercantile Exchange Holdings Inc., Amended and Restated Omnibus Stock Plan
(“Plan”) as in existence or as amended from time to time, in accordance with the terms
of the Plan for Employer’s most senior executives. In the event of a “Change of
Control” (as defined in the Plan) that occurs prior to Executive’s termination of
employment with the Employer, all options and shares previously granted to Executive,
whether pursuant to this Agreement or otherwise, will have vesting accelerated so as to
become 100% vested. Thereafter, the options will continue to be subject to the terms,
definitions and provisions of the Plan and any related option agreement. If Executive
is involuntarily terminated without Cause within sixty (60) days prior to a Change of
Control, all unvested options and shares which would have been outstanding had
Executive been employed on the date of Change of Control become 100% vested. Employer
shall cause the Plan and all future grants thereunder to be modified to permit
Executive to transfer awards granted thereunder for estate and tax planning purposes to
members of Executive’s immediate family or to one or more trusts for the benefit of
such family members, partnerships in which such family members are the only partners,
or corporations in which such family members are the only stockholders.

	4.	 	Benefits. Executive shall be entitled to insurance, vacation and other employee
benefits commensurate with his position in accordance with Employer’s policies for executives
in effect from time to time. Executive acknowledges receipt of a summary of Employer’s
employee benefits policies in effect as of the date of this Agreement. In addition, Employer
shall provide Executive with life insurance and long-term disability coverage consistent with
the programs in place for other executives of Employer (which is currently equal to two-thirds
of Executive’s Base Salary upon Executive’s disability (up until age 65) and three times
Executive’s Base Salary in the form of life insurance). In the event that the provision of
life insurance coverage results in taxable income to Executive’s beneficiaries upon his death,
Employer shall pay an additional amount sufficient to put Executive’s beneficiaries in the
same after-tax position as if the life insurance benefits had been provided under an insured
life insurance plan.

	5.	 	Expense Reimbursement. During the Agreement Term, Employer shall reimburse
Executive, in accordance with Employer’s policies and procedures, for all proper expenses
incurred by him in the performance of his duties hereunder.

	6.	 	Termination. Executive’s employment as Executive Chairman shall terminate upon the
occurrence of any of the following events. Upon any termination of Executive’s employment
pursuant to Section 6(c), Executive shall be deemed to have resigned as a member of the Board.

	 	(a)	 	Death. Upon the death of Executive, this Agreement shall automatically
terminate and all rights of Executive and his heirs, executors and administrators to
compensation and other benefits under this Agreement shall cease, except that (i)
compensation which shall have accrued to the date of death, including accrued Base
Salary, and other employee benefits to which Executive is entitled upon his death,
shall be paid or provided in accordance with the terms of the plans and programs of CME
and (ii) Executive shall be fully vested in all outstanding options and shares
previously granted to Executive after the Effective Date (“New Agreement Awards”) that
have not fully vested. The exercise period for options included in the New Agreement
Awards (the “New Agreement Options”) upon such a termination shall be 48 months from
the date of termination (but not beyond the maximum term of the option).

	 	(b)	 	Disability. Employer may, at its option, terminate this Agreement upon
written notice to Executive if Executive, because of physical or mental incapacity or
disability, fails to perform the essential functions of his position required of him
hereunder for a continuous period of 90 days or any 120 days within any 12-month
period. Upon such termination, all obligations of Employer hereunder shall cease,
except that (i) compensation which shall have accrued to the date of disability,
including accrued Base Salary, and other employee benefits to which Executive is
entitled upon his disability, shall be paid or provided in accordance with the terms of
the plans and programs of CME, (ii) Executive shall be fully vested in all New
Agreement Awards that have not fully vested and (iii) Executive shall be entitled to
the medical benefits described in Section 6(f). The exercise period for New Agreement
Options upon such a termination shall be 48 months from the date of termination (but
not beyond the maximum term of the New Agreement Option). In the event of any dispute
regarding the existence of Executive’s disability hereunder, the matter shall be
resolved as follows: (1) by the determination of a physician selected by the Chairman
of the Governance Committee of the Board; (2) Executive shall have the right to
challenge that determination by presenting a contrary determination from a physician of
his choice; (3) in such event, a physician selected by agreement of Executive and the
Chairman of the Governance Committee of the Board will make the final determination.
Executive shall submit to appropriate medical examinations for purposes of making the
medical determinations hereunder.

