Senior Management Agreement



 Exhibit 10.17 
 SENIOR MANAGEMENT AGREEMENT 
 BY AND BETWEEN 
 HURON CONSULTING GROUP INC. 
 AND

 NATALIA DELGADO 







 SENIOR MANAGEMENT AGREEMENT 
 SENIOR MANAGEMENT AGREEMENT (the “Agreement”), effective as of
January 1st, 2008 (the “Agreement Date”), by and between Huron Consulting Group Inc., a Delaware corporation (the
“Company” or “Huron”), and Natalia Delgado (“Executive”). 
 PRELIMINARY RECITALS 

 A. WHEREAS, Huron and its affiliates are engaged in the business of providing diversified business consulting services (the
“Business”). For purposes of this Agreement (except where the context contemplates otherwise), the term the “Company” shall include Huron, its subsidiaries and assignees and any successors in interest of the Company
and its subsidiaries; and 
 B. WHEREAS, the Company currently employs the Executive and desires to continue to employ the Executive from and
after the Effective Date, and the Executive desires to continue to be so employed by the Company, as set forth herein. 
 NOW, THEREFORE, in
consideration of the premises, the mutual covenants of the parties hereinafter set forth and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 

1. Employment. 
 1.1 Title and
Duties. The Company agrees to continue to employ the Executive, and the Executive agrees to accept such continuing employment with the Company, as managing director and Vice President, General Counsel and Corporate Secretary for the Employment
Period, in accordance with the terms and conditions of this Agreement. During the Employment Period, Executive shall have such responsibilities, duties and authorities as are customarily assigned to such position and shall render such services or
act in such capacity for the Company and its affiliates, as Huron’s Chief Executive Officer (the “CEO”) shall from time to time direct. Executive shall perform the duties and carry out the responsibilities assigned to
Executive, to the best of Executive’s ability, in a trustworthy and businesslike manner for the purpose of advancing the business of the Company. Executive acknowledges that Executive’s duties and responsibilities hereunder will require
Executive’s full business time and effort and agrees that, during the Employment Period, Executive will not engage in any other business activity or have any business pursuits or interests which materially interfere or conflict with the
performance of Executive’s duties hereunder; provided that Executive may, with the approval of the CEO or his designee, serve on the board of other corporations or charitable organizations and engage in charitable activities, community affairs,
and teaching. Executive shall engage in travel as reasonably required in the performance of Executive’s duties. 
 1.2 Employment Period. The employment of Executive under this Agreement shall begin on
January 1st, 2008 (the “Effective Date”) and shall continue through the first anniversary of the Effective Date (the
“Initial Period”). Commencing on the first anniversary of the Effective Date and on each anniversary thereafter, the employment of Executive under this Agreement shall automatically renew and extend for an additional year, unless one of
the parties shall deliver to the other sixty (60) days’ advance written notice of the cessation of such automatic renewal. “Employment Period” shall mean the Initial Period and any automatic 








 
extensions of the Executive’s employment under this Agreement. Notwithstanding anything to the contrary contained herein, the Employment Period is
subject to termination prior to the date of expiration thereof pursuant to Sections 1.3, 1.4 and 1.5. 
 1.3
Termination Upon Death. If Executive dies during the Employment Period, Executive’s employment shall automatically terminate on the date of Executive’s death. 
 1.4 Termination by the Company. 
 (a) The Company may terminate Executive’s employment hereunder upon written notice to Executive as described in Section 10.5. Such termination shall be effective upon the date notice of such termination is
given pursuant to Section 10.5, unless such notice shall otherwise provide. 
 (b) For purpose of this Agreement,
“Cause” means the occurrence of any of the following events, as determined in the reasonable good faith judgment of the CEO: 
 (i) the failure of Executive to perform Executive’s material duties which failure continues for ten (10) days after the Company has given written notice to Executive specifying in reasonable detail the
manner in which Executive has failed to perform such duties and affording opportunity to cure; 
 (ii) commission by Executive
of an act or omission (A) constituting (x) a felony, (y) dishonesty with respect to the Company or (z) fraud, or (B) that (x) could-adversely and materially affect the Company’s business or reputation, or
(y) involves moral turpitude; 
 (iii) the breach, non-performance or non-observance of any of the material terms of this
Agreement (other than a breach, non-performance or non-observance described in clause (i) of this Section 1.4(b)), or any other agreement to which Executive and the Company are parties, by Executive, if such breach, non-performance
or non-observance shall continue beyond a period of ten (10) days immediately after written notice thereof given by the Company to Executive; or 
 (iv) any breach, non-performance or non-observance of any of Sections 6.3, 6.4, or 6.5 of this Agreement. 
 (c) Executive shall be deemed to have a “Permanent Disability” for purposes of this Agreement if Executive is eligible to
receive benefits under the Company’s long-term disability plan then covering Executive. 
 1.5 Termination by Executive. Except
as otherwise provided herein, Executive shall give sixty (60) days’ notice to the Company prior to the effectiveness of any resignation of Executive’s employment with the Company. If the Company gives notice to Executive that, during
the Employment Period, Executive’s primary location of employment with the Company will change to a location that is more than seventy-five (75) miles from Executive’s primary location of employment with the Company in Chicago,
Illinois (and, after September 1, 2009, New York, New York), if the Company does not rescind (or otherwise cure) such requirement 








