Document:

EX-10.1

 Exhibit 10.1 

AMENDED AND RESTATED EMPLOYMENT AGREEMENT 

This Amended and Restated Employment Agreement (this “Agreement”) made and entered into this 16th day of January, 2019, by
and between Fiserv, Inc., a Wisconsin corporation (the “Company”), and Frank Bisignano (the “Executive”). 

WITNESSETH: 

WHEREAS, the Executive is currently the Chairman and Chief Executive Officer of First Data Corporation, a Delaware Corporation (the
“Target”) pursuant to that certain Employment Agreement, dated as of September 18, 2015, by and between the Target and the Executive (the “Prior Agreement”); 

WHEREAS, the Company and the Target have entered into that certain Agreement and Plan of Merger, dated as of January 16, 2019 (as
amended or modified from time to time, the “Merger Agreement”), pursuant to which, among other things, the Target will become a wholly owned subsidiary of the Company (the “Transaction”); 

WHEREAS, subject to and conditioned upon the occurrence of the “Effective Time” (as defined in the Merger Agreement),
the Executive and the Company desire to amend and restate the Prior Agreement; and 
 WHEREAS, upon and following the Effective Time,
the Company wishes to employ the Executive pursuant to the terms and conditions set forth in this Agreement, and the Executive desires to become so employed. 

NOW THEREFORE, in consideration of the mutual covenants hereinafter set forth, the parties agree that, effective as of the Effective
Time, the Prior Agreement shall be amended and restated in its entirety as follows: 
  

	1.	 Term of Employment. 

1.1    The Executive shall commence employment with the Company at the Effective Time (the “Employment
Date”). 
 1.2    Commencing on the Employment Date, the Company agrees to employ the Executive, and the
Executive agrees to accept such continued employment and serve the Company, in such capacities, with such duties and authority, for such period, at such level of compensation and with such benefits, and upon such other terms and subject to such
other conditions, as are hereinafter set forth. The term of Executive’s employment shall commence on the Employment Date, and end on the second (2nd) anniversary thereof, subject to earlier
termination or further renewal as provided in this Agreement (the “Term of Employment”). 

1.3    Renewal. Executive’s Term of Employment shall automatically renew for subsequent one (1) year
periods, subject to the terms of this Agreement, unless either party gives written notice 90 days or more prior to the expiration of the then existing Term of Employment of Executive’s or the Company’s decision not to renew. A decision by
the Company not to renew other than as a result of Executive’s death or Disability (as defined below), and other than in circumstances which would give rise to a termination for Cause (as defined below), shall be treated as a Termination by the
Company without Cause and so 

 
governed by Paragraph 6.3.5 below. A decision by the Executive not to renew, other than for Good Reason (as defined below), shall be treated as a Voluntary Resignation, and so governed by the
provisions of Paragraph 6.3.4 below. 
 1.4    Effectiveness. The effectiveness of this Agreement is expressly
subject to, and conditioned upon, the occurrence of the Transaction. This Agreement shall automatically terminate and be null and void ab initio if the Merger Agreement is terminated in accordance with its terms, or your employment with the
Target terminates for any reason prior to the Employment Date, and none of the Company, the Executive, nor any other person or entity shall have any liability hereunder if the Effective Time does not occur for any reason. 

 

	2.	 Capacities, Duties and Authority. 

2.1    During the Term of Employment, the Executive shall serve as the Company’s President and Chief Operating
Officer. The Executive shall report directly to the Company’s Chief Executive Officer and shall have such duties, functions, and responsibilities as contemplated by the Company’s by-laws and as the
Chief Executive Officer and the Company’s Board of Directors (the “Board”) shall designate, provided, that such duties, functions, and responsibilities are commensurate with the Executive’s positions of
President and Chief Operating Officer. 
 2.2    The Executive shall serve the Company faithfully, conscientiously, and
to the best of the Executive’s ability and shall promote the interests and reputation of the Company. Unless prevented by sickness or Disability or during a period of vacation or other approved leave of absence, the Executive shall devote
substantially all of the Executive’s time, attention, knowledge, energy, and skills, during normal working hours, and at such other times as the Executive’s duties may reasonably require, to the duties of the Executive’s employment;
provided, however, that it shall not be a breach of this Agreement for the Executive to manage his own private financial investments or to serve on civic or charitable boards, to continue to serve on the corporate boards on which
Executive serves as of the Employment Date or to be a member of the board of directors of other companies which do not compete with the Company, so long as such directorships have been expressly disclosed to, and approved by, the Board, and
provided, further, that all such activities do not materially interfere with the Executive’s performance of his duties hereunder, cause harm or concern to the Company’s operations, profitability or reputation, or otherwise
violate this Agreement. 
 2.3    As of the Employment Date, the Executive shall be appointed as a member of the Board.
Following the Employment Date, the Company shall designate and nominate the Executive for election by the Company’s shareholders to the Board in accordance with Article IX, Section 2(a) of the Company’s
By-Laws, as amended in connection with the Transaction. 
 2.4    The Executive
represents and warrants that he is not a party to, or otherwise bound by, any agreement, covenant, or other restriction that would in any way conflict with or limit his ability to perform his duties hereunder. 

  
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	3.	 Compensation. 

3.1    The Executive shall be paid a base salary at the annual rate of $1,320,000, payable semi-monthly and otherwise in
accordance with the regular payroll practices of the Company. At least annually, during the Term of Employment, the Company’s Compensation Committee shall consider and appraise the contributions of the Executive to the Company, at such time as
the contributions of other senior executives of the Company and adjustments to base compensation are considered or made, and due consideration shall be given to the upward adjustment of the Executive’s annual base salary, which evaluation and
adjustment to base compensation shall be done at such time as the salaries of the other senior executives of the Company are evaluated. During the Term of Employment, Executive’s base salary shall not be decreased. 

3.2    Incentive Compensation. Each year during the Term of Employment, the Executive’s total annual target
compensation, consisting of the Executive’s annual base salary, target annual bonus opportunity, and annual long-term equity awards granted under the Plan (as defined below), shall be targeted between $10,000,000 and $15,000,000 (the
“Total Target Compensation”) in the aggregate for each such year (which Total Target Compensation, for the avoidance of doubt, shall not take into account the Initial Grant, the Prior Awards, or the CIC Payment, each as defined
below); provided, however, in respect of any year during the Term of Employment, in no event shall the Executive be granted annual long-term equity awards with an aggregate grant date fair value of less than (i) $10,000,000 minus (ii) the base
salary paid in respect of such year and any cash bonus paid in respect of such year (in each case, inclusive of any amounts electively deferred by Executive), provided, further that the amount of such minimum grant shall be equitably adjusted
downward to account for any partial years worked (such that the amount in (i) would be $5,000,000 if the Executive were employed by the Company from January 1 to June 30 of a calendar year). Consistent with the foregoing, the Board
(or the Company’s Compensation Committee) shall annually award to the Executive an annual cash incentive bonus opportunity and long-term equity incentive grant at the same time and on consistent terms as such bonuses and grants are awarded to
other similarly situated senior executive officers of the Company. 
 3.3    Equity and Long-Term Grants. The
Executive shall receive from the Company equity and long-term grants as follows: 
 3.3.1    Immediately following the
Employment Date, the Executive shall receive from the Company an initial equity grant (the “Initial Grant”), allocated as follows: (i) the Executive shall receive an initial grant of restricted stock units with a grant date
fair value of $15,000,000, which will vest over a three (3) year period, in equal installments on each of the first three (3) anniversaries of the Employment Date, based solely on the Executive’s continued employment with the Company
on each such vesting date, and (ii) the Executive shall receive an initial grant of performance stock units with a target value of $15,000,000, which will vest based on the achievement of performance goals and the Executive’s continued
employment over the three (3) year period following the Employment Date, with such goals to be established by the Board, consistent with those applicable to other similarly situated senior executive officers of the Company, including the
Company’s Chief Executive Officer; provided, that the senior management team of the Company (including the Executive) shall have an opportunity to make recommendations to the Board regarding applicable performance metrics. The
Initial Grant shall be subject to any acceleration of vesting as provided in this Agreement. 

  
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 3.3.2    The grants set forth in Paragraph 3.3.1 shall be made under the
Company’s Amended and Restated 2007 Omnibus Incentive Plan or any successor plan thereto (the “Plan”) and evidenced by award agreements substantially in the form provided to similarly situated senior executive officers of the
Company. 
 3.3.3    Waiver of Single Trigger Vesting. The Executive hereby waives any accelerated vesting of
outstanding equity and equity-based awards, including stock options and shares of restricted stock, granted under the 2007 Stock Incentive Plan for Key Employees of First Data Corporation and its Affiliates or the First Data Corporation 2015 Omnibus
Incentive Plan (together, the “Prior Awards”) that would have otherwise occurred solely as a result of the consummation of the Transaction. The Prior Awards will be subject to the provisions of Section 1.8 of the Merger
Agreement and continue to vest in accordance with their existing terms and Section 1.8 of the Merger Agreement, subject to (x) the Executive’s continued employment on the applicable vesting dates, (y) any acceleration of vesting
as provided in this Agreement, and (z) the Executive’s waiver described in the foregoing sentence. The Target is an express third-party beneficiary of this Section 3.3.3, entitled to enforce it in accordance with its terms. 

3.3.4    Cash CIC Payment. The Company shall pay to the Executive a
one-time cash change in control payment in an aggregate amount of $9,500,000, payable in a single lump sum on the Employment Date (the “CIC Payment”). 

3.4    The Executive shall be entitled to take annual vacation without loss or diminution of compensation, not exceeding
five (5) weeks, such vacation to be taken at such time or times, and as a whole or in increments, as the Executive shall elect, consistent with the reasonable needs of the Company’s business and such vacation policies as may be established
by the Board. The Executive shall further be entitled to the number of paid holidays, and leaves for illness or temporary disability in accordance with the policies of the Company for its senior executives, as the Company may amend or terminate such
policies from time to time in its sole discretion. 
  

	4.	 Employee Benefit Programs. 

4.1    During the Term of Employment, the Executive shall be eligible to participate in and shall have the benefit of all
the Company’s group medical, dental, and vision plans and programs, group life and disability insurance plans, the Company’s 401(k) plan, and other employee benefit plans and standard benefits as are or may be generally made available to
senior executives of the Company. 
 4.2    The Executive shall be entitled to receive such executive perquisites,
fringe, and other benefits as are provided to senior executives of the Company and their families generally under any of the Company’s plans and/or programs in effect from time to time and such other benefits as are customarily available to
executives of the Company and their families. In addition, the Executive shall be provided with the following perquisites: (i) travel on a private aircraft when the Executive travels on business on behalf of the Company, (ii) reasonable non-exclusive use of the Company’s private aircraft for personal travel for the Executive and his spouse (any income from which shall be imputed to the Executive at

  
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Standard Industry Fare Level rates in accordance with Treasury Regulation Section 1.61-21(g)(5)), (iii) use of a car and driver, and
(iv) financial planning. The Company shall additionally provide the Executive with payments equal to the amount, on an after-tax basis, of any federal, state, or local taxes imposed on the Executive as a
result of receiving the foregoing perquisites, such payments to be made no later than thirty (30) days after the end of the taxable year following the taxable year in which the perquisites to which they relate were received by the Executive.
The Target may purchase a policy or policies prior to the Effective Time (and if so purchased, the Target shall maintain pursuant to its or their terms) to provide Executive with the “Retiree Benefits,” as defined in
Section 9(a)(i)(B) of the Prior Agreement, following a termination of employment for any reason other than for Cause, and continuing until the Executive’s death or the date that the Executive is eligible for reasonably comparable health
insurance from a subsequent employer. 
 4.3    Except as otherwise expressly provided in this Agreement, nothing in
this Section 4 shall be construed to require the Company to establish, maintain, or continue any compensation or benefit plan, program, or arrangement. 

4.4    Except as otherwise expressly provided by their terms, such compensation or benefit plans, programs, or
arrangements are subject to modification or termination by the Company at any time. 
  

	5.	 Change in Control of the Company. 

5.1    Simultaneous with his execution of this Agreement, Executive will execute a Key Executive Employment and Severance
Agreement (the “KEESA”). In the event of a “Change in Control of the Company,” as defined under the KEESA, during the Term of Employment, the Executive shall be entitled to the benefits of the KEESA, provided that if the
benefits under the KEESA are duplicative of benefits provided under this Agreement, the Executive shall receive only the most favorable benefits (determined on a
benefit-by-benefit basis) under the KEESA and this Agreement (it being understood that a benefit that is provided under one agreement and not the other shall be deemed
the “most favorable” for these purposes). 
  

