Document:

exv10w91

 

Exhibit 10.91

February 24, 2006

PRIVATE & CONFIDENTIAL

Laurent C. Lutz, Esq.

Employment
Letter and Terms and Conditions of Employment 
Full-Time,
Salaried General Counsel and Managing Director

Dear Laurent:

On behalf of BearingPoint, Inc. (the “Company”), by this letter (the “Employment Letter”), I
am pleased to offer you the position of General Counsel and Managing
Director of the Company in our Chicago office, effective February 27, 2006 (the “Effective Date”).
Your annualized salary will be $500,000, paid semi-monthly, subject to standard withholdings and
deductions. You will also be eligible to participate in the Company’s 2000 Long-Term Incentive
Plan, or any successor program (the “LTIP”) and be eligible for future compensation adjustments,
but in no event will your annualized salary be decreased below $500,000 unless the decrease is part
of a general reduction applicable to executive level personnel. You will also be subject to the
terms and conditions of any managing director incentive compensation plan that has been approved by
the Compensation Committee of the Company’s Board of Directors. You will report directly to the
Chief Executive Officer (the “CEO”) of the Company and your performance will be reviewed by the CEO
at least annually. You will have such duties and responsibilities as are commensurate with your
position. Your employment shall be “at-will.” Your employment may be terminated by the Company at
any time and for any or no reason. Your employment may be terminated by you with three months’
prior notice, as provided in your Managing Director Agreement.

Equity. Effective on the first business day after the earlier of (i) the date the Company ceases
for any reason to be a reporting company under the Securities Exchange Act of 1934 (the “Exchange
Act”) or (ii) the date that an effective Form S-8 is filed or is on file that covers the shares of
common stock of the Company issuable under the restricted stock units to be granted to you (the
“RSU Grant Date”), you shall receive an award of the number of restricted stock units that results
from dividing $1,750,000 minus the amount of Cash Award Payments (as defined below), if any, made
to you prior to the RSU Grant Date by the “Fair Market Value” (as such term is defined in the
Restricted Stock Unit Agreement attached hereto) of one share of the Company’s common stock on the
RSU Grant Date and rounding up the result to the nearest number of whole shares (the “Restricted
Stock Units”). Subject to accelerated vesting as provided herein and subject to appropriate
modification of the vesting schedule as set forth in Exhibit A based

 

 

Laurent C. Lutz, Esq.

February 24, 2006

Page 2

on the Company’s payment of any Cash Award Payments described below, 60% of the Restricted
Stock Units shall become vested on June 30, 2006 (the “First RSU Vesting Date”) and the remaining
40% will vest ratably (in 10% installments) beginning on
December 31, 2007 and each year thereafter, so that 100% of the Restricted Stock Units shall
be vested on December 31, 2010 (each date on which a portion of the Restricted Stock Units becomes
vested, a “Vesting Date”).

In the event that the Company is a reporting company under the Exchange Act and an effective Form
S-8 has not been filed on or prior to the date(s) set forth below, the Company shall, in lieu of
the granting, vesting and settlement of the Restricted Stock Units in accordance with the
Restricted Stock Unit Agreement on the applicable date(s), make a payment to you in cash of the
following amount(s) (the “Cash Award Payments”) on the date(s) set forth opposite such amount (the
“Award Payment Dates”) to the extent that you would have been vested in the corresponding
Restricted Stock Units:

	 	 	 
	Cash Award Payment	 	Award Payment Dates
	$525,000
	 	July 1, 2006
	$525,000
	 	June 30, 2007
	$175,000
	 	December 31, 2007 and on each December

31st until and including December 31, 2010

On the RSU Grant Date, you will receive a Restricted Stock Unit Agreement substantially in the form
attached hereto that details the various terms of the grant of the Restricted Stock Units,
including terms and conditions related to the settlement of the Restricted Stock Units, and
requires your signature of acceptance; provided, the vesting and settlement provisions of the
Restricted Stock Unit Agreement in the form attached hereto shall be modified to the extent
necessary to reflect any Cash Award Payments made prior to the RSU Grant Date, in a manner
consistent with Exhibit A.

All unvested Restricted Stock Units (and, if Restricted Stock Units have not been granted, the Cash
Award Payments) will immediately vest upon the occurrence of a Change in Control of the Company, as
such term is defined in the LTIP on the date hereof, provided that, except as set forth in Section
3(h) of your Special Termination Agreement with the Company dated February 24, 2006 (the “Special
Termination Agreement”), you are employed on the date that the Change in Control occurs; provided
however, in the event that the Company has not granted Restricted Stock Units to you in accordance
with the terms hereof by the date of such Change in Control of the Company, and if such Change in
Control is also an event described in Section 409A(a)(2)(A)(v) of the Internal Revenue Code of
1986, as amended, you shall receive the following: (i) 75% of the difference between $1,750,000 and
the amount of Cash Award Payments made to you prior to the Change in Control of the Company, which
shall be in the form of cash and securities in the same proportion as the restricted stock units of
Company’s Chief Executive Officer settle in connection with such Change in Control and (ii) 25% of
the

 

 

Laurent C. Lutz,
Esq.
 February 24, 2006

Page 3

difference between $1,750,000 and the amount of Cash Award Payments made to you prior to the Change
in Control of the Company, which shall be paid to you in cash.

On a termination of your employment by the Company without Cause or by you for Good Reason, the
portion of the Restricted Stock Units scheduled to vest on the next Vesting Date following your
termination shall vest on the date of your termination; provided, however, in the event the Company
has not granted Restricted Stock Units to you in accordance with the terms hereof by the date of
any such termination, the Company shall pay you the Cash Award Payment scheduled to be paid to you
on the next Award Payment Date (or, in the case of any such termination prior to July 1, 2007, the
next two Award Payment Dates) following the date of your termination.

You are also eligible to receive additional annual grants of stock options, and/or other equity
awards on at least the same basis as other executives of the Company.

Forfeiture of Cash Award Payments.

          a. If you receive any Cash Award Payments and you:

               i. breach any covenant concerning confidentiality or intellectual property or concerning
noncompetition or nonsolicitation of clients, prospective clients or personnel of the Company and
its Affiliates to which you are or may become a party in the future;

               ii. fail (A) to complete on a timely basis all current and future training relating to
the Company’s policies and procedures, including financial reporting and timekeeping training, as
communicated in writing to you, (B) to consistently follow all Company policies and procedures and
to “Confirm” (as defined in Section 4(d) of the Restricted Stock Unit Agreement) that the employees
you supervise are following such Company policies and procedures; provided that the foregoing
provision shall apply only after you have completed an initial detailed audit of the Company’s
Legal Department, the scope of which audit shall be reasonably satisfactory to the Company’s Board
of Directors (or a Committee thereof), or (C) to participate in the Company’s variable compensation
program; or

               iii. are terminated for “Cause;”

then, in addition to and without in any way limiting any remedies under any of the covenants
described above under this heading “Forfeiture of Cash Award Payments” or
otherwise:

                    (A) any unvested Cash Award Payments (i.e. Cash Award Payments for which the Award
Payment Date has not elapsed) shall be forfeited automatically on the date you commit such breach
as is specified in clause (i) above, you fail to act as specified in clause (ii) above or you are
terminated for “Cause;” and

 

 

Laurent C. Lutz,
Esq.
 February 24, 2006

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                    (B) in the event of a breach described in subsection (a)(i)
under this heading “Forfeiture of Cash Award Payments”, you shall pay the Company, within five
business days of your receipt of a written demand therefor, an amount in cash equal to the
aggregate of all Cash Award Payments you received prior to the date of your breach of such
covenant; and

                    (C) in the event of a breach described in subsection (a)(ii)
of this heading “Forfeiture of Cash Award Payments” or if you are terminated for Cause other than
for a breach referenced in subsection (a)(i) of this heading “Forfeiture of Cash Award Payments”,
you shall pay the Company, within five business days of your receipt of a written demand therefor,
an amount in cash equal to 50% of the aggregate of all Cash Award Payments you received prior to
the date of the breach described in subsection (a)(ii) under this heading “Forfeiture of Cash Award
Payments” or the date you are terminated for Cause other than for a breach referenced in subsection
(a)(i) of this heading “Forfeiture of Cash Award Payments”; and

                    (D) you shall pay to the Company any direct damages in
excess of the amounts paid to the Company under clauses (B) or (C) above or under Section
4(a)(B) or (C) of the Restricted Stock Unit Agreement, if applicable.

               b. You agree that by executing this Agreement, you authorize the Company and its
Affiliates to deduct any amount or amounts owed by you pursuant to this heading “Forfeiture of Cash
Award Payments” from any amounts payable by the Company or any Affiliate to you, including, without
limitation, any amount payable to you as salary, wages, vacation pay or bonus. This right of setoff
shall not be an exclusive remedy, and the Company’s or an Affiliate’s election not to exercise this
right of setoff with respect to any amount payable to you shall not constitute a waiver of this
right of setoff with respect to any other amount payable to you or any other remedy.