 
within the sixty (60) day period following such notice, and if Executive resigns her employment within thirty (30) days after the end of such sixty
(60) day cure period, then Executive’s resignation shall be deemed for “Good Reason.” The Company and Executive agree that a relocation of more than seventy-five (75) miles from Executive’s primary location of
employment in Chicago, Illinois (and, after September 1, 2009, New York, New York) would be a material adverse change in Executive’s employment with the Company. 
 2. Compensation and Benefits. 
 2.1
Base Salary. As consideration for the services of Executive hereunder, the Company shall pay Executive an annual base salary (the “Base Salary”), payable in accordance with the Company’s customary payroll practices as in
effect from time to time. The CEO shall perform an annual review of Executive’s compensation based on Executive’s performance of Executive’s duties and the Company’s other compensation policies, provided that Executive’s
Base Salary shall not be reduced without Executive’s consent unless such reduction is part of a comparable overall reduction for members of senior management. The term Base Salary shall include any changes to the Base Salary from time to time.

 2.2 Bonus Programs. Executive shall be eligible for an annual bonus in an amount determined by the Compensation Committee of
Huron’s Board of Directors (the “Compensation Committee”) based on Executive’s performance of Executive’s duties and the Company’s other compensation policies (the “Annual Bonus”). The actual Annual
Bonus paid will be based on Company and Executive performance. Executive’s right to any bonus payable pursuant to this Section 2.2 shall be contingent upon Executive being employed by the Company on the date the Annual Bonus is
generally paid to executives of the Company. 
 3. Equity Awards. Executive shall generally be eligible to participate in Huron’s
equity plans from time to time, with the amount of any equity awards, and the terms and conditions under which they are granted, being in the sole discretion of the Compensation Committee based on Executive’s performance of Executive’s
duties and the Company’s other compensation policies. Such equity awards shall be subject to the terms of the applicable equity incentive plan of the Company and granting agreement. 
 4. Benefits and Expenses. 
 4.1
Benefits. During the Employment Period, Executive shall be eligible to participate in the various health and welfare benefit plans maintained by the Company for its key management employees from time to time. 
 4.2 Business Expenses. During the Employment Period, the Company shall reimburse Executive for all ordinary, necessary and reasonable travel and
other business expenses incurred by Executive in connection with the performance of Executive’s duties hereunder, in accordance with the Company policy. Such reimbursement shall be made upon presentation of itemized expense statements and such
other supporting documentation as the Company may reasonably require. To the extent that any such reimbursements are taxable to Executive (“Taxable Reimbursements”), such reimbursements shall be paid to Executive only if
(a) the expenses are incurred and reimbursable pursuant to a reimbursement plan that provides an objectively determinable nondiscretionary definition of the expenses that are eligible for reimbursement and (b) the expenses are incurred
during the 








 
Employment Period. With respect to any Taxable Reimbursements, the amount of the expenses that are eligible for reimbursement during one calendar year may
not affect the amount of reimbursements to be provided in any subsequent calendar year, the reimbursement of an eligible expense shall be made on or before the last day of the calendar year following the calendar year in which the expense was
incurred, and the right to reimbursement of the expenses shall not be subject to liquidation or exchange for any other benefit. 
 5.
Compensation After Termination. 
 5.1 Termination For Cause; Resignation Without Good Reason. If, Executive’s employment
is terminated by the Company for Cause or if Executive resigns her employment other than for Good Reason during the Employment Period then, except as required by law, the Company shall have no further obligations to Executive (except payment of the
Base Salary accrued through the date of said termination), and the Company shall continue to have all other rights available hereunder (including, without limitation, all rights under the Restrictive Covenants at law or in equity). 
 5.2 Termination Without Cause; Resignation For Good Reason. 
 (a) If, Executive’s employment is terminated by the Company without Cause or Executive resigns for Good Reason, then, subject to the
terms and conditions of this Agreement, Executive shall be entitled to receive the following amounts and benefits: 
 (i)
Severance pay (“Severance Pay”) in an amount equal six (6) months Base Salary, which Severance Pay shall be payable to Executive in a lump sum within sixty (60) days following Executive’s termination of employment;
and 
 (ii) Continuation of medical benefits for six (6) months upon the same terms as exist from time to time for active
similarly situated executives of the Company, which benefits shall be considered part of, and not in addition to, any coverage required under COBRA. 
 (b) The Company shall have no other obligations under this Section 5.2 or otherwise with respect to Executive’s employment from and after the employment termination date, and the Company shall
continue to have all other rights available hereunder (including, without limitation, all rights under the Restrictive Covenants at law or in equity). 
 5.3 Termination Due To Death, Permanent Disability. If Executive’s employment is terminated due to Executive’s Permanent Disability or if Executive dies during the Employment Period, then subject to
the terms and conditions of this Agreement, (a) Executive or Executive’s estate, as the case may be, shall be entitled to receive (i) payment of Base Salary through the date of termination, (ii) pay in an amount equal to the Base
Salary for three (3) months, and (b) Executive and/or Executive’s eligible dependents shall receive continuation of medical benefits upon the same terms as exist immediately prior to the termination of employment for similarly
situated active executives of the Company for the three (3)-month period immediately following the termination of employment (which benefits shall be considered part of, and not in addition to, any coverage required under COBRA). 