	6.	 Termination of Employment. 

6.1    The Executive’s employment hereunder shall terminate: 

6.1.1    upon the death of the Executive; 

6.1.2    upon the Disability (as defined below) of the Executive, effective upon the giving of a written Notice of
Termination in accordance with Paragraph 6.2 below, if and only if, during the Term of Employment, as a result of the Executive’s disability due to physical or mental illness or injury (regardless of whether such illness or injury is job-related) which qualifies as a disability under the Company’s long term disability plan (“Disability”), the Executive shall have been absent from the Executive’s duties hereunder on a
full-time basis for a period of six consecutive months, and, within thirty days after the Company notifies the Executive in writing that it intends to terminate the Executive’s employment (which notice shall not constitute the Notice of
Termination described in Paragraph 6.2), the Executive shall not have returned to the performance of the Executive’s duties hereunder on a full-time basis; 

  
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 6.1.3    at the option of the Company, and subject to the
Executive’s rights to notice and opportunity to cure as set forth in Paragraph 6.2 below, for Cause, effective on a date specified in the Notice of Termination. For purposes of this Agreement, “Cause” shall mean any of the
following: 
 (a)    the Executive’s dishonesty or similar serious misconduct directly related to the performance
of Executive’s duties and responsibilities hereunder, which results from a willful act or omission and which is materially injurious to the operations, financial condition or business reputation of the Company; 

(b)    the Executive’s conviction of a misdemeanor involving moral turpitude or of a felony; 

(c)    Executive’s drug or alcohol abuse which materially impairs the performance of his duties and responsibilities
as set forth herein; 
 (d)    substantial continuing willful and unreasonable inattention to, neglect of, or refusal by
Executive to perform Executive’s duties and responsibilities under this Agreement; 
 (e)    the Executive’s
willful or intentional material violation of a material provision of the Company’s Code of Conduct, as it may be amended from time to time, or other material Company policies in effect from time to time; or 

(f)    any other willful or intentional material breach or breaches of this Agreement by Executive. 

6.1.4    at the option of the Company, for a reason other than death, Disability or Cause, effective upon the giving of a
Notice of Termination in accordance with Paragraph 6.2 of this Agreement; provided, however that no such termination may occur prior to the Company’s Chief Executive Officer’s consultation with the independent directors of
the Board; 
 6.1.5    at the option of the Executive, and subject to the Company’s rights to notice and
opportunity to cure as set forth in Paragraph 6.2(d) below, for Good Reason. For purposes of this Agreement “Good Reason” shall mean the occurrence at any time of any of the following without the Executive’s prior written
consent: 
 (a)    any breach of this Agreement by the Company, other than an insubstantial and inadvertent failure not
occurring in bad faith that the Company remedies promptly after receipt of notice thereof given by the Executive; 

(b)    any reduction in the Executive’s base salary, percentage of base salary available as incentive compensation or
bonus opportunity; 
 (c)    the removal of the Executive from, or any failure to reelect or reappoint the Executive to,
any of the positions set forth in Paragraph 2.1, except in the event that such removal or failure to reelect or reappoint relates to the termination by the Company of the Executive’s employment for Cause or by reason of Disability; 

  
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 (d)    a good faith determination by the Executive that there has been a
material adverse change, without the Executive’s written consent, in the Executive’s working conditions or status with the Company, including but not limited to (A) a significant change in the nature or scope of the Executive’s
authority, powers, functions, duties or responsibilities as contemplated by Section 2, or (B) a significant reduction in the level of support services, staff, secretarial and other assistance, office space and accoutrements, but in each
case excluding for this purpose an isolated, insubstantial and inadvertent event not occurring in bad faith that the Company remedies within ten (10) days after receipt of notice thereof given by the Executive; 

(e)    the relocation of the Executive’s principal place of employment to a location more than 35 miles from the
greater New York, New York metropolitan area; or 
 (f)    the failure by the Company to obtain an agreement from
any successor to the Company to assume this Agreement. 
 6.1.6    at the option of the Executive, effective thirty
(30) days after the giving of written notice to the Company of the exercise of such option for a reason other than Good Reason as set forth in Paragraph 6.1.5, above (“Voluntary Resignation”); 

6.1.7    at the option of the Executive for any reason, effective ninety (90) days after the giving of written notice
to the Company of the exercise of such option, during the period beginning on the second (2nd) anniversary of the Employment Date and ending six (6) months following such second (2nd) anniversary of the Employment Date (the “Resignation Option”). 

6.2    Termination Notice and Procedure. Any termination by the Company or the Executive shall be communicated by a
written notice of termination (“Notice of Termination”) to the Executive, if such Notice is given by the Company, and to the Company, if such Notice is given by the Executive, all in accordance with the following procedures: 

(a)    if such termination is for Disability, Cause, or Good Reason, the Notice of Termination shall indicate in
reasonable detail the facts and circumstances alleged to provide a basis for such termination. No Notice of Termination for Cause shall be delivered unless the Board has made a good faith determination, after providing the Executive with the
opportunity to appear before the Board and be heard, that the conduct or acts of the Executive specified in the Notice of Termination occurred and constitute Cause (as defined in Paragraph 6.1.3), and such Notice of Termination provides the
Executive with an opportunity to cure such conduct or acts as contemplated by Paragraph 6.2(d), below; 
 (b)    any
Notice of Termination by the Company shall have been approved, prior to the giving thereof to the Executive, by a resolution duly adopted by a majority of the directors of the Company (or any successor corporation) then in office; 

(c)    if the Notice of Termination is given by the Executive for Good Reason, the Executive may cease performing his
duties hereunder, subject to the Company’s opportunity to cure below. If the Notice of Termination is given by the Company for Cause, then the Executive may cease performing his duties hereunder, subject to the Executive’s opportunity to
cure pursuant to Paragraph 6.2(d) below; 

  
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 (d)    the Executive shall have thirty days, or such longer period as
the Company may determine to be appropriate, to cure any conduct or act, if curable, alleged to provide grounds for termination of employment for Cause. The Company shall have thirty days, or such longer period as the Executive may determine to be
appropriate, to cure any conduct or act, if curable, alleged to provide grounds for termination of employment for Good Reason; and 

(e)    the recipient of any Notice of Termination shall personally deliver or mail in accordance with Paragraph 10.6 below
written notice of any dispute relating to such Notice of Termination to the party giving such Notice of Termination within fifteen days after receipt thereof; provided, however, that if the Executive’s conduct or act alleged to
provide grounds for termination by the Company for Cause is curable, then such period shall be thirty days. After the expiration of such period, the contents of the Notice of Termination shall become final and not subject to dispute. 

6.3    Obligations of the Company upon Termination of Employment. 

6.3.1    Death. In the event of the Executive’s death during the Term of Employment, the Term of Employment
shall end as of the date of the Executive’s death and his estate and/or beneficiaries, as the case may be, shall receive the following, as soon as practicable (unless otherwise provided herein) following the date of Executive’s death: 

(a)    (i) all accrued but unpaid base salary for the time period ending with the date of termination;
(ii) reimbursement for any and all monies advanced by Executive for the time period ending with the termination date for all expenses reimbursable by the Company under this Agreement; and (iii) notwithstanding any provision of any bonus or
incentive compensation plan applicable to the Executive, but subject to any irrevocable deferral election then in effect, a lump sum amount, in cash, equal to the amount of any bonus or incentive compensation that has been allocated or awarded to
the Executive for a fiscal year or other measuring period under the plan that ends prior to the date of termination but has not yet been paid (collectively, “Earned Amounts”); 

(b)    such additional benefits, if any, to which the Executive is expressly eligible following the termination of the
Executive’s employment on account of death, as may be provided by the then-existing plans, programs, and/or arrangements of the Company; and 

(c)    full vesting of all equity and long-term grants and awards (including, without limitation, the Initial Grant and
the Prior Awards); provided, that all awards with performance goals or metrics will be deemed achieved at the “target” level (the “Accelerated Equity Vesting”). 

6.3.2    Disability. If the Executive’s employment is terminated due to Disability during the Term of
Employment, either by the Company or by the Executive, the Term of Employment shall end as of the date of the termination of the Executive’s employment (as provided in Paragraph 6.1.2 of this Agreement) and the Executive shall receive the
following, as soon as practicable (unless otherwise provided herein) following the date of termination: 
 (a)    Earned
Amounts; 

  
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 (b)    such additional benefits, if any, to which the Executive is
expressly eligible following the termination of the Executive’s employment on account of Disability, as may be provided by the then-existing plans, programs, and/or arrangements of the Company; and 

(c)    the Accelerated Equity Vesting. 

6.3.3    Cause. If the Company terminates the Executive’s employment for Cause in accordance with the terms
set forth in Paragraph 6.1.3 above, the Term of Employment shall end as of the effective date of termination and the Executive shall receive the following, as soon as practicable (unless otherwise provided herein) following the Executive’s date
of termination: 
 (a)    Earned Amounts; and 

(b)    such additional benefits, if any, to which the Executive is expressly eligible following the termination of the
Executive’s employment for Cause, as may be provided by the then-existing plans, programs, and/or arrangements of the Company. 

6.3.4    Voluntary Resignation. If the Executive terminates his employment by Voluntary Resignation, in accordance
with the terms set forth in Paragraph 6.1.6 above, the Term of Employment shall end as of the effective date of termination; and the Executive shall receive the following, as soon as practicable following the Executive’s date of termination:

 (a)    Earned Amounts; and 

(b)    such additional benefits, if any, to which the Executive is expressly eligible following the termination of the
Executive’s employment by Voluntary Resignation, as may be provided by the then-existing plans, programs, and/or arrangements of the Company. 

6.3.5    Without Cause, With Good Reason or the Resignation Option. If the Executive’s employment is
terminated by the Company (other than for death, Disability, or Cause) in accordance with the terms set forth in Paragraph 6.1.4 above, or is deemed to have been so terminated pursuant to Paragraph 1.3 above, if the Executive terminates his
employment with Good Reason in accordance with the terms set forth in Paragraph 6.1.5 above, or if the Executive terminates his employment pursuant to the Resignation Option in accordance with the terms set forth in Paragraph 6.1.7 above, the Term
of Employment shall end as of the effective date of termination and the Executive shall receive the following as soon as practicable (unless otherwise provided herein) following the Executive’s date of termination: 

(a)    Earned Amounts; 

(b)    subject to the Executive’s execution of a Separation Agreement and Release of all claims related to the
Executive’s employment or the termination thereof, in a 

  
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form substantially similar to that used for similarly situated senior executive officers of the Company, within sixty (60) days following termination (the “Release
Requirement”): (i) a lump sum cash payment in an amount equal to the sum of (x) five and one-half times the Executive’s then current annual base salary, and (y) a prorated portion
of the cash value of the difference of (I) the Total Target Compensation applicable to the calendar year of such termination (which, if the Executive’s Total Target Compensation for an applicable calendar year has not yet been established,
shall be deemed to be $10,000,000 for this purpose), less (II) the base salary paid to the Executive in respect of such calendar year, with such proration based on the number of days in such calendar year that the Executive remained employed;
(ii) the Accelerated Equity Vesting, as well as the right to exercise any outstanding stock options for not less than one (1) year, following the date of termination of his employment, but in no event longer than ten (10) years from
the date of grant, or if earlier, the latest date the option could have been exercised had Executive remained in employment; (iii) reimbursement by the Company to the Executive for any expenses incurred by the Executive for payment of COBRA
premiums or other health insurance premiums for two (2) years following the date of termination of his employment, or until the Executive obtains health care coverage through subsequent employment, whichever is earlier; and 

(c)    such other benefits, if any, to which the Executive is expressly eligible following the termination of the
Executive’s employment by the Company without Cause or by the Executive with Good Reason, as may be provided by the then existing plans, programs, and/or arrangements of the Company (other than any severance payments payable under the terms of
any benefit plan). 
 6.4    Except as expressly provided by Paragraph 6.3, any payment or benefit provided under
Paragraph 6.3 hereof shall be in lieu of any other severance, bonus, or other payments, perquisites, or benefits, including any further accruals or vesting thereof, to which the Executive might then or, in the future, be eligible pursuant to this
Agreement or any statutory or common law claim. In order to preserve the parties’ respective legal rights in the event of a dispute, the Executive acknowledges and agrees that in the event the parties dispute whether the Executive shall be
eligible for a payment hereunder, such payment shall not be deemed to be earned or otherwise vest hereunder until such time as the dispute is determined by a final judgment of a court of competent jurisdiction or otherwise resolved. The foregoing
shall not be deemed to prohibit a court of competent jurisdiction from awarding prejudgment interest under circumstances in which it may deem it appropriate to do so. 