Annual Bonus. You will be eligible to receive an annual bonus with a target amount equal to 100% of
your annual base salary (prorated for 2006) (the “Target Bonus”) upon achievement of reasonable
pre-established performance goals. Subject to the sections below titled “Severance” and
“Termination by the Company without Cause or by you with Good Reason,” your annual bonus may be
paid in cash or any other form in which (and at such time as) annual bonuses are paid to the Chief
Executive Officer, the Chief Financial Officer, the Chief Operating Officer and the Principal
Accounting Officer, which shall be no later than the end of the calendar year following the year in
respect of which such bonus is payable. Any such payment shall be subject to standard withholdings
and deductions.

Sign-On Bonus. On the Effective Date of your employment, the Company will make a cash lump sum
payment in the amount of Nine Hundred Thousand Dollars ($900,000), less standard withholdings and
deductions (the “Sign-On Bonus”) to you by wire transfer

of immediately available funds to the account designated by you in writing. The Sign-On Bonus shall
be repaid to the Company within 30 days following termination of your employment by the Company for
Cause or by you for any reason (other than (i) by you with Good Reason, (ii) by you under Section
3(a) of the Special Termination Agreement,

 

 

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(iii) upon your Disability (as defined in Restricted Stock Unit Agreement) or (iv) upon your death)
prior to the first anniversary of the Effective Date.

Retention Bonus. Provided that you remain employed on the payment dates specified below, you will
receive a cash lump sum payment in the amount of $375,000 on the first anniversary of the Effective
Date and a cash lump sum payment in the amount of $375,000 on the second anniversary of the
Effective Date (together, the “Retention Bonus”). Notwithstanding the foregoing, all or any portion
of the Retention Bonus remaining unpaid will be paid to you within 5 days of any
management-approved Change in Control that occurs while you are still employed.

Benefits/Long-Term Incentives. You will be entitled to participate in all employee benefit
(including long-term incentives), fringe and perquisite plans, practices, programs policies and
arrangements generally provided to executives of the Company at a level commensurate with your
position.

Personal Days/Holidays. You will be entitled to 25 annual personal days, accrued monthly, to use
for vacation, illness or other personal absences. These personal days are in addition to eight
Company-designated holidays. As a full-time employee, you will also be eligible to participate in
our Personal Benefits Program.

Business Expenses. The Company will reimburse you for the travel, entertainment and other
business expenses incurred by you in the performance of your duties in accordance with the
Company’s policies applicable to senior executives as in effect from time to
time.

Severance. Upon termination of your employment, the Company will pay you: (i) any earned but unpaid
base salary through the date of termination and any earned but unpaid annual bonus for any
preceding year, provided, however, that your employment terminates after the payment date for the
annual bonus, (ii) any unpaid accrued personal days or unreimbursed business expenses, (iii) in the
circumstances specified below in the section titled “Termination by the Company without Cause or by
you with Good Reason” the payments specified in that section, and (iv) any other amounts due under
any of the Company’s benefit plans. Payment of the amounts specified in subsection (iii) above
shall be conditioned upon your execution of a full and binding unilateral Release of all claims
arising from or associated with your employment with the Company, a form of which is attached
hereto (the “Release Agreement”). Severance shall be paid without duty to mitigate.

Termination by the Company without Cause or by you with Good Reason. Upon your termination of
employment by the Company without Cause or by you with Good Reason, the Company will pay you a lump
sum cash amount equal to the sum of (i) your annual base salary (or, solely in the case of your
termination of employment with Good Reason other than pursuant to clause (iv) of the definition of
Good Reason, one and one half times your annual base salary) and (ii) your then current Target
Bonus. The lump
 

 

 

Laurent C. Lutz, Esq.

February 24, 2006

Page 6

sum cash
payment shall be made within 30 days of the date of receipt by the Company of your fully
executed Release Agreement as specified in the “Severance” section above assuming that you have not
revoked the Release Agreement. The Company will also pay your premiums under the Consolidated
Omnibus Budget Reconciliation Act of 1985, as amended, on your behalf for 18 months after
termination of your employment without Cause or with Good Reason.

Special Termination Agreement. You shall be entitled to receive the payments and other benefits
specified in your Special Termination Agreement, a copy of which is attached, and while eligible to
receive such payments and other benefits you shall not be eligible to receive any payment or
benefits under the above sections titled “Severance” and “Termination by the Company without Cause
or by you with Good Reason.”

Indemnification and Employee Representations. The Company will indemnify you to the fullest extent
permitted by law and the Company’s Articles of Incorporation as
in effect as of the Effective Date (regardless of any subsequent changes to such Articles) with
respect to your activities on behalf of the Company.

It is the policy and practice of the Company to reasonably ensure that the Company and all new
employees honor the terms of any reasonable post-employment restrictions contained in agreements
with prior employers of such new employees. Solely to assist the Company in completing its review,
you affirmatively warrant and represent to the Company that: (1) in your good faith opinion, the
duties associated with your prior positions over the past five years have consisted exclusively of
the delivery of services and the rendering of legal advice to your corporate employer in connection
with the various corporate compliance and finance matters of your employer, and you have neither
called upon, met with, or made presentations to clients or prospective clients in connection with
the provision of consulting services to them by your employer, other than incidental interaction
with such clients or prospective clients or providing such clients or prospective clients with
information relating to the corporate structure, financial condition or engagement performance
support alternatives of your employer in connection with your duties as Associate General Counsel
and (2) you have previously disclosed to the Company all documentation associated with prior
employers which may have the effect of restricting your post-employment activities.

Furthermore, you will never be asked to share, utilize or disclose in any way the proprietary or
confidential information of a prior employer as part of your duties on behalf of the Company. The
parties acknowledge that you will not be directly engaged in the provision of “BearingPoint
Services” (as such term is defined in your Managing Directors Agreement) to clients of the Company.

If you undertake activity on behalf of the Company that is challenged by a prior employer as being
in violation of any such agreement, the Company will indemnify you for any claims, losses, costs or
expenses that such previous employer may assert against you based on such agreement, including,
without limitation, any claim that a previous

 

 

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employer may assert to recover any amounts paid or equity granted to you and for any amounts you
are required to forfeit or to pay to any previous employer. You will promptly notify the CEO in
writing upon being made aware of any such claim, arbitration or litigation, and you shall
immediately tender the defense to the Company, which shall have full authority to negotiate, settle
or defend any such action in its sole discretion; provided, however, that the Company’s settlement
of any action for an amount in excess of the Indemnification Cap Amount shall be subject to your
approval; provided, further, that the Company receives a full and complete release of you from your
former employer in connection with any such settlement. The Company agrees that the law firm of
Skadden, Arps, Slate, Meagher & Flom LLP or, if such firm is unable to represent you, such other
nationally recognized firm as is reasonably acceptable to you and the Company, will represent you
in connection with any such action, and the Company further agrees to directly pay all costs and
expenses of such legal counsel, which costs and expenses shall not otherwise reduce the
Indemnification Cap Amount. The aggregate amount the Company shall pay to provide indemnity under
this section to reimburse you for (i) amounts you are required to forfeit or to pay to any previous
employer, including as damages, and (ii) equity granted to you by a prior employer that you are
required to forfeit or return, shall not, in the aggregate with respect to clauses (i) and (ii),
exceed $1,250,000 (the “Indemnification Cap Amount”), and such reimbursement by the Company shall
be paid by the Company in cash within 30 days after such forfeiture or reimbursement occurs as a
result of a final, nonappealable court order, at the written direction of the Company, or as a
result of the Company deciding not to contest such forfeiture, payment or return. Furthermore, your
annualized salary will become payable as of the Effective Date, regardless of any legal actions by
your current employer that result in a judgment that prohibits you from commencing work on the
Effective Date or continuing to work after the Effective Date.

You will be covered under the Company’s D & O liability insurance on the same basis as other senior
level executives of the Company.

The Company’s obligation to indemnify you under this heading “Indemnification and Employee
Representations” shall survive any termination of this Agreement.

Legal Fees. The Company will pay your reasonable legal fees in connection with the negotiation
and drafting of the documents associated with the commencement of your employment with the
Company in an amount not to exceed $45,000.

Gross-up.