 
The Company shall have no other obligations under this Section 5.3 or otherwise with respect to Executive’s employment from and after the
termination date, and the Company shall continue to have all other rights available hereunder (including, without limitation, all rights under the Restrictive Covenants at law or in equity). 
 5.4 This Section Intentionally Left Blank 
 5.5 Change of Control. 
 (a) The provisions of Section 5.2 and 5.3, hereof to the contrary
notwithstanding but subject to the other terms and conditions of this Agreement, if (i) Executive is terminated by the Company without Cause or Executive resigns her employment for CoC Good Reason (defined below) in either case during the
period commencing on a Change of Control (defined below) and ending on the second anniversary of the Change of Control (such two-year period being the “Protection Period” hereunder), or (ii) Executive reasonably demonstrates that the
Company’s termination of Executive’s employment (or event which, had it occurred following a Change of Control would have constituted CofC Good Reason) prior to a Change of Control was at the request of a third party who was taking steps
reasonably calculated to effect a Change of Control (or otherwise in contemplation of a Change of Control) and such Change of Control actually occurs ( a “Qualifying Termination”), then, subject to the terms and conditions of this
Agreement, Executive shall be entitled to receive the following payments and benefits: 
 (i) an amount in cash equal to the
then-prevailing target amount of Executive’s Annual Bonus (“Target Bonus”) during the year of termination multiplied by a fraction, the numerator of which is the number of completed days (including the date of termination)
during the year of termination and the denominator of which is 365; 
 (ii) an amount in cash equal to the sum of
Executive’s annual Base Salary and annual Target Bonus, and 
 (iii) continuation of medical benefits until the first
anniversary of the date of such termination upon the same terms as exist for Executive immediately prior to the termination date (which benefits shall be considered part of, and not in addition to, any coverage required under COBRA). 
 Following any termination of Executive’s employment pursuant to this Section 5.5, the Company shall continue to have all other rights
available hereunder (including, without limitation, all rights under the Restrictive Covenants and any restrictive covenants set forth in any plan, award and agreement applicable to Executive, at law or in equity). Subject to the Executive’s
execution of the Release described in Section 5.6, the payments described in clauses (i) and (ii) (“Change of Control Severance Pay”) shall be paid in a lump sum within sixty (60) days following Executive’s
termination of employment (or, in the case of a Qualifying Termination that occurs prior to the Change of Control, within sixty (60) days following the Change of Control). If the Qualifying Termination occurs prior to a Change of Control, the
Executive shall be paid a lump sum cash 








