Document:

exv10w2

Exhibit 10.2

Confidential Materials omitted and filed separately with the 
Securities and Exchange
Commission. Asterisks denote omissions.

AMENDED AND RESTATED

WRIGHT EXPRESS CORPORATION

SHORT-TERM INCENTIVE PROGRAM

ARTICLE 1- PURPOSE OF PROGRAM

Wright Express Corporation has adopted this Short-Term Incentive Program (“STIP”) to attract and
retain high-performing employees; to provide incentives for eligible employees to achieve specified
company, department and/or individual performance goals; and to reward such employees for the
achievement of these specified goals. The Short-Term Incentive Program is intended to qualify as
performance-based compensation under Section 162(m) of the Internal Revenue Code.

ARTICLE 2- DEFINITIONS

Wherever used in this document, the following terms have the meanings set forth below.

2.1 Appendix means an Appendix to this Program document containing targets, payment metrics,
and other terms of the Program (or modifications thereof) applicable to a specific Plan Year, or
Mid-Year Payout. The Appendices shall be considered part of the Program document.

2.2 Company means Wright Express Corporation or any legal entity that is controlled by, under
common control with, or that controls Wright Express Corporation.

2.3 Eligible Earnings means total gross pay for the applicable Plan Year, or Mid-Year Period
(or the portion thereof during which the Participant is actively employed and eligible to
participate in the STIP), including, salary or wages classified by the Company as regular; paid
time off (PTO), whether planned or unplanned; holiday; bereavement; jury duty; retroactive pay;
overtime pay; shift differential; language differential; and excluding, salary or wages classified
by the Company as disability pay, commission/incentive pay, and bonuses. Under no circumstances
shall the same earnings be applicable for a Plan Year and a Mid-Year Period covered by the Plan or
included from a period in which the employee was not a Participant in accordance with section 2.6.

2.4 Effective Date means January 1, 2011.

2.5 MBO means management by objectives — Key Business Drivers.

2.6 Participant means an eligible employee who participates in the Program for a Plan Year, or
Mid-Year Payout in accordance with Article 3.

2.7 Plan Year means the fiscal year of the Company; as of the Effective Date, the Plan Year is
the calendar year.

2.8 Mid-Year Period means the six-month period beginning on January 1st and ending on
June 30th of the Plan Year.

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2.9 Program means this Wright Express Corporation Short-Term Incentive Program, as amended
from time to time, including the provisions of any Appendix, which are incorporated herein.

ARTICLE 3- PARTICIPATION

3.1 Eligible Employees

Each full-time regular or part-time regular employee of the Company who meets the following
requirements shall be a Participant for a Plan Year:

     (a) The employee is not eligible for payout under a subsidiary bonus program, a
commission plan, or a high performance pay plan of the Company; and

     (b) The employee commences employment on or before November 1 of the applicable year;
and

     (c) Except as provided in Section 3.2, the employee is actively employed on the bonus
payment date for the applicable year.

Each full-time or part time regular employee of the Company who meets the following requirements
shall be a Participant for a Mid-Year Period:

     (a) The employee is not eligible for payout under a subsidiary bonus program, a
commission plan, or a high performance pay plan of the Company; and

     (b) Except as provided in Section 3.2, the employee is actively employed on the bonus
payment date for the applicable Mid-Year Period; and

     (c) The employee is generally categorized as an individual contributor or a team leader
within the Company’s human resources information system; and

     (d) The employee commences employment on or before May 1 of the Mid-Year Period.

3.2 Special Rules

     (a) A Participant who dies or becomes totally disabled during a Plan Year or Mid-Year
Period (as determined under the Company’s Long-Term Disability program) may receive a
pro-rated bonus at target for the applicable year or Mid-Year Period based on his or her
Eligible Earnings during the period of the Participant’s active employment. Any bonus
payable to a deceased Participant shall be paid to his or her personal representative.

     (b) A Participant who is not actively employed on the bonus payment date for a Plan
Year or Mid-Year Period due to an approved leave of absence may receive a bonus for the
applicable year or Mid-Year Period based on his or her Eligible Earnings during

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the period of the Participant’s active employment upon his or her return to active
employment by the Company.

     (c) A Participant who shall be the subject of a Performance Improvement Plan and
continues to be the subject of a Performance Improvement Plan at the time payments are made
under Section 5.1 of the Program shall not be eligible to receive a payment until he or she
has successfully met the requirements of the Performance Improvement Plan.