     (a) If, after the application of Paragraph 7 of the section below titled
“Miscellaneous,” it is determined that any payment, benefit or distribution (or any combination
thereof) by the Company, or by any trust established by the Company for the benefit of its
employees, to or for your benefit (whether payable pursuant to the terms of this Employment Letter,
the Restricted Stock Unit Agreement, the Special Termination Agreement or otherwise (a “Payment”))
would be subject to any one or more of the

 

 

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February 24, 2006

Page 8

surtax imposed by Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), or
any successor provision, (“Section 409A”), or to any interest or penalties with respect to such
surtax (such Section 409A surtax, together with interest and penalties thereon, hereinafter
collectively referred to as the “Excise Tax”), you shall be entitled to receive an additional
payment (a “Gross-up Payment”) in an amount such that after payment by you of all taxes, including,
without limitation, any income taxes and any Excise Tax imposed upon the Gross-up Payment, you
shall retain an amount of the Gross-up Payment equal to the Excise Tax imposed upon the Payment.
The intent of this section is that after paying your federal, state and local income taxes and any
payroll taxes, you will be in the same position as if you were not subject to the Excise Tax and
did not receive the extra payments pursuant to this section.

     (b) Subject to the provisions of subsection (c), all determinations required to
be made under this section entitled “Gross Up”, including whether and when a Gross-up
Payment is required and the amount of such Gross-up Payment and the assumptions to be
utilized in arriving at such determination, shall be made by such nationally recognized
certified public accounting firm or law firm as may be designated by the Company (the
“Firm”). All fees and expenses of the Firm shall be borne solely by the Company. Any
Gross-up Payment, as determined pursuant to this section entitled “Gross Up”, shall be
paid by the Company to you within five days after the receipt of the Firm’s
determination. If the Firm determines that no Excise Tax is payable by you, it shall so
indicate to you in writing. Except as provided in this section entitled “Gross Up”, the
determination by the Firm shall be binding upon the Company and you.

     (c) You shall notify the Company in writing of any claim by the Internal
Revenue Service that, if successful, would require the payment by the Company of a
Gross-up Payment. Such notification shall be given no later than 10 business days after
you is informed in writing of such claim and shall apprise the Company of the nature of
the claim and the date of requested payment. You shall not pay the claim prior to the
expiration of the 30-day period following the date on which it gives notice to the
Company. If the Company notifies you in writing prior to the expiration of the period
that it desires to contest such claim, you shall:

     (1) give the Company any information reasonably requested by the Company
relating to such claim;

     (2) take such action in connection with contesting such claim as the Company
shall reasonably request in writing from time to time, including, without limitation,
accepting legal representation with respect to such claim by an attorney reasonably
selected by the Company;

     (3) cooperate with the Company in good faith in order to effectively contest
such claim; and

 

 

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February 24, 2006

Page 9

     (4) permit the Company to participate in any proceedings relating to such claim.

Without limitation on the foregoing provisions of this subsection (c), the Company shall control
all proceedings taken in connection with such contest and, at its sole option, may pursue or forego
any and all administrative appeals, proceedings, hearings and conferences with the taxing authority
in respect of such claim and may, at its sole option, either direct you to pay the tax claimed and
sue for a refund or contest the claim in any permissible manner, and you agrees to prosecute such
contest to a determination before any administrative tribunal, in a court of initial jurisdiction
and in one or more appellate courts as the Company shall direct, provided, however, that the
Company shall bear and pay directly all costs and expenses (including additional interest and
penalties) incurred in connection with such contest and shall indemnify and hold you harmless, on
an after-tax basis, for any Excise Tax or income tax (including interest and penalties with respect
thereto) imposed as a result of the contest; and provided further, that if the Company directs you
to pay any claim and sue for a refund, the Company shall advance the amount of the payment to you,
on an interest-free basis, and shall indemnify and hold you harmless, on an after-tax basis, from
any Excise Tax or income tax (including interest or penalties with respect thereto) imposed with
respect to the advance or with respect to any imputed income with respect to the advance.

     (d) If the Company exhausts its remedies pursuant to subsection (c) and you
thereafter are required to make a payment of any Excise Tax, the Firm shall determine the
amount of the Gross-up Payment required, and such payment shall be promptly paid by
the Company to or for the benefit of you.

     (e) If, after the receipt by you of an amount advanced by the Company
pursuant to subsection (c), you become entitled to receive any refund with respect to such
claim, you shall promptly pay to the Company the amount of such refund (together with
any interest paid or credited thereon after taxes applicable thereto). If, after the receipt
by you of an amount advanced by the Company pursuant to subsection (c), a determination
is made that you are not entitled to any refund with respect to such claim, and the
Company does not notify you in writing of its intent to contest such denial of refund
within 30 days after such determination, then such advance shall be forgiven and shall
not be required to be repaid and the amount of such advance shall offset, to the extent
thereof, the amount of the Gross-up Payment required to be paid.

Definitions. Solely for purposes of this Employment Letter and your Managing Director Agreement,
the following definitions apply:

	 	1.	 	Notwithstanding any of the provisions of your Managing Director Agreement,
“Cause” shall mean the occurrence, failure to cause the occurrence or failure to cure
after the occurrence (when a cure is permitted), as the case may be, of any of the
following circumstances after your receipt of written notification from the CEO which
includes a detailed description of the claimed

 

 

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Esq.
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Page 10

	 	 	 	circumstance: (i) your embezzlement, misappropriation of corporate funds , or your
material acts of dishonesty; (ii) your commission or conviction of any felony or of any
misdemeanor involving moral turpitude, or entry of a plea of guilty or nolo contendere
to any felony or misdemeanor involving moral turpitude; (iii) your engagement, without
a reasonable belief that your action was in the best interests of the Company, in any
activity that could harm the business or reputation of the Company in a material
manner; (iv) your willful failure to adhere to the Company’s material corporate codes,
policies or procedures that have been communicated to you in writing; (v) your material
breach of any provision of the Managing Director Agreement (provided, however, the
definition of “Cause” in the Managing Director Agreement shall be overridden by the
definition of “Cause” set forth herein) or this Employment Letter; or (vi) your
violation of any statutory or common law duty or obligation to the Company, including,
without limitation, the duty of loyalty, provided, however, that in the case of
subsections (iii), (iv), (v) and (vi), the Company shall provide you with the
opportunity to cure any Cause event during the 30-day period after your receipt of
written notice describing the Cause event, provided, however, that a Cause event shall
be considered to be cured only if all adverse consequences of the Cause event have been
remedied to the reasonable satisfaction of the Company.
	 
	 	2.	 	Except as otherwise provided herein, “Change in Control” shall have the
meaning specified in your Special Termination Agreement with the Company.
	 
	 	3.	 	“Good Reason” shall mean the occurrence or failure to cause the occurrence,
as the case may be, without your express written consent, of any of the following
circumstances: (i) your required relocation to a principal office outside the Chicago,
Illinois metropolitan area, (ii) the Company’s failure to pay any amounts that it is
required to pay or provide the defense it is required to provide pursuant to the
section above entitled “Indemnification and Employee Representations” in connection
with actions filed against you by your prior employer, (iii) the Company’s material
failure to honor any provisions of this Employment Letter, the Restricted Stock
Agreement, the Special Termination Agreement or the Managing Director Agreement,
providing for the payment of compensation to you, (iv) the termination, expiration or
lapse of the Director and Officer insurance that the Company maintains for the benefit
of its officers and directors (the “D&O Insurance”), unless, within 75 days of such
termination, expiration or lapse if such termination, expiration or lapse occurs on or
before the first anniversary date of this Agreement or within 45 days of such
termination, expiration or lapse if such termination, expiration or lapse occurs after
the first anniversary date of this Agreement, the Company renews or otherwise replaces
the D&O Insurance with coverage under a policy or policies with limits of liability
which are not less than 75% of the limits of liability under the D&O Insurance as in
effect as of the Effective Date and the terms and conditions under such

 

 

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Esq.
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	 	 	 	D&O Insurance are not changed from the D&O Insurance in effect as of the Effective Date
in a manner that has a material adverse effect on the coverages and protections
afforded to the officers and directors, provided that the Company shall not be afforded
the foregoing 75-day or 45-day cure period, as the case may be, if it declines to renew
or voluntarily terminates the D&O Insurance at any time, or (v) the failure of the
Company to include you as a named insured under the D&O Insurance to the same extent as
any other senior officer of the Company and such failure continues for fifteen days;
provided that in the case of subclauses (ii) and (iii), an event giving rise to “Good
Reason” shall not be deemed to have occurred unless the Company has failed to cure the
circumstances giving rise to such event within 30 days following your notice to the CEO
of the occurrence of such event.

Other Considerations.

There are a number of other important items we wish to cover in this Employment Letter. They are:

	 	•	 	Contributory benefits (such as medical, dental, supplemental life insurance, long-
term disability and optional accidental death and dismemberment insurance) are
effective the first day of the calendar month following the Effective Date, unless
you are hired on the first day of the month, in which case they will be effective
immediately. All other non-contributory benefits (such as business travel accident
insurance, short-term disability and personal days) are effective upon the
Effective Date.
	 
	 	•	 	Please read this Employment Letter and the accompanying Managing Director
Agreement and exhibits thereto carefully. Signing these documents is a condition
of employment. As noted therein, employment with the Company is not for a
specific term and may be terminated (i) by you, upon three months’ notice as
specified in your Managing Director Agreement or (ii) by the Company at any
time, for any or no reason, with or without Cause.
	 