 
payment equal to the difference between (I) the applicable premium paid by Executive for continuation of medical benefits under COBRA from the date of
the Qualifying Termination through the date of the Change of Control (the “Pre-CIC Coverage Period”) and (II) the amount of the applicable premium that would have been paid by Executive for continuation of medical benefits during
the Pre-CIC Coverage Period had the provisions of Section 5.5(a)(iii) been given effect from the date of the Qualifying Termination, which payment shall be made in a lump sum within sixty (60) days following the Change of Control. If (and
to the extent) that the benefits provided pursuant to Section 5.5(a)(iii) are taxable to the Executive and are subject to Section 409A of the Code, the amount of the expenses that are eligible for reimbursement during one calendar
year may not affect the amount of reimbursements to be provided in any subsequent calendar year, the reimbursement of an eligible expense shall be made on or before the last day of the calendar year following the calendar year in which the expense
was incurred, and the right to reimbursement of the expenses shall not be subject to liquidation or exchange for any other benefit. 
 (b) Payments and benefits under Section 5.5(a) shall not be subject to mitigation or offset, except that medical benefits may be offset by comparable benefits obtained by Executive in connection with subsequent employment.
Nothing in this Section 5.5 is intended to result in duplication of benefits provided by other provisions of this Agreement. 
 (c) Anything set forth in any equity plan, equity award or any other provision of this Agreement between the Company and Executive to the contrary notwithstanding, all of Executive’s outstanding equity grants
that were awarded at or prior to the time of the Change of Control shall fully vest upon the occurrence of a Qualifying Termination. 
 (d) The Change of Control Severance Pay shall be in lieu of the Severance Pay otherwise for a termination under Section 5.2 of this Agreement and any other plan or agreement of the Company, whether adopted before or after the
date hereof, which provides severance payments or benefits. For the avoidance of doubt, Executive shall not be entitled to payments and benefits under both this Section 5.5 and any other provision of this Section 5 as the
result of her termination of employment. 
 (e) If it is determined that any amount, right or benefit paid or payable (or
otherwise provided or to be provided) to Executive by the Company or any of its affiliates under this Agreement or any other plan, program or arrangement under which Executive participates or is a party (collectively, the
“Payments”), would constitute an “excess parachute payment” within the meaning of Section 280G of the Code, subject to the excise tax imposed by Section 4999 of the Code, as amended from time to time (the
“Excise Tax”), then the amount of the Payments payable to Executive under this Agreement shall be reduced (a “Reduction”) to the extent necessary so that no portion of such Payments payable to Executive is subject
to the Excise Tax. 
 All determinations required to be made under this Section 5.5(e) and the assumptions to be
utilized in arriving at such determination, shall be made by an independent, nationally recognized accounting firm mutually acceptable to the Company and Executive (the “Auditor”); provided that in the event a Reduction is required,
Executive may determine which Payments shall 








 
be reduced in order to comply with the provisions of Section 5.5(e); provided, however, that Executive may not determine such order with respect to any
payments that are subject to section 409A of the Code. The Auditor shall promptly provide detailed supporting calculations to both the Company and Executive following any determination that a Reduction is necessary. All fees and expenses of the
Auditor shall be paid by the Company. All determinations made by the Auditor shall be binding upon the Company and Executive. 
 (f) For purposes of this Agreement, the term “Change of Control” shall be deemed to have occurred upon the first to occur of the following events: 
 (i) any Person becomes the Beneficial Owner, directly or indirectly, of common stock or voting securities of the Company (not including in
the amounts beneficially owned by such Person any common stock or voting securities acquired directly from the Company or its Affiliates representing 40% or more of the combined voting power of the Company’s then outstanding securities; or

 (ii) there is consummated a merger or consolidation of the Company or any direct or indirect subsidiary of the Company with
any Person, other than (A) a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior to such merger or consolidation continuing to represent (either by remaining outstanding or by being
converted into voting securities of the surviving entity or any parent thereof) at least 50% of the combined voting power of the securities of the Company or such surviving entity or any parent thereof outstanding immediately after such merger or
consolidation, (B) a merger or consolidation effected to implement a recapitalization of the Company (or similar transaction) in which no Person other than existing security holders is or becomes the Beneficial Owner, directly or indirectly, of
securities of the Company (not including in the amount Beneficially Owned by such Person any common stock or voting securities acquired directly from the Company or its Affiliates) representing 50% or more of the combined voting power of the
Company’s then outstanding securities, or (C) a merger or consolidation of a subsidiary of the Company that does not represent a sale of all or substantially all of the assets of the Company; or 
 (iii) the shareholders of the Company approve a plan of complete liquidation or dissolution of the Company (except for a plan of
liquidation or dissolution effected to implement a recapitalization of the Company addressed in (ii) above); or 
 (iv)
there is consummated an agreement for the sale or disposition of all or substantially all of the assets of the Company to a Person, other than a sale or disposition by the Company of all or substantially all of the assets of the Company to an
entity, at least 50% of the combined voting power of the voting securities of which are owned by shareholders of the Company. 
 (v) Notwithstanding the foregoing, a “Change of Control” shall not be deemed to have occurred by virtue of the consummation of any transaction or series of integrated transactions immediately following which the record holders of
the 