6.5    The Termination Payment shall be paid to the Executive in cash equivalent on the first day of the seventh month
following the month in which the Executive’s Separation from Service occurs (or, if earlier, the date of the Executive’s death), without interest thereon; provided, that, if on the date of the Executive’s Separation from
Service, neither the Company nor any other entity that is considered a “service recipient” with respect to the Executive within the meaning of Code Section 409A has any stock which is publicly traded on an established securities
market (within the meaning of Treasury Regulation Section 1.897-1(m)) or otherwise, then the Termination Payment shall be paid to the Executive in cash equivalent within ten (10) business days after
the Executive’s Separation from Service. 
 For purposes hereof, the term “Separation from Service” shall have the same meaning as ascribed
to such term in the KEESA. 

  
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 With regard to the benefits described in Paragraph 6.3.5(b)(iii), following the end of the COBRA
continuation period, if such benefits are provided under a health plan that is subject to Section 105(h) of the Code, benefits payable under such health plan shall comply with the requirements of Treasury regulation section 1.409A-3(i)(1)(iv) and, if necessary, the Company shall amend such health plan to comply therewith. 
  

	7.	 Acknowledgements; Confidential Information; Competitive Activities;
Non-Solicitation. 

 7.1    The Executive acknowledges and
agrees as follows: 
 7.1.1    The Company is in the business of providing information management solutions to the
financial industry-servicing clients in the United States, and throughout the world. 
 7.1.2    Since the Company and
its subsidiaries (collectively and individually referred to in this Section 7 as the “Fiserv Group Companies”) would suffer irreparable harm if the Executive left the Company’s employ and solicited the business and/or
employees of the Fiserv Group Companies, or otherwise interfered with business relationships of the Fiserv Group Companies, it is reasonable to protect the Fiserv Group Companies against such activities by the Executive for a limited period of time
after the Executive leaves the Company. 
 7.1.3    The covenants contained in Paragraphs 7.2, 7.3, and 7.4 below are
reasonably necessary for the protection of the Fiserv Group Companies and are reasonably limited with respect to the activities they prohibit, their duration, their geographical scope, and their effect on the Executive and the public. The purpose
and effect of the covenants simply are to protect the Fiserv Group Companies for a limited period of time from unfair competition by the Executive. 

7.2    For the purposes of this Agreement, all confidential or proprietary information concerning the business and affairs
of the Fiserv Group Companies, including, without limitation, all trade secrets, know-how and other information generally retained on a confidential basis by the Fiserv Group Companies concerning their
designs, products, methods, know-how, techniques, systems, engineering data, software codes and specifications, formulae, processes, inventions and discoveries, business strategies, sales, marketing and
business plans, acquisition prospects and targets, capital expenditure forecasts or plans, investor initiatives, incentive plans, targets or MBOs, business assessments or evaluations, HR assessments or plans, litigation strategies, approaches or
theories and settlement plans with regard thereto, organization plans, tax strategies, financial models, public financial disclosure discussions, concerns, approaches or related issues, international market assessments and strategies, pricing,
product plans and the identities of, and the nature of the Fiserv Group Companies’ dealings with, their suppliers and customers, whether or not such information shall, in whole or in part, be subject to or capable of being protected by patent,
copyright or trademark laws, shall constitute “Confidential Information.” The Executive acknowledges that he has had and will from time to time have access to and has obtained and will in the future obtain knowledge of certain
Confidential Information, and that improper use or revelation thereof by the Executive, during or after the termination of his employment by the Company, could cause serious injury to the business of the Fiserv Group Companies. Accordingly, the
Executive agrees that, unless otherwise required by law, he will 

  
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forever keep secret and inviolate all Confidential Information which shall have come or shall hereafter come into his possession, and that he will not use the same for his own private benefit, or
directly or indirectly for the benefit of others, and that he will not disclose such Confidential Information to any other person. If the Executive is legally compelled (by deposition, interrogatory, request for documents, subpoena, civil
investigative demand, or similar process) to disclose any of the Confidential Information, he shall provide the Company with prompt prior written notice of such legal requirement, so that the Fiserv Group Companies may seek a protective order or
other appropriate remedy and/or waive compliance with the terms of this Paragraph. In any event, the Executive may furnish only that portion of the Confidential Information which the Executive is advised by legal counsel is required, and he shall
exercise his best efforts to obtain an order or assurance that confidential treatment will be accorded such Confidential Information as is disclosed. Notwithstanding anything contained herein which may be to the contrary, the term “Confidential
Information” does not include any information which at the time of disclosure or thereafter is generally available to and known by the public, other than as a result of a disclosure directly or indirectly by the Executive. 

Notwithstanding anything to the contrary contained herein, nothing in this Agreement shall prohibit the Executive from reporting possible violations of
federal law or regulation to or otherwise cooperating with or providing information requested by any governmental agency or entity, including, but not limited to, the Department of Justice, the Securities and Exchange Commission, the Congress, and
any agency Inspector General, or making other disclosures that are protected under the whistleblower provisions of federal law or regulation. The Executive does not need the prior authorization of the Company to make any such reports or disclosures
and the Executive is not required to notify the Company that the Executive has made such reports or disclosures. 

7.3    In addition to the acknowledgments by the Executive set forth in Paragraph 7.1 above, the Executive acknowledges
that the services provided by him for the Company are a significant factor in the creation of valuable, special and unique assets which are expected to provide the Fiserv Group Companies with a competitive advantage. Accordingly, the Executive
agrees as follows: 
 7.3.1    Commencing on the Employment Date, and thereafter for a period ending twelve
(12) months following Executive’s date of termination, the Executive shall not, directly or indirectly, on his behalf or on behalf of any other individual, association, or entity, as agent or otherwise: 

(a)    contact any of the clients of any of the Fiserv Group Companies for whom Executive directly performed any services
or had any direct business contact for the purpose of soliciting business or inducing such client to acquire any product or service that at any time during the term of this Agreement is provided or under development by the Fiserv Group Companies
from any entity other than the Fiserv Group Companies; 
 (b)    contact any of the clients or prospective clients of
any of the Fiserv Group Companies whose identity or other client specific information the Executive discovered or gained access to as a result of his access to the Fiserv Group Companies’ Confidential Information for the purpose of soliciting
or inducing any of such clients or prospective clients to acquire any product or service that at any time during the term of this Agreement is provided or under development by any of the Fiserv Group Companies from any entity other than the Fiserv
Group Companies; 

  
 12 

 (c)    use the Fiserv Group Companies’ Confidential Information to
solicit, influence, or encourage any clients or potential clients of any of the Fiserv Group Companies to divert or direct their business to the Executive or any other person, association, or entity by or with whom the Executive is employed,
associated, engaged as agent, or otherwise affiliated; or 
 (d)    encourage, induce, or entice any employee of any of
the Fiserv Group Companies with access to or possession of Confidential Information of the Fiserv Group Companies to leave the employment of the Fiserv Group Companies. 

7.3.2    Commencing on the Employment Date, and for a period ending twelve (12) months following Executive’s
date of termination, without the prior written approval of the Company’s Board of Directors, the Executive shall not participate in the management of, be employed by, or own any business enterprise at a location within the United States that
engages in substantial competition with the Company or any of its subsidiaries in the business described in Paragraph 7.1.1 above, where such enterprise’s revenues from any competitive activities amount to 10% or more of such enterprise’s
net revenues and sales for its most recently completed fiscal year; provided, however, that nothing in this Paragraph shall prohibit the Executive from owning stock or other securities of a competitor amounting to less than five
percent of the outstanding capital stock of such competitor; provided, further, that if the Executive’s termination is by the Company without Cause, by the Executive for Good Reason or through the Resignation Option, or because of
the Executive’s Disability, and the Company reasonably believes the Executive is preparing to associate, or has commenced association with a business enterprise that would otherwise be prohibited by this Paragraph 7.3.2, then, the Board shall
consider such association in good faith and such association shall be deemed to be competitive and prohibited by this Paragraph 7.3.2 only if so unanimously determined by the Board. 

7.4    The Executive acknowledges and agrees as follows: 

7.4.1    The Executive agrees to promptly disclose to the Company any and all discoveries, developments, inventions,
products, services, processes, formulas, and improvements thereof (“Inventions”), whether or not patentable, relating to the products, services, or commercial or other endeavors of the Fiserv Group Companies, which the Executive may
invent, discover, develop, or learn in connection with Executive’s employment. The Executive agrees that such inventions are the exclusive and absolute property of the Company and that the Company will be the sole and absolute owner of all
intellectual property rights, including patent and any and all other rights in connection therewith. The Executive agrees to give all reasonable assistance in the preparation and/or execution of any papers the Company may request to reflect such
interest and to secure patent or other protection for such Inventions. 
 7.4.2    The Executive understands that in the
course of employment, the Executive may prepare writings, drawings, diagrams, designs, specifications, manuals, instructions and other materials, and computer code and programs (“Works”). Such Works are “works made for
hire” under United States copyright law and the Company shall be the owner of the Executive’s entire right of authorship in such Works. If such Works are deemed by operation of law not to be “works made for hire,” the Executive
hereby assigns to the Company the Executive’s entire right of authorship, including copyright ownership, in such Works and agrees to execute any document deemed necessary by the Company in connection therewith. 

  
 13 

 7.4.3    The Executive is hereby notified that the immunity provisions
in Section 1833 of title 18 of the United States Code provide that an individual cannot be held criminally or civilly liable under any federal or state trade secret law for any disclosure of a trade secret that is made (1) in confidence to
federal, state or local government officials, either directly or indirectly, or to an attorney, and is solely for the purpose of reporting or investigating a suspected violation of the law, (2) under seal in a complaint or other document filed
in a lawsuit or other proceeding, or (3) to the Executive’s attorney in connection with a lawsuit for retaliation for reporting a suspected violation of law (and the trade secret may be used in the court proceedings for such lawsuit) as
long as any document containing the trade secret is filed under seal and the trade secret is not disclosed except pursuant to court order. 

7.5    In the event of a judicial determination that the Executive has breached his obligations under Paragraphs 7.2, 7.3,
or 7.4, in addition to any damages or other relief otherwise available to the Fiserv Group Companies, the Executive shall be obligated to reimburse the Company for any payments to the Executive under Paragraph 6.3.5(b)(i) and (iii). In addition,
following a judicial determination, the prevailing party shall be entitled to be reimbursed by the non-prevailing party for reasonable legal fees and expenses incurred by the prevailing party in connection
with the judicial proceeding seeking to enforce the provisions of Section 7 hereof. 
 7.6    For the purposes of
this Agreement, the period of restriction of confidentiality or proprietary information and competition is intended to limit disclosure and competition by the Executive to the maximum extent permitted by law. If it shall be finally determined by any
court of competent jurisdiction ruling on this Agreement that the scope or duration of any limitation contained in this Agreement is too extensive to be legally enforceable, then the parties hereby agree that the provisions hereof shall be construed
to be confined to such scope or duration (not greater than that provided for herein) as shall be legally enforceable, and the Executive hereby consents to the enforcement of such limitations as so modified. 

7.7    The Executive acknowledges that any violation by him of the provisions of this Section 7 would cause serious
and irreparable damage to the Fiserv Group Companies. He further acknowledges that it might not be possible to measure such damage in money. Accordingly, the Executive agrees that, in the event of a breach or threatened breach by the Executive of
the provisions of this Section, the Fiserv Group Companies may seek, in addition to any other rights or remedies, including money damages or specific performance, an injunction or restraining order, without the need to post any bond or other
security, prohibiting the Executive from doing or continuing to do any acts constituting such breach or threatened breach. 

