Document:

Management Rights Letter Agreement

 Exhibit 10.21 
  
 October 12, 2004 
  
 Lake Capital Partners LP 
 676 North Michigan Avenue 
 Suite 3900 
 Chicago, Illinois 60601 
  
 Ladies and Gentlemen: 
  
 This letter will confirm our agreement that pursuant to the purchase and continued holding by Lake Capital Partners LP (the
“Investor”) of membership interests in HCG Holdings LLC (the “Company”) and the anticipated public offering of stock of Huron Consulting Group Inc. (the “Operating Subsidiary”) that will result in a reduction of the
percentage ownership of the Operating Subsidiary by the Company, the Investor will be entitled to the following contractual management rights for so long as the Investor owns membership interests in the Company and thereafter if Investor owns stock
in the Operating Subsidiary: 
  
 1. The Operating Subsidiary shall
deliver to the Investor: 
  
 (a) As soon as practicable, but in
any event within ninety (90) days after the end of each fiscal year of the Operating Subsidiary, an income statement for such fiscal year, a balance sheet end of each fiscal year of the Operating Subsidiary, an income statement for such fiscal year,
a balance sheet of the Operating Subsidiary and statement of stockholder’s equity as of the end of such year, and a statement of cash flows for such year, such year-end financial reports to be in reasonable detail, prepared in accordance with
generally accepted accounting principles (“GAAP”), and audited and certified by independent public accountants of nationally recognized standing selected by the Operating Subsidiary; 
  
 (b) As soon as practicable, but in any event within forty-five (45) days
after the end of each of the first three (3) quarters of each fiscal year of the Operating Subsidiary, an unaudited profit or loss statement, statement of cash flows for such fiscal quarter, an unaudited balance sheet and a statement of
stockholder’s equity as of the end of such fiscal quarter; 
  
 (c) to the extent the Operating Subsidiary is required pursuant to law or pursuant to the terms of any outstanding indebtedness of the Operating Subsidiary to prepare such reports, then, in lieu of the items listed in (a) or (b), any annual
reports, quarterly reports and other periodic reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 actually prepared by the Operating Subsidiary as soon as available. 
  
 (d) Such other information relating to the financial condition, business,
prospects or corporate affairs of the Operating Subsidiary as the Investor may from time to time request, provided, however, that the Operating Subsidiary shall not be obligated under this subsection (d) to provide information which it deems in good
faith to be a trade secret or similar confidential information. 
  
 2. The Investor shall be entitled to consult with and advise management of the Operating Subsidiary on significant business issues, including management’s proposed annual operating plans, and management will meet with the Investor
regularly during each year at the Operating Subsidiary’s facilities at mutually agreeable times for such consultations and advice and to review progress in achieving said plans. 

 3. The Investor may examine the books and records of the Operating Subsidiary and inspect its facilities
and may request information at reasonable times and intervals concerning the general status of the Operating Subsidiary’s financial condition and operations, provided that access to highly confidential proprietary information and facilities
need not be provided unless the Investor first agrees to execute a proprietary information and non-disclosure agreement in a form acceptable to the Operating Subsidiary. 
  
 4. The Operating Subsidiary shall give a representative of the Investor copies of all notices, minutes, consents and other
material that the Operating Subsidiary provides to its Directors, except that the Investor may be excluded from access to any material or meeting or portion thereof if the Operating Subsidiary believes, upon advice of counsel, that such exclusion is
reasonably necessary to preserve the attorney-client privilege, to protect highly confidential proprietary information, or for other similar reasons. Upon reasonable notice and at a scheduled meeting of the Board of Directors or such other time, if
any, as such Board of Directors may determine in its sole discretion, such representative may address the Board of Directors with respect to the Investor’s concerns regarding significant business issues facing the Operating Subsidiary.

  
 The Investor agrees, and any representative of the Investor
will agree, to hold in confidence and trust and not use or disclose any confidential information provided to or learned by it in connection with its rights under this letter. 
  

			
	Very truly yours,
	
	HURON CONSULTING GROUP INC.
	