ARTICLE 4- PERFORMANCE METRICS

The Corporate and Executive Officer MBOs for each Plan Year shall be approved by the Compensation
Committee of the Company’s Board of Directors, or its delegate, by March 31 of the Plan Year.

The corporate performance measures applicable to a Plan Year or Mid-Year Period shall be set out in
the Appendix.

ARTICLE 5- PAYMENTS

5.1 Time and Form

STIP Incentives shall be calculated and paid in a single payment for the applicable year or
Mid-Year Period, by no later than March 15 of the following year.

5.2 Position Changes

All calculations shall be made based on each Participant’s applicable Eligible Earnings and the
Participant’s position and STIP percentage at the end of the applicable performance period. If a
position change results in a Participant moving from eligibility for Full-Year participation to
eligibility for Mid-Year Period participation after the Mid-Year has been measured and paid out,
the Eligible Earnings for the entire year will be utilized in calculating the Participant’s payout
at the end of the Plan Year. “Position changes” include promotions, demotions, and transfers
between positions and/or departments.

5.3 Taxes

All federal, state or local taxes that the Program Administrator determines are required to be
withheld from any payments made under the Program shall be withheld.

ARTICLE 6- ADMINISTRATION

6.1 Program Administrator

The Program shall be administered by the Compensation Committee of the Company’s Board of
Directors, which may delegate administrative responsibility in whole or in part to the Chairman and
Chief Executive Officer and/or the Senior Vice President, Human Resources (“Administrators”),
subject to any requirements for review and approval that may be established by the Compensation
Committee. In all areas not specifically reserved for such review and

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approval, the decisions of the applicable Administrator shall be binding on the Company and each
eligible employee under Article 3. Notwithstanding the foregoing, the Compensation Committee may
not modify MBOs or other performance criteria during a Plan Year so as to increase the payment to a
Section 162(m) Participant (as defined below) or exercise its discretion to increase the amount of
incentive pay that would otherwise be due a Section 162(m) Participant upon attainment of a
performance goal.

6.2 Claims

Claims regarding payments under the Program shall be directed to a Participant’s direct supervisor
and/or the Company’s Compensation Department. Any claim regarding the amount of any bonus payment
hereunder shall be made within 30 days of the date of such payment, or shall be forfeited.

ARTICLE 7- AMENDMENT AND TERMINATION

The Company reserves the right to terminate, amend, modify and/or restate this Program, in whole or
in part, at will at any time, with or without advance notice.

ARTICLE 8- MISCELLANEOUS

8.1 Individual Effectiveness Factor (“IEF”)

An Individual Effectiveness Factor (“IEF”) shall be assigned to an employee classified as an
“associate” based on criteria established by the Company. The IEF for each associate shall be
initially established at 1.00. An associate’s IEF for a Plan Year may be adjusted down, but not
below 0.75, or up, but not above 1.25, by action of his or her supervisor with the approval of his
or her division Senior Vice President, or Executive Vice President as applicable, and the Company’s
Chairman and Chief Executive Officer. However, the foregoing adjustments (in the aggregate) must
not increase the total amount payable under the Program for the given year. In this regard,
neither the CEO nor any other executive officer is to be considered as an “associate.”

8.2 Payment Adjustments and Special Circumstances

The Compensation Committee shall have the authority to adjust payments under the Program (upward or
downward) at its discretion. Subject to the approval of the Compensation Committee, the Chairman
and Chief Executive Officer and the Senior Vice President, Human Resources, acting together, shall
have the power to adjust payments under the Program (upward or downward) as and to the extent
appropriate to achieve the stated goals and purposes of the Program and may approve exceptions to
the Program under special circumstances, to avoid undue hardship with respect to a Participant.
Notwithstanding the foregoing, neither the Compensation Committee, the Chairman and CEO, the Senior
Vice President, Human Resources, nor any other person may increase or accelerate the payment due to
any Section 162(m) Participant with respect to any Plan Year. The term “Section 162(m)
Participant” shall mean the Chairman and CEO and each of the four highest paid officers of the
Company (other than the President and CEO) on the last day of the taxable year, for purposes of the
executive compensation disclosure rules under the Securities Exchange Act of 1934.

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8.2 Information

The Program Administrators shall be responsible for ensuring effective communication of the Program
to eligible employees. Copies of the Program shall be available to all Participants. All
modifications and changes to the Program shall be appropriately documented and communicated to
Participants.