7.8    The non-competition,
non-solicitation, confidentiality, and intellectual property covenants in this Section 7 entirely supersede and are in lieu of (and, for the avoidance of doubt, are not in addition to) any non-competition, non-solicitation, confidentiality, intellectual property, or similar covenants or restrictions under the Prior Agreement, or any other agreement entered into
prior to the Employment Date, in each case that run in favor of the Company and its affiliates and by which the Executive is bound (whether or not such other covenants or restrictions purport to survive for a longer period of time or to cover a
greater geographic area than the covenants contained herein). 

  
 14 

	8.	 Reimbursement of Business Expenses. 

During the Term of Employment, subject to and in accordance with the Company’s policies with regard to such matters applicable to the
Executive, the Executive is authorized to incur reasonable business expenses in carrying out his duties and responsibilities under the Agreement, and the Company shall promptly reimburse him for all such properly documented business expenses
incurred in accordance with the Company’s travel and business expense reimbursement policy applicable to the Executive in connection with carrying out the business of the Company. 

 

	9.	 Directors and Officers Liability Coverage, Indemnification. 

Executive shall be entitled to coverage under such directors and officers liability insurance policies maintained from time to time by the
Company for the benefit of its directors and officers. The Company shall indemnify and hold Executive harmless, to the fullest extent permitted by the laws of the State of Wisconsin, from and against all costs, charges, and expenses (including
reasonable attorneys’ fees), and shall, consistent with the laws of the State of Wisconsin, provide for the reimbursement of expenses, incurred or sustained in connection with any action, suit, or proceeding to which the Executive or his legal
representatives may be made a party by reason of the Executive’s being or having been a director, officer, or employee of the Company or any of its affiliates or employee benefit plans. Such reimbursement shall be made promptly (but in no event
later than the end of the calendar year following the year in which the expense was incurred) following Executive’s written request to the Company for reimbursement. The provisions of this Section 9 shall not be deemed exclusive of any
other rights to which the Executive seeking indemnification may have under any by-law, agreement, vote of stockholders or directors, or otherwise. The provisions of this Section 9 shall survive the
termination of this Agreement for any reason. 
  

	10.	 Miscellaneous. 

10.1    This Agreement shall be construed and enforced in accordance with the laws of the State of Wisconsin without
reference to principles of conflict of laws. Any legal suit, action, or proceeding against any party hereto arising out of or relating to this Agreement shall be instituted in a federal or state court in the State of Wisconsin, and each party hereto
waives any objection which it may now or hereafter have to the laying of venue of any such suit, action, or proceeding and each party hereto irrevocably submits to the jurisdiction of any such court in any suit, action, or proceeding. 

10.2    Upon the Employment Date, this Agreement and the KEESA shall incorporate the complete understanding and agreement
between the parties with respect to the subject matter hereof and thereof and supersede any and all other prior or contemporaneous agreements, written or oral, between the Executive and the Company or any predecessor thereof, with respect to such
subject matter; provided, however, that Section 8 of the First Data Corporation Severance/Change In Control Policy (Management Committee Level) as in effect on the date hereof shall continue to apply to this Transaction (but shall
not apply to any subsequent change in control after the Effective Time) but shall only apply with respect to the CIC Payment and the equity awards outstanding immediately prior to the Effective Time (and shall not apply with respect to any equity
awards granted on or after the Effective Time or to any severance payments made after the Effective Time). No provision hereof may be modified or waived except by a written instrument duly executed by the Executive and the Company. 

  
 15 

 10.3    It is intended that any amounts payable under this Agreement and
the Company’s and Executive’s exercise of authority or discretion hereunder shall comply with Section 409A of the Code (including the Treasury regulations and other published guidance relating thereto) so as not to subject Executive
to the payment of any interest or additional tax imposed under Section 409A of the Code. In furtherance of this intent, to the extent that any Treasury regulations, guidance, or changes to Section 409A after the date of this Agreement
would result in the Executive becoming subject to interest and additional tax under Section 409A of the Code, the Company and Executive agree to amend this Agreement in order to bring this Agreement into compliance with Code Section 409A.

 10.4    The Company shall be eligible to deduct and withhold from all compensation payable to the Executive pursuant
to this Agreement all amounts required to be deducted and withheld therefrom pursuant to any present or future law, regulation, or ordinance of the United States of America or any state or local jurisdiction therein or any foreign taxing
jurisdiction. In addition, if prior to the date of payment of the Termination Payment or other deferred compensation payments or benefits hereunder, the Federal Insurance Contributions Act (FICA) tax imposed under Sections 3101, 3121(a), and
3121(v)(2) of the Code, where applicable, becomes due with respect to any payment or benefit to be provided hereunder, the Company may provide for an immediate payment of the amount needed to pay the Executive’s portion of such tax (plus an
amount equal to the taxes that will be due on such amount) and the Executive’s Termination Payment shall be reduced accordingly. 

10.5    Section headings are included in this Agreement for convenience of reference only and shall not affect the
interpretation of the text hereof. 
 10.6    Notices given pursuant to this Agreement shall be in writing and, except
as otherwise provided by Paragraph 6.2 of this Agreement, shall be deemed given when actually received by the Executive or actually received by the Company’s Secretary or any officer of the Company other than the Executive. If mailed, such
notices shall be mailed by United States registered or certified mail, return receipt requested, addressee only, postage prepaid, if to the Company, to Fiserv, Inc., Attention: Secretary, 255 Fiserv Drive, Brookfield, Wisconsin 53045, or if to the
Executive, to the most recent address shown on the records of the Company, or to such other address as the party to be notified shall have theretofore given to the other party in writing. 

10.7    This Agreement may be executed in two or more counterparts, each of which shall constitute an original but all of
which together shall constitute one and the same instrument. 
 10.8    This Agreement may be assigned by the Company
to, and shall inure to the benefit of, any successor to substantially all the assets and business of the Company as a going concern, whether by merger, consolidation, or purchase of substantially all of the assets of the Company or otherwise,
provided, that such successor shall assume the Company’s obligations under this Agreement. 

  
 16 

 10.9    To the extent that the terms of this Agreement conflict with the
terms of any agreement governing any equity award granted to the Executive, this Agreement shall prevail (unless the operative instrument expressly, with specific reference to this Agreement, states otherwise) and, to the extent that the benefits
provided by this Agreement are inconsistent with benefits provided under an equity agreement, the Executive shall receive the more favorable benefit. 

10.10    The Executive shall be eligible to be reimbursed by the Target for the reasonable legal fees and expenses (as
agreed between the Executive and the Target) incurred in connection with negotiating and documenting this Agreement, subject to (x) receiving customary back-up documentation regarding such fees and
expenses, (y) an aggregate cap of $100,000 and (z) the payment being made prior to the Effective Time. 

  
 17 

 IN WITNESS WHEREOF, each of the Company and the Executive has executed this Agreement to
become effective on the Employment Date. 
  

											
	EXECUTIVE	 		 	FISERV, INC.
					
	By:	 	 /s/ Frank Bisignano
	 		 	By:	 	 /s/ Jeffery Yabuki

		 	Frank Bisignano	 		 		 	Name:	 	Jeffery
Yabuki                                        

		 		 		 		 	Title:	 	President and
CEO                                        

					
		 		 		 	Attest:	 	 /s/ Lynn McCreary

		 		 		 		 	Its: CLO

  
 [Signature Page to
Employment Agreement]EX-10.2

 Exhibit 10.2 

KEY EXECUTIVE EMPLOYMENT AND SEVERANCE AGREEMENT 

THIS AGREEMENT, made and entered into as of the 16th day of January, 2019, by and between Fiserv, Inc., a Wisconsin corporation (hereinafter
referred to as the “Company”), and Frank J. Bisignano (hereinafter referred to as the “Executive”). 
 W I T N E S S E
T H 
 WHEREAS, the Executive is currently the Chairman and Chief Executive Officer of First Data Holdings, Inc. (“First
Data”); 
 WHEREAS, the Company and First Data have entered into that certain Agreement and Plan of Merger, dated as of
January 16, 2019 (as amended or modified from time to time, the “Merger Agreement”), pursuant to which, among other things, upon the Effective Time (as defined in the Merger Agreement), First Data will become a wholly owned subsidiary
of the Company (the Company and First Data, hereinafter referred to collectively as the “Employer”); 
 WHEREAS, simultaneously
with his Execution of this Agreement, the Executive will execute an Amended and Restated Employment Agreement with the Company (the “Employment Agreement”) and subject to and conditioned upon the occurrence of the Effective Time, the
Executive shall become the President and Chief Operating Officer of the Company; 
 WHEREAS, the Executive’s services are valuable to
the conduct of the business of the Company and the Company desires to continue to attract and retain dedicated and skilled management employees in a period of industry consolidation, consistent with achieving the best possible value for its
shareholders in any change in control of the Company; 
 WHEREAS, the Company recognizes that circumstances may arise in which a change in
control of the Company occurs, through acquisition or otherwise, thereby causing a potential conflict of interest between the Company’s needs for the Executive to remain focused on the Company’s business and for the necessary continuity in
management prior to and following a change in control, and the Executive’s reasonable personal concerns regarding future employment with the Employer and economic protection in the event of loss of employment as a consequence of a change in
control; 
 WHEREAS, the Company and the Executive are desirous that any proposal for a change in control or acquisition of the Company will
be considered by the Executive objectively and with reference only to the best interests of the Company and its shareholders; 
 WHEREAS,
the Executive will be in a better position to consider the Company’s best interests if the Executive is afforded reasonable economic security, as provided in this Agreement, against altered conditions of employment which could result from any
such change in control or acquisition; 
 WHEREAS, the Executive possesses intimate knowledge of the business and affairs of the Company and
has acquired certain confidential information and data with respect to the Company; and 
 WHEREAS, the Company desires to insure, insofar
as possible, that it will continue to have the benefit of the Executive’s services and to protect its confidential information and goodwill. 

 NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants and agreements
hereinafter set forth, the parties hereto mutually covenant and agree as follows: 
 1.    Definitions. 

(a)    409A Affiliate. The term “409A Affiliate” means each entity that is required to be included in the
Company’s controlled group of corporations within the meaning of Section 414(b) of the Code, or that is under common control with the Company within the meaning of Section 414(c) of the Code; provided, however, that the phrase
“at least 50 percent” shall be used in place of the phrase “at least 80 percent” each place it appears therein or in the regulations thereunder. 

(b)    Accrued Benefits. The term “Accrued Benefits” shall include the following amounts, payable as
described herein: (i) all base salary for the time period ending with the Termination Date; (ii) reimbursement for any and all monies advanced in connection with the Executive’s employment for reasonable and necessary expenses
incurred by the Executive on behalf of the Employer for the time period ending with the Termination Date; (iii) any and all other cash earned through the Termination Date and deferred at the election of the Executive or pursuant to any deferred
compensation plan then in effect; (iv) notwithstanding any provision of any bonus or incentive compensation plan applicable to the Executive, but subject to any irrevocable deferral election then in effect, a lump sum amount, in cash, of any
bonus or incentive compensation that has been allocated or awarded to the Executive for a fiscal year or other measuring period under the plan that ends prior to the Termination Date but has not yet been paid (pursuant to Section 5(f) or
otherwise); and (v) all other payments and benefits to which the Executive (or in the event of the Executive’s death, the Executive’s surviving spouse or other beneficiary) may be entitled on the Termination Date as compensatory
fringe benefits or under the terms of any benefit plan of the Employer, excluding severance payments under any Employer severance policy, practice or agreement in effect on the Termination Date. Payment of Accrued Benefits shall be made promptly in
accordance with the Company’s prevailing practice with respect to clauses (i) and (ii) or, with respect to clauses (iii), (iv) and (v), pursuant to the terms of the benefit plan or practice establishing such benefits. 

(c)    Act. The term “Act” means the Securities Exchange Act of 1934, as amended. 

(d)    Affiliate and Associate. The terms “Affiliate” and “Associate” shall have the respective
meanings ascribed to such terms in Rule 12b-2 of the General Rules and Regulations under the Act. 