	 	•	 	In compliance with the Immigration Reform and Control Act, federal law requires
employers to verify work authorization upon hire. We have provided you with
information that describes these requirements and the documents you need to
bring on your first day of work.
	 
	 	•	 	In compliance with the Fair Credit Reporting Act, employment with the Company
is contingent upon satisfactory completion of the Company’s employment
screening process. This includes a public source background inquiry and receipt
of satisfactory information regarding your employment history. You will be
provided with, and be required to execute, a Disclosure and Authorization for
Release of Information form authorizing the Company to compile a background
report. If the Company finds that you have made any misrepresentation or is

 

 

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February 24, 2006

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	 	 	 	dissatisfied with the results of any review of your background, the Company may withdraw
any offer of employment or terminate your employment without obligation whatsoever on the
part of the Company except payment to you for any services rendered.

Miscellaneous.

	 	1.	 	Notwithstanding any provisions of the Managing Director Agreement, the
Company and you hereby agree as follows:
	 
	 	•	 	You have provided the Company with copies of all agreements with your prior
employers that contain certain purported post employment restrictions.
	 
	 	•	 	Notwithstanding Section 7 of the Managing Director Agreement, except as
otherwise determined by a court or arbitrator, as applicable, each party shall be
responsible for all of its own costs (including, without limitation, attorneys’ fees
and court costs) incurred in enforcing any agreement against the other party.
	 
	 	•	 	The Company hereby represents and warrants that the equity awards described
herein, this Employment Letter, the Restricted Stock Unit Agreement, the Special
Termination Agreement, and the Managing Director Agreement authorized by the
Compensation Committee and the Board of Directors.
	 
	 	2.	 	This Employment Letter can be amended only by a writing signed by both you
and the Company. This Employment Letter shall be governed by and construed
in accordance with the internal, domestic laws of the Commonwealth of Virginia.
	 
	 	3.	 	In the event of any conflict between the provisions of this Employment Letter, the
provisions of your Managing Director Agreement and the provisions of the
Restricted Stock Agreement, the terms and provisions in this Employment Letter
shall control.
	 
	 	4.	 	This Letter Agreement is assignable by the Company only to a successor (whether
by merger, consolidation, purchase or otherwise) to all or substantially all of the
stock, assets or business of the Company, and the Company will require any such
successor, by written agreement in form and substance reasonably satisfactory to
you, to expressly assume and agree to perform this Employment Letter in the
same manner and to the same extent that the Company would be required to
perform it if no such assumption had taken place, provided, however, that no such
written agreement shall be required if the transaction results in the successor
becoming legally required to fulfill the obligations of the Company under this
Employment Letter, whether by operation of law or otherwise. Except as
expressly provided herein, you may not sell, transfer, assign, or pledge any of
your rights or interests under this Employment Letter, provided that any amounts
due hereunder shall, upon your death, be paid to your estate unless you have
designated a beneficiary therefore in accordance with any applicable plan.

 

 

Laurent C. Lutz, Esq.

February 24, 2006

Page 13

	5.	 	For the purpose of this Employment Letter, notices and all other communications
provided for in this Agreement shall be in writing and shall be deemed to have
been duly given when delivered personally or by overnight service or delivered or
mailed by United States certified or registered mail, return receipt requested,
postage prepaid, addressed to the Company at its executive office or to you at the
address on the records of the Company (provided that all notices to the Company
shall be directed to the attention of the CEO) or to such other address as either
party may have furnished to the other in writing in accordance herewith, except
that notice of change of address shall be effective only upon receipt.
	 
	6.	 	If any provision of this Employment Letter or any portion thereof is declared
invalid, illegal, or incapable of being enforced by any court of competent
jurisdiction, the remainder of such provisions and all of the remaining provisions
of this Agreement shall continue in full force and effect. Failure to insist upon
strict compliance with any of the terms, covenants, or conditions of this
Employment Letter shall not be deemed a waiver of such term, covenant, or
condition, nor shall any waiver or relinquishment of, or failure to insist upon strict
compliance with, any right or power hereunder at any one or more times be
deemed a waiver or relinquishment of such right or power at any other time or
times. This Employment Letter may be executed in several counterparts, each of
which shall be deemed to be an original but all of which together will constitute
one and the same instrument.
	 
	7.	 	It is intended that this Employment Letter will comply with Section 409A and the
Agreement shall be interpreted in a manner consistent with such intent. If any
provision of this Employment Letter (or of any award of compensation, including
deferred compensation or benefits) would cause you to incur any additional tax or
interest under Section 409 A or any regulations or Treasury guidance promulgated
thereunder, the Company shall, after consulting with and receiving your approval
(which shall not be unreasonably withheld), reform such provision; provided that
the Company agrees to maintain, to the maximum extent practicable, the original
intent and economic benefit you of the applicable provision without violating the
provisions of Section 409A; provided, further, in no event shall you be required to
defer the date on which you are entitled to receive any payment or benefit
hereunder for a period in excess of six months.
	 
	8.	 	The Company agrees not to make any public announcement of the
commencement of your employment with the Company until the Effective Date,
unless otherwise mutually agreed in writing and provided you have approved the
form of the public announcement.

The items in this Employment Letter, the Restricted Stock Unit Agreement, your Managing Director
Agreement and exhibits thereto, your Special Termination Agreement and the other items referred to
above represent the Company’s entire offer of employment to you. Any contrary representations that
may have been made to you at any time are superseded by this Employment Letter. By signing below,
you accept this offer of

 

 

Laurent C. Lutz, Esq.

February 24, 2006

Page 14

employment in accordance with the terms and conditions of employment specified in this Employment
Letter. This offer of employment will remain open through February 24, 2006.

[The
remainder of this page intentionally left blank]

 

 

Laurent C. Lutz, Esq.

February 24, 2006

Page 15

Laurent, we are excited about having you join us. To inform us of your decision, please sign and
return this Employment Letter, your Managing Director Agreement and your Special Termination
Agreement.

Should you have any questions, please contact me at (703) 747-6400.

Very truly yours,

Harry L. You

Chairman and Chief Executive Officer

BearingPoint, Inc.

	 	 	 	 	 
	 

	 	ACCEPTED:	 	 
	 
	 	 	 	 
	 

	 	 

Laurent C. Lutz
	 	 

 

 

EXHIBIT
A

	 	 	 	 	 	 	 	 	 	 	 
	 	 	Percentage of Restricted Stock Units to Become Vested on Date Specified
	RSU Grant Date	 	RSU Grant Date	 	12/31/07	 	12/31/08	 	12/31/09	 	12/31/10
	Before 7/2/06
	 	60%	 	10%	 	10%	 	10%	 	10%
	7/2/06-6/30/07
	 	42.86%	 	14.29%	 	14.29%	 	14.29%	 	14.29%
	7/1/07-12/31/07
	 	N/A	 	25%	 	25%	 	25%	 	25%
	1/1/08-12/31/08
	 	N/A	 	N/A	 	33%	 	33%	 	33%
	1/1/09-12/31/09
	 	N/A	 	N/A	 	N/A	 	50%	 	50%
	1/1/10-12/31/10
	 	N/A	 	N/A	 	N/A	 	N/A	 	100%exv10w92

 

Exhibit 10.92

MANAGING DIRECTOR AGREEMENT

This Agreement (“Agreement”) is between BearingPoint, Inc., (“BearingPoint”) and
Laurent Lutz (“You” and all similar references) as of February 24, 2006 (the “Effective Date”):

1. Employment. You accept employment on the terms of this Agreement from the
Effective Date until the end of your employment with BearingPoint in accordance with Section 6. By
signing this Agreement, you agree to: (a) devote your professional time and effort to
BearingPoint’s business and to refrain from professional practice other than on account of or for
the benefit of BearingPoint; (b) perform any and all work assigned to you by BearingPoint
faithfully and to the best of your ability at such times and places as BearingPoint designates; (c)
abide by all policies of BearingPoint, current and future, including the Equal Employment
Opportunity policy attached as Exhibit A, and the Anti-Harassment policy attached as Exhibit B,
(d) abide by the Confidentiality and Intellectual Property Agreement attached as Exhibit C, and (e)
abide by the terms of the Consent Form, concerning personal data, attached as Exhibit D. The
parties hereto confirm that they believe you are not currently bound by any agreement that could
prohibit or restrict you from being employed by BearingPoint to perform any of your duties that are
contemplated to be performed under this Agreement.

2. Compensation and Benefits. As of the Effective Date, BearingPoint will pay you a
base salary, less required and authorized withholding and deductions, payable in installments in
accordance with BearingPoint’s normal payroll practices. From time to time, BearingPoint may adjust
your salary and other compensation in its discretion. During your employment, you will be eligible
to participate in any employee compensation or benefit plans (including group medical and 401(k)),
incentive award programs, and stock option plans, any applicable employee stock purchase plan and
to receive other fringe benefits that BearingPoint may decide to make generally available to
employees in your position. BearingPoint may amend or discontinue any of its plans, programs,
policies and procedures at any time for any or no reason with or without notice.

