AGREEMENT

EXHIBIT 14

AGREEMENT

Pursuant to Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, the undersigned hereby agree that only one statement containing the information required by Schedule 13D need be filed with respect to the ownership by each of the undersigned of shares of common stock, par value $0.01, of Paramount Group, Inc.

EXECUTED this 4th day of December, 2014.

Dated: December 4, 2014	XXXXXXXXX XXXX
	By: KG CURA Vermögensverwaltung, G.m.b.H. & Co., by power of attorney for Xxxxxxxxx Xxxx
	By:	/s/ Xxxxxx Xxxxxxxx
		Xxxxxx Xxxxxxxx
		Managing Director
Dated: December 4, 2014	AROSA Vermoegensverwaltungsgesellschaft m.b.H.
	By:	/s/ Xxxxxx Xxxxxxxx
		Xxxxxx Xxxxxxxx
		Managing Director
	By:	/s/ Xxxxxx Xxxxx
		Xxxxxx Xxxxx
		Managing Director
Dated: December 4, 2014	XXXXXXXXX XXXX-XXXXXXXXX
	By: KG CURA Vermögensverwaltung, G.m.b.H. & Co., by power of attorney for Xxxxxxxxx Xxxx-Xxxxxxxxx
	By:	/s/ Xxxxxx Xxxxxxxx
		Xxxxxx Xxxxxxxx
		Managing Director
Dated: December 4, 2014	XXXXX XXXX
	By: KG CURA Vermögensverwaltung, G.m.b.H. & Co., by power of attorney for Xxxxx Xxxx
	By:	/s/ Xxxxxx Xxxxxxxx
		Xxxxxx Xxxxxxxx
		Managing Director