THIS BROKER AFFILIATE LICENSE AGREEMENT (the "Broker Affiliate License Agreement" or "Agreement") is made and entered into this day of, 20 (the "Effective Date"), between Christie's International Real Estate, LLC, a Delaware limited liability company, with a principal place of business at 806 N. Peoria Street, Chicago, IL 60642 ("we," "us" or "our"), and , a [resident of / corporation organized in / limited liability company organized in] the state of ("you" or "your").

BACKGROUND

• A. As a result of our investment of time, skill, effort, and resources, we have developed and continue to develop a unique system for the development and operation of a business that offers luxury real estate brokerage products and services under the Marks (as defined in Section 21.9 below) and System (as defined in Section 21.13 below).
• B. We grant qualified persons the right to develop, own and operate a licensed CHRISTIE'S INTERNATIONAL REAL ESTATE business using the Marks and System as a CHRISTIE'S INTERNATIONAL REAL ESTATE broker affiliate ("Broker Affiliate" or "Affiliate"), and you desire to obtain the right to develop and operate a licensed CHRISTIE'S INTERNATIONAL REAL ESTATE business using the Marks and System.
• C. We have agreed to grant you the right to develop and operate a licensed CHRISTIE'S INTERNATIONAL REAL ESTATE business subject to the terms and conditions of this Agreement (including all exhibits and related documents) and our Operations Manual.

AGREEMENTS

NOW, THEREFORE, for value received, you and we ("the Parties") agree as follows:

1. GRANT

• 1.1. Grant. Subject to the provisions contained in this Agreement, including all exhibits and related documents, and Operations Manual, we grant you a non-exclusive license to own and operate a CHRISTIE'S INTERNATIONAL REAL ESTATE business (the "Business"). The physical address of your Business ("Main Office") must be located within the Protected Territory and approved by us in writing before you can begin to operate your Business. Your Main Office and the Protected Territory are identified in Exhibit 1 to this Agreement. You may not relocate your Main Office without our prior written consent, as described in Section 5.2 of this Agreement.
• 1.2 Nature of the Protected Territory. Except as described below, and except as modified by Exhibit 1 (if applicable), neither we nor our affiliates will establish and operate, or grant licenses or franchises to others to establish and operate a CHRISTIE'S INTERNATIONAL REAL ESTATE business within the Protected Territory during the term of this Agreement, so long as you are in compliance with this Agreement. The license granted to you under this Agreement is personal in nature and shall only be used from the Main Office and any Additional Office authorized by us. Notwithstanding the preceding sentence, and subject to the terms of this Agreement, you shall have the right to offer and sell real estate brokerage services identified by the Marks through any other channels of distribution, including the Internet but excluding the metaverse. We reserve, maintain, and control all rights with respect to said metaverse. As used herein, "metaverse" means any 3D virtual space powered by technologies – including virtual reality, augmented reality, artificial intelligence, the Internet of Things, and blockchain – that allows people to interact with each other and to have lifelike experiences online. The rights granted under this Agreement are subject to the limitations set forth in the Operations Manual or as we otherwise periodically prescribe, which may include certain territorial policies that we establish or modify from time to time. You may not establish or operate any CHRISTIE'S INTERNATIONAL REAL ESTATE office outside the Protected Territory, unless we permit you to do so under a separate broker Affiliate license agreement. You may not subfranchise or sublicense any of your rights under this Agreement.

Source: Item 23 — RECEIPT (FDD pages 54–177)