(e)    Annual Cash Compensation. The term “Annual Cash Compensation” shall mean the sum of (i) the
Executive’s Annual Base Salary (determined as of the time of the Change in Control of the Company or, if higher, immediately prior to the date the Notice of Termination is given) plus (ii) an amount equal to (A) if the Executive has
been employed by the Company for at least 36 continuous months prior to the Change in Control of the Company, the highest annual incentive bonus the Executive earned with respect to any of the three fiscal years prior to the fiscal year in which the
Change in Control of the Company occurs, or (B) if the Executive has not been employed by the Company for at least 36 continuous months prior to the Change in Control of the Company, the greater of (x) 60% of the Executive’s Annual
Base Salary as of the time of the Change in Control of the Company or (y) the highest annual incentive bonus the Executive earned with respect to any of the two fiscal years prior to the fiscal year in which the Change in Control of the Company
occurs. 
 (f)    Beneficial Owner. A Person shall be deemed to be the “Beneficial Owner” of any
securities: 
 (i)    which such Person or any of such Person’s Affiliates or Associates has the
right to acquire (whether such right is exercisable immediately or only after the passage of time) pursuant to any agreement, arrangement or understanding, or upon the exercise of conversion rights, exchange rights, rights, warrants or options, or
otherwise; provided, however, that a Person shall not be deemed the Beneficial Owner of, or to beneficially own, (A) securities tendered 

 
pursuant to a tender or exchange offer made by or on behalf of such Person or any of such Person’s Affiliates or Associates until such tendered securities are accepted for purchase, or
(B) securities issuable upon exercise of any rights issued pursuant to the terms of any shareholder rights agreement that the Company may adopt at any time before the issuance of such securities; 

(ii)    which such Person or any of such Person’s Affiliates or Associates, directly or indirectly,
has the right to vote or dispose of or has “beneficial ownership” of (as determined pursuant to Rule 13d-3 of the General Rules and Regulations under the Act), including pursuant to any agreement,
arrangement or understanding; provided, however, that a Person shall not be deemed the Beneficial Owner of, or to beneficially own, any security under this clause (ii) as a result of an agreement, arrangement or understanding to vote
such security if the agreement, arrangement or understanding: (A) arises solely from a revocable proxy or consent given to such Person in response to a public proxy or consent solicitation made pursuant to, and in accordance with, the
applicable rules and regulations under the Act and (B) is not also then reportable on a Schedule 13D under the Act (or any comparable or successor report); or 

(iii)    which are beneficially owned, directly or indirectly, by any other Person with which such Person
or any of such Person’s Affiliates or Associates has any agreement, arrangement or understanding for the purpose of acquiring, holding, voting (except pursuant to a revocable proxy as described in clause (ii) above) or disposing of any
voting securities of the Company. 
 (g)    Cause. “Cause” for termination by the Employer of the
Executive’s employment shall be limited to (i) the engaging by the Executive in intentional conduct not taken in good faith that the Company establishes, by clear and convincing evidence, has caused demonstrable and serious financial
injury to the Employer, as evidenced by a determination in a binding and final judgment, order or decree of a court or administrative agency of competent jurisdiction, in effect after exhaustion or lapse of all rights of appeal, in an action, suit
or proceeding, whether civil, criminal, administrative or investigative; (ii) conviction of a felony, as evidenced by binding and final judgment, order or decree of a court of competent jurisdiction, in effect after exhaustion of all rights of
appeal, which substantially impairs the Executive’s ability to perform his duties or responsibilities; or (iii) continuing willful and unreasonable refusal by the Executive to perform the Executive’s duties or responsibilities, unless
significantly changed without the Executive’s consent. 
 (h)    Change in Control of the Company. A
“Change in Control of the Company” shall be deemed to have occurred if an event set forth in any one of the following paragraphs shall have occurred: 

(i)    any Person (other than (A) the Company or any of its subsidiaries, (B) a trustee or other
fiduciary holding securities under any employee benefit plan of the Company or any of its subsidiaries, (C) an underwriter temporarily holding securities pursuant to an offering of such securities or (D) a corporation owned, directly or
indirectly, by the shareholders of the Company in substantially the same proportions as their ownership of stock in the Company (“Excluded Persons”)) is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company
(not including in the securities beneficially owned by such Person any securities acquired directly from the Company or its Affiliates after the date of this Agreement, pursuant to express authorization by the Board that refers to this exception)
representing 20% or more of either the then outstanding shares of common stock of the Company or the combined voting power of the Company’s then outstanding voting securities; or 

(ii)    the following individuals cease for any reason to constitute a majority of the number of directors
of the Company then serving: (A) individuals who, on the date of this 

 
Agreement constituted the Board and (B) any new director (other than a director whose initial assumption of office is in connection with an actual or threatened election contest, including
but not limited to a consent solicitation, relating to the election of directors of the Company) whose appointment or election by the Board or nomination for election by the Company’s shareholders was approved by a vote of at least two-thirds ( 2/3) of the directors then still in office who either were directors on the date of this Agreement, or whose appointment, election or nomination for election was previously so approved (collectively the
“Continuing Directors”); provided, however, that individuals who are appointed to the Board pursuant to or in accordance with the terms of an agreement relating to a merger, consolidation, or share exchange involving the Company (or
any direct or indirect subsidiary of the Company) shall not be Continuing Directors for purposes of this Agreement until after such individuals are first nominated for election by a vote of at least two-thirds
(2/3) of the then Continuing Directors and are thereafter elected as directors by the shareholders of the Company at a meeting of shareholders held following consummation of such merger, consolidation, or share exchange; and, provided further,
that in the event the failure of any such persons appointed to the Board to be Continuing Directors results in a Change in Control of the Company, the subsequent qualification of such persons as Continuing Directors shall not alter the fact that
a Change in Control of the Company occurred; or 
 (iii)    the shareholders of the Company approve a
merger, consolidation or share exchange of the Company with any other corporation or approve the issuance of voting securities of the Company in connection with a merger, consolidation or share exchange of the Company (or any direct or indirect
subsidiary of the Company) pursuant to applicable stock exchange requirements, other than (A) a merger, consolidation or share exchange which would result in the voting securities of the Company outstanding immediately prior to such merger,
consolidation or share exchange continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity or any parent thereof) at least 50% of the combined voting power of the voting securities
of the Company or such surviving entity or any parent thereof outstanding immediately after such merger, consolidation or share exchange, or (B) a merger, consolidation or share exchange effected to implement a recapitalization of the Company
(or similar transaction) in which no Person (other than an Excluded Person) is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company (not including in the securities beneficially owned by such Person any securities
acquired directly from the Company or its Affiliates after the date of this Agreement, pursuant to express authorization by the Board that refers to this exception) representing 20% or more of either the then outstanding shares of common stock of
the Company or the combined voting power of the Company’s then outstanding voting securities; or 

(iv)    the shareholders of the Company approve of a plan of complete liquidation or dissolution of the
Company or an agreement for the sale or disposition by the Company of all or substantially all of the Company’s assets (in one transaction or a series of related transactions within any period of 24 consecutive months), other than a sale or
disposition by the Company of all or substantially all of the Company’s assets to an entity at least 75% of the combined voting power of the voting securities of which are owned by Persons in substantially the same proportions as their
ownership of the Company immediately prior to such sale. 
 Notwithstanding the foregoing, no “Change in Control of the Company” shall be deemed
to have occurred if there is consummated any transaction or series of integrated transactions immediately following which the record holders of the common stock of the Company immediately prior to such transaction or series of transactions continue
to own, directly or indirectly, in the same proportions as their ownership in the Company, an entity that owns all or substantially all of the assets or voting securities of the Company immediately following such transaction or series of
transactions. 

 (i)    Code. The term “Code” means the Internal Revenue
Code of 1986, including any amendments thereto or successor tax codes thereof. Any reference to a particular provision of the Code shall be deemed to include reference to any successor provision thereto. 

(j)    Covered Termination. Subject to Section 2(b), the term “Covered Termination” means any
Termination of Employment during the Employment Period where the Termination Date, or the date Notice of Termination is delivered, is any date prior to the end of the Employment Period. 

(k)    Employment Period. Subject to Section 2(b), the term “Employment Period” means a period
commencing on the date of a Change in Control of the Company, and ending at 11:59 p.m. Central Time on the third anniversary of such date. 

(l)    Good Reason. The Executive shall have “Good Reason” for termination of employment in the event of:

 (i)    any breach of this Agreement by the Employer, including specifically any breach by the Employer
of the agreements contained in Section 3(b), Section 4, Section 5, or Section 6, other than an isolated, insubstantial and inadvertent failure not occurring in bad faith that the Employer remedies promptly after receipt of notice
thereof given by the Executive; 
 (ii)    any reduction in the Executive’s base salary, percentage
of base salary available as incentive compensation or bonus opportunity or benefits, in each case relative to those most favorable to the Executive in effect at any time during the 180-day period prior to the
Change in Control of the Company or, to the extent more favorable to the Executive, those in effect at any time during the Employment Period; 

(iii)    the removal of the Executive from, or any failure to reelect or reappoint the Executive to, any of
the positions held with the Employer on the date of the Change in Control of the Company or any other positions with the Employer to which the Executive shall thereafter be elected, appointed or assigned, except in the event that such removal or
failure to reelect or reappoint relates to the termination by the Employer of the Executive’s employment for Cause or by reason of disability pursuant to Section 12; 

(iv)    a good faith determination by the Executive that there has been a material adverse change, without
the Executive’s written consent, in the Executive’s working conditions or status with the Employer relative to the most favorable working conditions or status in effect during the 180-day period
prior to the Change in Control of the Company, or, to the extent more favorable to the Executive, those in effect at any time during the Employment Period, including but not limited to (A) a significant change in the nature or scope of the
Executive’s authority, powers, functions, duties or responsibilities, or (B) a significant reduction in the level of support services, staff, secretarial and other assistance, office space and accoutrements, but in each case excluding for
this purpose an isolated, insubstantial and inadvertent event not occurring in bad faith that the Employer remedies within ten (10) days after receipt of notice thereof given by the Executive; 

(v)    the relocation of the Executive’s principal place of employment to a location more than 35
miles from the Executive’s principal place of employment on the date 180 days prior to the Change in Control of the Company; 

 (vi)    the Employer requires the Executive to travel on
Employer business 20% in excess of the average number of days per month the Executive was required to travel during the 180-day period prior to the Change in Control of the Company; 

(vii)    failure by the Company to obtain the Agreement referred to in Section 17(a) as provided
therein; or 
 (viii)    any voluntary termination of employment by the Executive where the Notice of
Termination is delivered during the six (6) months following the first six (6) months after the Change in Control of the Company. 

(m)    Person. The term “Person” shall mean any individual, firm, partnership, corporation or other
entity, including any successor (by merger or otherwise) of such entity, or a group of any of the foregoing acting in concert. 

(n)    Prorated Bonus. The term “Prorated Bonus” shall mean an amount equal to the sum of the following
with respect to each contingent bonus or incentive compensation award made to the Executive for all uncompleted periods as of the Termination Date: (i) the value of such award, calculated as if the goals with respect to such award had been attained
(at the target level, if applicable), multiplied by a fraction, the numerator of which is the number of days that have elapsed from the first day of the period to which the award relates to the Termination Date and the denominator of which is the
total number of days in the period to which the award relates (without regard to the Termination Date), reduced by (ii) any amounts previously paid with respect to such award or that will be paid (without regard to this Agreement). 

(o)    Retirement. The term “Retirement” means the cessation of service as an employee of the Company and
its Affiliates for any reason other than death, disability (as provided in Section 12), or termination for Cause, if at the time of such cessation of service either (1) the Executive is age 60 and his age plus years of service for the Company
and its Affiliates is equal to or greater than 70, or (2) the Executive is age 65 or older. 
 (p)    Separation from
Service. For purposes of this Agreement, the term “Separation from Service” means the Executive’s Termination of Employment, or if the Executive continues to provide services following his or her Termination of Employment, such
later date as is considered a separation from service from the Company and its 409A Affiliates within the meaning of Code Section 409A. Specifically, if the Executive continues to provide services to the Company or a 409A Affiliate in a
capacity other than as an employee, such shift in status is not automatically a Separation from Service. 