8.3 No Guarantee of Payment

The Company does not guarantee payment of any bonus amounts hereunder, except to the extent that
payment is required by applicable law.

8.4 Limitation of Employees’ Rights

Nothing contained in the Program shall confer upon any person a right to be employed or to continue
in the employ of the Employer, or interfere in any way with the right of the Employer to terminate
the employment of a Participant at any time, with or without cause.

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IN WITNESS WHEREOF, Wright Express Corporation has caused this document to be executed by its duly
authorized officer this 29th day of March, 2011.

	 	 	 	 	 
	WRIGHT EXPRESS CORPORATION

 	 	 
	By:  	/s/ Robert C. Cornett
 	 	 
	 	Robert C. Cornett 	 	 
	 	Its: Senior Vice President, Human Resources
Date: March 29, 2011	 	 

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APPENDIX I

2011 STIP FACTORS 

STIP Weightings for Calculations and Payout

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	PPG1	 	 
	 	 	Adjusted	 	Adjusted	 	 
	 	 	Net Income	 	Revenue2	 	MBOs
	CEO, EVPs, SVPs
	 	 	50	%	 	 	20	%	 	 	30	%
	Vice Presidents (Non-Sales)
	 	 	50	%	 	 	20	%	 	 	30	%
	Vice Presidents (Sales)
	 	 	20	%	 	 	40	%	 	 	40	%
	Directors and Managers
	 	 	50	%	 	 	20	%	 	 	30	%
	Team Leaders and Associates3
	 	 	80	%	 	 	20	%	 	 	0	%

 

			
	1	 	PPG: Price Per Gallon
	 
	2	 	PPG Adjusted Revenue is reported 2011 Revenue adjusted for the difference between
reported 2011 PPG and Board-approved budgeted 2011 PPG of $3.19.
	 
	3	 	Associates and/or Team Leaders may be assigned individual MBOs; in these cases,
MBO weighting, measurement period and resulting payouts will generally be treated in the same
manner as Managers.

Annual Payout Levels

In 2011, the Company must achieve at least threshold results for Adjusted Net Income in order to
pay out any portion of the Short Term Incentive Program.

	 	 	 	 	 
	Performance Results	 	Payout %
	Threshold
	 	 	25	%
	Threshold/Target
	 	 	50	%
	Target
	 	 	100	%
	Target/Max
	 	 	150	%
	Max or above
	 	 	200	%

Note: Payouts for all MBOs will be according to the above chart and will be interpolated between
the performance results levels whenever possible. If an MBO cannot be interpolated due to the
metrics used, payout level for that MBO will be at the highest performance result level fully
achieved.

Mid-Year Payout Levels

In 2011, the Company must achieve at least threshold results for Mid-Year Period Adjusted Net
Income in order to pay out any portion of the Mid-Year Period of the Short Term Incentive Program.

	 	 	 	 	 
	Performance Results	 	Payout %
	Threshold
	 	 	25	%
	Threshold/Target
	 	 	50	%
	Target
	 	 	100	%
	Target/Max
	 	 	100	%
	Max or above
	 	 	100	%

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Note: Payout levels of the corporate metrics will be incrementalized.

Special Provision for Payout of Mid-Year Periods where Actual Performance Exceeds Target

In the case of a Mid-Year Period where the actual performance exceeds Target, payout will be capped
at Target. The Chairman, President, and Chief Executive Officer may exercise discretion to modify
Mid-Year Period payouts based on Company performance or other factors. Final year-end payouts for
Mid-Year participants will be calculated using full year performance against full year targets,
less the Mid-Year payout.

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APPENDIX II

MBOs

When establishing the performance goals for non-corporate MBOs, Threshold goals are generally set
at 90% probability of achievement, Target goals are generally set at 75% probability of
achievement, and Maximum goals are generally set at 25% probability of achievement.