	 	(c)	 	Cause. Employer may, at its option, terminate Executive’s employment
under this Agreement for Cause. A termination for Cause shall be deemed to occur for
purposes of this Agreement in the event that Executive is removed from the position of
Executive Chairman or removed from the Board and a majority of the independent,
non-industry directors of the Board determine that such removal was as a result of
either (1) Executive’s breach of his fiduciary duty to Employer’s shareholders or (2)
Executive’s willful failure to fulfill his duties and obligations as Executive
Chairman.

The exercise of the right of CME to terminate this Agreement pursuant to this
Section 6(c) shall not abrogate any other rights or remedies of CME in respect of
the breach giving rise to such termination.

If Employer terminates Executive’s employment for Cause, Executive shall be entitled
to accrued Base Salary through the date of the termination of his employment, other
employee benefits to which Executive is entitled upon his termination of employment
with Employer, in accordance with the terms of the plans and programs of CME. Upon
termination for Cause, Executive will forfeit any unvested or unearned compensation
or long-term incentives.

	 	(d)	 	Termination Without Cause. Upon 30 days prior written notice to
Executive, the Board of Directors, by vote or a majority of the independent
non-industry directors may terminate this Agreement for any reason other than a reason
set forth in paragraphs (a), (b) or (c) of this Section 6. If, during the Agreement
Term, the employment of Executive hereunder is terminated for any reason other than a
reason set forth in subsections (a), (b) or (c) of this Section 6:

	 	(1)	 	Executive shall be entitled to receive accrued Base Salary
through the date of the termination of his employment, and other employee
benefits to which Executive is entitled upon his termination of employment with
Employer, in accordance with the terms of the plans and programs of Employer;

	 	(2)	 	subject to Executive’s execution and delivery prior to the
Release Deadline (as defined below) of a general release in a form and of a
substance satisfactory to Employer, Executive shall be entitled to receive a
one time lump sum retention payment equal to the greater of (i) one times
Executive’s annual Base Salary and (ii) the remaining Base Salary payable to
Executive during the Agreement Term, but in no event more than two times
Executive’s annual Base Salary, which shall be paid within 14 days of the later
of the delivery of such general release to Employer or the date on which such
general release becomes irrevocable. For purposes hereof, the “Release
Deadline” means the deadline prescribed by Employer for the execution of the
general release described in this section (d)(2) of Paragraph 6, which deadline
shall in no event be later than 60 days following the date Executive’s
employment terminates;

	 	(3)	 	Executive shall be fully vested in all New Agreement Awards
that have not fully vested. The exercise period for New Agreement Options upon
such a termination shall be 48 months from the date of termination (but not
beyond the maximum term of the New Agreement Option); and

	 	(4)	 	Executive shall be entitled to the medical benefits described
in Section 6(f).

	 	(e)	 	Voluntary Termination. Upon 60 days prior written notice to CME (or
such shorter period as may be permitted by CME), Executive may voluntarily terminate
his employment with CME prior to the end of the Agreement Term for any reason. If
Executive voluntarily terminates his employment pursuant to this subsection (e), he
shall be entitled to receive accrued Base Salary through the date of the termination of
his employment and other employee benefits to which Executive is entitled upon his
termination of employment with CME, in accordance with the terms of the plans and
programs of CME. In addition, if Executive’s employment terminates at any time
following the expiration of the Agreement Term, such termination shall be treated as a
termination under this Section 6(e), except that, upon such termination, Executive
shall be fully vested in all New Agreement Awards that have not fully vested. The
exercise period for New Agreement Options upon such a termination shall be 48 months
from the date of termination (but not beyond the maximum term of the New Agreement
Option). In addition, upon such a termination, Executive shall be entitled to the
medical benefits described in Section 6(f).

