Jones Lang LaSalle Global Executive Board Salary Reduction Agreement (2020)

Summary

This agreement is between members of the Global Executive Board (GEB) of Jones Lang LaSalle, Inc. (JLL) and the company. GEB members voluntarily agree to a 50% reduction in their base salaries from April 1, 2020, through December 31, 2020, to help manage costs during a global crisis. The agreement states that full salaries will be reinstated on January 1, 2021, and that this reduction does not constitute a breach of contract or grounds for employment termination. Participation is confirmed by replying in agreement to the terms.

EX-10.1 2 exhibit101-globalexecu.htm EXHIBIT 10.1 Exhibit

Exhibit 10.1

FORM OF GLOBAL EXECUTION BOARD SALARY REDUCTION AGREEMENT

From: Bilbrey, Mary

Sent: Wednesday, April 1, 2020

To: Global Executive Board

Subject: GEB Salary reduction agreement

Colleagues,

For good governance, and to formally document our agreement to cut our base salaries by 50% for the remainder of the year, please read the below and reply to me with your agreement.


•	As a member of the Global Executive Board (“GEB”) of Jones Lang LaSalle, Inc. (together with its affiliates referenced herein as “JLL”), I agree to a temporary 50% base salary reduction effective April 1, 2020 through December 31, 2020 (“Base Salary Reduction”).


•	Effective January 1, 2021, my current base salary that was in effect prior to the reduction (or any different amount that might be contractually required) will be reinstated.


•	This Base Salary Reduction is voluntary and does not constitute a violation by JLL of any contractual, statutory or other right, nor does it provide a basis for termination of employment based on default or breach of any obligation by JLL, contractual or otherwise (e.g., a termination by employee for “Good Reason”).


•	By responding to this agreement, I agree to the above Base Salary Reduction.

Thank you for leading from the top as we proactively manage costs and cash flow during a time of global crisis.

Regards,

Mary