 
common stock of the Company immediately prior to such transaction or series of transactions continue to have substantially the same proportionate ownership
in an entity which owns all or substantially all of the assets of the Company immediately following such transaction or series of transactions. 
 For purposes of this Change of Control definition, (I) “Beneficial Owner” shall have the meaning set forth in Rule 13d-3 under the Exchange Act, (II) “Exchange Act” shall mean the Securities
Exchange Act of 1934, as amended from time to time, (III) “Person” shall have the meaning given in Section 3(a)(9) of the Exchange Act, as modified and used in Sections 13(d) and 14(d) thereof, except that such term
shall not include (w) the Company or any of the Company’s direct or indirect subsidiaries, (x) a trustee or other fiduciary holding securities under an employee benefit plan of the Company or the Company or any of their Affiliates,
(y) an underwriter temporarily holding securities pursuant to an offering of such securities, or (z) a corporation owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as their ownership
of stock of the Company and (IV) “Affiliate” shall have the meaning set forth in Rule 12b-2 promulgated under Section 12 of the Exchange Act. 
 (g) For purposes of this Section 5.5 (and distinguished from “Good Reason” provided under certain other
circumstances under the Agreement), the term “CoC Good Reason” means the occurrence of any of the following within the twenty-four (24) month period following a Change of Control without the express written consent of
Executive: 
 (i) any material breach by the Company of the Agreement; 
 (ii) any material adverse change in the status, responsibilities or position of Executive; 
 (iii) any material reduction in Base Salary, other than in connection with an across-the-board reduction in Base Salaries applicable in
like proportions to all similarly situated executives of the Company and any direct or indirect parent of the Company; 
 (iv)
assignment of duties to Executive that are materially inconsistent with Executive’s position and responsibilities described in this Agreement; 
 (v) requiring Executive to be principally based at any office or location more than seventy five (75) miles from the current offices of the Company in Chicago, Illinois (or after September 1, 2009 from New
York, New York); and 
 The foregoing to the contrary notwithstanding, if the Company or the Parent is acquired as a
subsidiary or division of a reporting company pursuant to Section 13 and Section 15(d) of the Securities Exchange Act of 1934, the fact that Executive is not named as General Counsel and Corporate Secretary of the reporting company
following the Change of Control shall not constitute CoC Good Reason. 
 Notwithstanding the foregoing provisions of this
paragraph (g), Executive’s termination of employment shall be considered to be on account of CoC Good Reason only if (A) an event or condition occurs which satisfies the foregoing provisions of this 








 
Section 5.5(g), (B) Executive provides the Company with written notice pursuant to Section 10.5 that he intends to resign for
CoC Good Reason and such written notice includes (I) a designation of at least one of the 5.4(f)(i) through (iv) (the “Designated Section”) and (II) specifically describes the events or conditions Executive is relying upon
to satisfy the requirements of the Designated Section(s), (C) as of the thirtieth (30th) day following the Company’s receipt of such
notice from Executive, such events or conditions have not be corrected in all material respects, and (D) Executive resigns her employment within sixty (60) days after the date on which Executive first has actual knowledge of the occurrence
of the first event or condition upon which Executive relies upon to satisfy any of the Designated Section(s). 
 5.6 General Release.
Executive acknowledges and agrees that Executive’s right to receive severance pay and other benefits (including post-termination equity vesting) pursuant to Section 5.2 and 5.5 of this Agreement (collectively, the
“Severance Benefits”) is contingent upon Executive’s compliance with the covenants, representations, warranties and agreements set forth in Section 6 of this Agreement and, except for those payments and benefits
required to be made or provided by law or pursuant to the express terms of a benefit plan (and other than those benefits to be provided upon death), such Severance Benefits shall be conditioned upon Executive’s execution and acceptance of the
terms and conditions of, and the effectiveness of, a general release in the standard form used by the Company at the time of Executive’s termination of employment. (the “Release”). If Executive fails to comply with the
covenants set forth in Section 6 or if Executive fails to execute the Release or revokes the Release during the seven (7)-day period following her execution of the Release, then Executive shall not be entitled to any Severance Benefits.
The Company shall provide Executive with the Release within five (5) days following her termination of employment (or, in the case of any benefits relating to a Qualifying Termination occurring prior to a Change of Control, within five
(5) days following the Change of Control). If any of the Severance Benefits are subject to Section 409A of the Code, Executive shall be entitled to any such Severance Benefits only if the Release has been executed, is effective and the
applicable revocation period has expired no later than the date as of which such Severance Benefits are to be paid (or provided) pursuant to this Agreement and if such requirements are not satisfied, Executive shall not be entitled to any such
Severance Benefits. 
 6. Restrictive Covenants and Agreements. 
 6.1 Executive’s Acknowledgment. Executive agrees and acknowledges that in order to assure the Company that it will retain its value and that
of the Business as a going concern, it is necessary that Executive not utilize special knowledge of the Business and its relationships with customers to compete with the Company. Executive further acknowledges that: 
 (a) the Company is and will be engaged in the Business during the Employment Period and thereafter; 
 (b) Executive will occupy a position of trust and confidence with the Company, and during the Employment Period, Executive will become
familiar with the Company’s trade secrets and with other proprietary and Confidential Information concerning the Company and the Business; 







