2013 Short-Term Realogy Executive Incentive Plan Design

The 2013 Short-Term Realogy Executive Incentive Plan Design (the "2013 EIP" or "Incentive Plan") is designed to reward Realogy's Chief Executive Officer and the Realogy Chief Executive Officer Direct Reports (collectively, the “Executive Leadership Committee” or “ELC”) for their contributions to the financial success of Realogy Holdings Corp. ("Realogy" or the "Company") and its business units ("Business Units"). The Incentive Plan is being established under and is subject to the Company's 2012 Short-Term Incentive Plan and the Realogy Holdings Corp. 2012 Long-Term Incentive Plan (the “LTIP”).

The Incentive Plan applies to the period January 1, 2013 through December 31, 2013 (the "2013 EIP Year").

Any incentive earned under the Incentive Plan (the "Incentive") is earned in cash unless the participant elects, in accordance with the requirements of Section 409A of the Internal Revenue Code ("Section 409A") to receive a restricted stock unit grant in lieu of cash for any payments made in excess of their target annual bonus amounts. A ten-percent (10%) premium will be applied to any payments made through a restricted stock unit grant.

To be eligible to participate in the Incentive Plan, the following criteria must be met by a participant:

Participants who are otherwise eligible to receive an incentive award pursuant to a separate Company or Business Unit incentive plan are ineligible for participation in the Incentive Plan unless an exception is approved in writing (including email) by the Compensation Committee of the Board of Realogy Holdings Corp., or a sub-committee of the Compensation Committee (“Compensation Committee”).

Participants in the Incentive Plan must also meet the following criteria to be eligible for an Incentive:

Incentive payments, if any, will be determined as soon as reasonably practicable following approval by the Board of Directors of the Company (the "Board") of the audit of the consolidated financial statements of the Company and its subsidiaries for the year ended December 31, 2013, but in no event later than 2 1/2 months following the last day of the 2013 calendar year.

payment will be paid as a paper check. If the participant utilizes direct deposit, the Incentive payment will be electronically deposited.

Each 2013 EIP participant has a Target Incentive Percentage which is primarily based on his/her position as specified in their employment agreements. The Target Incentive Percentage refers to a percentage of each 2013 EIP participant's base salary that will determine the target funding pool assuming the targeted financial performance level is achieved. A participant under the Incentive Plan has the ability to receive an Incentive of up to 150% of the sum represented by application of the participant's Target Incentive Percentage to base salary. Achievement with respect to the Incentive Plan shall be determined by Incentive Plan EBITDA performance. The total of all Incentive Plan participants' target funding is referred to as the Target Incentive Funding Pool.

The Company or the Compensation Committee shall establish Incentive Plan EBITDA (earnings before interest, taxes, depreciation and amortization) performance levels (in each case excluding legacy and restructuring costs, as well as any other items considered by the Compensation Committee in its sole discretion but after reflecting Incentive accruals under the Incentive Plan) for consolidated Realogy results and for each Business Unit and the corresponding payout targets applicable to achievement of such performance objectives. The specific term, Incentive Plan EBITDA, and the formula thereof shall be provided by the Compensation Committee and shall not be controlled by calculations used for other financial purposes. The Actual Incentive Funding Pool sums will be set in accordance with the achievement of Incentive Plan EBITDA levels subject to adjustments described below. The Actual Incentive Funding Pool will be approved by the Compensation Committee following the end of the Incentive Plan Year based upon the extent to which the actual Realogy Incentive Plan EBITDA and Business Unit Incentive Plan EBITDA have been achieved.

Subject to the right of the Compensation Committee to exercise negative discretion based upon the actual performance of an individual participant, once the Actual Incentive Funding Pool is determined based on the Incentive Plan EBITDA, the entire Actual Incentive Funding Pool earned will be distributed to the 2013 EIP participants as described below:

Subject to the next sentence, the number of restricted stock units to be issued is equal to the quotient determined by dividing (1) the dollar amount of a participant's Incentive that is earned in the form of a restricted stock unit grant by (2) the closing price of Realogy Holdings Corp. shares just prior to the Incentive payment date. The number of units to be issued in the restricted stock unit grant shall be the number of units determined by the formula in the preceding sentence, multiplied by 1.10 (as noted under the Restricted Stock Unit Multiplier column in the foregoing table).

Market Value (as defined in the Stock Incentive Plan) equal to the minimum amount of required withholding under applicable law. If a participant elects to pay cash taxes for the RSU's and does not make the cash tax payment for the RSU's within 5 business days of request by the Company, the Company reserves the right to withhold the number of Shares with a Fair Market Value (as defined in the Stock Incentive Plan) equal to the minimum amount of required withholding under applicable law.

Notwithstanding anything to the contrary in a participant's a written employment agreement:

The Compensation Committee reserves the right to suspend, or terminate the Incentive Plan at any time.

If the Compensation Committee determines that a participant has violated any of the policies contained in the Realogy Code of Ethics or Key Policies, he/she is no longer eligible to receive an Incentive in accordance with the Incentive Plan, subject to any provisions in an Employment Agreement governing Target Bonus payments to a participant.

The intent of the parties is that payments and benefits under the Incentive Plan be exempt from or comply with Section 409A of the Code, to the extent subject thereto, and accordingly, to the maximum extent permitted, the Incentive Plan shall be interpreted and administered to be in compliance therewith. Notwithstanding anything contained herein to the contrary, to the extent required in order to avoid accelerated taxation and/or tax penalties under Section 409A of the Code, a participant shall not be considered to have terminated employment with the Company for purposes of the Incentive Plan unless the participant would be considered to have incurred a "separation from service" from the Company within the meaning of Section 409A of the Code. Each amount to be paid or benefit to be provided under the Incentive Plan shall be construed as a separate identified payment for purposes of Section 409A of the Internal Revenue Code (“Code”), and any payments described in the Incentive Plan that are due within the "short term deferral period" as defined in Section 409A of the Code 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 of the Code, amounts that would otherwise be earned and benefits that would otherwise be provided pursuant to the Incentive Plan during the six-month period immediately

following a participant's separation from service shall instead be paid on the first business day after the date that is six months following the participant's separation from service (or death, if earlier). The Incentive Plan may be amended during the 2013 Plan Year in any respect deemed by the Board or the Compensation Committee to be necessary in order to preserve compliance with, or exemption from, Section 409A of the Code.

The Incentive Plan shall not be construed to create a contract of employment between the Company and the eligible employee for any specified period of time, nor is it intended to alter an existing Employment Agreement establishing the duration of the employment relationship between the eligible employee and the Company.