	 	(f)	 	Upon a termination of Executive’s employment described in Section 6(b), 6(d) or
6(e), Executive shall be entitled to elect to continue coverage for himself and his
eligible dependents, for up to 48 months following employment termination, under the
medical and dental plans of Employer in which Executive was participating immediately
prior to such employment termination. Executive’s monthly cost for such coverage shall
be (i) the applicable COBRA premium for such coverage (which cost shall be applicable
during the eighteen (18) month period following termination) and (ii) the monthly
premium cost paid by Employer for Executive’s coverage (which cost shall be applicable
following expiration of the 18 month COBRA period). Upon or prior to the commencement
of each 12 month period during the 48 month continuation period, Executive shall inform
Employer whether Executive elects to continue coverage in accordance with this Section
6(f) for such 12 month period. In the event that Executive elects to continue such
coverage, Employer shall pay to Executive an amount, in a lump sum within 30 days
following the commencement of such 12 month period, equal to 150% of Executive’s total
potential monthly cost for such coverage for such 12 month period (based upon the rates
in effect at the time of such election). No payment will be made if (and to the
extent) Executive does not elect to continue coverage. Notwithstanding the foregoing
timing requirements, with respect to the initial 12 month period, payment of the lump
sum amounts payable under this Paragraph 6(f) up to the maximum amount allowed for de
minimis payments under IRS Code Section 409A (“Section 409A”) shall be paid within
fourteen (14) days of termination of Executive’s employment. The remainder of the lump
sum amounts with respect to the first 12 month period, if any, shall be paid six (6)
months after the date Executive terminates employment. Notwithstanding anything in
this Section 6(f) to the contrary, Executive’s continued coverage under such plans
shall end upon the date, if any, when Executive obtains comparable coverage (as
compared to the coverage provided under the applicable plans of Employer) from a
subsequent employer of Executive or Executive’s spouse.

	 	(g)	 	All awards of options and shares granted prior to the Effective Date shall be
governed by the terms and conditions of such awards at the time of grant.

	 	(h)	 	If at the end of the Agreement Term, or any additional term, Executive is
willing and able to serve another term as Executive Chairman and is not nominated for
reelection to the Board and/or is not reelected to the position of Executive Chairman
by the members of the Board, if he is eligible, such event shall be treated as a
termination of Executive governed by Section 6(d) of this Agreement; provided, that if
the Executive has not been reelected because of his breach of fiduciary duty to the
shareholders or because of his willful failure to fulfill his duties and obligations as
Executive Chairman, all as determined by a majority of the independent, non-industry
directors of the Board, then such termination shall be treated as a termination
governed by Section 6(c) of this Agreement.

	7.	 	Confidential Information and Non-Compete. Executive acknowledges that the successful
development of CME’s services and products, including CME’s trading programs and systems,
current and potential customer and business relationships, and business strategies and plans
requires substantial time and expense. Such efforts generate for CME valuable and proprietary
information (“Confidential Information”) which gives CME a business advantage over others who
do not have such information. Confidential information includes, but is not limited to the
following: trade secrets, technical, business, proprietary or financial information of CME not
generally known to the public, business plans, proposals, past and current prospect and
customer lists, trading methodologies, systems and programs, training materials, research data
bases and computer software; but shall not include information or ideas acquired by Executive
prior to his employment with CME if such pre-existing information is generally known in the
industry and is not proprietary to CME.

	 	(a)	 	Executive shall not at anytime during the Agreement Term or thereafter, make
use of or disclose, directly or indirectly to any competitor or potential competitor of
CME, or divulge, disclose or communicate to any person, firm, corporation, or other
legal entity in any manner whatsoever, or for his own benefit and that of any person or
entity other than Employer, any Confidential Information. This subsection shall not
apply to the extent Executive is required to disclose Confidential Information to any
regulatory agency or as otherwise required by law; provided, however, that Executive
will promptly notify Employer if Executive is requested by any entity or person to
divulge Confidential Information, and will use his best efforts to ensure that Employer
has sufficient time to intervene and/or object to such disclosure or otherwise act to
protect its interests. Executive shall not disclose any Confidential Information while
any such objection is pending.

	 	(b)	 	Executive agrees that while employed and for a period of one (1) year following
the termination of his employment with CME for any reason, Executive will not accept
employment with or act or provide services as an independent contractor or consultant
for or on behalf of or serve on the Board of Directors (or similarly governing body) or
any advisory committees of any derivatives exchange or for any person, organization or
entity providing clearing services. Executive acknowledges that such restriction is
necessary to protect the Confidential Information he learned through his employment
with Employer.

	 	(c)	 	Upon termination for any reason, Executive shall return to Employer all
records, memoranda, notes, plans, reports, computer tapes and equipment, software and
other documents or data which constitute Confidential Information which he may then
possess or have under his control (together with all copies thereof) and all credit
cards, keys and other materials and equipment which are Employer’s property that he has
in his possession or control.

	 	(d)	 	If, at any time of enforcement of this Section 7, a court holds that the
restrictions stated herein are unreasonable, the parties hereto agree that a maximum
period, scope or geographical area reasonable under the circumstances shall be
substituted for the stated period, scope or area and that the court shall be allowed to
revise the restrictions contained herein to cover the maximum period, scope and area
permitted by law.