 (c) the agreements and covenants contained in Sections 6, 7, 8 and 9
are essential to protect the Company and the confidentiality of its Confidential Information (defined below) and near permanent client relationships as well as goodwill of the Business and compliance with such agreements and covenants will not
impair Executive’s ability to procure subsequent and comparable employment; and 
 (d) Executive’s employment with
the Company has special, unique and extraordinary value to the Company and the Company would be irreparably damaged if Executive were to provide services to any person or entity in violation of the provisions of this Agreement. 
 6.2 Confidential Information. As used in this Section 6, “Confidential Information” shall mean the Company’s
trade secrets and other non-public information relating to the Company or the Business, including, without limitation, information relating to financial statements, customer identities, potential customers, employees, suppliers, acquisition targets,
servicing methods, equipment, programs, strategies and information, analyses, marketing plans and strategies, profit margins and other information developed or used by the Company in connection with the Business that is not known generally to the
public or the industry and that gives the Company an advantage in the marketplace. Confidential Information shall not include any information that is in the public domain or becomes known in the public domain through no wrongful act on the part of
Executive. Executive agrees to deliver to the Company at the termination of Executive’s employment, or at any other time the Company may request, all memoranda, notes, plans, records, reports and other documents (and copies
thereof) relating to the Business or the Company or other forms of Confidential Information which Executive may then possess or have under Executive’s control. 
 6.3 Non-Disclosure. Executive agrees that during employment with the Company and thereafter, Executive shall not reveal to any competitor or other person or entity (other than current employees of the
Company) any Confidential Information regarding Clients (as defined herein) that Executive obtains while performing services for the Company. Executive further agrees that Executive will not use or disclose any Confidential Information of
the Company, other than in connection with Executive’s work for the Company, until such information becomes generally known in the industry through no fault of Executive. 
 6.4 Non-Solicitation of Clients. Executive acknowledges that Executive will learn and develop Confidential Information relating to the
Company’s Clients and relating to the Company’s servicing of those Clients. Executive recognizes that the Company’s relationships with its Clients are extremely valuable to it and that the protection of the Company’s
relationships with its Clients is essential. 
 Accordingly, and in consideration of the Company’s employment of Executive and the
various benefits and payments provided in conjunction therewith, Executive agrees that during the Employment Period and for the longer period (“Restricted Period”) thereafter of (i) the period for which Executive is entitled to
receive severance payments under Section 5.2(a)(i) or (ii) twelve (12) months following any termination of employment with the Company, Executive will not, whether or not Executive is then self-employed or employed by another,
directly or through another, provide services that are the same or similar to those services offered for sale and/or under any stage of development by the Company at the time of Executive’s termination, to any Client of the Company whom
Executive: 
 (a) obtained as a Client for the Company; or 







 (b) consulted with, provided services for, or supervised the provision of services for
during the twelve (12) month period immediately preceding termination of Executive’s employment; or 
 (c) submitted
or assisted in the submission of a proposal for the provision of services during the six (6) month period immediately preceding termination of Executive’s employment. 
 “Client” shall mean those persons or firms for whom the Company has either directly or indirectly provided services within the
twenty-four (24)-month period immediately preceding termination of Executive’s employment and therefore includes both the referral source or entity that consults with the Company and the entity to which the consultation related.
“Client” also includes those persons or firms to whom Executive has submitted a proposal (or assisted in the submission of a proposal) to perform services during the six (6) month period immediately preceding termination
of Executive’s employment. 
 6.5 Non-Interference with Relationships. Executive shall not at any time during the Restricted
Period directly or indirectly solicit, induce or encourage (a) any executive or employee or other personnel (including contractors) of the Company, or (b) any customer, Client, supplier, lender, professional advisor or other business
relation of the Company to leave, alter or cease his/her/its relationship with the Company, for any reason whatsoever. Executive shall not hire or assist in the hiring of any executive or employee or other personnel (including contractors) of the
Company for that same time period, whether or not Executive is then self-employed or employed by another business. Executive shall not at any time directly or indirectly make disparaging remarks about the Company. 
 6.6 Modification. If any court of competent jurisdiction shall at any time deem that the term of any Restrictive Covenant is too lengthy, or the
scope or subject matter of any Restrictive Covenant exceeds the limitations imposed by applicable law, the parties agree that provisions of Sections 6.3, 6.4 and 6.5 shall be amended to the minimum extent necessary
such that the provision is enforceable or permissible by such applicable law and be enforced as amended. 
 6.7 Representations and
Warranties. Executive has made full disclosure to the Company concerning the existence of, and delivered copies of any documents relating to, any contractual arrangement (including, but not limited to, any non-compete or non-solicitation
agreement) that Executive has with any current or former employer which agreement purports to be in effect as of the date of this offer or the dates of Executive’s intended employment with the Company. Executive represents, warrants and
covenants to the Company that (a) Executive is not a party to or bound by any employment agreement, noncompete, nonsolicitation (of customers or employees), nondisturbance (of customers, employees or vendors), or confidentiality agreement with
any previous employer or any other person or entity that would be violated by Executive’s acceptance of this position or which would interfere in any material 