	

	By:	 	Gary E. Holdren
	Its:	 	President and Chief Executive Officer

  
 Agreed and accepted this 12th
day of 
 October, 2004 
  
 LAKE CAPITAL PARTNERS LP 
  

							
	 	 	 	 	By:	 	Lake Capital Investment Partners LP
				
	 	 	 	 	Its:	 	General Partner
				
	 	 	 	 	By:	 	Lake Partners LLC
				
	 	 	 	 	Its:	 	General Partner
			
	 	 	 	 	

	 	 	 	 	 By:
  
	 	

	 	 	 	 	 Its:
  
	 	

  

 2Senior Management Agreement

 Exhibit 10.22 
  
 SENIOR MANAGEMENT AGREEMENT 
  

BY AND BETWEEN 
  
 HURON CONSULTING GROUP LLC 
  
 AND 
  
 GARY BURGE 
  
  

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page

	1.	  	EMPLOYMENT	  	1
			
	2.	  	COMPENSATION AND BENEFITS	  	3
			
	3.	  	OPTIONS ON COMMON INTERESTS	  	3
			
	4.	  	[INTENTIONALLY OMITTED]	  	3
			
	5.	  	FRINGE BENEFITS AND EXPENSES	  	4
			
	6.	  	COMPENSATION AFTER TERMINATION	  	4
			
	7.	  	RESTRICTIVE COVENANTS	  	5
			
	8.	  	EFFECT ON TERMINATION	  	6
			
	9.	  	REMEDIES	  	6
			
	10.	  	MISCELLANEOUS	  	7
		
	FORM OF GENERAL RELEASE	  	APPENDIX A

  

 i 

 SENIOR MANAGEMENT AGREEMENT 
  
 SENIOR MANAGEMENT AGREEMENT (the “Agreement”), effective as of November 25, 2002 (the
“Effective Date”), by and between Huron Consulting Group LLC, a Delaware limited liability company (the “Company”), and Gary Burge (the “Executive”). 
  
 PRELIMINARY RECITALS 
  
 A. WHEREAS, the Company is engaged in the business of providing diversified
business consulting services (the “Business”). For purposes of this Agreement, the term the “Company” shall include the Company, its subsidiaries and assignees and any successors in interest of the Company and its
subsidiaries; and 
  
 B. WHEREAS, the Company desires to employ
Executive as of the Effective Date, and Executive desires 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 employ Executive, and Executive agrees to accept employment with the Company, as Group Managing
Director, Chief Financial Officer 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 the Company’s Chief Executive Officer (the “Chief Executive Officer”) shall from time to time direct. Executive
shall perform the duties and carry out the responsibilities assigned to him, to the best of his ability, in a trustworthy and businesslike manner for the purpose of advancing the business of the Company. Executive acknowledges that his duties and
responsibilities hereunder will require his full business time and effort and agrees that, during the Employment Period, he will not engage in any other business activity or have any business pursuits or interests which materially interfere or
conflict with the performance of his duties hereunder. 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 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 Executive’s employment under this Agreement. Notwithstanding anything to the contrary contained herein, the Employment Period is subject to termination pursuant to Section 1.3, 1.4 and 1.5. 
  

 1 

 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 (i) due to the Permanent Disability of Executive, (ii) for Cause or (iii) without Cause for any or no reason. Such
termination shall be effective upon the date of service of such notice pursuant to Section 10.6. 
  
 (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 Chief Executive Officer: 
  
 (i) the failure of Executive to perform his 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; 
  
 (ii) commission by Executive of an act or omission constituting (x) a felony, (y) dishonesty with respect to the Company or (z) fraud; 
  
 (iii) commission by Executive of an act or omission that (x) could adversely and materially affect the Company’s business or
reputation, or (y) involves moral turpitude; 
  
 (iv) 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 (v) 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 by the Company to Executive; or 
  
 (v) any breach, non-performance or non-observance of
Sections 7.3, 7.4 or 7.5, 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.
Executive shall give sixty (60) days’ prior written notice to the Company prior to the effectiveness of any resignation of his employment with the Company. 
  

 2 

 2. Compensation and Benefits. 
  
 2.1 Base Salary. As consideration for the services of Executive hereunder, during the Employment Period the Company
shall pay Executive an annual base salary of $225,000 (the “Base Salary”), payable in accordance with the Company’s customary payroll practices as in effect from time to time. The Chief Executive Officer shall perform an annual
review of Executive’s compensation based on Executive’s performance of his 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, or pursuant to law. The term Base Salary shall include any changes to the Base Salary from time to time. 
  
 2.2 Bonus Programs. 
  
 (a) Annual Bonus. During the Employment Period,
Executive shall be eligible for an annual bonus in an amount determined by the Company’s Board of Directors (the “Board”) based on Executive’s performance of his duties and the Company’s other compensation policies
(the “Annual Bonus”). The target for the Executive’s Annual Bonus shall be up to ninety thousand dollars ($90,000). 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 last day of the performance period to which the bonus relates. For fiscal year 2002 the Annual Bonus will be prorated based on the number of days worked. 
  