(q)    Termination of Employment. For purposes of this Agreement, the Executive’s “Termination of
Employment” shall be presumed to occur when the Company and the Executive reasonably anticipate that no further services will be performed by the Executive for the Company and its 409A Affiliates or that the level of bona fide services the
Executive will perform as an employee of the Company and its 409A Affiliates will permanently decrease to no more than 20% of the average level of bona fide services performed by the Executive (whether as an employee or independent contractor) for
the Company and its 409A Affiliates over the immediately preceding 36-month period (or such lesser period of services). Whether the Executive has experienced a Termination of Employment shall be determined by the Employer in good faith and
consistent with Section 409A of the Code. Notwithstanding the foregoing, if the Executive takes a leave of absence for purposes of military leave, sick leave or other bona fide reason, the Executive will not be deemed to have experienced a
Termination of Employment for the first six (6) months of the leave of absence, or if longer, for so long as the Executive’s right to reemployment is provided either by statute or by contract, including this Agreement; 

 
provided that if the leave of absence is due to a medically determinable physical or mental impairment that can be expected to result in death or last for a continuous period of not less
than six (6) months, where such impairment causes the Executive to be unable to perform the duties of his or her position of employment or any substantially similar position of employment, the leave may be extended by the Employer for up to 29
months without causing a Termination of Employment. 
 (r)    Termination Date. Except as otherwise provided in
Section 2(b), Section 10(b), and Section 17(a), the term “Termination Date” means (i) if the Executive’s Termination of Employment is by the Executive’s death, the date of death; (ii) if the
Executive’s Termination of Employment is by reason of Retirement, the date of such retirement; (iii) if the Executive’s Termination of Employment is by reason of disability pursuant to Section 12, the earlier of 30 days after the
Notice of Termination is given or one day prior to the end of the Employment Period; (iv) if the Executive’s Termination of Employment is by the Executive voluntarily (other than for Good Reason), the date the Notice of Termination is
given; and (v) if the Executive’s Termination of Employment is by the Employer (other than by reason of disability pursuant to Section 12) or by the Executive for Good Reason, the earlier of 30 days after the Notice of Termination is
given or one day prior to the end of the Employment Period. Notwithstanding the foregoing, 
 (A)    If
termination is for Cause pursuant to Section 1(g)(iii) and if the Executive has cured the conduct constituting such Cause as described by the Employer in its Notice of Termination within such 30-day or
shorter period, then the Executive’s employment hereunder shall continue as if the Employer had not delivered its Notice of Termination. 

(B)    If the Executive shall in good faith give a Notice of Termination for Good Reason and the Employer
notifies the Executive that a dispute exists concerning the termination within the 15-day period following receipt thereof, then the Executive may elect to continue his or her employment during such dispute
and the Termination Date shall be determined under this paragraph. If the Executive so elects and it is thereafter determined that Good Reason did exist, the Termination Date shall be the earliest of (1) the date on which the dispute is finally
determined, either (x) by mutual written agreement of the parties or (y) in accordance with Section 22, (2) the date of the Executive’s death or (3) one day prior to the end of the Employment Period. If the Executive so
elects and it is thereafter determined that Good Reason did not exist, then the employment of the Executive hereunder shall continue after such determination as if the Executive had not delivered the Notice of Termination asserting Good Reason and
there shall be no Termination Date arising out of such Notice. In either case, this Agreement continues, until the Termination Date, if any, as if the Executive had not delivered the Notice of Termination except that, if it is finally determined
that Good Reason did exist, the Executive shall in no case be denied the benefits described in Section 9 (including a Termination Payment) based on events occurring after the Executive delivered his Notice of Termination. 

(C)    Except as provided in Section 1(q)(B), if the party receiving the Notice of Termination
notifies the other party that a dispute exists concerning the termination within the appropriate period following receipt thereof and it is finally determined that the reason asserted in such Notice of Termination did not exist, then (1) if
such Notice was delivered by the Executive, the Executive will be deemed to have voluntarily terminated his employment and the Termination Date shall be the earlier of the date 15 days after the Notice of Termination is given or one day prior to the
end of the Employment Period and (2) if delivered by the Company, the Company will be deemed to have terminated the Executive other than by reason of death, disability or Cause. 

 2.    Termination or Cancellation Prior to Change in Control.

 (a)    Subject to Section 2(b), the Employer and the Executive shall each retain the right to terminate the
employment of the Executive at any time prior to a Change in Control of the Company. Subject to Section 2(b), in the event the Executive’s employment is terminated prior to a Change in Control of the Company, this Agreement shall be
terminated and cancelled and of no further force and effect, and any and all rights and obligations of the parties hereunder shall cease. 

(b)    Anything in this Agreement to the contrary notwithstanding, if a Change in Control of the Company occurs and if the
Executive’s employment is terminated (other than a termination due to the Executive’s death or as a result of the Executive’s disability) during the period of 180 days prior to the date on which the Change in Control of the Company
occurs, and if it is reasonably demonstrated by the Executive that such termination of employment (i) was at the request of a third party who has taken steps reasonably calculated to effect a Change in Control of the Company or
(ii) otherwise arose in connection with or in anticipation of a Change in Control of the Company, then for all purposes of this Agreement such termination of employment shall be deemed a “Covered Termination,” “Notice of
Termination” shall be deemed to have been given, and the “Employment Period” shall be deemed to have begun on the date of such termination which shall be deemed to be the “Termination Date” and the date of the Change in
Control of the Company for purposes of this Agreement. 
 3.    Employment Period; Vesting of Certain Benefits.

 (a)    If a Change in Control of the Company occurs when the Executive is employed by the Employer, the Employer will
continue thereafter to employ the Executive during the Employment Period, and the Executive will remain in the employ of the Employer in accordance with and subject to the terms and provisions of this Agreement. Any Termination of Employment during
the Employment Period, whether by the Company or the Employer, shall be deemed a termination by the Company for purposes of this Agreement. 

(b)    If a Change in Control of the Company occurs when the Executive is employed by the Employer, (i) the Company
shall cause all restrictions on restricted stock awards made to the Executive prior to the Change in Control of the Company to lapse such that the Executive is fully and immediately vested in the Executive’s restricted stock upon such a Change
in Control of the Company; and (ii) the Company shall cause all stock options granted to the Executive prior to the Change in Control of the Company pursuant to the Company’s stock option plan(s) to be fully and immediately vested upon
such a Change in Control of the Company. 
 4.    Duties. During the Employment Period, the Executive shall, in
the same capacities and positions held by the Executive at the time of the Change in Control of the Company or in such other capacities and positions as may be agreed to by the Employer and the Executive in writing, devote the Executive’s best
efforts and all of the Executive’s business time, attention and skill to the business and affairs of the Employer, as such business and affairs now exist and as they may hereafter be conducted; provided, however, that the Executive shall be
entitled (a) to serve as director of other corporations and (b) to devote time to personal and financial activities, in each case so long as such activities do not materially affect the Executive’s ability to perform the
Executive’s duties hereunder. 

 5.    Compensation. During the Employment Period, the Executive
shall be compensated as follows: 
 (a)    The Executive shall receive, at reasonable intervals (but not less often than
monthly) and in accordance with such standard policies as may be in effect immediately prior to the Change in Control of the Company, an annual base salary in cash equivalent of not less than twelve times the Executive’s highest monthly base
salary for the twelve-month period immediately preceding the month in which the Change in Control of the Company occurs or, if higher, an annual base salary at the rate in effect immediately prior to the Change in Control of the Company (which base
salary shall, unless otherwise agreed in writing by the Executive and subject to any irrevocable deferral election then in effect, include the current receipt by the Executive of any amounts which, prior to the Change in Control of the Company, the
Executive had elected to defer, whether such compensation is deferred under Section 401(k) of the Code or otherwise), subject to adjustment as hereinafter provided in Section 6 (such salary amount as adjusted upward from time to time is
hereafter referred to as the “Annual Base Salary”). 
 (b)    The Executive shall receive fringe benefits at
least equal in value to the highest value of such benefits provided for the Executive at any time during the 180-day period immediately prior to the Change in Control of the Company or, if more favorable to
the Executive, those provided generally at any time during the Employment Period to any executives of the Employer of comparable status and position to the Executive; and shall be reimbursed, at such intervals and in accordance with such standard
policies that are most favorable to the Executive that were in effect at any time during the 180-day period immediately prior to the Change in Control of the Company, for any and all monies advanced in
connection with the Executive’s employment for reasonable and necessary expenses incurred by the Executive on behalf of the Employer, including travel expenses. 

(c)    The Executive and/or the Executive’s family, as the case may be, shall be included, to the extent eligible
thereunder (which eligibility shall not be conditioned on the Executive’s salary grade or on any other requirement which excludes persons of comparable status to the Executive unless such exclusion was in effect for such plan or an equivalent
plan at any time during the 180-day period immediately prior to the Change in Control of the Company), in any and all plans providing benefits for the Employer’s salaried employees in general, including
but not limited to group life insurance, hospitalization, medical, dental, profit sharing and stock bonus plans; provided, that, (i) in no event shall the aggregate level of benefits under such plans in which the Executive is included be
less than the aggregate level of benefits under plans of the Employer of the type referred to in this Section 5(c) in which the Executive was participating at any time during the 180-day period
immediately prior to the Change in Control of the Company and (ii) in no event shall the aggregate level of benefits under such plans be less than the aggregate level of benefits under plans of the type referred to in this Section 5(c)
provided at any time after the Change in Control of the Company to any executive of the Employer of comparable status and position to the Executive. 

(d)    The Executive shall annually be entitled to not less than the amount of paid vacation and not fewer than the
highest number of paid holidays to which the Executive was entitled annually at any time during the 180-day period immediately prior to the Change in Control of the Company or such greater amount of paid
vacation and number of paid holidays as may be made available annually to other executives of the Employer of comparable status and position to the Executive at any time during the Employment Period. 

(e)    The Executive shall be included in all plans providing additional benefits to executives of the Employer of
comparable status and position to the Executive, including but not limited to deferred compensation, split-dollar life insurance, supplemental retirement, stock option, stock appreciation, stock bonus and similar or comparable plans; provided,
that, (i) in no event shall the aggregate level of benefits 

 
under such plans be less than the highest aggregate level of benefits under plans of the Employer of the type referred to in this Section 5(e) in which the Executive was participating at any
time during the 180-day period immediately prior to the Change in Control of the Company; (ii) in no event shall the aggregate level of benefits under such plans be less than the aggregate levels of
benefits under plans of the type referred to in this Section 5(e) provided at any time after the Change in Control of the Company to any executive of the Employer comparable in status and position to the Executive; and (iii) the
Employer’s obligation to include the Executive in bonus or incentive compensation plans shall be determined by Section 5(f). 

(f)    To assure that the Executive will have an opportunity to earn incentive compensation after a Change in Control of
the Company, the Executive shall be included in a bonus plan of the Employer which shall satisfy the standards described below (such plan, the “Bonus Plan”). Bonuses under the Bonus Plan shall be payable with respect to achieving such
financial or other goals reasonably related to the business of the Employer as the Employer shall establish (the “Goals”), all of which Goals shall be attainable, prior to the end of the Employment Period, with approximately the same
degree of probability as the most attainable goals under the Employer’s bonus plan or plans as in effect at any time during the 180-day period immediately prior to the Change in Control of the Company
(whether one or more, the “Company Bonus Plan”) and in view of the Employer’s existing and projected financial and business circumstances applicable at the time. The amount of the bonus (the “Bonus Amount”) that the
Executive is eligible to earn under the Bonus Plan shall be no less than the amount of the Executive’s maximum award provided in such Company Bonus Plan (such bonus amount herein referred to as the “Targeted Bonus”), and in the event
the Goals are not achieved such that the entire Targeted Bonus is not payable, the Bonus Plan shall provide for a payment of a Bonus Amount equal to a portion of the Targeted Bonus reasonably related to that portion of the Goals which were achieved.
Payment of the Bonus Amount shall not be affected by any circumstance occurring subsequent to the end of the Employment Period, including the Executive’s Termination of Employment. 

6.    Annual Compensation Adjustments. During the Employment Period, the Board of Directors of the Company (or an
appropriate committee thereof) will consider and appraise, at least annually, the contributions of the Executive to the Company, and in accordance with the Company’s practice prior to the Change in Control of the Company, due consideration
shall be given to the upward adjustment of the Executive’s Annual Base Salary, at least annually, (a) commensurate with increases generally given to other executives of the Company of comparable status and position to the Executive, and
(b) as the scope of the Company’s operations or the Executive’s duties expand. 
 7.    Termination
For Cause or Without Good Reason. If there is a Covered Termination for Cause or due to the Executive’s voluntarily terminating his employment other than for Good Reason (any such terminations to be subject to the procedures set forth in
Section 13), then the Executive shall be entitled to receive only Accrued Benefits. 
 8.    Termination Giving
Rise to a Termination Payment. If there is a Covered Termination by the Executive for Good Reason, or by the Company other than by reason of (i) death, (ii) disability pursuant to Section 12, or (iii) Cause (any such terminations
to be subject to the procedures set forth in Section 13), then the Executive shall be entitled to receive, and the Company shall promptly pay, Accrued Benefits and, in lieu of further base salary for periods following the Termination Date, as
liquidated damages and additional severance pay and in consideration of the covenant of the Executive set forth in Section 14(a), the Termination Payment and the Prorated Bonus. 