You agree that in order to receive any stock options, you will be required to enter into a
separate stock option agreement which will provide (among other things) for the termination of your
stock options and a payment to BearingPoint or its designee of some or all of your gain if you
violate Sections 1(d), 3, 6(b), or Exhibit C.

3. Covenants. In consideration of your employment and eligibility for stock
options, restricted stock units and other equity rights, you agree to the following obligations
which are reasonably designed to protect BearingPoint’s legitimate business interests without
unreasonably restricting your ability to earn a living after leaving BearingPoint. The wishes or
preferences of a Client or Prospective Client (defined below) are not relevant to or admissible in
any dispute under Sections 3 or 4:

 

 

(a) While employed with BearingPoint and until 2 years after your termination or
resignation, you cannot enter a relationship or venture to provide BearingPoint Services anywhere
in the world for the benefit of an entity other than BearingPoint. A relationship or venture is
defined as an association with (i) another management group member of BearingPoint (or other
comparable individual), or (ii) any individual who was a management group member of BearingPoint
(or other comparable individual) within 12 months before your termination or resignation or 12
months before you seek to perform BearingPoint Services with such an individual, whichever is
later.

(b) While employed with BearingPoint and for 2 years after your termination or resignation, you
shall not, directly or indirectly: (i) perform, provide or assist any “Competing Entity” as that
term is defined in Section 5 below, in performing or providing BearingPoint Services for any Client
or Prospective Client; or (ii) solicit or assist any entity in soliciting any Client or Prospective
Client for the purpose of performing or providing any BearingPoint Services. Without limitation
whatsoever to the foregoing, you expressly acknowledge and agree that for the purpose of providing,
or assisting any Competing Entity in providing, BearingPoint Services, your calling upon, meeting
with, making presentations to, or having business related discussions with, Clients and Prospective
Clients of BearingPoint, within such 2 years of ceasing, for whatever reason, to serve as the
General Counsel of BearingPoint will necessarily constitute a violation of this Subsection 3(b),
immediately entitling BearingPoint to pursue all legal and equitable remedies available.

(c) While employed with BearingPoint and for 2 years after your termination or resignation, you
shall not, directly or indirectly, accept employment or a contract for the provision of services,
with any Competing Entity.

(d) While employed with BearingPoint and for 2 years after your termination or resignation, you
shall not, directly or indirectly solicit, employ or retain (or assist another entity in doing so)
any employee of BearingPoint or any former employee who left BearingPoint within 12 months before
or after your termination or resignation to perform BearingPoint Services with you or any entity or
person associated with you.

4. Remedies. In addition to any other remedies that may be available to BearingPoint for
breach of this Agreement, you agree to the following obligations and accept the following
consequences for breaching Section 3. You agree that BearingPoint will suffer damages as a result
of your breach of Section 3 that are difficult to calculate and that the payments required by
Section 4 are a reasonable forecast of the damages likely to result and are not a penalty of any
kind. In particular, you agree that your total compensation is based on your value to BearingPoint,
and that it reflects your efforts at developing and maintaining client and employee relationships
on behalf of BearingPoint.

(a) If you breach Section 3(b)(i) or (ii), you will, in addition to any payments under Sections
4(b), pay BearingPoint or its designee 50% of the gross fees and other amounts paid or payable
during the 3 years after the breach to you or any other entity associated with you, by any Client
or Prospective Client that was solicited or provided with services

 

 

in violation of Section 3(b)(i) or (ii). These payments will be made in cash within
thirty days after payment by the Client or Prospective Client.

(b) If you breach Section 3(d), you will, in addition to any payments under Sections 4(a), pay
BearingPoint or its designee 100% of the total compensation (including salary and bonus) paid or
payable by BearingPoint to the solicited, employed or retained employee during: (i) the 12 months
before your breach of Section 3(d); or (ii) in the case of a former employee, the 12 months before
the employee left BearingPoint. These payments will be made in not less than quarterly cash
installments over the 24 months following such breach.

5. Certain Definitions.

“Cause” means any of the following conduct by you: (I) embezzlement, misappropriation of
corporate funds, or other material acts of dishonesty; (II) commission or conviction of any felony,
or of any misdemeanor involving moral turpitude, or entry of a plea of guilty or nolo contendere to
any felony or misdemeanor; (III) engagement in any activity that you know or should know could harm
the business or reputation of BearingPoint; (IV) material failure to adhere to BearingPoint’s
corporate codes, policies or procedures; (V) continued failure to meet performance standards as
determined by BearingPoint over two consecutive performance review periods; (VI) a breach or
threatened breach of any provision of Sections 1(d), 3 or Exhibit C, or a material breach of any
other provision of this Agreement if the breach is not cured to BearingPoint’s satisfaction within
a reasonable period after BearingPoint provides you with notice (to your address on BearingPoint’s
records) of the breach (no notice and cure period is required if the breach cannot be cured); or
(VII) violation of any statutory, contractual, or common law duty or obligation to BearingPoint,
including without limitation the duty of loyalty.

“Client” means any entity that is or was a client of BearingPoint (which includes any
subsidiary of BearingPoint throughout this definition) at or within 12 months before the time you
seek to represent a competitive enterprise or entity, or solicit or perform services for such
client and that, within 2 years before your termination or resignation, you (I) performed
BearingPoint Services for or on behalf of BearingPoint, or a related or affiliated entity, or (II)
had contact with, knowledge of, or access to Proprietary Information (as defined in Exhibit C) or
other information concerning the client, in connection with your BearingPoint employment.

“BearingPoint” as used throughout this Agreement includes any successor to, or subsidiary of
BearingPoint with which you become employed or associated (except as more broadly defined elsewhere
in this Agreement).

“BearingPoint Services” means the managed services, business strategy consulting services,
systems integration and information technology operations services, conducted and provided by
BearingPoint.

 

 

“Competing Entity” means any of the following entities, their affiliates,
subsidiaries, and successors: Accenture Ltd., Answerthink, Booz Allen, Cambridge Technology
Partners (CTP), Computer Sciences Corporation (CSC), Deloitte Consulting, EDS, Cap Gemini Ernst &
Young, KPMG LLP, Anteon, SAP, Hewlett-Packard, IBM, Lucent Technologies, Oracle,
PricewaterhouseCoopers, Unisys, US Web, and Ernst & Young.

“Prospective Client” means any entity that is not a Client but with respect to
whom, within 1 year before your termination or resignation, you (I) conducted, prepared or
submitted, or assisted in conducting, preparing or submitting, any proposal or client development
or marketing efforts on behalf of BearingPoint (which includes any subsidiary of BearingPoint
throughout this definition), or a related or affiliated entity, or (II) had contact with, knowledge
of, or access to Proprietary Information or other information concerning the prospective client, in
connection with your BearingPoint employment.

6. Termination and Resignation. (a) Your employment is terminable at will. BearingPoint may
terminate your employment for Cause effective immediately upon written notice (to your address on
BearingPoint’s records). You will be entitled to earned and unpaid base salary and payment for any
earned and unused personal days through the termination date (in the case of performance
deficiencies, you also will receive an additional payment as provided below).

BearingPoint also may terminate your employment other than for Cause or for no reason,
effective upon written notice (to your address on BearingPoint’s records) or any later date
specified in the notice. In this case, you will be entitled to all earned and unpaid base salary
through the termination date. BearingPoint will also pay you for any earned and unused personal
days and an additional amount of severance pay which, when added to your personal days payment (if
any), totals 3 months pay at your then current base salary. All of the payments in this Section
6(a) are less required and authorized withholding and deductions. BearingPoint, in its sole
discretion, may elect any method or manner of payment under this provision, and may also require
you to perform services, as detailed in Section 1 of this Agreement, during the period of time
prior to your specified termination date. In the event you qualify for payment under any of the
provisions of the employment letter entered into by you and BearingPoint on February 24, 2006 (the
“Employment Letter”) as a result of your termination or resignation of employment, you shall not be
eligible to receive any payment under the provisions of this Managing Director Agreement.

(b) You may voluntarily terminate your employment with BearingPoint upon 3 months prior
written notice directed to BearingPoint’s Human Resources Department. Without limiting any other
remedies, if you breach this Section 6(b), you will pay BearingPoint or its designee 25% of the
total compensation (including salary and bonus) paid or payable to you on an annualized basis by
BearingPoint during the fiscal year in which your breach occurs. These payments will be made in not
less than quarterly cash installments over the 24 months following your breach.

 

 

(c) You agree to provide all assistance requested by BearingPoint in transitioning
your duties, responsibilities and client and other BearingPoint relationships to other BearingPoint
personnel, both during your employment and after your termination or resignation.