	8.	 	Non-solicitation.

	 	(a)	 	General. Executive acknowledges that Employer invests in recruiting and
training, and shares Confidential Information with, its employees. As a result,
Executive acknowledges that Employer’s employees are of special, unique and
extraordinary value to Employer.

	 	(b)	 	Non-solicitation. Executive further agrees that for a period of one (1)
year following the termination of his employment with CME for any reason he shall not
in any manner, directly or indirectly, induce or attempt to induce any employee of CME
to terminate or abandon his or her employment with CME for any purpose whatsoever.

	 	(c)	 	Reformation. If, at any time of enforcement of this Section 8, a court
holds that the restrictions stated herein are unreasonable, the parties hereto agree
that the maximum period, scope or geographical area reasonable under the circumstances
shall be substituted for the stated period, scope or area and that the court shall be
allowed to revise the restrictions contained herein to cover the maximum period, scope
and area permitted by law.

	9.	 	Intellectual Property. During the Agreement Term, Executive shall disclose to CME
and treat as confidential information all ideas, methodologies, product and technology
applications that he develops during the course of his employment with CME that relates
directly or indirectly to CME’s business. Executive hereby assigns to CME his entire right,
title and interest in and to all discoveries and improvements, patentable or otherwise, trade
secrets and ideas, writings and copyrightable material, which may be conceived by Executive or
developed or acquired by him during his employment with CME, which may pertain directly or
indirectly to the business of the CME. Executive shall at any time during or after the
Agreement Term, upon CME’s request, execute, acknowledge and deliver to CME all instruments
and do all other acts which are necessary or desirable to enable CME to file and prosecute
applications for, and to acquire, maintain and enforce, all patents, trademarks and copyrights
in all countries with respect to intellectual property developed or which was being developed
during Executive’s employment with CME.

	10.	 	Remedies. Executive agrees that given the nature of CME’s business, the scope and
duration of the restrictions in paragraphs 7, 8 and 9 are reasonable and necessary to protect
the legitimate business interests of CME and do not unduly interfere with Executive’s career
or economic pursuits. Executive recognizes and agrees that a breach of any or all of the
provisions of Sections 7, 8 and 9 will constitute immediate and irreparable harm to CME’s
business advantage, for which damages cannot be readily calculated and for which damages are
an inadequate remedy. Accordingly, Executive acknowledges that CME shall therefore be entitled
to seek an injunction or injunctions to prevent any breach or threatened breach of any such
section. Such injunctive relief shall not be Employer’s sole remedy. Executive agrees to
reimburse CME for all costs and expenses, including reasonable attorney’s fees and costs,
incurred by CME in connection with the successful enforcement of its rights under Sections 7,
8 and 9 of this Agreement.

	11.	 	Survival. Sections 7, 8, 9, 10 and 12 of this Agreement shall survive and continue
in full force and effect in accordance with their respective terms, notwithstanding any
termination of the Agreement.

	12.	 	Arbitration. Except with respect to Sections 7, 8, and 9, any dispute or controversy
between CME and Executive, whether arising out of or relating to this Agreement, the breach of
this Agreement, or otherwise, shall be settled by arbitration in Chicago, Illinois, in
accordance with the following:

	 	(a)	 	Arbitration hearings will be conducted by the American Arbitration Association
(AAA). Except as modified herein, arbitration hearings will be conducted in accordance
with AAA’s rules.

	 	(b)	 	State and federal laws contain statues of limitation which prescribe the time
frames within which parties must file a law suit to have their disputes resolved
through the court system. These same statutes of limitation will apply in determining
the time frame during which the parties must file a request for arbitration.

	 	(c)	 	If Executive seeks arbitration, Executive shall submit a filing fee to the AAA
in an amount equal to the lesser of the filing fee charged in the state or federal
court in Chicago, Illinois. The AAA will bill Employer for the balance of the filing
and arbitrator’s fees.

	 	(d)	 	The arbitrator shall have the same authority to award (and shall be limited to
awarding) any remedy or relief that a court of competent jurisdiction could award,
including compensatory damages, attorney fees, punitive damages and reinstatement.
Employer and Executive may be represented by legal counsel or any other individual at
their own expense during an arbitration hearing.

	 	(e)	 	Judgment on the award rendered by the arbitrator may be entered in any court
having jurisdiction thereof.

	 	(f)	 	Except as necessary in court proceedings to enforce this arbitration provision
or an award rendered hereunder, or to obtain interim relief, neither a party nor an
arbitrator may disclose the existence, content or results of any arbitration hereunder
without the prior written consent of CME and Executive.