Corporate MBOs:

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Threshold	 	Target	 	Maximum
	Performance Goal	 	Performance	 	 Performance	 	 Performance
	Adjusted Net Income Full-Year1
	 	$	[**]	 	 	$	[**]	 	 	$	[**]	 
	PPG Adjusted Revenue Full-Year2
	 	$	[**]	 	 	$	[**]	 	 	$	[**]	 
	Adjusted Net Income Mid-Year3
	 	$	[**]	 	 	$	[**]	 	 	 	N/A	 
	PPG Adjusted Revenue Mid-Year4
	 	$	[**]	 	 	$	[**]	 	 	 	N/A	 

 

			
	1	 	Adjusted Net Income Full Year means Adjusted Net Income as reported in the
Corporation’s Form 8-K filing reporting the Corporation’s results for 2011 and may be adjusted to
exclude the following items (if any): losses from discontinued operations, the cumulative effects
of changes in Generally Accepted Accounting Principles, any one-time charge or dilution resulting
from any acquisition or divestiture, the effect of changes to our effective federal or state tax
rates, extraordinary items of loss or expense, and any other unusual or nonrecurring items of loss
or expense, including restructuring charges. The Compensation Committee may exercise discretion to
include all or part of an item of loss or expense.
	 
	2	 	PPG Adjusted Revenue is reported 2011 Revenue adjusted for the difference between
reported 2011 PPG and Board-approved budgeted 2011 PPG of $[**].
	 
	3	 	Adjusted Net Income Mid-Year means Adjusted Net Income as reported in the Corporation’s
Form 8-K filing reporting the Corporation’s results for the 1st and 2nd
Quarters of 2011. Adjusted Net Income Mid-Year may be adjusted to exclude the following items (if
any): losses from discontinued operations, the cumulative effects of changes in Generally Accepted
Accounting Principles, any one-time charge or dilution resulting from any acquisition or
divestiture, the effect of changes to our effective federal or state tax rates, extraordinary items
of loss or expense, and any other unusual or nonrecurring items of loss or expense, including
restructuring charges. The Compensation Committee may exercise discretion to include all or part
of an item of loss or expense.
	 
	4	 	PPG Adjusted Revenue Mid-Year Period is reported 2011 Revenue adjusted for the
difference between reported 2011 PPG and Board-approved budgeted 2011 PPG for the 1st
and
2nd Quarters of 2011.

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Executive Officer Strategic MBOs: CEO, US EVPs, and US SVPs have the following strategic MBOs for 2011:

	 	 	 	 	 	 	 	 	 
	Owners	 	Weight	 	MBO	 	Performance Metric
	 
	 	 	 	 	 	 	 	 
	US Executive Team

	 	 	50	%	 	Corporate ANI
	 	Threshold $[**], Target $[**], Max $[**]
	 
	 	 	 	 	 	 	 	 
	 

	 	 	20	%	 	Corporate PPG Adjusted Revenue
	 	Threshold $[**], Target $[**], Max $[**]
	 
	 	 	 	 	 	 	 	 
	 

	 	 	15	%	 	New Revenue Sources(1)
	 	2012 Budgeted New Revenue generated from US
and International New Revenue sources not
budgeted in 2011

Threshold $[**], Target $[**], Max $[**]
	 
	 	 	 	 	 	 	 	 
	 

	 	 	15	%	 	Total International ANI(2)
	 	Threshold $[**], Target $[**], Max $[**]

 

			
	(1)	 	New Revenue is any revenue not budgeted in 2011 from: PrePaid, Over The Road, New
Partner Portfolios, New Fees on Core Business, New Fees from sale of data, and other new revenue
sources. In the event of an acquisition in 2011, any incremental revenue approved by the Board in
the 2012 budget for the acquired company is considered New Revenue. For the purposes of this MBO,
incremental revenue from an acquisition is the greater of (1) any 2012 budgeted revenue greater
than the annualized and normalized rate of the average revenue for the acquired company in Q4 of
2011, or (2) full year 2011 revenue of the acquired company. Normalized shall mean adjusted to
mitigate for seasonality or any other factors necessary to establish a Q4 revenue rate that results
in a representative baseline revenue when annualized.
	 
	(2)	 	For the purposes of determining performance on this MBO, the committee may adjust
Total International ANI to account for the impact of foreign currency and tax rate fluctuations as
well as the impact of approved R&D and/or investments in international deals.

Vice President MBOs: Each Vice President generally has 1-2 MBOs, which may include a targeted
strategic or operational MBO.

Manager MBOs: Each Manager or Director generally has 1-2 MBOs. Manager MBOs will generally mirror
the MBOs assigned to their VP, however, in some cases managers may be assigned a targeted strategic
or operational MBO.

Page 10 of 10exv10w3

Exhibit 10.3

Confidential Materials omitted and filed separately with the Securities and Exchange

Commission. Asterisks denote omissions.