7. Arbitration. All disputes between you and BearingPoint (which includes any subsidiary of
BearingPoint throughout this Section 7) shall be resolved by arbitration in Virginia. Arbitrable
disputes include without limitation employment and employment termination claims and claims by you
for employment discrimination, harassment, retaliation, wrongful termination, or violations under
Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act, the Americans
With Disabilities Act, the Family and Medical Leave Act, or the Employee Retirement Income Security
Act, under any other federal, state, foreign or local law, regulation, ordinance, executive order,
constitution, or under common law.

Arbitrations shall take place before a panel of three arbitrators which shall consist of one
person selected by each of the two sides to the dispute and the third person jointly selected by
the other two arbitrators. The arbitration panel shall have no authority to modify this Agreement
(except pursuant to Section 12) or to award punitive or exemplary damages. BearingPoint may,
without waiving its right to compel arbitration, and without securing or posting any bond, seek
injunctive or other provisional relief from a court of competent jurisdiction in aid of
arbitration, to prevent any arbitration award from being rendered ineffectual, to protect
BearingPoint’s confidential information or intellectual property or for any other purpose in the
interests of BearingPoint. The courts of Virginia or any court of competent jurisdiction in any
other state will have jurisdiction over any proceeding relating to arbitrations, and may enter
judgment on any arbitration award rendered or grant judicial recognition of the award or an order
of enforcement. You agree to reimburse BearingPoint upon demand for any and all costs (including,
without limitation, attorneys’ fees and court costs) incurred by BearingPoint in enforcing any of
its rights under this Agreement.

8. Survival. Sections 1(d), 1(e), 2 through 14, and Exhibits C and D shall survive any
termination of this Agreement or your employment (including your resignation).

9. Entire Agreement. This Agreement is the entire agreement between you and BearingPoint
regarding these matters and supersedes any verbal and written agreements on such matters. In the
event of a conflict between the main body of this Agreement and the Exhibits, the main body of the
Agreement shall control. This Agreement may be modified only by written agreement. All Section
headings are for convenience only and do not modify or restrict any of this Agreement’s terms. In
the event of a conflict between the provisions of this Managing Director Agreement and the
provisions of the Employment Letter accepted by you and which resulted in your employment with
BearingPoint, the terms of the Employment Letter shall control.

10. Choice of Law/Conflicts. This Agreement shall be governed by the laws of the Commonwealth
of Virginia. You and BearingPoint consent to the jurisdiction and venue

 

 

of any state or federal court in the State of Virginia and agree that any permitted
lawsuit may be brought to such courts or other court of competent jurisdiction. Each party hereby
waives, releases and agrees not to assert, and agrees to cause its affiliates to waive, release and
not assert, any rights such party or its affiliates may have under any foreign law or regulation
that would be inconsistent with the terms of this Agreement as governed by Virginia law.

11. Waiver. Any party’s waiver of any other party’s breach of any provision of this Agreement
shall not waive any other right or any future breaches of the same or any other provision.

12. Severability. If any provision of this Agreement is held invalid or unenforceable for any
reason, the invalidity shall not nullify the validity of the remaining provisions of this
Agreement. If any provision of this Agreement is determined by a court or arbitration panel to be
overly broad in duration, geographical coverage or scope, or unenforceable for any other reason,
such provision will be narrowed so that it will be enforced as much as permitted by law.

13. Assignment and Beneficiaries. This Agreement only benefits and is binding on the parties
and their respective affiliates, successors and permitted assigns provided that you may not assign
your rights or duties under this Agreement without the express prior written consent with the other
parties. BearingPoint may assign any rights or duties that it has, in whole or in part, to other
affiliated or subsidiary entities without your consent.

14. Counterparts. For convenience of the parties, this Agreement may be executed in one or
more counterparts, each of which shall be deemed an original for all purposes.

The parties state that they have read, understood and agree to be bound by this Agreement and
that they have had the opportunity to seek the advice of legal counsel before signing it and have
either sought such counsel or have voluntarily decided not to do so:

For BearingPoint, Inc.:

Harry L. You

Chief Executive Officer

Laurent Lutz: ___________________________

 

 

EXHIBIT A

Equal Employment Opportunity

It is the policy of BearingPoint (“BearingPoint”) to provide equal employment
opportunity for all applicants and employees. BearingPoint does not unlawfully discriminate on the
basis of race, color, religion, sex, national origin, age, disability, Vietnam veteran status, or
any other legally protected classification. BearingPoint also makes reasonable accommodations for
disabled employees. An employee who believes he or she has a disability and requires an
accommodation should inform his/her Human Resources Consultant so that the employee’s request can
be evaluated. BearingPoint prohibits the harassment of any individual and further prohibits the
harassment of any individual based on any of the aforementioned legally protected classifications.
Unlawful discrimination or harassment shall not be tolerated by BearingPoint.

This policy applies to all areas of employment including, but not limited to, recruitment,
recruitment advertising and/or other communications media, hiring, rates of pay and other
compensation, benefits, overtime, promotions, transfers, demotions, training, layoffs, or
terminations, recalls, disciplinary actions and all other terms, conditions, or privileges of
employment.

BearingPoint, as required by law, will establish a written affirmative program to strive for
best utilization of minorities, the disabled, women, and veterans throughout our workforce. The
results will be reviewed no less than annually and adjusted appropriately to meet stated goals. The
coordinator of this program is Natalie McCleaf, Managing Director of Global Human Resources.

The coordinator will be responsible for ensuring the creation of the program with the
inclusion of its multiple requirements, the development of an audit procedure to measure the
effectiveness of the program, and the facilitation of the annual status presentation to the
executive management group.

Each employee is required to abide by this policy and assist with its enforcement. Violation
of this policy will result in disciplinary action, up to and including termination of employment.
If an employee believes that he/she has been the unlawfully discriminated against in an employment
matter, please direct your concerns to your managing director or to Claudia Boykin, the Equal
Employment Opportunity coordinator for BearingPoint. A prompt and thorough investigation shall be
conducted and a determination made as to the appropriate management response. Full cooperation by
each employee asked to assist during an investigation is required, and no reprisals shall result
from the reporting, or assisting in the investigation of, concerns related to this policy. Concerns
or complaints of any retaliation should be directed to the Managing Director of Global Human
Resources immediately.

 

 

EXHIBIT B

Anti-Harassment Policy

BearingPoint (“BearingPoint”) prohibits sexual or other unlawful harassment of its
employees, vendors, clients or applicants, whether engaged in by company personnel, clients,
customers, vendors, or others. This policy also prohibits employment actions that are based on an
employee’s submission to or rejection of unwelcome sexual advances or other behavior prohibited by
this policy. This policy applies at BearingPoint facilities and at other locations where our
employees conduct business or socialize, such as client sites, or at company or client sponsored
business and social functions.

Sexual harassment is viewed as a form of employee conduct that undermines the integrity of the
employment relationship. For purposes of this policy, sexual harassment is defined as sexual
behavior that is unwelcome, is personally offensive, and/or creates a hostile, intimidating or
offensive work environment. BearingPoint will not tolerate sexual harassment by anyone -
supervisors, employees, vendors, or clients.

Some examples of sexual harassment are:

• Unwelcome or unwanted sexual advances. This includes patting, pinching, brushing up against,
hugging, cornering, kissing, or any other similar physical contact considered unwelcome by another
individual.

• Requests or demands of sexual favors. This includes subtle or blatant expectations,
pressures, or requests of any type of sexual favor accompanied by an implied or stated promise of
preferential treatment or negative consequences concerning one’s employment.

• Verbal abuse or kidding that is sex-oriented and considered unwelcome by another person.
This includes comments about an individual’s body or appearance (where such comments go beyond a
mere compliment); off-color jokes that are clearly unwanted or considered offensive by others; or
any other tasteless, sex-oriented comments, innuendoes, or offensive actions.

• Any sexually oriented conduct that would unreasonably interfere with another’s work
performance. This includes extending unwanted sexual attention to someone which reduces personal
productivity.

 

 

• Participation in fostering a work environment that is intimidating, hostile, or offensive
because of unwelcome or unwanted sexually oriented conversation, suggestions, requests, demands,
physical contacts, or attention.

• Possession in the workplace or display of sexually suggestive objects or pictures; emails,
internet sites, or other correspondence with sexually suggestive content.

• Tangible employment decisions made because of or influenced by an individual’s compliance
with or refusal to comply with sexual demands.

This policy also expressly prohibits behavior that harasses an employee or applicant on the
basis of his or her race, color, creed, religion, age, gender, national origin, citizenship status,
marital status, sexual orientation, disability, veteran status, or other category protected by
federal, state, or local law. Forms of such harassment can include physical, verbal and nonverbal
behavior that harasses, disrupts, or interferes with an employee’s work performance or in any way
creates or contributes to an intimidating, hostile or offensive work environment. This behavior
includes, by way of example only, epithets, slurs, off-color jokes, threats, or posters, cartoons,
emails, or drawings that are insulting, degrading, derogatory or ridiculing of one based on his or
her protected status.

