Document:

EX-10.2

 EXHIBIT 10.2 
 FIRST AMENDMENT 
 TO 

AMENDED AND RESTATED 
 EMPLOYMENT AGREEMENT 
 This FIRST AMENDMENT TO EMPLOYMENT
AGREEMENT (“Amendment”), made effective as of March 1, 2012 (the “Effective Date”), by and between Navigant Consulting, Inc., a Delaware corporation (the “Company”), and William M. Goodyear (the
“Executive”). The Company and the Executive are referred to jointly below as the “Parties.” 

WHEREAS, the Company and the Executive previously entered into that certain Amended and Restated Employment Agreement, effective
as of January 1, 2009 (the “Employment Agreement”); 
 WHEREAS, the Parties have agreed that the Executive
will transition his position to that of the Company’s Executive Chairman of the Board of Directors; 
 WHEREAS, the
Parties now consider it desirable to amend the Employment Agreement to reflect the change in the Executive’s position and certain other changes to the Employment Agreement agreed by the Parties; 

NOW THEREFORE, in accordance with Paragraph 14(a) of the Employment Agreement and in consideration of the mutual promises herein
made, the sufficiency of which are expressly acknowledged, the Parties agree to amend the Employment Agreement, effective as of the Effective Date, as follows: 
 1. By substituting the following for Paragraph B of the Recitals to the Agreement: 
  

	 	“B.	The Company desires to continue to employ the Executive as its Executive Chairman of the Board of Directors, and the Executive desires to accept such employment, on the
terms and conditions set forth herein.” 

 2. By substituting the following for Paragraphs 2 and 3 of the
Agreement: 
  

	 	“2.	Employment Term. The term of the Executive’s employment by the Company under this Agreement will begin as of March 1, 2012 (the ‘Amendment
Effective Date’) and will continue until April 30, 2014 (the ‘Employment Term’). 

  

	 	3.	Position and Responsibilities. During the period of his employment hereunder, the Executive agrees to serve the Company, and the Company shall employ the
Executive, as its Executive Chairman. As a senior Company executive, the Executive shall be responsible to carry out the duties and responsibilities directed by the Company’s Chief Executive Officer and Board of Directors (the
‘Board’), and as Chairman, the Executive shall be responsible for Board activities. The Executive will be available full-time, subject to Paragraph 4(c) below.” 

 3. By striking Paragraph 4(b) of the Agreement in its entirety and inserting in its place
the phrase “Intentionally Omitted”. 
 4. By substituting the figure “$650,000” for the figure
“$850,000” in the first sentence of Paragraph 5(a) of the Agreement. 
 5. By adding the following sentence to
Paragraph 5(b) of the Agreement as the third sentence thereof: 
 “The Executive’s target bonus shall be set at one
hundred percent (100%) of the Executive’s Base Salary during the Employment Term.” 
 6. By substituting the
following for Paragraphs 7(c) and (d) of the Agreement: 
  

	 	“(c)	Intentionally Omitted 

  

	 	(d)	Any termination shall be communicated by Notice of Termination. For purposes of this Agreement, a “Notice of Termination” means a written notice which
(1) indicates the specific termination provision in this Agreement relied upon, (2) to the extent applicable, sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive’s
employment under the provision so indicated and (3) specifies the termination date (which date shall be not more than 30 days after the giving of such notice).” 

7. By substituting the following for Paragraph 8(a) of the Agreement: 

 

	 	“(a)	In consideration for the Executive’s waiver of certain rights he had under this Agreement prior to the Amendment Effective Date, the Company has agreed that,
except as set forth in Paragraphs 8(b) and (c) below, upon the Executive’s Separation from Service within the meaning of Section 409A of the Code (a ‘Separation from Service’), the Company will pay the Executive an amount
equal to two times the sum of (1) the Executive’s Base Salary in effect immediately prior to the Amendment Effective Date plus (2) the average of his annual bonuses for the three most recent years prior to the Amendment Effective
Date, within ten days after the Executive’s Separation from Service. This payment would be in lieu of and not in addition to any other payment under this Paragraph 8.” 