 
respect with the performance of Executive’s duties with the Company, (b) that Executive will not use any confidential information or trade secrets
of any person or party other than the Company in connection with the performance of Executive’s duties with the Company, (c) that Executive will not at any time breach (or threaten to breach) any such agreement with any such previous
employer or any other person or entity during Executive’s employment with the Company and (d) Executive shall not at any time enter into any modification of any forgoing such agreement or any new agreement with, waive any rights of
Executive under any agreement with, or acknowledge any amounts due from Executive to, Executive’s previous employer without first obtaining the prior written consent of the Company in its sole discretion. Executive shall hereafter immediately
disclose to the Company any knowledge of Executive of a possible or potential violation of any forgoing such agreement occurring at any time. 
 7. Ownership of Intellectual Property. All intellectual property, ideas, inventions, writings, software and Confidential Information created or conceived by Executive alone or with others while employed with the Company that relate
to the Company’s business or clients or work assigned to Executive by the Company (collectively, “Materials”) constitute “work made for hire” and are the exclusive property of the Company. If for any reason any Materials
cannot legally constitute a “work made for hire,” then this Agreement shall operate as an irrevocable assignment and agreement to assign to the Company all right, title and interest in such Materials. Executive will promptly disclose to
the Company in writing all Materials developed during her employment with the Company, and Executive will execute such documents as may be necessary to evidence her assignment(s) of all right, title and interest in Materials to the Company. If
Executive claims ownership in any intellectual property, ideas or inventions that predate her employment with the Company, then Executive will disclose such claims in writing to the Company’s Human Resources Department before commencing any
work for the Company. 
 8. Effect on Termination. If, for any reason, this Agreement shall terminate or Executive’s employment
with the Company shall terminate, then, notwithstanding such termination, those provisions contained in Sections 6, 7, 8 9 and 10 hereof shall survive and thereafter remain in full force and effect. 
 9. Remedies. 
 9.1 Non-Exclusive
Remedy for Restrictive Covenants. Executive acknowledges and agrees that the covenants set forth in Sections 6.3, 6.4, and 6.5 of this Agreement (collectively, the “Restrictive Covenants”) are reasonable
and necessary for the protection of the Company’s business interests, that irreparable injury will result to the Company if Executive breaches any of the terms of the Restrictive Covenants, and that in the event of Executive’s actual or
threatened breach of any such Restrictive Covenants, the Company will have no adequate remedy at law. Executive accordingly agrees that in the event of any actual or threatened breach by Executive of any of the Restrictive Covenants, the Company
shall be entitled to immediate temporary injunctive and other equitable relief, without the necessity of showing actual monetary damages or the posting of bond. Nothing contained herein shall be construed as prohibiting the Company from pursuing any
other remedies available to it for such breach or threatened breach, including the recovery of damages. 
 9.2 Arbitration. Except as
set forth in Section 9.1, any controversy or claim arising out of or related to (i) this Agreement, (ii) the breach thereof, (iii) Executive’s employment with the Company or the termination of such employment, or
(iv) Employment 