 (b) Performance Bonus. For each calendar year in
which the Company’s EBITDA margin is greater than twenty-five percent (25%) as determined by the Board with reference to the Company’s audited financial statements, Executive shall be eligible for a special performance bonus (the
“Performance Bonus”) in addition to the Annual Bonus, which would be in an amount determined by the Chief Executive Officer with approval by the Board, provided that Executive is employed by the Company as of the date such
Performance Bonus is generally paid to executives of the Company. 
  
 3. Options on Common Interests. 
  
 3.1 Within 90
days of the Effective Date, Executive shall be granted options (the “Options”) with respect to 60,000 shares of common stock (the “Interests”) in Huron Consulting Group, Inc., the parent company of the Company (the
“Parent”), which Options shall have an exercise price of one cent ($.01) per option. These Options shall vest in four equal increments, with one-quarter vesting on the first anniversary of the Effective Date and one-quarter vesting
on each of the next three anniversaries of the Effective Date; provided, however, that no Options shall vest if Executive is not employed by the Company as of such vesting date. Such Options shall be subject to the terms of the Company’s Equity
Incentive Plan (the “Equity Plan”) and granting agreement, which shall be made effective prior to the grant of the Options. 
  
 3.2 Executive hereby acknowledges and agrees that the issuance of the Options to Executive does not affect the right of the Company to terminate
Executive’s employment as provided in this Agreement or otherwise at law. 
  
 4. [Intentionally Omitted] 
  
  

 3 

 5. Fringe Benefits and Expenses. 
  
 5.1 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. 
  
 5.2 During the Employment Period, the Company shall provide Executive with twenty (20) vacation days per calendar year, and, for periods which are less than a full calendar year, with vacation days for such period
equal to the product of the number of vacation days stated in this paragraph for a calendar year, multiplied by a fraction with a numerator equal to the number of days in such period Executive is employed by the Company and a denominator equal to
three hundred sixty-five (365), with any partial days rounded to the nearest whole number. Such vacation days for a calendar year or such other period shall accrue to Executive on a monthly basis, at the rate of one-twelfth (1/12th) of the number of
vacation days for such period per full month of employment with the Company, rounded to the nearest whole number. Unused vacation days for one calendar year may be carried over through the first ninety (90) days of the immediately subsequent
calendar year. 
  
 5.3 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 his 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. 
  
 6. Compensation After Termination. 
  
 6.1 If Executive is terminated by the Company for Cause or if Executive resigns, 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). 
  
 6.2 If Executive is terminated
by the Company without Cause, Executive shall be entitled to receive: (i) as severance pay, an amount equal to the Base Salary that would otherwise have been payable if Executive continued his employment hereunder for six (6) months (such six
(6)-month period, the “Severance Period”), payable in accordance with the Company’s policies that would otherwise apply to the payment of the Base Salary, and (ii) continuation of medical benefits during the Severance Period
upon the same terms as exist immediately prior to the termination of employment. The Company shall, except as required by law, have no other obligations hereunder 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). Notwithstanding the foregoing, amounts payable under this
Section 6.2 shall be reduced by the amount of compensation earned, received or receivable by Executive relating to Executive’s employment with, or other provision of services to, third parties during the Severance Period, (such compensation
“Subsequent Pay”) and Executive shall use all reasonable efforts to obtain such employment or engagement for services as soon as possible after the date of termination hereunder. Executive shall notify the Company of the existence
of Subsequent Pay as soon as possible after Executive has knowledge of such Subsequent Pay. 
  

 4 

 6.3 If Executive is terminated due to Executive’s Permanent Disability or if Executive dies during
the Employment Period, then (i) Executive or Executive’s estate, as the case may be, shall be entitled to receive as severance pay an amount equal to the Base Salary for three (3) months which amount shall be payable in accordance with the
Company’s policies that would otherwise apply to the payment of the Base Salary, and (ii) Executive and/or his eligible dependents shall receive continuation of medical benefits upon the same terms as exist immediately prior to the termination
of employment for the three (3)-month period immediately following the termination of employment. The Company shall have no other obligations hereunder 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). 
  
 7. Restrictive Covenants. 
  

7.1 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 7, 8 and 9 are essential to protect the Company and the 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. 
  
 7.2 Confidential Information. As used in
this Section 7, “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. 

  

 5 

 
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 his control. 
  
 7.3 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 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. 
  