	13.	 	Notices. All notices and other communications required or permitted hereunder shall
be in writing and shall be deemed given when (i) delivered personally or by overnight courier
to the following address of the other party hereto (or such other address for such party as
shall be specified by notice given pursuant to this Section) or (ii) sent by facsimile to the
following facsimile number of the other party hereto (or such other facsimile number for such
party as shall be specified by notice given pursuant to this Section), with the confirmatory
copy delivered by overnight courier to the address of such party pursuant to this Section 13:

If to CME, to:

Board of Directors

c/o Chairman of the Governance Committee

CME Group Inc.

20 South Wacker Drive

Chicago, IL 60606

(312) 930-3100

With a copy to:

Kathleen M. Cronin

Managing Director, General Counsel and Corporate Secretary

Chicago Mercantile Exchange Inc.

20 South Wacker Drive

Chicago, IL 60606

(312) 930-3488

If to Executive, to:

Terrence A. Duffy

25 115th Street

Lemont, IL 60439

	14.	 	Severability. Whenever possible, each provision of this Agreement shall be
interpreted in such manner as to be effective and valid under applicable law, but if any
provision of this Agreement is held to be invalid, illegal or unenforceable in any respect
under applicable law or rule in any jurisdiction, such invalidity, illegality or
unenforceability shall not affect the validity, legality or enforceability of any other
provision of this Agreement or the validity, legality or enforceability of such provision in
any other jurisdiction, but this Agreement shall be reformed, construed and enforced in such
jurisdiction as if such invalid, illegal or unenforceable provision had never been contained
herein.

	15.	 	Entire Agreement. This Agreement constitutes the entire Agreement and understanding
between the parties with respect to the subject matter hereof and supersedes and preempts any
prior understandings, agreements or representations by or between the parties, written or
oral, which may have related in any manner to the subject matter hereof. No other agreement or
amendment to this Agreement shall be binding upon either party including, without limitation,
any agreement or amendment made hereafter unless in writing, signed by both parties. Executive
acknowledges that each of the parties has participated in the preparation of this Agreement
and for purposes of principles of law governing the construction of the terms of this
Agreement, no party shall be deemed to be the drafter of the same.

	16.	 	Successors and Assigns. This Agreement shall be enforceable by Executive and his
heirs, executors, administrators and legal representatives, and by CME and its successors and
assigns.

	17.	 	Governing Law. This Agreement shall be governed by and construed and enforced in
accordance with the laws of the State of Illinois without regard to principles of conflict of
laws.

	18.	 	Acknowledgment. Executive acknowledges that he has read, understood, and accepts the
provisions of this Agreement.

	19.	 	IRS Code Section 409A. The intent of the parties is that payments and benefits under
this Agreement comply with Section 409A, to the extent subject thereto, and accordingly, to
the maximum extent permitted, this Agreement shall be interpreted and administered to be in
compliance therewith. Notwithstanding anything contained herein to the contrary, Executive
shall not be considered to have terminated employment with the Company for purposes of any
payments under this Agreement which are subject to Section 409A until Executive would be
considered to have incurred a “separation from service” from the Company within the meaning of
Section 409A. Each amount to be paid or benefit to be provided under this Agreement shall be
construed as a separate identified payment for purposes of Section 409A, and any payments
described in this Agreement that are due within the “short term deferral period” as defined in
Section 409A shall not be treated as deferred compensation unless applicable law requires
otherwise. Without limiting the foregoing and notwithstanding anything contained herein to
the contrary, to the extent required in order to avoid accelerated taxation and/or tax
penalties under Section 409A, amounts that would otherwise be payable and benefits that would
otherwise be provided pursuant to this Agreement during the six-month period immediately
following Executive’s separation from service shall instead be paid on the first business day
after the date that is six months following Executive’s separation from service (or, if
earlier, Executive’s death). To the extent required to avoid accelerated taxation and/or tax
penalties under Section 409A, amounts reimbursable to Executive under this Agreement shall be
paid to Executive on or before the last day of the year following the year in which the
expense was incurred and the amount of expenses eligible for reimbursement (and in-kind
benefits provided to Executive) during any one year may not effect amounts reimbursable or
provided in any subsequent year.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first
written above.

	 	 	 
	CME Group Inc.

	 	Terrence A. Duffy
	By: /s/ Daniel R. Glickman

	 	/s/ Terrance A. Duffy
	 

	 	 

Daniel R. Glickman

Chairman of the Goverance Committee

Board of Directors

CME Group Inc.

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