Behavior prohibited by this policy often can occur without the knowledge of others and what
one may regard as offensive, another may not. For the company to effectively implement this policy,
all persons must respond to and report behavior that violates this policy. Cooperation in
preventing this type of conduct is essential.

If you believe that you have been subjected to inappropriate sexual or other behavior, you
should immediately tell the offender that his or her behavior is offensive and must cease.. In
addition, or instead, if such a direct approach is ineffective or impractical under the
circumstances, you must report such behavior to one of the persons identified below. If you have
reason to believe that another employee of the company has been subjected to or has engaged in
behavior that violates this policy, you should also immediately inform one of the individual’s
identified below.

BearingPoint will investigate, promptly and thoroughly, any such complaint or report of
inappropriate behavior. Complaints and investigations will be handled in a confidential manner
consistent with the need to investigate and take corrective action.

Complaints should be directed to either of the following persons:

Natalie McCleaf

Managing Director, Global Human Resources

703-747-5474

Claudia Boykin

EEO Manager

703-747-3522

 

 

In response to a meritorious complaint, BearingPoint will, as necessary or
appropriate, take disciplinary action against anyone found in violation of this policy, up to and
including termination of employment.

Overall responsibility for the company’s Equal Employment Opportunity (EEO) and sexual
harassment policy has been assigned to Claudia Boykin, BearingPoint’s Employee Relations Manager,
Human Resources. She is responsible for the implementation and enforcement of this policy, and
reports directly to Natalie McCleaf, Managing Director, Global Human Resources.

Every employee may access this confidential system without fear of reprisal. This policy also
prohibits retaliation against anyone who in good faith complains under this policy or participates
in an investigation. Full cooperation by each employee asked to assist during any investigation
pursuant to this policy is required. Complaints of retaliation (actual, threatened or feared) also
should be directed to one of the individuals identified above.

EXHIBIT C

Confidentiality And Intellectual Property Agreement

As a material part of the consideration for my employment by BearingPoint,
(“BearingPoint”) and the salary and other compensation that I shall receive during my employment, I
acknowledge and agree that, by my signature on the document to which this Confidentiality and
Intellectual Property Agreement (“Agreement”) is attached as an exhibit, I also agree to this
Agreement’s terms:

1. (a) I will, both during my work for BearingPoint and thereafter, hold in confidence and not
directly or indirectly reveal, report, publish, disclose or transfer any Proprietary Information
(as defined below) to any person or entity, or utilize any Proprietary Information for any purpose,
except in the course of my work for BearingPoint for BearingPoint’s sole benefit, except as
required by applicable law. In addition, I will not remove, reproduce, summarize or copy any
Proprietary Information except as expressly required by BearingPoint to enable me to perform my
duties. I understand that this Section 1 is effective as of the commencement of my employment with
BearingPoint or, if earlier, the date I acquired knowledge of any Proprietary Information.

(b) I will not, except as required by applicable law, knowingly use for the benefit of, or
disclose to any person employed by, BearingPoint confidential information of any of my former
employers or of any other third party or otherwise knowingly infringe any proprietary right of any
third party. I represent and warrant that no contract, agreement or other obligation between or
among me and any third party will interfere in any manner with my complete performance of my duties
to BearingPoint or with my compliance with the terms and conditions of this Agreement. Without
limiting the foregoing, if I have

 

 

signed an agreement with a previous employer or other entity, relating to
inventions and confidential information, I will expressly advise BearingPoint of same, and if so,
whether I can or cannot furnish BearingPoint with a copy of said agreement.

(c) “Proprietary Information” as used in this Agreement means all information or material
disclosed to or known by me as a consequence of my employment with BearingPoint (which term
includes, for purposes of this entire definition, any affiliate of BearingPoint (“affiliate”
includes without limitation, for purposes of this entire Agreement, subsidiaries and other related
entities of BearingPoint)), including, without limitation, third party information that
BearingPoint treats as confidential and any information disclosed to or developed by me or embodied
in or relating to works for hire. Proprietary Information includes, but is not limited to, the
following types of information and other information of a similar nature (whether or not reduced to
writing): discoveries, ideas, inventions, concepts, software in various states of development and
related documentation, designs, drawings, specifications, techniques, methodologies, models, data,
source code, object code, documentation, diagrams, flow charts, research, development, processes,
training materials, templates, procedures, “know-how,” tools, client identities, client accounts,
web design needs, client advertising needs and history, client reports, client proposals, product
information and reports, accounts, billing methods, pricing, data, sources of supply, business
methods, production or merchandising systems or plans, marketing, sales and business strategies and
plans, finances, operations, and information regarding employees. Notwithstanding the foregoing,
information publicly known that is generally employed by the trade at or after the time I first
learn of such information (other than as a result of my breach of this Agreement), shall not be
deemed part of the Proprietary Information. In no event shall my rolodex and similar address books
if and to the extent they contain only the names and contact information I have personally used
while employed, or acquired prior to employment with BearingPoint, be considered Proprietary
Information, except to the extent such items contain information which would otherwise be deemed
Proprietary Information.

2. (a) All Works (as defined below) shall belong exclusively to BearingPoint whether or not fixed
in a tangible medium of expression. Without limiting the foregoing, to the maximum extent permitted
under applicable law, all Works shall be deemed to be “works made for hire” under the United States
Copyright Act, and BearingPoint shall be deemed to be the author thereof. If and to the extent any
Works are determined not to constitute “works made for hire,” or if any rights in the Works do not
accrue to BearingPoint as a work made for hire, I hereby irrevocably assign and transfer to
BearingPoint to the maximum extent permitted by law all right, title and interest in the Works,
including all copyrights, patents, trade secret rights, and other proprietary rights in or relating
to the Works. Without limiting the foregoing, I hereby irrevocably assign and transfer to
BearingPoint all economic rights to the Works, including the rights to reproduce, manufacture, use,
adapt, modify, publish, distribute, sublicense, publicly perform and communicate, translate, lease,
import and otherwise exploit the Works. I shall have no right to exercise any economic rights to
the Works. Without limiting the foregoing, I will not have the right to and will not reproduce,
adapt, modify, publish, distribute, sublicense, publicly perform or communicate, translate, lease,
import or otherwise exploit

 

 

the Works, except as expressly authorized by BearingPoint. I expressly acknowledge
and agree that I wish to remain anonymous and not to have my name or any pseudonym used in
connection with the Works. I hereby approve any and all modifications, uses, publications and other
exploitation of the Works that BearingPoint or any successor or transferee thereof may elect to
make, and I expressly agree that no such modifications, uses, publications or exploitations will or
may cause harm to my honor or reputation. I agree that no modification, use or publication of the
Works by BearingPoint or any successor or transferee thereof will be deemed to constitute a
distortion or mutilation of the Works. BearingPoint shall have the unrestricted right to transfer
and convey any or all of BearingPoint’s rights in or relating to the Works to any person or entity.

(b) As applicable, this Agreement shall be construed in accordance with the provisions of
Section 2870 of the California Labor Code (the text of which is set forth verbatim at the end of
this Agreement) relating to inventions made by an employee. Accordingly, I understand that this
Agreement is not intended and shall not be interpreted to assign to or invest in BearingPoint any
of my rights in any inventions developed entirely on my own time without using BearingPoint’s
equipment, supplies, facilities, or trade secret information, except for those inventions that
either relate at the time of conception or reduction to practice of the inventions to the business
of BearingPoint or the actual or demonstrably anticipated research or development of BearingPoint,
or result from any work that I performed for BearingPoint.

(c) I will keep and maintain adequate and current written records of all inventions, original
works of authorship, trade secrets or other Works in which rights vest in or are assigned to
BearingPoint hereunder. The records will be in the form of notes, sketches, drawings, and any other
format that may be specified by BearingPoint. The records will be available to and remain the sole
property of BearingPoint at all times.

(d) I will provide any assistance reasonably requested by BearingPoint to obtain United States
or foreign letters patent and copyright registrations covering inventions, original works of
authorship and other Works belonging or assigned hereunder to BearingPoint. I will execute any
transfers of ownership of letters patent or assignments of copyrights or other proprietary rights
transferred or assigned hereunder (including short form assignments intended for recording with the
U.S. Copyright Office, the U.S. Patent and Trademark Office, or any other entity). I understand
that my obligations under this Section shall survive any termination of this Agreement or of my
employment in perpetuity, provided that BearingPoint will compensate me at a reasonable rate for
time actually spent performing such obligations at BearingPoint’s request after such termination.
If BearingPoint is unable for any reason whatsoever, including my mental or physical incapacity, to
secure my signature to apply for or to pursue any application for any United States or foreign
letters patent or copyright registrations or on any document transferring or assigning any patent,
copyright or other proprietary right that I am obligated hereunder to transfer or assign, I hereby
irrevocably designate and appoint BearingPoint and its duly authorized officers and agents as my
agent and attorney in fact, to act for and on my behalf and in my stead to execute and file any
such applications and documents and to do all other lawfully permitted acts to further the
prosecution and

 

 

issuance of letters patent or copyright registrations or transfers or assignments
thereof or of any other proprietary rights with the same legal force and effect as if executed by
me. This appointment is coupled with an interest in and to the inventions, works of authorship,
trade secrets and other Works to which any proprietary rights may apply and shall survive my death
or disability.