8. By substituting the following for clauses (1) and (2) of Paragraph 8(b) of the Agreement: 

“(1) the Executive’s Base Salary in effect immediately prior to the Amendment Effective Date plus (2) the average of his
annual bonuses for the three most recent years prior to the Amendment Effective Date.” 

  
 2 

 9. By substituting the following for Paragraph 8(c) of the Agreement: 

 

	 	“(c)	If, during the Employment Term, the Executive incurs a Separation from Service by reason of the Company’s termination of the Executive’s employment for Cause
or the Executive’s resignation, then the Company shall have no further obligation to the Executive other than the obligation to pay to the Executive (A) his Base Salary through the date of Separation from Service and (B) any other
compensation and benefits due to the Executive in accordance with this Agreement, in each case to the extent theretofore unpaid.” 

 10. By striking Paragraph 9 of the Agreement, “Change of Control Benefits” in its entirety and inserting in its place the phrase “Intentionally Omitted”. 

11. By substituting the following for Paragraph 10 of the Agreement: 

“10. No Gross Up; Cut Back of Employment Termination Payments. 

 

	 	(a)	This Agreement does not provide payments or benefits to the Executive upon a change in control. However, in the event that the employment termination payments provided
to the Executive under Paragraph 8 above, or any payment or benefit payable or provided to the Executive under any other plans and programs of the Company and its affiliates (collectively, the ‘Employment Termination Payments’), are
determined to constitute a parachute payment, as such term is defined in Section 280G(b)(2) of the Code and would subject the Executive to an excise tax under Section 4999 of the Code (the ‘Excise Tax’), the Employment
Termination Payments shall be reduced so that the maximum amount of the Employment Termination Payments (after reduction) shall be one dollar ($1.00) less than the amount that would cause the Employment Termination Payments to be subject to the
Excise Tax; provided, however, that the Employment Termination Payments shall only be reduced to the extent that the after-tax value of amounts received by the Executive after application of the above reduction would exceed the after-tax value of
the amounts received without application of such reduction. For this purpose, the after-tax value of an amount shall be determined taking into account all federal, state, and local income, employment and excise taxes applicable to such amount. In
making any determination as to whether the Employment Termination Payments would be subject to an Excise Tax, consideration shall be given to whether any portion of the Employment Termination Payments could reasonably be considered, based on the
relevant facts and circumstances, to be reasonable compensation for services rendered (whether before or after the consummation of applicable change in the ownership or effective control of the Company or in the ownership of a substantial portion of
the assets of the Company (the ‘change in control transaction’). 

  
 3 

	 	(b)	If a reduction is required under Paragraph 10(a), the Employment Termination Payments shall first be reduced by reducing or eliminating any accelerated vesting of stock
options or similar awards, then by reducing or eliminating any accelerated vesting of restricted stock or similar awards, then by reducing or eliminating any other remaining Employment Termination Payments with any reduction in non-cash Employment
Termination Payments being reduced before any cash Employment Termination Payments; provided, that no such reduction or elimination shall apply to any non-qualified deferred compensation amounts (within the meaning of Code Section 409A) to the
extent such reduction or elimination would accelerate or defer the timing of such payment in manner that does not comply with Code Section 409A. Vesting or payments shall be reduced or eliminated starting with the vesting or payment, as
applicable, which is to occur the furthest in the future. 

  

	 	(c)	An initial determination as to whether (i) any of the Employment Termination Payments and the amount thereof would be subject to the Excise Tax, and (ii) the
amount of the reduction, if any, that may be required pursuant to Paragraph 10(a), shall be made by an independent accounting firm selected by the Company and reasonably acceptable to the Executive (the ‘Accounting Firm’) prior to the
consummation of applicable change in control transaction. The Executive shall be furnished with notice of all determinations made as to the Excise Tax payable with respect to the Employment Termination Payments, together with the related
calculations of the Accounting Firm, promptly after such determinations and calculations have been received by the Company.” 

 12. By adding the following new Paragraph 14(g) to the Agreement, immediately after Paragraph 14(f) thereof: 
  

	 	“(g)	Compensation Recoupment Policy. Compensation paid or awarded under this Agreement shall be subject to any compensation recoupment policy adopted by the Company
from time to time that applies to the Company’s executive officers generally.” 