 9.    Payments Upon Termination. 

(a)    Termination Payment. 

(i)    Subject to Section 9(a)(iii), the “Termination Payment” shall be an amount equal to
the Annual Cash Compensation times two (2). 
 (ii)    The Termination Payment and the Prorated Bonus
shall be paid to the Executive in cash equivalent on the first day of the seventh month following the month in which the Executive’s Separation from Service occurs, without interest thereon; provided that, if on the date of the
Executive’s Separation from Service, neither the Company nor any other entity that is considered a “service recipient” with respect to the Executive within the meaning of Code Section 409A has any stock which is publicly traded
on an established securities market (within the meaning of Treasury Regulation Section 1.897-1(m)) or otherwise, then the Termination Payment and the Prorated Bonus shall be paid to the Executive in cash
equivalent within ten (10) business days after the Termination Date, or if the Executive’s Termination Date is pursuant to Section 2(b), within ten (10) business days after the date of the Change in Control of the Company (as
defined without reference to Section 2(b)). Such lump sum payment shall not be reduced by any present value or similar factor, and the Executive shall not be required to mitigate the amount of the Termination Payment and Prorated Bonus by
securing other employment or otherwise, nor will such Termination Payment and Prorated Bonus be reduced by reason of the Executive securing other employment or for any other reason. The Termination Payment and Prorated Bonus shall be in lieu of, and
acceptance by the Executive of the Termination Payment and Prorated Bonus shall constitute the Executive’s release of any rights of the Executive to, any other cash severance payments under any Company severance policy, practice or agreement.

 (iii)    Subject to Section 26 of this Agreement, notwithstanding any other provision of this
Agreement, if any portion of the Termination Payment or any other payment under this Agreement, or under any other agreement with or plan of the Employer (in the aggregate, “Total Payments”), would constitute an “excess parachute
payment,” then the Executive shall have the option to have the Total Payments to be made to the Executive reduced such that the value of the aggregate Total Payments that the Executive is entitled to receive shall be One Dollar ($1) less than
the maximum amount which the Executive may receive without becoming subject to the tax imposed under Section 4999 of the Code. For purposes of this Agreement, the terms “excess parachute payment” and “parachute payments”
shall have the meanings assigned to them in Section 280G of the Code and such “parachute payments” shall be valued as provided therein. Present value for purposes of this Agreement shall be calculated in accordance with
Section 1274(b)(2) of the Code. Within 40 days following a Covered Termination or notice by one party to the other of its belief that there is a payment or benefit due the Executive that will result in an “excess parachute payment” as
defined in Section 280G of the Code, the Executive and the Company, at the Company’s expense, shall obtain the opinion (which need not be unqualified) of nationally recognized tax counsel (“National Tax Counsel”) selected by the
Company’s independent auditors and reasonably acceptable to the Executive (which may be regular outside counsel to the Company), which opinion sets forth (A) the amount of the Base Period Income, (B) the amount and present value of
Total Payments, (C) the amount and present value of any excess parachute payments determined without regard to any reduction of Total Payments pursuant to this Section 9(a)(ii) and (D) the net
after-tax proceeds to the Executive, taking into account the tax imposed under Section 4999 of the Code if (x) the Total Payments were reduced in accordance with the first sentence of this
Section 9(a)(iii) or (y) the Total Payments were not so reduced. As used in this Agreement, the term “Base Period Income” means an amount equal to the Executive’s “annualized includable compensation for the base
period” as 

 
defined in Section 280G(d)(1) of the Code. For purposes of such opinion, the value of any noncash benefits or any deferred payment or benefit shall be determined by the Company’s
independent auditors in accordance with the principles of Section 280G(d)(3) and (4) of the Code, which determination shall be evidenced in a certificate of such auditors addressed to the Company and the Executive. The opinion of National
Tax Counsel shall be addressed to the Company and the Executive and shall be binding upon the Company and the Executive. If such National Tax Counsel opinion determines that there would be an excess parachute payment, then, at the Executive’s
sole discretion, the Termination Payment hereunder or any other payment or benefit determined by such counsel to be includable in Total Payments may be reduced or eliminated as specified by the Executive in writing delivered to the Company within
thirty days of his receipt of such opinion so that under the bases of calculations set forth in such opinion there will be no excess parachute payment. If such National Tax Counsel so requests in connection with the opinion required by this
Section 9(a), the Executive and the Company shall obtain, at the Company’s expense, and the National Tax Counsel may rely on, the advice of a firm of recognized executive compensation consultants as to the reasonableness of any item of
compensation to be received by the Executive solely with respect to its status under Section 280G of the Code and the regulations thereunder. 

(iv)    The Company agrees to bear all costs associated with, and to indemnify and hold harmless, the
National Tax Counsel of and from any and all claims, damages, and expenses resulting from or relating to its determinations pursuant to this Section 9(a), except for claims, damages or expenses resulting from the gross negligence or willful
misconduct of such firm. 
 (b)    Additional Benefits. If there is a Covered Termination and the Executive is
entitled to Accrued Benefits, the Termination Payment and the Prorated Bonus, then the Company shall provide to the Executive the following additional benefits: 

(i)    The Executive shall receive, until the end of the second calendar year following the calendar year
in which the Executive’s Separation from Service occurs, at the expense of the Company, outplacement services, on an individualized basis at a level of service commensurate with the Executive’s status with the Company immediately prior to
the date of the Change in Control of the Company (or, if higher, immediately prior to the Executive’s Termination of Employment), provided by a nationally recognized executive placement firm selected by the Company; provided that the
cost to the Company of such services shall not exceed 10% of the Executive’s Annual Base Salary. 

(ii)    Until the earlier of the end of the Employment Period or such time as the Executive has obtained
new employment and is covered by benefits which in the aggregate are at least equal in value to the following benefits: 

(A)    The Executive shall continue to be covered, at the expense of the Company, by the same or equivalent
hospitalization, medical and dental coverage as was required hereunder with respect to the Executive immediately prior to the date the Notice of Termination is given. If, following the end of the COBRA continuation period, such hospitalization,
medical or dental coverage is provided under a health plan that is subject to Section 105(h) of the Code, then benefits payable under such health plan shall comply with the requirements of Treasury regulation section 1.409A-3(i)(1)(iv) and, if necessary, the Company shall amend such health plan to comply therewith. If, following the end of the COBRA continuation period, the Company’s health plan does not permit continued
coverage by Executive and his covered dependents, then the Company may satisfy its obligations hereunder by purchasing an individual insurance policy on Executive’s and 

 
his covered dependents’ behalf or enrolling Executive and his covered dependents in a state-sponsored high risk health pool if individual insurance is not able to be obtained, all at the
Company’s expense. 
 (B)    If the Executive elects to convert his group life insurance to an
individual policy, then the Company shall pay the Executive’s premiums for such conversion policies. Notwithstanding the foregoing, if the Executive’s Termination Payment is delayed for six (6) months following his Separation from
Service, then during the first six (6) months following the Executive’s Separation from Service, the Executive shall pay the conversion premiums and after the end of such six (6) month period, the Company shall make a cash equivalent
payment to the Executive equal to the aggregate premiums paid by the Executive for such coverage, without interest thereon. 
 If the
Executive is entitled to the Termination Payment pursuant to Section 2(b), then within ten (10) days following the Change in Control of the Company (determined without regard to Section 2(b)), the Company shall reimburse the Executive
for any COBRA premiums the Executive paid for his hospitalization, medical and dental coverage under COBRA from the Executive’s Termination Date through the date of the Change in Control of the Company (determined without regard to
Section 2(b)). 
 (iii)    The Company shall reimburse the Executive for up to $15,000 in the
aggregate of fees and expenses of consultants and/or legal or accounting advisors engaged by the Executive to advise the Executive as to matters relating to the computation of benefits due and payable under this Section 9. 

10.    Death. 

(a)    Except as provided in Section 10(b), in the event of a Covered Termination due to the Executive’s death,
the Executive’s estate, heirs and beneficiaries shall receive all the Executive’s Accrued Benefits through the Termination Date and, no later than 90 days after the Executive’s death, the Prorated Bonus. 

(b)    In the event the Executive dies after a Notice of Termination is given (i) by the Company or (ii) by the
Executive for Good Reason, the Executive’s estate, heirs and beneficiaries shall be entitled to the benefits described in Section 10(a) and, subject to the provisions of this Agreement, to such Termination Payment as the Executive would
have been entitled to had the Executive lived, except that the Termination Payment shall be paid within 90 days following the date of the Executive’s death. For purposes of this Section 10(b), the Termination Date shall be the earlier of
30 days following the giving of the Notice of Termination, subject to extension pursuant to Section 1(m), or one day prior to the end of the Employment Period. 

11.    Retirement. If, during the Employment Period, the Executive and the Employer shall execute an agreement
providing for the early retirement of the Executive from the Employer, or the Executive shall otherwise give notice that he is voluntarily choosing to retire early from the Employer, the Executive shall receive Accrued Benefits through the
Termination Date; provided that if the Executive’s employment is terminated by the Executive for Good Reason or by the Company other than by reason of death, disability or Cause and the Executive also, in connection with such
termination, elects voluntary early retirement, then the Executive shall also be entitled to receive a Termination Payment and the Prorated Bonus pursuant to Section 8. 

 12.    Termination for Disability. If, during the Employment
Period, as a result of the Executive’s disability due to physical or mental illness or injury (regardless of whether such illness or injury is job-related), the Executive shall have been absent from the
Executive’s duties hereunder on a full-time basis for a period of six (6) consecutive months and, within 30 days after the Company notifies the Executive in writing that it intends to terminate the Executive’s employment (which notice
shall not constitute the Notice of Termination contemplated below), the Executive shall not have returned to the performance of the Executive’s duties hereunder on a full-time basis, the Company may terminate the Executive’s employment for
purposes of this Agreement pursuant to a Notice of Termination given in accordance with Section 13. If the Executive’s employment is terminated on account of the Executive’s disability in accordance with this Section, the Executive
shall receive Accrued Benefits through the Termination Date and, no later than 90 days after the Executive’s Separation from Service, the Prorated Bonus, and shall remain eligible for all benefits provided by any long term disability programs
of the Employer in effect at the time of such termination. 
 13.    Termination Notice and Procedure. Any
Covered Termination by the Company or the Executive (other than a termination of the Executive’s employment that is a Covered Termination by virtue of Section 2(b)) shall be communicated by a written notice of termination (“Notice of
Termination”) to the Executive, if such Notice is given by the Company, and to the Company, if such Notice is given by the Executive, all in accordance with the following procedures and those set forth in Section 24: 

(a)    If such termination is for disability, Cause or Good Reason, the Notice of Termination shall indicate in reasonable
detail the facts and circumstances alleged to provide a basis for such termination. 
 (b)    Any Notice of Termination
by the Company shall have been approved, prior to the giving thereof to the Executive, by a resolution duly adopted by a majority of the directors of the Company (or any successor corporation) then in office. 

(c)    If the Notice is given by the Executive for Good Reason, the Executive may cease performing his duties hereunder on
or after the date 15 days after the delivery of Notice of Termination and shall in any event cease employment on the Termination Date. If the Notice is given by the Company, then the Executive may cease performing his duties hereunder on the date of
receipt of the Notice of Termination, subject to the Executive’s rights hereunder. 
 (d)    The Executive shall
have 30 days, or such longer period as the Company may determine to be appropriate, to cure any conduct or act, if curable, alleged to provide grounds for termination of the Executive’s employment for Cause under this Agreement pursuant to
Section 1(g)(iii). 
 (e)    The recipient of any Notice of Termination shall personally deliver or mail in
accordance with Section 24 written notice of any dispute relating to such Notice of Termination to the party giving such Notice within 15 days after receipt thereof; provided, however, that if the Executive’s conduct or act alleged
to provide grounds for termination by the Company for Cause is curable, then such period shall be 30 days. After the expiration of such period, the contents of the Notice of Termination shall become final and not subject to dispute. 