 7.4 [Intentionally Omitted] 

 
 7.5 Non-Interference with Relationships. Executive shall not
directly or indirectly solicit, induce or encourage (i) any employee of the Company (or any person who had been an employee of the Company within the six-month period immediately preceding termination of Executive’s employment), or (ii) any
customer, client, supplier, lender, professional advisor or other business relation of the Company to leave, alter or cease his or her relationship with the Company, for any reason whatsoever, for eighteen (18) months after Executive’s
termination, for any reason, of employment with the Company. Executive shall not hire or assist in the hiring of any executive or employee of the Company for that same time period, whether or not Executive is then self employed or employed by
another business. Executive shall not directly or indirectly make disparaging remarks about the Company. 
  
 7.6 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 7.3, 7.4 and 7.5 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. 
  
 8. Effect on Termination. If, for any reason, 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 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 7.3, 7.4, and 7.5 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 him of any of the Restrictive Covenants, the Company shall be entitled to 
  

 6 

 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 10.1, 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, effective as of January 1, 2001 (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 36 of the AAA’s Commercial Arbitration Rules effective as of
September 1, 2000 (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 General Release. Executive acknowledges and agrees that
Executive’s right to receive severance pay and other benefits pursuant to Section 6.2 and Section 6.3 of this Agreement is contingent upon Executive’s compliance with the covenants set forth in Section 7 of this Agreement and
Executive’s execution and acceptance of the terms and conditions of, and the effectiveness of, a general release in a form substantially similar to that attached hereto as Exhibit A (the “Release”). If the Executive fails to
comply with the covenants set forth in Section 7 or if the Executive fails to execute the Release or revokes the Release during the seven day period following his execution of the Release, then the Executive shall not be entitled to any severance
payments or other benefits to which the Executive would otherwise be entitled under Sections 6.2 or 6.3 
  
 10.2 No Conflict. Executive represents that no breach or other violation of any past, current or contemplated oral or written contractual
arrangement to which Executive is a party (including, but not limited to, any non-compete or non-solicitation agreement with any former employer) has or will occur by virtue of Executive’s employment or your performance of services for the
Company 
  
 10.3 Assignment. Executive may not assign any
of his 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. 
  

 7 

 10.4 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. 
  
 10.5 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. 
  
 10.6 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. 
  
 10.7 Notices. All
notices, demands or other communications to be given or delivered under or by reason of the provisions of this Agreement shall be in writing and shall be deemed to have been duly given if (i) delivered personally to the recipient, (ii) 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 (iii) 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 LLC
	 	 	550 West Van Buren Street
	 	 	Chicago, IL 60607
	 	 	Attention:        General Counsel
	 	 	Facsimile:        (312) 880-3250
		
	with copy to:	 	Lake Capital, LLC
	 	 	676 North Michigan Ave.
	 	 	Suite 3900
	 	 	Chicago, IL 60611
	 	 	Attention:         Joseph Karczewski
	 	 	Facsimile:         (312) 640-7065
		
	To Executive:	 	On file in the Company’s payroll records

  
 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. Date of service of such notice shall be (w) the date such notice is personally delivered, (x) three days after the date of
mailing if sent by certified or registered mail, (y) one 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. 
  

 8 

 10.8 Preamble; Preliminary Recitals. The Preliminary Recitals set forth in the Preamble hereto are
hereby incorporated and made part of this Agreement. 
  
 10.9
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. 
  
 10.10 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. 
  
 10.11 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. 
  
 10.12 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. 
  
 10.13 Amendment and Waivers. Any provisions of the Agreement may be
amended or waived only with the prior written consent of the Company and Executive. 
  
 SIGNATURE PAGE FOLLOWS. 
  

 9 

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

  

			
	THE COMPANY:
	
	HURON CONSULTING GROUP LLC
		
	 By:
  
	 	 /s/ Kathleen Johnson

	Its:	 	Vice President
	Date: December 10, 2002
	
	EXECUTIVE
	
	 /s/ Gary Burge

	
	     Gary Burge

	(print name)
	
	     12/10/02

	Date

  