 
Discrimination, shall be settled by arbitration in Chicago, Illinois before a single arbitrator administered by the American Arbitration Association
(“AAA”) under its National Rules for the Resolution of Employment Disputes, amended and restated effective as of January 1, 2004 (the “Employment Rules”), and judgment on the award rendered by the
arbitrator may be entered in any court having jurisdiction thereof. Notwithstanding the foregoing, Rule R-34 of the AAA’s Commercial Arbitration Rules amended and restated effective as of July 1, 2003 (instead of Rule 27 of the
Employment Rules) shall apply to interim measures. References herein to any arbitration rule(s) shall be construed as referring to such rule(s) as amended or renumbered from time to time and to any successor rules. References to the
AAA include any successor organization. “Employment Discrimination” means any discrimination against or harassment of Executive in connection with Executive’s employment with the Company or the termination of such employment,
including any discrimination or harassment prohibited under federal, state or local statute or other applicable law, including the Age Discrimination in Employment Act, Title VII of the Civil Rights Act of 1964, the Employee Retirement Income
Security Act of 1974, the Americans with Disability Act, the Family and Medical Leave Act, the Fair Labor Standards Act, or any similar federal, state or local statute. 
 10. Miscellaneous. 
 10.1 Assignment. Executive may not assign any of Executive’s rights
or obligations hereunder without the written consent of the Company. Except as otherwise expressly provided herein, all covenants and agreements contained in this Agreement by or on behalf of any of the parties hereto shall bind and inure to the
benefit of the respective successors and assigns of the parties hereto whether so expressed or not. In connection with a Change of Control, the Company shall cause a successor to the Company to explicitly assume and agree to be bound by this
Agreement and any such successor shall explicitly assume and agree to be bound by this Agreement. 
 10.2 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 prohibited by or invalid under applicable law, such provision
shall be ineffective only to the extent of such prohibition or invalidity and without invalidating the remainder of this Agreement. 
 10.3
Counterparts. This Agreement may be executed in multiple counterparts, each of which shall be deemed an original, but all of which taken together shall constitute one and the same Agreement. 
 10.4 Descriptive Headings; Interpretation. The descriptive headings in this Agreement are inserted for convenience of reference only and are not
intended to be part of or to affect the meaning or interpretation of this Agreement. The use of the word “including” in this Agreement shall be by way of example rather than by limitation. 
 10.5 Notices. All notices, demands or other communications to be given under or by reason of the provisions of this Agreement shall be in writing
and shall be deemed to have been duly given if (a) delivered personally to the recipient, (b) sent to the recipient by reputable express courier service (charges prepaid) or mailed to the recipient by certified or registered mail,
return receipt requested and postage prepaid, or (c) transmitted by telecopy to the recipient with a confirmation copy to follow the next day to be 








 
delivered by overnight carrier. Such notices, demands and other communications shall be sent to the addresses indicated below: 
  

					
	To the Company:	 	 Huron Consulting Group Inc.
 550 West Van
Buren Street
 Chicago, IL 60607

		 	Attention:	 	Mary Sawall
		 	Facsimile:	 	(312) 583-8701
		
	To Executive:	 	 Natalia Delgado
 70 East Cedar
St.
 Chicago, IL. 60611

		 
		 

 or to such other address or to the attention of such other person as the recipient party shall have specified by
prior written notice to the sending party. The date in which such notice shall be deemed given shall be (w) the date of receipt if personally delivered, (x) three (3) business days after the date of mailing if sent by certified or
registered mail, (y) one business day after the date of delivery to the overnight courier if sent by overnight courier or (z) the next business day after the date of transmittal by telecopy. 
 10.6 Preamble; Preliminary Recitals. The Preliminary Recitals set forth in the Preamble hereto are hereby incorporated and made part of this
Agreement. 
 10.7 Taxes. All compensation payable to Executive from the Company shall be subject to all applicable withholding taxes,
normal payroll withholding and any other amounts required by law to be withheld. 
 10.8 Entire Agreement. Except as otherwise
expressly set forth herein, this Agreement sets forth the entire understanding of the parties, and supersedes and preempts all prior oral or written understandings and agreements with respect to the subject matter hereof. 
 10.9 Governing Law. This Agreement shall be construed and enforced in accordance with, and all questions concerning the construction, validity,
interpretation and performance of this Agreement shall be governed by, the laws of the State of Illinois without giving effect to provisions thereof regarding conflict of laws. 
 10.10 No Strict Construction. The language used in this Agreement will be deemed to be the language chosen by the parties hereto to express their
mutual intent, and no rule of strict construction will be applied against any party hereto. 
 10.11 Amendment and Waivers. Any
provisions of the Agreement may be amended or waived only with the prior written consent of the Company and Executive. 
 10.12 Additional
Section 409A Provisions. Notwithstanding any provision contained in this Agreement to the contrary, if (a) any payment hereunder is subject to Section 409A of the Code, (b) such payment is to be paid on account of
Employee’s separation from service (within the meaning of Section 409A of the Code) and (c) Employee is a “specified employee” (within the 








 
meaning of Section 409A(a)(2)(B) of the Code), then such payment shall be delayed until the first day of the seventh month following Employee’s
separation from service (or, if later, the date on which such payment is otherwise to be paid under this Agreement). With respect to any payments hereunder that are subject to Section 409A of the Code and that are payable on account of a
separation from service, the determination of whether Executive has had a separation from service shall be determined in accordance with Section 409A of the Code. 







 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the dates written below.

  

			
	 COMPANY:
  
 HURON CONSULTING GROUP INC.

		
	By:	 	 /s/ Mary Sawall

	Its:	 	 VP of HR

	Date:	 	 12/31/08

	
	NATALIA DELGADO
	
	 /s/ Natalia Delgado

	 Natalia Delgado

	(print name)
	 December 30, 2008

	Date