14.    Further Obligations of the Executive. 

(a)    Competition. The Executive agrees that, in the event of any Covered Termination (other than a termination by
the Company for Cause or by the Executive without Good Reason), the Executive shall not, for a period expiring six (6) months after the Termination Date, without the prior written 

 
approval of the Company’s Board of Directors, participate in the management of, be employed by or own any business enterprise at a location within the United States that engages in
substantial competition with the Company or its subsidiaries, where such enterprise’s revenues from any competitive activities amount to 10% or more of such enterprise’s net revenues and sales for its most recently completed fiscal year;
provided, however, that nothing in this Section 14(a) shall prohibit the Executive from owning stock or other securities of a competitor amounting to less than five percent of the outstanding capital stock of such competitor;
provided, further, that if the Company reasonably believes the Executive is preparing to associate, or has commenced association with a business enterprise that would otherwise be prohibited by this Section 14(a), then, the Board
shall consider such association in good faith and such association shall be deemed to be competitive and prohibited by this Section 14(a) only if so unanimously determined by the Board. In the event of any Covered Termination (other than a
termination by the Company for Cause or by the Executive without Good Reason), the provisions of this Section 14(a) shall supersede Paragraph 7.3.2 of the Employment Agreement. 

(b)    Confidentiality. During and following the Executive’s employment by the Company, the Executive shall
hold in confidence and not directly or indirectly disclose or use or copy or make lists of any confidential information or proprietary data of the Company (including that of the Employer), except to the extent authorized in writing by the Board of
Directors of the Company or required by any court or administrative agency, other than to an employee of the Company or a person to whom disclosure is reasonably necessary or appropriate in connection with the performance by the Executive of duties
as an executive of the Company. Confidential information shall not include any information known generally to the public or any information of a type not otherwise considered confidential by persons engaged in the same business or a business similar
to that of the Company. All records, files, documents and materials, or copies thereof, relating to the business of the Company which the Executive shall prepare, or use, or come into contact with, shall be and remain the sole property of the
Company and shall be promptly returned to the Company upon termination of employment with the Company. 
 (c)    No
Solicitation. The Executive agrees that, in the event of any Covered Termination where the Executive is entitled to Accrued Benefits, the Termination Payment and the Prorated Bonus, the Executive shall not, for a period expiring two years after
the Termination Date, without the prior written approval of the Company’s Board of Directors, hire or solicit for employment any person who is or was employed by the Company during the then immediately preceding 12 months, other than pursuant
to a general published solicitation of employment. 
 15.    Expenses and Interest. If, after a Change in Control
of the Company, (a) a dispute arises with respect to the enforcement of the Executive’s rights under this Agreement or (b) any legal or arbitration proceeding shall be brought to enforce or interpret any provision contained herein or
to recover damages for breach hereof, in either case so long as the Executive is not acting in bad faith, then the Company shall reimburse the Executive for any reasonable attorneys’ fees and necessary costs and disbursements incurred as a
result of the dispute, legal or arbitration proceeding (“Expenses”), and prejudgment interest on any money judgment or arbitration award obtained by the Executive calculated at the rate of interest announced by The Bank of New York, from
time to time at its prime or base lending rate from the date that payments to him or her should have been made under this Agreement. Within ten (10) days after the Executive’s written request therefor (but in no event later than the end of
the calendar year following the calendar year in which such Expense is incurred), the Company shall reimburse the Executive, or such other person or entity as the Executive may designate in writing to the Company, the Executive’s reasonable
Expenses. 
 16.    Payment Obligations Absolute. The Company’s obligation during and after the Employment
Period to pay the Executive the amounts and to make the benefit and other arrangements provided herein shall be absolute and unconditional and shall not be affected by any circumstances, 

 
including, without limitation, any setoff, counterclaim, recoupment, defense or other right which the Company may have against him or anyone else. Except as provided in Section 15, all
amounts payable by the Company hereunder shall be paid without notice or demand. Each and every payment made hereunder by the Company shall be final, and the Company will not seek to recover all or any part of such payment from the Executive, or
from whomsoever may be entitled thereto, for any reason whatsoever. 
 17.    Successors. 

(a)    If the Company sells, assigns or transfers all or substantially all of its business and assets to any Person or if
the Company merges into or consolidates or otherwise combines (where the Company does not survive such combination) with any Person (any such event, a “Sale of Business”), then the Company shall assign all of its right, title and interest
in this Agreement as of the date of such event to such Person, and the Company shall cause such Person, by written agreement in form and substance reasonably satisfactory to the Executive, to expressly assume and agree to perform from and after the
date of such assignment all of the terms, conditions and provisions imposed by this Agreement upon the Company. Failure of the Company to obtain such agreement prior to the effective date of such Sale of Business shall be a breach of this Agreement
constituting “Good Reason” hereunder, except that for purposes of implementing the foregoing the date upon which such Sale of Business becomes effective shall be deemed the Termination Date. In case of such assignment by the Company and of
assumption and agreement by such Person, as used in this Agreement, “Company” shall thereafter mean such Person which executes and delivers the agreement provided for in this Section 17 or which otherwise becomes bound by all the
terms and provisions of this Agreement by operation of law, and this Agreement shall inure to the benefit of, and be enforceable by, such Person. The Executive shall, in his or her discretion, be entitled to proceed against any or all of such
Persons, any Person which theretofore was such a successor to the Company and the Company (as so defined) in any action to enforce any rights of the Executive hereunder. Except as provided in this Section 17(a), this Agreement shall not be
assignable by the Company. This Agreement shall not be terminated by the voluntary or involuntary dissolution of the Company. 

(b)    This Agreement and all rights of the Executive shall inure to the benefit of and be enforceable by the
Executive’s personal or legal representatives, executors, administrators, heirs and beneficiaries. All amounts payable to the Executive under Sections 7, 8, 9, 10, 11, 12 and 15 if the Executive had lived shall be paid, in the event of the
Executive’s death, to the Executive’s estate, heirs and representatives; provided, however, that the foregoing shall not be construed to modify any terms of any benefit plan of the Employer, as such terms are in effect on the date
of the Change in Control of the Company, that expressly govern benefits under such plan in the event of the Executive’s death. 

18.    Severability. The provisions of this Agreement shall be regarded as divisible, and if any of said provisions
or any part hereof are declared invalid or unenforceable by a court of competent jurisdiction, the validity and enforceability of the remainder of such provisions or parts hereof and the applicability thereof shall not be affected thereby. 

19.    Contents of Agreement; Waiver of Rights; Amendment. This Agreement sets forth the entire understanding
between the parties hereto with respect to the subject matter hereof, and the Executive hereby waives all rights under, any prior or other agreement or understanding between the parties with respect to such subject matter. This Agreement may not be
amended or modified at any time except by written instrument executed by the Company and the Executive. 

20.    Withholding. The Company shall be entitled to withhold from amounts to be paid to the Executive hereunder
any federal, state or local withholding or other taxes or charges which it is from time to time required to withhold; provided that the amount so withheld shall not exceed the minimum amount 

 
required to be withheld by law unless otherwise elected by the Executive in writing. In addition, if prior to the date of payment of the Termination Payment or Prorated Bonus hereunder, the
Federal Insurance Contributions Act (FICA) tax imposed under Sections 3101, 3121(a) and 3121(v)(2) of the Code, where applicable, becomes due with respect to any payment or benefit to be provided hereunder, the Company may provide for an immediate
payment of the amount needed to pay the Executive’s portion of such tax (plus an amount equal to the taxes that will be due on such amount) and the Executive’s Termination Payment or Prorated Bonus shall be reduced accordingly. The Company
shall be entitled to rely on an opinion of the National Tax Counsel if any question as to the amount or requirement of any such withholding shall arise. 

21.    Certain Rules of Construction. No party shall be considered as being responsible for the drafting of this
Agreement for the purpose of applying any rule construing ambiguities against the drafter or otherwise. No draft of this Agreement shall be taken into account in construing this Agreement. Any provision of this Agreement which requires an agreement
in writing shall be deemed to require that the writing in question be signed by the Executive and an authorized representative of the Company. 

22.    Governing Law; Resolution of Disputes. This Agreement and the rights and obligations hereunder shall be
governed by and construed in accordance with the laws of the State of Wisconsin, without reference to conflict of law principles thereof. Any dispute arising out of this Agreement shall, at the Executive’s election, be determined by arbitration
under the rules of the American Arbitration Association then in effect (in which case both parties shall be bound by the arbitration award) or by litigation. Whether the dispute is to be settled by arbitration or litigation, the venue for the
arbitration or litigation shall be Milwaukee, Wisconsin or, at the Executive’s election, if the Executive is not then residing or working in the Milwaukee, Wisconsin metropolitan area, in the judicial district encompassing the city in which the
Executive resides; provided, that, if the Executive is not then residing in the United States, the election of the Executive with respect to such venue shall be either Milwaukee, Wisconsin or in the judicial district encompassing that city in
the United States among the thirty cities having the largest population (as determined by the most recent United States Census data available at the Termination Date) which is closest to the Executive’s residence. The parties consent to
personal jurisdiction in each trial court in the selected venue having subject matter jurisdiction notwithstanding their residence or situs, and each party irrevocably consents to service of process in the manner provided hereunder for the giving of
notices. 
 23.    Additional Section 409A Provisions. 

(a)    If, after the date of a Change in Control of the Company, any payment amount or the value of any benefit under this
Agreement is required to be included in the Executive’s income prior to the date such amount is actually paid or the benefit provided as a result of the failure of this Agreement (or any other arrangement that is required to be aggregated with
this Agreement under Code Section 409A) to comply with Code Section 409A, then the Executive shall receive a distribution, in a lump sum, within 90 days after the date it is finally determined that the Agreement (or such other arrangement
that is required to be aggregated with this Agreement) fails to meet the requirements of Section 409A of the Code; such distribution shall equal the amount required to be included in the Executive’s income as a result of such failure and
shall reduce the amount of payments or benefits otherwise due hereunder. 
 (b)    The Company and the Executive intend
the terms of this Agreement to be in compliance with Section 409A of the Code. The Company does not guarantee the tax treatment or tax consequences associated with any payment or benefit, including but not limited to consequences related to
Section 409A of the Code. To the maximum extent permissible, any ambiguous terms of this Agreement shall be interpreted in a manner that avoids a violation of Section 409A of the Code. 

 (c)    If the Executive believes he is entitled to a payment or benefit
pursuant to the terms of this Agreement that was not timely paid or provided, and such payment or benefit is considered deferred compensation subject to the requirements of Section 409A of the Code, the Executive acknowledges that to avoid an
additional tax on such payment or benefit pursuant to the provisions of Section 409A of the Code, the Executive must make a reasonable, good faith effort to collect such payment or benefit no later than 90 days after the latest
date upon which the payment could have been timely made or benefit timely provided without violating Section 409A of the Code, and if not paid or provided, must take further enforcement measures within 180 days after such latest
date. 
 24.    Notice. Notices given pursuant to this Agreement shall be in writing and, except as otherwise
provided by Section 13(d), shall be deemed given when actually received by the Executive or actually received by the Company’s Secretary or any officer of the Company other than the Executive. If mailed, such notices shall be mailed by
United States registered or certified mail, return receipt requested, addressee only, postage prepaid, if to the Company, to Fiserv, Inc., Attention: Secretary (or President, if the Executive is then Secretary), 255 Fiserv Drive, Brookfield,
Wisconsin 53045, or if to the Executive, at the address set forth below the Executive’s signature to this Agreement, or to such other address as the party to be notified shall have theretofore given to the other party in writing. 

25.    No Waiver. No waiver by either party at any time of any breach by the other party of, or compliance with,
any condition or provision of this Agreement to be performed by the other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same time or any prior or subsequent time. 

26.    Coordination with Employment Agreement. This Agreement is the “KEESA” referred to in Paragraph 5.1
of the Employment Agreement. In the event of a Change in Control of the Company, as defined in this Agreement, the Executive shall be entitled to the benefits of this Agreement, subject to the non-duplication
and other provisions of said Paragraph 5.1. 
 27.    Headings. The headings herein contained are for reference
only and shall not affect the meaning or interpretation of any provision of this Agreement. 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the day and year first
above written. 
  

					
	FISERV, INC.
		
	By:	 	 /s/ Jeffery Yabuki

		 	Name:	 	Jeffery Yabuki
		 	Title:	 	President and CEO
		
	Attest:	 	 /s/ Lynn McCreary

		 	Its: CLO
	
	EXECUTIVE:
	
	 /s/ Frank Bisignano

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