 10 

 Exhibit A 
  

GENERAL RELEASE OF ALL CLAIMS 
  
 1. For valuable consideration, the adequacy of which is hereby acknowledged, the undersigned (“Executive”), for himself, his spouse,
heirs, administrators, children, representatives, executors, successors, assigns, and all other persons claiming through Executive, if any (collectively, “Releasers”), does hereby release, waive, and forever discharge Huron
Consulting Group LLC (the “Huron”) and the parent company to Huron (“Parent”) (collectively Huron and Parent being “Company”), Company’s agents, subsidiaries, parents affiliates, related
organizations, employees, officers, directors, attorneys, successors, and assigns (collectively, the “Releasees”) from, and does fully waive any obligations of Releasees to Releasers for, any and all liability, actions, charges,
causes of action, demands, damages, or claims for relief, remuneration, sums of money, accounts or expenses (including attorneys’ fees and costs) of any kind whatsoever, whether known or unknown or contingent or absolute, which heretofore has
been or which hereafter may be suffered or sustained, directly or indirectly, by Releasers in consequence of, arising out of, or in any way relating to Executive’s employment with the Company or any of its affiliates and the termination of
Executive’s employment. The foregoing release and discharge, waiver and covenant not to sue includes, but is not limited to, all claims and any obligations or causes of action arising from such claims, under common law including wrongful or
retaliatory discharge, breach of contract (including but not limited to any claims under the Senior Management Agreement between Huron and Executive, dated November 25, 2002, as amended from time to time (the “Senior Management
Agreement”) (but excluding claims regarding severance pay and benefits) and any claims under any stock option agreements between Executive and Huron or Parent) and any action arising in tort including libel, slander, defamation or
intentional infliction of emotional distress, and claims under any federal, state or local statute including Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1866 and 1871 (42 U.S.C. § 1981), the National Labor Relations Act,
the Age Discrimination in Employment Act (ADEA), the Fair Labor Standards Act, the Employee Retirement Income Security Act, the Americans with Disabilities Act of 1990, the Rehabilitation Act of 1973, the Illinois Human Rights Act, or the
discrimination or employment laws of any state or municipality, and/or any claims under any express or implied contract which Releasers may claim existed with Releasees. This also includes a release by Executive of any claims for breach of contract,
wrongful discharge and all claims for alleged physical or personal injury, emotional distress relating to or arising out of Executive’s employment with the Company or the termination of that employment; and any claims under the WARN Act or any
similar law, which requires, among other things, that advance notice be given of certain work force reductions. This release and waiver does not apply to any claims or rights that may arise after the date Executive signs this General Release. The
foregoing release does not cover any right to indemnification now existing under the Operating Agreement of Huron or the Parent regardless of when any claim is filed.. 
  
 2. Excluded from this release and waiver are any claims which cannot be waived by law, including but not limited to the
right to participate in an investigation conducted by certain government agencies. Executive does, however, waive Executive’s right to any monetary recovery should any agency (such as the Equal Employment Opportunity Commission) pursue any
claims on Executive’s behalf. Executive represents and warrants that Executive has not filed any complaint, charge, or lawsuit against the Releasees with any government agency or any court. 
  

 1 

 3. Executive agrees never to sue Releasees in any forum for any claim covered by the above waiver and
release language, except that Executive may bring a claim under the ADEA to challenge this General Release. If Executive violates this General Release by suing Releasees, other than under the ADEA or as otherwise set forth in Section 1 hereof,
Executive shall be liable to the Company for its reasonable attorneys’ fees and other litigation costs incurred in defending against such a suit. Nothing in this General Release is intended to reflect any party’s belief that
Executive’s waiver of claims under ADEA is invalid or unenforceable, it being the interest of the parties that such claims are waived. 
  
 4. Executive acknowledges and recites that: 
  
 (a) Executive has executed this General Release knowingly and voluntarily; 
  
 (b) Executive has read and understands this General Release in its entirety; 
  
 (c) Executive has been advised and directed orally and in
writing (and this subparagraph (c) constitutes such written direction) to seek legal counsel and any other advice he wishes with respect to the terms of this General Release before executing it; 
  
 (d) Executive’s execution of this General Release has
not been forced by any employee or agent of the Company, and Executive has had an opportunity to negotiate about the terms of this General Release; and 
  
 (e) Executive has been offered 21 calendar days after receipt of this General Release to consider its terms before executing it.

  
 5. This General Release shall be governed by the internal laws
(and not the choice of laws) of the State of Illinois, except for the application of pre-emptive Federal law. 
  
 6. Executive shall have 7 days from the date hereof to revoke this General Release by providing written notice of the revocation to the Company, as
provided in subsection 10.7 of the Employment Agreement, in which event this General Release shall be unenforceable and null and void. 
  
 PLEASE READ THIS AGREEMENT CAREFULLY. IT CONTAINS A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS. 
  

			
	 	  	Gary Burge
		
	Date:                    	  	

	 	  	Executive

  

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