EXHIBIT B

2011 Annual Grant Long-Term Incentive Program 

Award Date:

March 10, 2011

Unit Allocation Ratio:

	 	 	 	 	 	 	 	 	 
	Wright Express	 	 	 	 
	Job Category	 	PSUs	 	RSUs
	CEO/EVP/SVP/VP
	 	 	60	%	 	 	40	%
	DIR/MGR/TL/IC
	 	 	50	%	 	 	50	%
	New Hire
	 	 	0	%	 	 	100	%

 

				
	 	 	PSU = Performance Based Restricted Stock Units

RSU = Restricted Stock Unit

Vesting Schedule:

The award vests at a rate of one third each year over a 3-year period beginning on the first
anniversary of the award date.

Performance-Based Restricted Stock Unit Calculations:

The number of PSUs vesting under this 2011 Long-Term Incentive Program is based on the
following:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Payout	 	PPG Adj Revenue	 	Adjusted Net Income
	 	 	%(1)	 	(60%)(3)	 	(40%)(2)
	 	 	 	 	 	 	Perf Level(3)	 	$(,000)	 	Perf Level(4)	 	$(,000)
	Threshold
	 	 	25	%	 	 	85.0	%	 	$	[**]	 	 	 	80.0	%	 	$	[**]	 
	 
	 	 	50	%	 	 	92.5	%	 	$	[**]	 	 	 	90.0	%	 	$	[**]	 
	Target
	 	 	100	%	 	 	100.0	%	 	$	[**]	 	 	 	100.0	%	 	$	[**]	 
	 
	 	 	125	%	 	 	101.3	%	 	$	[**]	 	 	 	103.5	%	 	$	[**]	 
	Target/Max
	 	 	150	%	 	 	102.5	%	 	$	[**]	 	 	 	107.0	%	 	$	[**]	 
	 
	 	 	175	%	 	 	103.8	%	 	$	[**]	 	 	 	110.5	%	 	$	[**]	 
	Max
	 	 	200	%	 	 	105.0	%	 	$	[**]	 	 	 	114.0	%	 	$	[**]	 

 

			
	(1)	 	Threshold ANI performance must be achieved for any PSUs to vest.
	 
	(2)	 	 Adjusted Net Income means Adjusted Net Income as reported in the Corporation’s
Form 8-K filing reporting the Corporation’s results for the performance period and may be adjusted
to exclude the following items (if any): losses from discontinued operations, the cumulative
effects of changes in Generally Accepted Accounting Principles, any one-time charge or dilution
resulting from any acquisition or divestiture, the effect of changes to our effective federal or
state tax rates, extraordinary items of loss or expense, and any other unusual or nonrecurring
items of loss or expense, including restructuring charges. The Compensation Committee may exercise
discretion to include all or part of an item of loss or expense.
	 
	(3)	 	PPG Adjusted Revenue is reported 2011 Revenue adjusted for the difference between
reported 2011 PPG and Board-approved budgeted 2011 PPG of $[**].
	 
	(4)	 	Shares granted are ratable between payout levels.

1

 

Example:

	 	•	 	Total Number of Units Awarded: 200
	 
	 	•	 	Ratio of PSUs/RSUs in Award: 50/50
	 
	 	•	 	Award Date: March 10, 2011
	 
	 	•	 	Total Number of PSUs in award: 100 (50% of total units)
	 
	 	•	 	Total Number RSUs in award: 100 (50% of total units)
	 
	 	•	 	2011 ANI is $[**] (150% payout)
	 
	 	•	 	2011 PPG Adjusted Revenue is $[**] (50% payout)

PSU Calculation:

(100 PSUs) multiplied by (40% ANI weight) multiplied by (150% ANI Payout Level)

Plus

(100 PSUs) multiplied by (60% Revenue weight) multiplied by (50% Revenue Payout Level)

Equals

90 PSUs converted to RSUs for vesting

Vesting Schedule:

	 	•	 	First vesting event: March 10, 2012

	 	•	 	PSUs vesting: 30 (one third of 90 PSUs)
	 
	 	•	 	RSUs vesting: 33 (one third of 100 RSUs granted)

	 	•	 	Second vesting event: March 10, 2013

	 	•	 	PSUs vesting: 30 (one third of 90 PSUs)
	 
	 	•	 	RSUs vesting: 33 (one third of 100 RSUs granted)

	 	•	 	Third and Final vesting event: March 10, 2014

	 	•	 	PSUs vesting: 30 (one third of 90 PSUs)
	 
	 	•	 	RSUs vesting: 34 (one third of 100 RSUs granted)

2

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