(e) “Works” means (i) any inventions, trade secrets, ideas or original works of authorship
that I conceive, develop, discover or make in whole or in part during my employment with
BearingPoint (which term includes, for purposes of this entire definition, any affiliate of
BearingPoint), and that relate to the business of BearingPoint or its actual or demonstrably
anticipated research or development, (ii) any inventions, trade secrets, ideas or original works of
authorship that I conceive, develop, discover or make in whole or in part during or after my
employment with BearingPoint, and which are made through the use of any of BearingPoint’s
equipment, facilities, supplies, trade secrets or time, or which result from any work that I
perform or performed for BearingPoint or, and (iii) any part or aspect of any of the foregoing.

(f) For purposes of Sections 2(a), (b), (c) and (d) of this Agreement, the term BearingPoint
shall mean (i) BearingPoint for any period of time during which I am employed by BearingPoint, and
(ii) any affiliate of BearingPoint for any period of time during which I am employed by such
affiliate.

3. I will return immediately to BearingPoint all property of BearingPoint and its affiliates
(including without limitation all Proprietary Information, documents, notes and other work product)
in my possession or control, including duplicates, when I leave my employment or whenever
BearingPoint may otherwise require that such Proprietary Information and other property be
returned.

4. I will comply, and do all things reasonably necessary to permit BearingPoint to comply,
with the laws and regulations of all governments under which BearingPoint does business, and with
the provisions of contracts between BearingPoint and any such government or its contractors, or
between BearingPoint and any private contractors, that relate to intellectual property or to the
safeguarding of information, including the signing of any confidentiality agreements required in
connection with the performance of duties during my employment with BearingPoint.

5. I understand that this Agreement is not intended to and shall not be construed
to constitute an express or implicit contract for employment for a specific duration of time and
that my employment is and will at all times remain at-will (meaning that either I or BearingPoint
may terminate my employment at any time for any or no reason) unless otherwise agreed in writing
between me and an authorized BearingPoint representative.

6. I understand and agree that the provisions of this Agreement shall remain in full force and
effect in accordance with their terms notwithstanding any termination of my employment with
BearingPoint for any or no reason.

 

 

7. This Agreement constitutes the entire agreement between BearingPoint and me with
respect to the subject matter hereof and supersedes all prior and/or contemporaneous
understandings, agreements or communications, whether oral or written, on such subject matter,
provided that the provisions of any other written agreement between BearingPoint and me shall
remain in full force and effect in accordance with its terms.

8. This Agreement shall be governed by and construed and enforced in accordance with the
internal laws of the State of New York.

9. This Agreement may not be amended or modified except in a written document signed by me and
a duly authorized representative of BearingPoint. The waiver of any right hereunder shall not be
binding unless set forth in a writing signed by the waiving party, and shall not bar the exercise
of any other right or of the same right on any other occasion.

10. This Agreement shall be binding upon and inure to the benefit of me, BearingPoint and its
affiliates, successors and assigns, provided, however, that I understand that I may not assign my
rights or delegate my obligations under this Agreement without the express prior written consent of
BearingPoint. Without limiting the foregoing, the rights of BearingPoint hereunder may be assigned
in whole or in part without my consent to any of BearingPoint’s affiliates or to any other entity
that, whether by merger or otherwise, acquires all or substantially all of the assets, business or
stock of the office or branch in which I work.

11. If any provision of this Agreement is held invalid or unenforceable for any reason, the
invalidity shall not affect the validity of the remaining provisions of this Agreement, and the
parties shall substitute for the invalid provision a valid provision which most closely
approximates the intent and economic effect of the invalid provision.

12. I acknowledge and understand that any breach by me of any of Sections 1, 2, 3 or 4 of this
Agreement will cause BearingPoint and its affiliates to suffer irreparable harm for which damages
are an inadequate remedy and are difficult to calculate. Accordingly, I agree that BearingPoint and
its affiliates will be entitled, without limiting any other available legal or equitable remedies,
to injunctive relief (without the need to post any bond or other security) to enforce the terms of
Sections 1, 2, 3 and 4 and to prevent any breach or threatened breach of any of those Sections.

California Labor Code Section 2870. Employment Agreements; Assignment of Rights

(a) Any provision in an employment agreement which provides that an employee shall assign or
offer to assign any of his or her rights in an invention to his or her employer shall not apply to
an invention that the employee developed entirely on his or her own

 

 

time without using the employer’s equipment, supplies, facilities, or trade secret
information except for those inventions that either:

(1) Relate at the time of conception or reduction to practice of the invention to the
employer’s business or actual or demonstrably anticipated research or development of the employer;
or

(2) Result from work performed by the employee for the employer.

(b) To the extent a provision in an employment agreement purports to require an employee to
assign an invention otherwise excluded from being required to be
assigned under subdivision (a), the provision is against the public policy of this state and is unenforceable.

EXHIBIT D

Consent Form

I acknowledge that BearingPoint and its affiliates, successors and assigns,
(“BearingPoint”) hold or may collect, receive, store, record, hold and process certain personal
information about myself and my dependents, including name, home address, telephone and fax number,
personal email address, date of birth, social security number and/or other employee identification
number, marital status, salary, citizenship, job title, resumes, applications, copies of school,
college and university diplomas, background verification information and other information
including shares of stock or directorship held in BearingPoint, details of all options or any other
entitlement to shares of stock awarded, cancelled, vested, exercised, unvested or outstanding in my
favor (“stock options”), information necessary to process worker compensation and other insurance
claims, and other personal data, including sensitive data (“Personal Data”) which I have
voluntarily disclosed or will voluntarily disclose to BearingPoint in the course of my application
for employment or in the course of my subsequent employment.

I understand and agree that BearingPoint is transferring, may transfer and shall transfer
Personal Data (i) among its affiliates as necessary for the purposes of, and in connection with,
administration and management of my employment relationship with BearingPoint; and (ii) to third
parties assisting BearingPoint in the administration and management of my employment relationship
with BearingPoint, including without limitation to payroll management companies, 401 K and other
pension plan companies, health insurance companies or agencies, stock plan administrators, credit
card companies, background verification providers and others that have entered into vendor program
agreements with BearingPoint for the provision of their services to BearingPoint and its employees.
I also understand and agree that BearingPoint is transferring, may transfer and shall transfer

 

 

Personal Data for purposes of its legitimate business interests, including the
pursuit of business opportunities with clients and potential clients.

I understand that the companies transferring my Personal Data and the recipients of my
Personal Data, both BearingPoint affiliates and third parties, may be located in any country
including any country outside of the United States or my country of origin and/or residence,
including in the European Economic Area.

I hereby consent to the collection, reception, possession, use, processing and transfer by
BearingPoint of my Personal Data, in electronic or any other form, including transborder transfer
of Personal Data, for the purposes and to parties described above.

I understand that I am responsible to, and may, at any time, review certain of my Personal
Data, by accessing BearingPoint’s web page and make any necessary amendments to it to ensure that
my Personal Data is up to date, and that BearingPoint may not be held liable for any damages
incurred by me as a result of BearingPoint use, processing and transfer of inaccurate Personal
Data.

I hereby consent to having modifications to my Personal Data done in electronic format rather
than in writing. If, however, wherever this option is available to me, I choose to send any
requests for modifications of my Personal Data to BearingPoint other than in the electronic format,
I acknowledge and agree that delays can occur in the processing by BearingPoint of this written
request for modification and that additional BearingPoint employees and/or agents may have to
access certain of my Personal Data for that purpose.

I agree to promptly notify BearingPoint in writing of any change in my Personal Data or any
unauthorized use or unauthorized disclosure of my Personal Data.

I understand that I may, at any time, withdraw the consents hereby given to the processing by
BearingPoint and/or its agents of my Personal Data by notifying BearingPoint in writing of such
withdrawal. As a result of my consent withdrawal, in certain cases, I may no longer be eligible for
certain benefits, including employment and/or employment benefits and services currently provided
to me by BearingPoint and/or the third parties selected by BearingPoint to render such services.

I agree to abide by all policies of BearingPoint, including the Protection of Personal Data
Policy as this Policy can be modified from time to time at BearingPoint’s sole discretion.

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