 IN WITNESS
WHEREOF, the parties have executed this Agreement this 22 day of February 2012. 
  

									
	 /s/ William M. Goodyear
	 		 	Navigant Consulting, Inc.
	William M. Goodyear	 		 		 	
		 		 	By:	 	/s/ Stephan A. James
		 		 		 	Its:	 	Chairman, Compensation Committee

  

  
 4EX-10.3

 EXHIBIT 10.3 
 [Navigant Consulting Letterhead] 
 February 22, 2012 

Mr. William M. Goodyear 

							
				
	 	 		 		 	
				
	 	 		 		 	

 Dear Bill: 
 It is with pleasure that we extend to you an offer to continue your employment with Navigant Consulting, Inc. (the “Company”) as Executive Chairman of the Company’s Board of Directors, for
the period beginning on March 1, 2012 (the “Effective Date”) and ending April 30, 2014, in accordance with your amended and restated Employment Agreement, as further amended by the First Amendment thereof (“Employment
Agreement”). The provisions of this letter agreement apply without regard to Section 14(a) of the Employment Agreement. 
 On June 1, 2012, subject to your continued employment, you will be awarded Restricted Stock Units (RSUs) with an approximate value of $1,000,000, under the Navigant Consulting, Inc. 2012 Long-Term
Incentive Plan (the “2012 LTIP”), subject to shareholder approval of the 2012 LTIP, and under the terms and conditions of the 2012 Restricted Stock Unit Award Agreement attached hereto (the “2012 Award Agreement”). As set forth
in the 2012 Award Agreement, the RSUs granted on June 1, 2012 will vest on a monthly basis, pro rata, on the last day of each calendar month beginning June 2012 and ending April 2013. 

On May 1, 2013, subject to your continued employment, you will be awarded additional RSUs with an approximate value of $1,000,000,
under the 2012 LTIP and the terms and conditions of the 2013 Award Agreement attached hereto (the “2013 Award Agreement”). As set forth in the 2013 Award Agreement, the RSUs granted on May 1, 2013 will vest on a monthly basis, pro
rata, on the last day of each calendar month beginning May 2013 and ending April 2014. 
 Shares of Company stock attributable
to the vested RSUs will be distributed after your Separation from Service, at the earliest date at which the Company reasonably anticipates that the deduction of the payment amount will not be limited by application of Section 162(m) the
Internal Revenue Code of 1986, as amended (the “Code”), or by the end of the calendar year in which you terminate employment. 
 Notwithstanding the foregoing: 
 (a) If the Company’s shareholders do not
approve the 2012 LTIP prior to June 1, 2012, and you remain employed by the Company on that date, the Company will provide you with a cash payment equal to $1,000,000, which will be payable in equal installments, on the last day of each
calendar month beginning June 2012 and ending April 2013 unless, on or prior to the date of any such monthly payment, the Company has terminated your employment for Cause (as defined in your Employment Agreement) or you have resigned from employment
with the Company, in either of which cases no further payments under this paragraph (a) shall be due to you. 

 Mr. William M. Goodyear 
 February 22, 2012 
 Page 2 

(b) If the Company’s shareholders do not approve the 2012 LTIP or a similar plan prior to May 1, 2013, and you remain employed
by the Company on that date, the Company will provide you with a cash payment equal to $1,000,000, which will be payable in equal installments, on the last day of each calendar month beginning May 2013 and ending April 2014 unless, on or prior to
the date of any such monthly payment, the Company has terminated your employment for Cause or you have resigned from employment with the Company, in either of which cases no further payments under this paragraph (b) shall be due to you. 

The payments in paragraphs (a) and (b) above, to the extent applicable, are in addition to, and not in lieu of, any other
amounts to which you may be entitled under the Employment Agreement or any other plan, program, policy or arrangement of the Company (as described in Paragraph 8(d) of the Employment Agreement). 

 

	
	Sincerely,
	
	/s/ Stephan James

 Stephan James 

Chairman of the Compensation Committee 
 of the
Board of Directors 
  

			
		
	Accepted:	 	/s/ William M. Goodyear
		 	William M. Goodyear
	
	Date: February 22, 2012
		
	Enclosures

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00200-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00200-of-00352.parquet"}]]